Hello, GOTL businesses.
This page is for Business Owners on the GOTL Strip. It will help you understand a bit more about the poker chips and how your strip of businesses can utilize them to help all of your businesses. These coins can help your businesses increase awareness, increase foot traffic, increases sales and above all - make more money.
Don't assume, that if you do not sell drinks, you cannot take advantage of these coins. These chips are not exclusive to bars or restaurants to be used as drink tokens. They can be used as gift certificates, charity event keepsakes, challenge coins, business cards and more, but to make the most money from them, using them as drink tokens and gift certificates is the way to go.
In the sample set you'll receive (if requested), you will find 9 total chips. Eight of the chips will be 39mm and one will be 43mm to illustrate the most popular sizes.
• Two chips are business cards, each with a scannable QR code.
• Two are poker chips that will show the difference between our aligned and non-aligned edge options (3rd Street).
• One is a gift certificate, as mentioned above (free game of bowling).
• One is a simple challenge coin (hot wings).
• One is a custom drink token (Clubhouse bottle beer).
• One is a charity event keepsake (fight club).
• The last is a discreet shut-off coin when you need to let someone know they've been 'over-served' (magic 8-ball).
This sample set should illustrate the design possibilities and the diverse ways these coins can be used.
Profit From the Chips
The chips, at their most expensive, will cost you a dollar each (unless you can get the total order quantity high enough to drop the price per chip). If you use these coins as drink tokens, your customers will pay your drink prices for the coin. If you offer them as a gift certificate, your customers will pay the gift certificate price (suggestion: Keep the gift certificates around $5 to make it an easy buy). In either case, if the customers take them home and never use them, you have just made a profit. It will be a small profit - the difference between the customer's purchase price and the cost of the chip - but you've made a profit.
Almost all of the businesses on the GOTL strip can use these coins. The more businesses you can get together to place an order together, the more likely it will be that your cost per chip will come down. Also, having more businesses involved will help making the set of chips more collectible and will bring this profit margin up a bit. Although every business can utilize these coins, the profit margin will be determined by your product prices. This hurts one GOTL business in particular on the strip - The Yankee.
The only business on the strip who may struggle with profit from these chips is the Yankee Bar & Grill. This is because of their happy hour beer pricing, which is basically the same as the cost of the chip. The chips will still be collected, just not as much profit will be seen on them if used for beers. One solution would be to ensure the chips are only sold and redeemed after happy hour. A simpler way to overcome this is to use the chip to offer a drink that is not part of the happy hour special (mixed drink, draft beers, jello shots or any other possible offering that will be priced above the chip cost).
Different Product Offers
This method can be used in the bars that want to sell more of their less-ordered products. Your tokens can offer anything. You can have more than one token in circulation at your bar. You can offer a token each for a bottled beer, a draft beer, a mixed drink/cocktail, a shot, wine or whatever else you sell. Remember, the more tokens you have on offer, the more likely someone will be to collect them. When they collect them, you make a profit.
Creating a Collectible Set
The token set can be exclusive to a single bar or can include a group of bars together. It honestly makes little difference. Once it is discovered that there are a number of chips in a perceived set, they will begin to be collected. In a single bar, this will help to sell more of the products that you normally do not sell - just because people will want their coin to complete a set. Doing this as a group will help the smaller businesses see more foot traffic - it forces the collectors to seek out the chips they are missing and brings them to businesses that they may have not known of or visited otherwise. Maybe this visit introduces the person to a shop that interests them and they become a new patron.
Selling the Entire Collection at Once
Also, a single business, could sell the entire set of chips together for those who either have no desire to visit each business to collect the their set or for the ones who may not have the time. This scenario would have to be worked out among the businesses to have a neutral location sell these complete sets. The neutral location would be required to purchase the chips from each of the individual businesses at their agreed-upon pricing. This would not benefit the neutral business financially, but it will through foot traffic. This would be an ideal proposition for a business like the Chamber of Commerce which doesn't normally see the same amount of foot traffic as the other businesses on the strip. It will bring folks in to purchase the collection of coins, but while they are there, they may discover a lot more about Geneva on the Lake than they knew prior to their visit.
I normally charge a design fee of $50 for every new design, but if you can get a group of just a few bars together, I am very happy to cut that fee in half for each bar. No artwork fee is applied to re-orders unless the design is changed. Chip pricing is below.
PRICING (total order quantity)
The more chips you have on a single order, the better your chip price is. Buying as a group is the easiest way to get a better price per chip (unless you don't mind ordering a larger quantity for yourself). Any order totaling:
• 100-475 chips = $1/chip.
• 500-975 chips = $0.80/chip,
• 1000-4975 chips = $0.75/chip.
• 5000+ chips = $0.70/chip.
I would need 2-3 weeks after artwork approval and payment to deliver the chips. If you would like to have these for the 2018 or future summer vacationing seasons, you'd need to plan accordingly.
I realize that you may not get the full benefit of these chips over the 2018 season because your seasons may have already started. This will still be a great time to introduce these chips. You can make a smaller initial order and use the remainder of the 2018 season as a test of how popular and/or profitable the chips will be. You can use this data to help you budget and plan for next year's season in plenty of time. It is best to consider starting your new chip design project in the Winter months. If we can have your chip designed by March, any small changes will be quite easily addressed with no trouble. If we wait until April to start designing, we will run into deadline issues which rush projects and breed mistakes. Contacting me in February would be the wisest time. This would ensure the details and changes can all be fine-tuned before the start of the season. It may take 3 weeks to deliver your order. Keep that in mind as well. I have no control over the manufacturing process and where my jobs are placed in the print queue. Smaller jobs are typically just thrown into the queue between casino orders. This means delivery times vary from 2 - 3 weeks. As long as this is planned for at the beginning, there should be no surprises.
Please feel free to contact me with any questions. You can email me at email@example.com and I will be happy to help you.