The trend to investing in “experiences” has led to a theme park boom. In 2017, people spent around $45 billion at theme parks. A good chunk of that spend was in cash.
Chances are your park is handling less cash than that, but you may still find cash handling an enormous challenge. The sheer amount of cash changing hands at different locations in and around the park poses problems.
If you’re facing any of these five cash handling issues, you’re not alone. They’re some of the most common in the industry. Luckily, there are solutions that can help.
1. Storing Cash Securely Is a Concern
No doubt there are registers throughout your theme park. The main entrance probably has a few lanes. The larger the park, the more lanes there are. If you have more than one entrance or people can buy upgraded tickets elsewhere in the park, then you likely have more tills too.
Beyond that, various gift shops, kiosks, and more throughout the park might have their own point-of-sale terminals. There may be registers in restaurants that are owned and operated by the park as well.
How do you keep all that cash secure, especially when souvenir stands and drink carts might move around?
Cash recyclers at strategic locations and smart safes in your main offices could be the solutions you need. With upgraded storage and security, your park’s cash will be taken care of.
2. Sorting and Counting Cash Is Another Issue
Another issue faced by theme parks is counting and sorting all that cash. You may have hundreds of tills around the park. Not only do they need to be secure, they also need to be counted.
A cash counter and sorter could help. So too could a cash recycler. Once a till reaches a certain amount, when shifts change, or at designated hours, you could ask your team members to make deposits or have pick-ups, as well as top up the till with change.
Cash recyclers help because they sort and count cash automatically. They also keep running tallies of what’s added and withdrawn.
In the back office, a recycler could help, as could a smart safe. With these technological solutions, you can rest assured that your cash is being accounted for both quickly and accurately.
3. Improve Cash Visibility and Tracking
Keeping tabs on all their cash is a struggle for amusement parks. All of those tills also have floats. You probably funnel all your cash into a cash office or another designated storage site at the close of business. You may have multiple temporary storage sites for use through business hours as well.
How do you keep track of all the money that’s moving around? Recyclers and smart safes provide the answer you need. With better recording and tracking, they can tell you how much cash you have on hand, where, and when. They can even tell you who is handling your cash.
Better visibility and tracking make it easier to keep tabs on your cash.
4. Improving Accountability for Employees
Another issue that goes hand-in-hand with cash visibility is accountability. Employees who know you don’t have good eyes on your cash may be tempted to act dishonestly. They might feel they can’t get caught.
Better visibility and tracking also leads to better accountability from your employees. Mistakes are easier to spot, which deters employees from acting out of line. When and if something does go missing, it’s easier to track back and take action.
5. Managing Cash Fees
How much should you keep in your float? How much cash should you leave stored on premise? These questions are likely answered in your policies, but they could be leading to higher fees for cash management. With the right technology, you could streamline deposits, withdrawals, and even how often you order a pick-up. In turn, you can better manage those fees.
Cash handling problems are no stranger to the theme park industry. With the right technology, you can make these challenges history.