Punch board contests to raise revenue

Jonathan Winstel, a Matco Tools franchisee, likes to run contests to raise revenue.

One of his favorite techniques is to have a "punch board" in his truck. This is a board with 1,200 holes in it. Every time a customer makes a purchase or a payment, they get to punch a certain number of holes based on the size of the purchase or the payment. A $50 payment or a $100 cash purchase will allow a customer to punch three holes, for instance. Customers are later awarded prizes, such as apparel or tools, based on the number of holes they punch.

"The more you bought and paid to your account, the more punches you get," he explains.

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