Of course, as business owners, we like to save money, also!
Paul here – I haven’t posted a blog in a while, but will start up with comments, announcements, and contests again. Let’s start talking about MONEY!!
Everyone wants to save a dollar when they can and, of course, that’s true for business owners, also.
As more and more people stop carrying cash and pull out that piece of plastic to pay for everyday purchases, the bottom line of retailers is affected. Yes, retailers pay fees to the banks for debit cards as well as credit cards. Writing checks is becoming a way of the past. Banks even charge a fee is a bank deposits a check! Naturally, we prefer cash, but “Plastic” is here to stay!
Years ago, when I was still owner, I picked up a “big time” (I’m talkin’ – MAJOR!) buyer of comics from a competitor because he did not accept credit cards. The other owner was trying to keep down his overhead. Result, I got some nice sales and the other store is no longer in business. Nowadays, almost everyone accepts plastic. But not everyone is loving it! I go to a lot of auctions and most charge a “buyers’ fee” that is reduced by 3-5% if we pay cash. Some do not accept cards at all. Have you noticed that some gas stations offer a discount for cash sales? Asking for minimum purchases and adding a surcharge for using a card are illegal practices. That’s why we have a sign by the register asking that you try to refrain from using a card for an amount less than $10. Credit card processors hit stores with a swipe fee either way (debit or credit) and then a percentage on top of that if a credit card is used. Some banks offer incentives to card holders to use their debit cards as credit cards so they can get a bigger piece of the pie! If your purchase is over $10, we would prefer using debit cards when possible. Thanks.
WARNING: potential advertising alert!
BUSINESS OWNERS are aware that there is a lot of competition out there for getting that processing fee. Companies are constantly calling trying to get us to allow them to be our credit card processing provider. Most companies offering the service to business owners are actually middle men. The best rates go to those who have the highest volume and/or average sized sales. Independent business owners have a daunting task to find the provider with the best available rates.
Joe is no fool and has done a lot of homework. Combining with other comic retailers under the ComicsPro group, it seems Captain Blue Hen Comics has the best rate possible for a store of its size. He has had two comparisons done recently and could not be offered better rates.
As it turns out, ComicsPro is avoiding the middle men and going with First Data, one of the major primary providers.
Here’s the advertisement part: My son, Paul, is not only is a licensed realtor with the Realty Executive Solutions Group of Keller Williams, he is an agent for merchant services powered by First Data. If you are an independent business owner looking to save on credit card fees, he can probably help you. I know, I know, going through money matters can be very exhausting, but it’s not like buying insurance. This will SAVE you money. Naturally, you will need a recent, typical monthly statement showing your credit card processor fees so that he may use to do a comparison. That’s it! After he gets a chance to crunch the numbers, he will let you know what he can do for you. Again, everyone wants to save a buck, but also why give the business to someone you have no connection to? If interested, drop off your business card at the shop and I’ll get it to Paul or call him directly at 1(302) 383-7998. Thanks, again !
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