Everyone knows where to find you this school year. You’re running the concession stand at games and events.
Serving yummy fare and convincing fans to buy spirit gear is fun.
But you’re not just serving up the best concessions in town. You’ve got your finger on the pulse.
You know cash isn’t the best way to pay for concession stand expenses anymore. Cash is hard to keep track of and even easier to lose.
Plus, cash isn’t a hygienic choice on event days. Moreover, it takes longer to exchange and can be lifted when you’re not looking.
If cash doesn’t cut it anymore, what does?
Braid Money Pools.
It’s a fresh new app to run your cashless concession stand conveniently, accurately, and securely.
Keep reading to see how Braid Money Pools work and how to set yours up today.
What are Braid Money Pools?
If there was a draft for cashless concession stand apps, the analysts would be talking about Braid.
With Braid, you don’t transfer “my money” or “your money.” With Braid, you have a dedicated place to collect, manage, and spend “our money” with multiple collaborative users. How’s that for teamwork?
It’s ideal when you need to share expenses, like concession supplies, food, and merchandise.
Braid Money Pools are a tech-savvy solution for events, too. Accept cash-free payments for concessions directly into your pool.
Fans like it because they spend less time waiting in line and more time watching the game.
Why you should have a cashless concession stand
It’s understandable if you’re on the fence about going cashless. Cash has been the preferred tender at concession stands for decades.
But while fans still want concessions, they’re changing how they pay. According to the Federal Reserve's most recent payment study, only 13% of U.S. adults use cash for most purchases.
Therefore, it only makes sense to give concession stand customers a payment method consistent with how they already spend money: cards, apps, and mobile banking. With concession stand apps, like Braid Money Pools, you can.
You’ll be in fantastic company: National Football League stadiums and nearly all Major League Baseball ballparks in the U.S. are cash-free.
Why Braid is the best concession stand payment option
Going cash-free is a welcomed change with Braid:
- Automatic and accurate transactions: With cash boxes, you must count exact change, which is complicated and prone to error. Braid does it for you.
- Faster service: No one wants to miss a great play because they're standing in a long concession line. With Braid, Pool Links speed up transactions and get people back to their seats faster. Keep reading to learn all about Pool Links.
- Secure transactions: Cash is easy to lose or lift. But with Braid, payments and personal information are encrypted end-to-end using SSL 256-bit encryption.
- Higher revenue: Pool Link payments are simple and easy, so people are more likely to make multiple purchases at the same event. Ka-ching!
- More customers: Cash-only payments exclude up to 50% of event attendees and limit revenue. Offer Braid as a cash-free payment method and attract more people and purchases.
- Happier attendees: When you choose Braid to streamline and speed up concession stand transactions, you contribute to a fanatic event. Parents can dash to your concession stand without missing their child’s first slam dunk or touchdown.
Is there another app for concession stands?
Braid isn’t the only app you can use for your concession stand, but it’s the easiest and most cost-effective.
Take Fanfood, for example. It’s like Grubhub and delivers concessions to your seat at the venue. But it earns revenue by billing venues for installation. It also takes an undisclosed cut of the concession stand’s income.
Plus, it doesn’t just charge $3 for in-seat delivery. It charges customers $1 to pick up their orders. To top it off, payment processing fees range from 1.5% to 3.5% on every transaction.
What about Venmo for concession stands?
According to Venmo, this popular app does not belong at your concession stand.
Venmo users can’t use the app to accept payment from another user for a good or service unless explicitly authorized by Venmo or if they have a business account.
Braid doesn’t work that way. You can always accept payments for menu or merchandise items.
How to collect concession payments with Braid Pool Links
Collecting payments for concessions is easy with Braid. All you need is a Pool Link - a unique link that comes with every pool. Here’s how they work.
Personalize your Pool Link
Your Pool Link is customizable and can say precisely what you want. This way, people know what they are tapping on and where it’s taking them.
For example, your Pool Link can say "braid.co/p/Tigers-Concession-Stand" or "braid.co/p/Amherst-Football-Concessions."
You can choose your color palette, upload an image, and provide a brief description, listing the prices of your most popular items and thanking customers for their business.
Share your Pool Link
If you’re running a concessions stand, Pool Links make payments fast, secure, and straightforward.
Generate a QR code for your Pool Link, so people can scan it with their mobile devices and pay directly into your pool.
You can also text or email your Pool Link or post it on social media.
Do concession stands take debit cards or credit cards?
When you use Braid Money Pools, people can use your Pool Link to pay via debit or credit card. They don’t need to sign up or create a Braid account. They only need your Pool Link.
With your link, they can pay with a debit card for free. Or with a credit card for a 3% fee.
Learn how to set up your cashless concession stand with Braid Money Pools today!
How to set up Braid Money Pools and run a successful concession stand
You now know how easy it is to purchase concessions with Pool Links. Here’s how to get your money pools ready-set-go for events.
1. Start your free Braid Pool by downloading Braid and naming your pool
We don't check your credit history or report anything to the credit bureaus. We need to verify your identity, but it only takes a few minutes. Once completed, you’re free to use money on Braid.
2. Manage your pool with other concession stand team members
Unlike popular peer-to-peer money-transferring apps like Venmo, Braid is designed for multiple users.
To share your pool, send others an invitation link to join the pool so they can become admins with you.
Once they download Braid, they can accept your invitation and share admin tasks with you. These include:
- Viewing the pool and checking the balance at any time
- Tracking contributions
- Spending pool funds with the Braid card
3. Share concession stand expenses
Use your money pool to buy what you need to purchase supplies, food, or new signage.
You don't need to transfer funds to a bank account to spend them. You can spend pool funds directly using your free digital Braid debit card wherever Mastercard is accepted. You can order a physical card, too.
With zero transaction fees, maintenance fees, or overdraft fees, you can spend 100% of your pool funds to cover concession stand expenses.
If you need to transfer pool funds to a bank account, use your pool account and routing number. It’s that simple.
With Braid, you don’t have to worry about transferring money back and forth between personal accounts, misplacing cash, or losing receipts. Everything happens in the pool.
What is in a concession stand?
If you’re getting ready to start your first concession stand, you probably have some questions: What concession equipment do I need?
How much does it cost to get a booth up and running?
Before ending this post, we thought we’d provide answers, along with suggested amounts to collect into your pool.
- Booth: Should you spend money on your booth and signage? Aren’t people coming for the food? Yes, but when a stand looks rundown, people might think the food is low quality. A nice-looking booth can attract people and increase sales. Suggested pool amount: $1,000 - $7,000
- Equipment: High-quality, durable equipment is safe and efficient. Plus, it looks better to prospective customers. Suggested pool amount: $6,000
- Supplies: You need napkins, straws, cups, lids, and carrier trays. You’ll also need to keep a regular budget for these supplies. Suggested pool amount: $300
- Food: Serve fans the honest-to-goodness fare they expect: popcorn, cotton candy, nachos, pretzels, roasted nuts, snow cones, corn dogs, ice cream, etc. Because food is an ongoing and regular expense, you’ll need a recurring budget. Suggested pool amount: $400
- Merchandise: Are you selling school spirit gear at your booth too? You’ll need a money pool for that. Suggested pool amount: $300
- Space and permit fees: Check local regulations for space and permit fees, especially if you take your concession stand on the road. Pool money with other organizers to cover these expenses.
Concession stands are a fun way to participate in school and community events.
With more people expecting cash-free payment options, it only makes sense to use Braid Money Pools.
With Braid, every transaction is quick, hygienic, and secure at your cashless concession stand.
