Wednesday, 3 February 2010

Coinstar principle ideal for South Africa

This concept, whereby people can take their jars of coins, pour them into a machine and have notes or vouchers returned to them is an unbelievable concept. I am always one who believes in business where the machines do the work are the most effective. This would be perfect for all supermarkets back home in South Africa. Logistically you would have to have a relationship with Fidelity Guards as your cash management organisation but apart from that this is a concept that makes money while you sleep. As much as Coinstar feel that their machine is covered by a patent, they would only have been able to patent certain components within the device, and not able to patent the idea of a machine returning notes / vouchers in return for cash. Someone needs to come up with an idea to copy their machine.


Coinstar if you read this give me a call.


Final note, any business that has a direct result on the mint supply of a country is definitely on the right track. I feel sorry for the car guards as their income is going to be drastically reduced if this comes into effect.



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