A retailer protecting the cash is vital to your business operations. An efficient and secure cash management system helps you stay organised and minimise loss due to mishandling or theft. It is excellent in the shop, but now and then, you will need a cash box to store money outside the shop.
Security
These are in demand, commonly for retailers who operate at markets, fairs, or pop-up events.
Pros and Cons of Cash Boxes
Before we discuss features, consider the advantages and disadvantages of using a cash box in your retail operation.
Pros:
- Durable and sturdy construction
- Easy organisation of cash and coins
- Portable and compact for mobile businesses
- More affordable than high-security safes
- Versatile use for cash, receipts, or small valuables
Cons:
- Limited security— they are not hard for a determined person to break into.
- Not hard to steal if left unsecured
- Some models have quality issues
- Limited capacity—not suitable for large amounts of cash
Let's evaluate the advantages and disadvantages of different cash box systems.
Key Features to Look For
When selecting a cash box, consider these essential features:
Sturdy
The reality is that most of these cash boxes will not last five minutes against a determined person, but they still try to make it easy for them. That is why I prefer metal cash boxes. Unfortunately, they sometimes make the cash box too heavy, so be aware.
Security
It is a pain to use a key to open and close them. We suggest having a latch and a lock. In my experience, many need more substantial locks. Make sure you get a decent lock.
Sized for Your Needs
Please consider the volume of cash you need to handle. A small box might suffice for low-volume businesses, but you'll need more if you deal with many notes and coins.
The compartments should be roomy enough to accommodate multiple stacks of bills and rolls of coins without overflowing.
Make sure that the cash box can handle Australian notes. Chinese and US cash boxes often can't handle our Australian notes. I wonder why people sell them to Australian retailers, but they do.
- Removable trays
- Enough compartments for different denominations
- Tiered cantilever designs for easy access
- Ensure you have enough room in the cash box to handle change.
Portability and Protection
Since you'll move the box around to collect cash deposits, find one lightweight yet sturdy. Look at fireproof and waterproof options, which offer extra security to shield your money.
Can it be secured to a table? One client drilled a hole into the cash box and used a bike lock to secure it to the stand.
Maintenance
To keep your cash box in top shape:
- Regularly clean with a damp cloth
- Avoid harsh cleaners that might damage the finish
- Periodically check the lock mechanism to ensure smooth operation
As a rule, the more complex the features are, the greater the risk of malfunction.
Consider a cash box as an investment in your business's security and efficiency.
