How are credit card transactions reconciled with the school and how often?
The school will be sent a check quarterly for the total amount of credit card transactions through their Spirit Box, minus the transaction and processing fee (flat 5%).
What payment methods does that Spirit Box accept?
Cash, Discover, American Express, Visa, Mastercard Credit Cards, Visa and Mastercard Debit cards, as well as Google Wallet and Apple Pay.
Can the boxes be placed outside?
The boxes are manufactured to be placed in a climate controlled indoor space. We typically see high traffic areas (lunch rooms, outside the gym area) being the best spot for the Spirit Box.
What is the Deadline to Sign-Up
You can launch a Spirit Box Enterprise at any point throughout the year.
How soon can we launch our Spirit Box business?
About 7 weeks! Week 1: Design the custom graphics wrap. Weeks 2 - 4: Manufacture your Spirit Box. Week 5: Your Spirit Box is on the way! Week 6: Training and stocking the Spirit Box. Week 7: Go live!
What happens if the machine breaks down?
We have a network of technicians available nationwide to help with onsite technical/mechanical issues with your Spirit Box if needed.
What is the cost of implementing the Spirit Box Enterprise program?
Year 1 Investment: $10,785. This includes a state-of-the-art vending machine that your school owns, an inventory starter-pack (approx. $1,500 retail value) and an onsite training at your school, as well as ongoing program support throughout the year! Spirit Box LLC will continue to provide an ongoing support and service package for just $695/yr for years 2+.
What are margins and break even points?
With an estimated life cycle of 10+ years, and a salvage value (end-of-life value) of approx. $1,000, the cost of the Spirit Box year 1 investment can be amortized over 10 years, at $825 per year.
With an average margin of 40% profit on items sold through your Spirit Box, breakeven is approx. $19 in sales per school day! The rest is profit for your program!
The above estimates are based on a 200 day school year and does not take into account weekend or summer sales through the Spirit Box which are very likely.
What is the ongoing Spirit Box support package?
Spirit Box supports your team with ongoing account management, onsite technical service as needed, and credit card processing/management services (among other tools and services). These are all included in the year 1 investment and can be renewed for just $695 per year after year 1. While Spirit Box school teams have expressed that the ongoing support package is very valuable to the success of their program, it is not required.
What kind of support is included?
Each Spirit Box team is assigned an account manager for yearlong ongoing support, as well an area technician for any onsite technical support needed. Also, check out our growing online resource library including lesson plans, templates and best practices. Spirit Box also manages credit card services and simply cuts the school a check quarterly for credit card and smart payment sales!
What should we plan to stock in our Spirit Box?
The products and product placement within the Spirit Box is completely up to you and your team. Spirit Box does provide some initial inventory, that will fill about half of your Spirit Box (5 trays). Aside from this initial inventory, we recommend basic school branded items like T-shirts, hats and lanyards, as well as some basic consumables like sugar free gum, chapstick, hand lotion which can be easily sourced from your local Sam’s Club, Costco or Walmart.
What is the basic process of running the vending machine?
We recommend that you select 1 to 5 students to be the primary Spirit Box managers. Tasks can be delegated to additional students if more would like to participate. We will communicate with you and your Spirit Box managers throughout the school year to help with managing the machine. Check out more here: Spirit Box Management Team.
What are the dimensions of the Spirit Box?
The dimensions of the Spirit Box are: 72" tall, 44" wide, 35" deep and 610 pounds.
What sort of electrical outlet is needed?
Just a regular old 3-prong outlet. That's it!