Q & A – Cash Only
We are a four location, family ran, breakfast/lunch restaurant located in Washington state. With ever-increasing costs in labor and food, we are looking for ways to reduce cost without sacrificing food quality or customer experience. My wife and I have been discussing installing ATM machines at all of our locations and going cash only.
Angie and I once considered this for our restaurants too.
But we couldn’t get away from the idea that we’d forgotten who the business was for and that our job was not only to serve our guests but to make it EASY for them to enjoy dining at our establishments. We felt that going to cash only and ATMs might earn us someone’s business once, but were more concerned that those hassles and potential ATM fees might keep them from choosing us next time they were considering going out.
How about place an ATM and give a discount to your guests who choose to pay cash? Maybe even raise your prices on your best selling items slightly? I’m confident you’ll find that about 20% of your menu mix accounts for about 80% of your sales anyway, so the appropriate price changes are a bit easier.