The Hanover Green Card, which gives students a declining balance account to use at local restaurants, had a successful Fall term and now serves 14 area businesses.
"The card is doing better than I ever imagined and it's continuing to grow," said Mitch Jacobs '94, founder and owner of the company.
Jacobs founded the card at the beginning of Fall term because he said he felt students would be more willing to spend money at local restaurants than at Dining Services facilities if there was an easy, cashless method.
In the last few weeks, the Hanover Green Card added Foodee's Pizza, Co-op Food Store, Co-op Service Station, Chez Francoise, and Subway to the list of Hanover establishments accepting the card.
Other Hanover establishments accepting the Green Card include EBA's, Videostop, Panda House Delivery and 5 Olde Nugget Alley.
Students with the card put money into an account operated by Hanover Green Card, Inc. The money in this account can then be used at participating restaurants similar to the declining balance system of Dining Services.
To begin using the card, students must pay $235: $75 deposit, an initial declining balance of $150 and a $10 per term fee.
In the first week of Winter term, the Hanover Green Card has accepted more than 50 new student applications.
"The businesses and the students are happy with the service," Jacobs said. "Of the 100 students who actively used the card Fall term, 99 have signed up again," he said.
"I'm very pleased with it," said Roger Vincent '96, who has had the card since the beginning of Fall term.
"It's much easier than going into town to get cash every time I want food. I don't have to plan ahead to have money," Vincent said.
Several Hanover restaurant owners said the Green Card brought in new business last term.
"I'm very pleased with it," Dirt Cowboy Cafe owner Thomas Guerra said. "It's definitely bringing in new business."
The management of Bagel Basement and Lou's Restaurant also said they are satisfied with the business generated by the card.
But Sheila Stinson of Stinson's Village Store said the Green Card has had little effect on her profits.
"I see very little new business from the card," Stinson said.
"Basically, it's the same customers who used cash before and now use the card. However, I'll continue to subscribe to it because my customers find it convenient," she said.
Jacobs said he devoted Fall term to organizing the operation and will now focus on advertising and expansion. At the beginning of Winter term, Jacobs hung posters around campus, distributed pamphlets to dorm rooms and set up an information booth in Thayer Dining Hall.
He said the businesses will see more new sales due to the card as membership continues to grow.
Jacobs said that as the number of cardholders grows, the card will provide competition to the College's Dining Services program.
"Hanover restaurants offer better quality and more variety," Jacobs said.
But Peter Napolitano, director of Dining Services said he was actually pleased with the introduction of the Hanover Green Card.
"The card has had no effect on us," Napolitano said. "I think the card is great. Now when students say we have a monopoly on food services, we can point to the Hanover Green Card as competition."
Because the card has been so successful, Jacobs said he is looking into the possibility of starting similar operations on other college campuses.
"I have to research how viable the card would be at other places," he said.
But he has no dates set for further expansion.
"I'm staying in Hanover until I get this operation firmly set up," Jacobs said.
