Establishments that only take cash | Page 3 | TigerDroppings.com

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TigerSpy
LSU Fan
Baton Rouge
Member since Sep 2006
9820 posts

re: Establishments that only take cash


They don't do it for ATM fees, they do it to launder money and tax evade.





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bdevill
LSU Fan
Baton Rouge, LA
Member since Mar 2008
8720 posts

re: Establishments that only take cash


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.






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Politiceaux
LSU Fan
Member since Feb 2009
15581 posts
 Online 

re: Establishments that only take cash


Differentiating between credit and debit cards when talking about cash only places is quite a moot point.
quote:

And if you don't want to pay cash at places that only take cash.. just go somewhere else.. Or eat at home.
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.






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bdevill
LSU Fan
Baton Rouge, LA
Member since Mar 2008
8720 posts

re: Establishments that only take cash


Well if you'd read accurately, you're response might not be so defensive..

quote:

business owners who don't take plastic are short-sighted


Moron.



This post was edited on 11/29 at 4:38 pm


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Count Chocula
Yale Fan
Tier 5 and proud
Member since Feb 2009
49511 posts

re: Establishments that only take cash


quote:

Personally, it angers me that they're too cheap to pay the credit card processing fees
That aint it. The IRS cant track cash...






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joeleblanc
Member since Jan 2012
941 posts
 Online 

re: Establishments that only take cash


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.






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rbdallas
LSU Fan
The BGO Store
Member since Nov 2007
5919 posts

re: Establishments that only take cash


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.







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TIGRLEE
LSU Fan
North Louisiana
Member since Nov 2009
21522 posts

re: Establishments that only take cash


Lose business.
Fact.






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TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
128519 posts

re: Establishments that only take cash


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 bullshiteting somebody ..



This post was edited on 11/30 at 7:09 am


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saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
21196 posts
 Online 

re: Establishments that only take cash


quote:

beg to differ. know a po-boy shop in my town.
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






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notiger1997
Member since May 2009
23536 posts

re: Establishments that only take cash


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.






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nwacajun
LSU Fan
Cracker County NW AR
Member since Dec 2008
47 posts

re: Establishments that only take cash


you have no clue what you are talking about





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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
71382 posts
 Online 

re: Establishments that only take cash


quote:

you have no clue what you are talking about



what percentage of your sales are mastercard? what percentage do you pay them?






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TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
128519 posts

re: Establishments that only take cash


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+ ..






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TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
128519 posts

re: Establishments that only take cash


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 ..






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TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
128519 posts

re: Establishments that only take cash


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 at 9:11 am


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BRgetthenet
New Orleans Saints Fan
Golf Board Smash Lab™ CEO
Member since Oct 2011
63349 posts

re: Establishments that only take cash


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.






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notiger1997
Member since May 2009
23536 posts

re: Establishments that only take cash


I thought he already confirmed that it was total credit card sales.







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TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
128519 posts

re: Establishments that only take cash


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 ?






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TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
128519 posts

re: Establishments that only take cash


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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