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Should I buy mechanical safe deposit box or self-service safe deposit lockers?

Updated: Jun 29, 2021

In many countries and regions, people have the habit of using safe deposit box, which provide commercial space for private safe deposit box. Private safe deposit box have a large one-time investment when they are opened, including site, material defense, technical defense, fire protection, and constant temperature. Constant humidity, decoration, marketing, and other expenses, but in the later stage, only the cost of space and labor is required, and many customers are long-term leases, which can achieve stable cash flow and operation, and are not affected by inflation and prices,Therefore,this is a sustainable and replicable business model. If we are going to buy safe deposit lockers, how should I choose?

Types of safe deposit box: Mechanical safe deposit box and self-service safe deposit lockers are more common in the market. Their respective characteristics are as follows

Advantages of the Mechanical Safe Deposit Box:

1. Low product failure rate, no maintenance

2. Customers deposit and withdraw personal items on their own, without other people's contact, the safety factor is higher, and customers are more assured

3. The location can be chosen in a relatively hidden place such as the garage and the first floor, and the rental cost is lower

4. There are employees throughout the process to provide customers with high-quality services, which is more friendly to elderly customers

5. Large and super large cabinets can be customized to facilitate customers to store valuables such as gold, antiques, and cultural relics

Disadvantages of mechanical safe deposit boxes

1. Including treasury, business area, office area, rest and negotiation area, etc., requiring a larger space (50-1000 square meters)

2. Need to hire multiple service personnel

3. The business hours are fixed and customers can only use it within a specific time

Advantages of the self-service safe deposit box

1. Only the account opening counter, the vault, and the operation room are required, and the area is small (10-30 square meters)

2. 7*24 hours service can be provided

3. No need to hire multiple service personnel

Disadvantages of self-service safe deposit boxes:

1. There are many electronic devices that require daily maintenance, and the failure rate is relatively high

2. Self-service operation throughout the whole process, not very friendly to elderly customers

3. It needs to be installed in crowded places such as shopping malls and central urban areas, and the rent is higher

4. The storage box is in motion when entering and exiting, and the customer cannot see the storage location, worrying about safety

5. Only small and medium-sized boxes, no heavy and large personal belongings

Which type of safe deposit box should I choose?

If your customer group is mid-to-high-end customers, you should use a fixed safe deposit box. This type of customer group has more storage requirements for valuables and needs large cabinets. At the same time, it has higher requirements for safety and service.

If your customer group is the general public or mid-end customers, you can use self-service safe deposit boxes. This type of customer mainly stores documents, jewelry, and other personal items. At the same time, working hours are fixed and the use time needs to be very flexible

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