(Note: This story appears in the September 2022 issue of ED Magazine)
Cash may be king, but BanQone is ensuring single dollar bills reign as the queen of your establishment. Make way for the Rain Maker Kiosk/ATM.
Even in an industry known for cash-first businesses, keeping a pulse on evolving fin-tech (financial technology) is critical to growth. BanQone, sponsor of the EXPO 2022’s $10,000 Lingerie Contest, brings emerging technology to a most unlikely place: the ATM cash machine.
The Rain Maker Kiosk (patent pending) is BanQone’s latest innovation in cash withdrawals and bill-breaking, designed specifically for the gentleman’s club industry. Finally, club patrons can access change in seconds without visiting the bar, entertainers can earn tips without waiting for change to be made, and club owners can turn the change-making task into a new, powerful source of additional income.
Here’s how it works: ATMs are a critical aspect of any nightclub establishment, making it possible for patrons to access cash quickly to fuel their fun. But traditional ATMs don’t offer singles withdrawals, meaning club bartenders are usually left to make change. This means fewer tips for entertainers, and time wasted for bartenders who are busy making change when they should be selling drinks.
The Rain Maker Kiosk resolves this issue by allowing withdrawals of up to $1,000 in cash, partially in singles. Plus, Its state of the art counterfeit detection bill-breaking technology even breaks down large bills into singles in seconds, offers convenience to patrons and a new stream of income for club owners.
What’s more, The Rain Maker Kiosk’s smart technology can even detect when cash is low and automatically reorder bills – meaning fewer trips to the bank.
These savings translate to the other critical levels of a gentlemen’s club: entertainers and management. “By making $1 bills more accessible, entertainers will receive more tips more often. Management and bar staff can stay focused on making profits instead of making change.
“Since our kiosk has roughly the same capacity as 12 ATMs, the industry can finally count on our solution to address the need to have singles available to patrons on demand,” Cato adds.
Cato realizes there may be a slight learning curve — owners/operators will have to get used to sending people to our kiosk vs. giving physical change.
“Patrons know exactly where to get change for tipping and can do so in a matter of seconds with the Rain Maker, instead of waiting on bar staff.” — Julius Cato (JC), president and CEO of Integrated Payment Technologies/BanQone
Is the Rain Maker Kiosk A Smart Investment For Your Club?
So, how do you know if this kiosk is the right investment to grow your business and create extra revenue month after month?
That was the question one club owner in Illinois asked, too. They utilized our helpful comparative calculator to determine their current return using their traditional ATM and compared this to the estimated potential return of using a Rain Maker kiosk. The results speak for themselves. With a monthly ATM volume of $80,000, an average of $60,000 spent in $1 bill orders, an average ATM withdrawal of $150 with a $5 surcharge per transactions, the Rain Maker can create an estimated additional $7,000 a month – that’s $85,000 a year.
As the ultimate taste-maker in the world of night-life, the city of Atlanta is the best place for nightclub owners to explore fin-tech innovation. What’s seen and heard in the city’s clubs sets the tone for the rest of the industry across the country. Atlanta’s stronghold on night-life and culture is world-renowned. Be one of the first to bring this ground-breaking tech to your establishment.
Cato and BanQone generated a lot of buzz at their booth at EXPO 2022. Many people were curious to know how much additional revenue they could generate by having BanQone’s technology at their establishment. To help illustrate that point, Cato and his team utilized a calculator that crunched out how much revenue was being left on the table by not using the Rain Maker.
Cato mentioned that roughly 9 out of 10 attendees who stopped by their booth agreed that The Rain Maker was an improvement over their existing ATM.
“Then we showed them our user interface and they were impressed by how user friendly it was,” says Cato. “The colors on our screens and the user interface are customized for the environment and for the industry. I think we made a value proposition that is going to be remembered by the people who came out and saw our demo. We are following up with a lot of those people right now. Many of them are taking steps to secure a unit in their facilities.”
Unlike traditional ATMs that only serve one purpose, the Rain Maker Kiosk is designed to serve you and your customer with convenience, simplicity, and extra income. Why not see if you could earn additional passive income from actions your patrons already want to take at your establishment? Visit banqone.com to access our comparative calculator and see for yourself. It only takes a few minutes.
For more information, visit banqone.com, or email sales@banqone.com.
