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BLOG: Cash-only businesses are not going out of style

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Blog: Cash-only businesses are not going out of style

AKRON (Aug. 20, 2014) — I went on vacation recently to Ocean City, N.J. It was great. Thanks for asking.

There’s a delightful boardwalk with shops and restaurants, but none of the food is anything to write home about. Most of it you can find at any local fair where everything is fried and gyros outnumber people.  Except for one chain called Manco & Manco’s Pizza. It’s the kind of pizza you’re willing to scorch your mouth and tongue on just to get that first bite.

And I don’t even love pizza that much. But I love their pizza. No one else has a product that compares with theirs.

Why am I blogging about this? Allow me to explain.

I welcome new technology. I have friends who, in a 15-minute period of time, I will communicate with via SnapChat, Facebook chat, text and use other messenger services. I prefer email to U.S. Mail. I love trying new apps and experimenting with online marketing techniques.

Technology is my bread and butter professionally, and a source of enjoyment, personally.

That said, cash-only businesses make me mad sometimes or, at the very least, annoyed because it’s an inconvenience. I rarely carry cash, so it just provides extra items on my to-do list to get to an ATM.

I think it’s very important to give your customers what they want, however they want it. A cash-only business doesn’t seem to show they subscribe to that same principal. It puts a barrier between your product and the customer. And I think that defies good business sense.

I was asked about a week ago whether I thought cash-only businesses will be extinct in four or five years.

Before going on vacation, I would have eagerly said yes. But hoping they cease to exist and believing it are two different things in this case.

Manco & Manco’s pizza is cash-only. Yes, I may have rolled my eyes each time I had to get cash for my beloved pizza. But alas, I did it anyway. I did it because their product, I feel, I couldn’t find anywhere else. They create an environment to which I feel loyalty.

Creating that kind of customer loyalty is important to any business, but it’s especially important to the survival of cash-only businesses.

Long story short, no. I don’t see the end near for cash-only businesses. As long as there are cash-only products driving demand, those businesses will live on.

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Previous | Published March 18, 2019

Where can you expect to see the most growth in 2019?

Tire sales
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