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Will credit card acceptance help my business?

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Have you thought of offering your own financing plans? You could potentially make more in interest than in the margin built into your bid, if you can handle the carrying costs. CC's run MAJOR interest rates, if you did half the interest rates they whack, you'll be hooked!

 

Talk to a local (LMAO!) banker or your atty about the possibility.

 

Think about it, credit card companies are HUGE because they make HUGE money. Afterall, it is all about the money, right? Making more $$ for every buck or hour you lay out there is always the goal.

 

BTW, why ar you charging so much less than the big box stores? headscratch.gif They generally have sucky contractors work for them, from everything i've seen. Cheap materials, non-english speaking labor, etc.

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View Postuyou would think a signed contract would suffice wouldnt you? But I ma here to tell you , it doesnt. Weve fought the fight, and lost. So now we dont accpet a CC for those services. If you ever book and event and wonder why a hall or caterer wont take a CC, thats why.

 

 

View PostIt does not work that way. You have no experience. Why would you even contradict a business person who states that they have experience?

 

 

sorry i may not have personal experience. i don't think i contradicted someone's experience. i just said not sure how you could lose with a signed documentation.

 

besides, i have a boss, the owner of the store i work for and several other businesses. there have been several cases with his other businesses and a couple with ours that dealt with people fighting charges. i think since i've been with him he's only lost a few at most. not sure how he does it but he does win the majority of them.

 

than again there's not much he loses. not even when he's fired someone and was able to keep them from collecting unemployment.

 

View Postcause this is the internetz, and we can know things we don't

 

 

yeah cause i've never seen anyone on this site offer opinions on things they know nothing about.

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View Postsorry i may not have personal experience. i don't think i contradicted someone's experience. i just said not sure how you could lose with a signed documentation.

 

 

besides, i have a boss, the owner of the store i work for and several other businesses. there have been several cases with his other businesses and a couple with ours that dealt with people fighting charges. i think since i've been with him he's only lost a few at most. not sure how he does it but he does win the majority of them.

 

 

than again there's not much he loses. not even when he's fired someone and was able to keep them from collecting unemployment.

 

 

yeah cause i've never seen anyone on this site offer opinions on things they know nothing about.

 

The cost of fighting a CC company with a STAFF of attorneys is hardly worth it. A morning of atty time would eat up the loss in most cases.

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I agree with you. I dont own the comapny, im the controller and buisiness manager, so its my job to handle this. thats my exp in the last 6 yrs. Im just passing it along, I dont think you contradicted me at all. IF you have other questions let me know. btw .4% is OUTSTANDING if its real, make sure its nto some teaser rate.

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View PostThe cost of fighting a CC company with a STAFF of attorneys is hardly worth it. A morning of atty time would eat up the loss in most cases.

 

exactly....they know that......and they use it like a sledge hammer.

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View PostThe cost of fighting a CC company with a STAFF of attorneys is hardly worth it. A morning of atty time would eat up the loss in most cases.

 

 

sorry i don't know how he does it. i just know he does. even had to make and sign a statement once when i first started working for him. maybe i can find out from him how he does it.

 

i know all of his businesses are retail. i think the one he has the most problems with this issue is the florist his wife runs.

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View PostI agree with you. I dont own the comapny, im the controller and buisiness manager, so its my job to handle this. thats my exp in the last 6 yrs. Im just passing it along, I dont think you contradicted me at all. IF you have other questions let me know. btw .4% is OUTSTANDING if its real, make sure its nto some teaser rate.

 

It's more than outstanding, it's unbelievable. Something's gotta be fishy . . .

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View Postthat's really him....he gave up the restaurant biz to go raise cattle icon14.gif

 

he needs to send me some of those boos hogg cigars and next time IM in west palm ill have to hang with him.

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View PostHave you thought of offering your own financing plans? You could potentially make more in interest than in the margin built into your bid, if you can handle the carrying costs. CC's run MAJOR interest rates, if you did half the interest rates they whack, you'll be hooked!

 

 

Talk to a local (LMAO!) banker or your atty about the possibility.

 

 

Think about it, credit card companies are HUGE because they make HUGE money. Afterall, it is all about the money, right? Making more $$ for every buck or hour you lay out there is always the goal.

 

 

BTW, why ar you charging so much less than the big box stores? headscratch.gif They generally have sucky contractors work for them, from everything i've seen. Cheap materials, non-english speaking labor, etc.

 

I wish I had the means to extend delayed payments to people. I cannot afford it personally. I have tried, in the past, to work with a bank program that offered loans to my prospective clients. However, it adds a LOT of time on my end to deal with all that paperwork and its time/money I often cannot recoup. Now I usually recommend people visit their local bank and apply for small construction loans.

 

 

As far as why I charge what I do... its easy. I like to be able to sleep at night. I charge what I feel is fair. Not my fault that the box stores are unrelenting in their attempts to take every last cent of their customers. kooky.gif As an example... I was at a house the other day to do some trim work. The owners were looking at window flyers and asked me if I thought they were getting a good deal. They showed me the windows they'd be getting and told me it would be $600 per window installed. I could install the same windows for $300 and pocket $50 an hour doing it. That's after my costs for insulation, caulking, disposal, etc. Yes, I got the job after they heard that.

 

Typically I charge $30 an hour right now, in this economy. At most, in my area, I have charged $40 an hour. I just don't get why anyone would accept the doubled prices especially when they have no idea who is actually coming to their house to do the install. When I go bid a job, the people get to meet me and know that I'm the guy thats going to be responsible for their home. Go to a box store and you're just talking to the middle man. I don't get it.

 

The other thing that burns me about the box stores is how they charge so much more for materials than the smaller lumber yards. I use only local yards and yet buy my material for a minimum of 5 to 10% less than the box stores... and its quality material, not crap. I could go on for days...

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View PostIt's more than outstanding, it's unbelievable. Something's gotta be fishy . . .

 

yeah, I'm thinking that must just be the rate the credit agency is getting... then add on the fee each creditor (visa, mc, discover) charges on top of that. I already sent an email to the people to verify. But I am almost certain thats going to be the case.

 

 

Pretty much a definite that I won't be offering credit card acceptance now. smile.gif

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View Postsorry i don't know how he does it. i just know he does. even had to make and sign a statement once when i first started working for him. maybe i can find out from him how he does it.

 

 

i know all of his businesses are retail. i think the one he has the most problems with this issue is the florist his wife runs.

 

FYI, my post was not meant to beat on you in any way! Just saying it's often useless to fight it.

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