Survival Tactics require a near-weekly assessment of whether to A. Raise Prices or B. Cut Expenses.
B. almost always is the Merchant's choice.
Cutting is painful and limiting. There are few places to pick yourself up an extra $2,000, $3,000 or more a year.
But there is one EASY place to look: Your Credit Card rates and monthly fees.
It is now possible to eliminate ALL, yes ALL, credit card Interchange Fees & Assessments for a monthly subscription fee less than $100.
Major hotels, events, gas companies have been doing it for years.
Now Small Business can get in the game and immediately chop off hundreds per month and thousands per year working with a knowledgeable agent and processing company.
You have seen it on a sales slip, especially from major hotels, concerts, events, gas.
It is a separate line item, "Transaction Fee" . . . or maybe . . . "Process Charge."
Normally 4 percent of sale or, small-ticket transactions, an extra 69 cents or so.
You also most likely have seen a sign by checkout: "Cash Discount."
This business is offering its customer a choice of payment - cash at list price or credit with an additional fee to cover all credit card charges. (Customers are coming to expect it).
It is a conversation I look forward to having with you. This is a major step to increased profitability for your business.
- Ken Picking