amount of coins and bills

[hithere]

the amount of COINS(exactly Quarters) is increased? decreased, or same?
I mean if you compare the BILLS and COINS from your income...
you add more coins? or you take out coins from your store? or do nothing since almost equally balanced??

Thanks

[laundryboy]

Your question is a bit confusing.

If you empty your washers/dryers and have MORE quarters than fit in your change machine - it means, people are bring quarters into your laundry.

If you need to ADD quarters to your change machine (from the bank) - it means people are walking away from your store with quarters in their pockets.

If your supply of quarters stays constant - people are spending the money they get from YOUR changer in YOUR machines, relatively speaking.

Your quarter inventory DOES NOT directly relate to the PROFITABILITY of your store.

[hithere]

Your question is a bit confusing.

If you empty your washers/dryers and have MORE quarters than fit in your change machine - it means, people are bring quarters into your laundry.

If you need to ADD quarters to your change machine (from the bank) - it means people are walking away from your store with quarters in their pockets.

If your supply of quarters stays constant - people are spending the money they get from YOUR changer in YOUR machines, relatively speaking.

Your quarter inventory DOES NOT directly relate to the PROFITABILITY of your store.

I know that my quarter inventory DOES NOT directly relate to the PROFITABILITY of my store. and I am not asking about it.

My question is that
"which case among the three cases, normally?".

[TLR]

More quarters than bills in changer - but I do not have anything around me that would entice someone to get quarters from my machine and take outside my store and use somewhere else.

TLR

[KJD]

I always have in excess of $2000.00 in extra quarters I have to take to the bank every month.

[PeterH]

Quarters are the only indication of income, since they come directly from each of your machines. Bills are incidental, but sure nice to have for the bulk of deposits carried to the bank!!!

About once a month I have to carry anywhere from $2K - $5K in rolled quarters to the bank.

[KJD]

Quarters are the only indication of income, since they come directly from each of your machines. Bills are incidental, but sure nice to have for the bulk of deposits carried to the bank!!!

About once a month I have to carry anywhere from $2K - $5K in rolled quarters to the bank.


Peter, You roll the quarters? Doesn't your bank take bulk bag deposits?

[Winston]

I have to add about $500 in quarters every 2 weeks. I asked one woman who got $20 in quarters why she needed the quarters. Answer: "The laundromat I go to doesn't have a change machine"!!

[laundryboy]

I have one store that always needs quarters added. It is in the hood. Everything from change for the bus to the people that need quarters for their apartment machines. My other two stores always have quarter surplus. IMHO, I believe volume and neighborhood have a bearing on the amount of shrinkage or surplus. Only my low volume store has shrinkage, the other do not.

[Clothes_Tyme]

I have to add quarters about every 2 weeks. I always have more cash than quarters.

[PeterH]

Peter, You roll the quarters? Doesn't your bank take bulk bag deposits?

Yes, I roll my quarters. I use a small community bank that gave me excellent service when I was first starting up and when I bought my second store. They don't have the equipment to roll, and honestly, I never even thought about taking in bulk quarters until I saw a discussion on it on the internet about 6 months after I got into business. Ain't no thang to me, I roll as I count and it really doesn't take that much longer. I have an electric Klopp to speed things along.

[goingtoarizona]

We usuallu get about 1500 in quarters a week amongest three stores. We went one week of rolling the large amount of quarters until our teller at B of A gave us bulk bags, saves me hours a week in rolling.

[troy]

Do bank charge you extra for bringiing bulk of coins instead of rolls?

[KJD]

Do bank charge you extra for bringiing bulk of coins instead of rolls?

My bank just takes my 50# ($1000) bags and dumps them in their counter to verify and rebags them and ships them back to the feds.

[WhatwasIThinkin]

Pete
If I had to roll all quarters, i would blow my head off!
Commerce here in NY has a change counter named "Penny Arcade" you pour all of your coins in, a receipt prints (no commish taken out by the bank) and the teller gives you cash or deposits to your account. Excellent service!

[DirtyLaundry]

In 25 years of owning laundromats, I have never had to buy quarters, but there are no banks in my area that accept bulk quarters. They have to be rolled. I can say since the introduction of $10 and $20 acceptors on the changers, the amount of rolled coin I take to the bank has dropped significantly. Rolled coin averages about 5 to 10% of my total deposits. For that matter, even the amount of $1 bills I take to the bank has dropped, as more people are cashing in larger bills. More money - less counting. :)

[CharlieS]

All three of my mats "make" quarters. I take in about $4K a month in quarters. Most in bulk bags. The rest rolled by an automatic machine I bought on Ebay for $200 and worth 20 times that.

Charlie

[DuboisLaundry]

people bring in more quarters than they take out