U-Check is the world's first fully-automated supermarket. It has 12 open check-out lanes with no checkers. IAS was the very first to develop, patent and introduce an automated check-out lane. The concept is so good in fact, that other companies have spent millions to copy it.
IAS was also the first company to be able to develop a fingerprint machine that will read only a three-dimensional fingerprint (texture-- not a picture) and digitize it small enough to fit onto the magnetic stripe of a credit card.
U-Check showcases a number of IAS technologies. U-Check showcases the Automated Fingerprint Identification Machine (AFIM) door security, time clock, computer access, customer ID for purchase of alcohol and an AFIM cigarette vending machine.
It also has an AFIM at each check-out lane for U-Check Debit Card transactions. The customer can designate a specific checking account whereupon it is encoded onto a magnetic-stripe card with his/her digitized fingerprint. Customers can pay for their order using this card right at the automated check-out lane.
The customer simply places his/her live fingerprint on the AFIM lens and it compares it to the digital print on the card. If the person is positively verified, the customer's account is debited as though they had written U-Check a check.
The patent pending AFIM Signature Guarantee Data Base software also permanently records on CD ROM, the graphic image of the customers fingerprint during this matching process. If any problems occur based upon this transaction, or if there is any question to whether the person used his/her card, this fingerprint picture can be reviewed.
Unlike current credit card, debit card and paper check processing fees (checks cost approximately .47 to tender and process), the U-Check Debit Card costs U-Check significantly less to tender and process.
With the assistance of a nation-wide bank, IAS has completed this software. Upon the transaction, IAS transmits the data to this bank, whereupon the bank debits the customers account and deposits it into U-Check's banking account.
U-Check also showcases the Automated Check-Out lanes, Automated Express Lanes, Automated Express Exits, Automated Video Review and Surveillance, Automated Produce/Bulk-Item Station, Cashier Routines, Automated Mobile (all-in-one) Inventory/Shelf-Tagging/Sign-Making Machine and Automated Management Software.
Each of these products have several dimensions. For example, the Automated Management Software functions similar to an actual manager. It automatically orders; signals mis-deliveries; has every item mapped out throughout the store by shelf-section-aisle; tracks sales by family code, brand, location, etc., tracks waste and losses in meat and produce, analyzes pricing mix verses mix of sales for adjustment to meet average mark-up; flags pricing errors; ads can be entered months in advance and automatically come on and go off on designated times and dates; tracks theft; automated check-points to track and prevent employee theft (almost 90% of theft in retail stores is from employees); tracks customer buying trends; can record and track individual customers using U-Check card; and much much more.
With this complete automated format, U-Check can operate at nearly 50-60% less labor costs than the average supermarket. Approximately 53% of all operating costs in a supermarket are paid to labor-- Fifty-Three Percent!!! With these and other savings, U-Check can operate at more than 4-5 times greater profit. This margin gives U-Check the flexibility to establish itself in less populated areas wherein a traditional supermarket would be unprofitable. These areas are a fresh market for IAS to target and there are thousands of these locations.
Also, the automated technology simplifies supermarket operations so much that anyone could be trained to operate or own one within weeks. Today, the supermarket industry is so complicated and the margins are so low that it generally requires 20-30 years of experience to own one.
U-Check is designed to be a franchise. I believe IAS is now authorized to sell U-Check franchises in 35 states. Making it possible for anyone to get into the (once-exclusive) supermarket business. Not everyone needs a car, not everyone needs a phone, not everyone even needs electricity, but everyone needs to eat.
U-Check uses the only automated technology available to pilot an entire high-volume supermarket. Others who have copied the IAS automated concept have (self-admittedly) developed nothing more than an express lane designed to be used for approximately 12 items or less.
These are products that are basically market-ready (with the exception of current beta testing by U-Check). These are products that were developed on a shoe-string budget and only a hand-full of employees.
The store is open, and it's the first! While other companies have had tens and even hundreds of millions of dollars to work with, IAS has still beat everyone to the punch!
Of course IAS will have competitors-- try stating something more obvious. Don't the companies any of you work for have competitors?? How foolish.
ML try reading one of IAS' 10-ks. You will find disclosed that Neldon has sometimes funded the company through his own stock sales. When he uses his own stock sales to fund the company it doesn't dilute any other shareholder's stock position but his own.
IAS has developed good, cutting-edge products. These were not easy to develop, and they were developed at a fraction of the cost and man-power that any other company could. This is not only remarkable, it is admirable.
U-Check is open and IAS is putting together the finishing touches as it is making final preparations to aggressively market some of its products-- Such as: the U-Check Supermarket Franchise, AFIM time clocks, AFIM door security, AFIM cigarette vending machines, AFIM Signature Guarantee Data Base, Automated Check-Out Lanes, Automated Management Software, and others.
U-Check has stayed fairly low key in a traditional supermarket sense for the purposes of organizing U-Check operations and product refinement. It hasn't yet begun a serious, or even traditional advertising campaign (such as weekly ad inserts in the mail) and still, its volume has continued to grow. U-Check is preparing to do an official grand opening, prior to which it will begin an aggressive advertising campaign.
I didn't spend much time writing this so it may be choppy or I may not have formulated my thoughts in a manner that I intended to or a manner that is clear. I apologize if this is the case.
This entire post is based entirely upon my own views and opinions, and does not necessarily reflect the opinions or views of any other company-- especially IAS. I encourage you to do your own personal research. Do not use my views or my opinions as any basis for fact. Again, do your own research. |
