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re: Establishments that only take cash
Posted on 11/29/12 at 4:03 pm to mr. penguin
Posted on 11/29/12 at 4:03 pm to mr. penguin
They don't do it for ATM fees, they do it to launder money and tax evade.
0
Posted on 11/29/12 at 4:26 pm to Politiceaux
quote:
What? .... debit card
read again..
And if you don't want to pay cash at places that only take cash.. just go somewhere else.. Or eat at home.
Posted on 11/29/12 at 4:29 pm to bdevill
Differentiating between credit and debit cards when talking about cash only places is quite a moot point.
quote:I pay cash when I have it or if I think about it on the way. I go elsewhere when I don't. That's not some grand breakthrough, Aristotle. The point was that business owners who don't take plastic are short-sighted.
And if you don't want to pay cash at places that only take cash.. just go somewhere else.. Or eat at home.
Posted on 11/29/12 at 4:32 pm to Politiceaux
Well if you'd read accurately, you're response might not be so defensive..
Moron.
quote:
business owners who don't take plastic are short-sighted
Moron.
This post was edited on 11/29/12 at 4:38 pm
Posted on 11/29/12 at 4:32 pm to mr. penguin
quote:That aint it. The IRS cant track cash...
Personally, it angers me that they're too cheap to pay the credit card processing fees
Posted on 11/29/12 at 6:54 pm to Politiceaux
quote:
I pay cash when I have it or if I think about it on the way. I go elsewhere when I don't. That's not some grand breakthrough, Aristotle. The point was that business owners who don't take plastic are short-sighted.
I beg to differ. know a po-boy shop in my town. Cash/check ONLY. Only way he has ever done business and has a VERY good business.
Posted on 11/29/12 at 7:35 pm to joeleblanc
when it is all said and done, in small business transactions, a place could me paying 4 - 5 % for that credit card fee-transaction fee-processing fee and monthly settlement fee.
for a marginal business that's a lot.
for a marginal business that's a lot.
Posted on 11/29/12 at 8:21 pm to mr. penguin
Lose business.
Fact.
Fact.
Posted on 11/30/12 at 7:08 am to Y.A. Tittle
quote:
So, his business is doing really well?
Considering it is around 2 to 2.25% per swipe with a master card processor, that's around $3.5 million in JUST MC sales ..
Somebody's bullshitting somebody ..
This post was edited on 11/30/12 at 7:09 am
Posted on 11/30/12 at 8:10 am to joeleblanc
quote:Thats the difference between a town and a city. Unless the poboy place is so much better than the competition, I don't want to stop at the bank to get cash. I can find any number of places that will not require me to stop and get cash
beg to differ. know a po-boy shop in my town.
Posted on 11/30/12 at 8:29 am to saderade
quote:
Thats the difference between a town and a city. Unless the poboy place is so much better than the competition, I don't want to stop at the bank to get cash. I can find any number of places that will not require me to stop and get cash
Bingo.
I can find hundreds of great places that will take my card that serve damn good food.
Posted on 11/30/12 at 8:39 am to LSUAfro
you have no clue what you are talking about
Posted on 11/30/12 at 8:52 am to nwacajun
quote:
you have no clue what you are talking about
what percentage of your sales are mastercard? what percentage do you pay them?
Posted on 11/30/12 at 8:57 am to BRgetthenet
quote:
He's not doing 10 mil in sales, I know that.
My guess would be between 2-3, and that would put him around that 75K mark.
So I don't think that was b.s.
so when you say master card, you actually mean all credit cards .. correct ?? i.e. that $75K figure includes VISA, Discover, and American Express too ? Depending on the type of business, I could see a good one doing a gross of $3 million+ ..
Posted on 11/30/12 at 8:59 am to bdevill
quote:
If you have to use a credit card to eat, you don't deserve to eat.
i am sure most people are referring to debit cards and not credit cards .. hopefully ..
Posted on 11/30/12 at 9:06 am to nwacajun
quote:
you have no clue what you are talking about
which part are you referring to ?? because he hits it on the head on all points ... you pay between 2 and 3% on individual VISA, Master Card, and Discover swipes .. and between 3 and 4% of AMEX swipes to your credit card processor plus about a .35 per day close fee ... when he says master card accounts for about 1/3 of their sales, i assume he is referring to solely master card and not all cards ... so if this guy is paying his processor $75K a year JUST for master card transactions .. that is around $3.5 million (give or take) a year gross in JUST master card sales .. his $10 million figure is taking the other three cards into account ...
eta: if this is a restaurant we are referring to .. and it is a medium to high end place, $3.5 million basically equates to 539 table turns a week at an average of $125 a table .. that's a LOT of turns on the high end too ..
This post was edited on 11/30/12 at 9:11 am
Posted on 11/30/12 at 9:11 am to TigahRag
When this thread started, I jumped in it because the person I know threw that figure out once while we were about to pick up the check at another restaraunt.
It has to have been total credit card sales. I could see them doing north of 2.5 mil.
It has to have been total credit card sales. I could see them doing north of 2.5 mil.
Posted on 11/30/12 at 9:38 am to BRgetthenet
I thought he already confirmed that it was total credit card sales.
Posted on 11/30/12 at 9:52 am to BRgetthenet
quote:
When this thread started, I jumped in it because the person I know threw that figure out once while we were about to pick up the check at another restaraunt.
It has to have been total credit card sales. I could see them doing north of 2.5 mil.
i can see him doing that much in total credit card sales .. that makes sense ... but is this a restaurant ? or some other type of bigger average ticket business ?
Posted on 11/30/12 at 9:53 am to notiger1997
quote:
I thought he already confirmed that it was total credit card sales.
i see where he did it now .. that's my bad ..
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