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Started By
Message
re: Higher end places saying they will insert a 3% surcharge for credit cards
Posted on 3/7/24 at 3:07 pm to LoneStar23
Posted on 3/7/24 at 3:07 pm to LoneStar23
quote:
know that scares people though
Yes it does, there is plenty of data backing up their fear too. The fact that multiple bankers tell me to run my debit card as credit says enough imo.
0
Posted on 3/7/24 at 3:20 pm to Y.A. Tittle
quote:
Am I offbase here?
No, you are not off base, the establishment is. The simple solution is to not do business with places that are profiteering like this. I have walked out every time I see this posted in a restaurant, and it is not just the higher end places, and I make it known why I am leaving. They want us to pay for $20/hr. wage, tip everyone in the building, then profit on a bank charge they agreed to? frick these a-hole restaurants. Stay home, cook your own food, it will be better 90% of the time, and better for you 100% of the time.
This post was edited on 3/7/24 at 3:21 pm
Posted on 3/8/24 at 3:48 pm to Y.A. Tittle
Problem is they are raising the cost of food items to you (the consumer) - AND - also surcharging you 4% for using a CC.
Win/Win for them and lose/lose for you.
Win/Win for them and lose/lose for you.
Posted on 3/9/24 at 10:14 am to Y.A. Tittle
You know what is a reasonable profit. Used to be 10-20%. Now I think retailers mark their stuff up 50-100%. And blamed COVID but now that COVID is over we don’t see prices going down!
A $25 hamburger is absurd when I can tell you that the rancher is not getting much more for their cow than they have in the last 5 yrs. Shrimpers are still getting prices for their shrimp that they got 10 yrs ago. So there is no reason for the huge markup in these items at the middleman level
A $25 hamburger is absurd when I can tell you that the rancher is not getting much more for their cow than they have in the last 5 yrs. Shrimpers are still getting prices for their shrimp that they got 10 yrs ago. So there is no reason for the huge markup in these items at the middleman level
Posted on 3/9/24 at 10:28 am to Sixafan
quote:
And blamed COVID but now that COVID is over we don’t see prices going down!
Because the cost of goods, labor, insurance, maintenance, rent and pretty much anything else you can think of has only went up since Covid
Posted on 3/9/24 at 10:42 am to Sixafan
quote:
I can tell you that the rancher is not getting much more for their cow than they have in the last 5 yrs
Maybe that's the case sometimes in cycles over time, but it's not the case right now.
Cow calf operations are getting record high prices. From what I hear from my cattlemen friends, everything is headed to the feed lots. Record high prices.
Just try to buy replacement heifers if you want to expand right now. We haven't seen the top of the market yet either. If you see a good price on beef in the meat case, buy it now for your freezer.
Posted on 3/9/24 at 10:55 am to Y.A. Tittle
quote:
Higher end places saying they will insert a 3% surcharge for credit cardsby Y.A. Tittle
Of course we always knew the fee was “baked into” the price, but these fees are changing the dining experience into an accounting experience.
I want to dine at restaurants that put the food first. Let the payment be an afterthought, not something that pisses off the diner when it suddenly seems like Spirit Airlines took over the billing.
Posted on 3/9/24 at 10:55 am to Professor Dawghair
Does this look like ranchers are making a killing? I was getting 1.59- 2.20 per pound 10 yrs ago
SALE DATE:
Average Report For March 4-5, 2024
Cattle Per Pound
COWS
UTILITY:
1.11-1.29
CANNERS:
.80-1.10
FAT COWS:
.90-1.14
THIN COWS:
.35-.78
SLAUGHTER BULLS:
1.25-1.52
PAIRS:
$900.00-$2,100.00
BREDS:
$750.00-$1,900.00
STEERS 200-300 LBS:
2.35-4.00
STEERS 300-400 LBS:
2.20-3.90
STEERS 400-500 LBS:
2.00-3.55
STEERS 500-600 LBS:
1.85-3.05
STEERS 600-700 LBS:
1.10-2.85
HEIFER 200-300 LBS:
2.20-3.55
HEIFER 300-400 LBS:
2.10-3.45
HEIFER 400-500 LBS:
1.80-3.00
HEIFER 500-600 LBS:
1.80-2.75
HEIFER 600-700 LBS:
1.50-2.50
Horses Per Head
HORSES:
$60.00-$900.00
Hogs Per Pound
SOWS:
.40-.60
BOARS:
.02-.05
TOP HOGS:
.70-.80
PIGS:
1.00-1.35
Sheep Per Head
EWES:
$75.00-$125.00
RAMS:
$140.00-$180.00
LAMBS:
$125.00-$185.00
Goats Per Head
BILLIES:
$140.00-$180.00
NANNIES:
$75.00-$135.00
KIDS 40-60 LBS:
$60.00-$100.00
Site by Dovetail Digital Marketing - Lafayette, Louisiana Website Design & Development
© 2024 Dominique's Livestock Market
704 West Gloria Switch Rd, Lafayette LA 70507
Phone: 337-896-3400
SALE DATE:
Average Report For March 4-5, 2024
Cattle Per Pound
COWS
UTILITY:
1.11-1.29
CANNERS:
.80-1.10
FAT COWS:
.90-1.14
THIN COWS:
.35-.78
SLAUGHTER BULLS:
1.25-1.52
PAIRS:
$900.00-$2,100.00
BREDS:
$750.00-$1,900.00
STEERS 200-300 LBS:
2.35-4.00
STEERS 300-400 LBS:
2.20-3.90
STEERS 400-500 LBS:
2.00-3.55
STEERS 500-600 LBS:
1.85-3.05
STEERS 600-700 LBS:
1.10-2.85
HEIFER 200-300 LBS:
2.20-3.55
HEIFER 300-400 LBS:
2.10-3.45
HEIFER 400-500 LBS:
1.80-3.00
HEIFER 500-600 LBS:
1.80-2.75
HEIFER 600-700 LBS:
1.50-2.50
Horses Per Head
HORSES:
$60.00-$900.00
Hogs Per Pound
SOWS:
.40-.60
BOARS:
.02-.05
TOP HOGS:
.70-.80
PIGS:
1.00-1.35
Sheep Per Head
EWES:
$75.00-$125.00
RAMS:
$140.00-$180.00
LAMBS:
$125.00-$185.00
Goats Per Head
BILLIES:
$140.00-$180.00
NANNIES:
$75.00-$135.00
KIDS 40-60 LBS:
$60.00-$100.00
Site by Dovetail Digital Marketing - Lafayette, Louisiana Website Design & Development
© 2024 Dominique's Livestock Market
704 West Gloria Switch Rd, Lafayette LA 70507
Phone: 337-896-3400
Posted on 3/9/24 at 11:04 am to Sixafan
quote:
Does this look like ranchers are making a killing?
If you're a rancher, you would know better than me if you're making a killing compared to 10 years ago.
I'm not in the cattle business, but all I hear from my friends who are lately is how strong the market is right now and how much stronger it is likely to get later this year. They say the national herd is at its lowest point in decades.
Was at a meeting this week with cattlemen and it was all they talked about. Some wanted to expand but replacement costs are too high because everything is going to market according to them because of how strong the market is.
Again, sounds like you're the expert, but articles like these are what I'm taking about.
"Cattle and beef prices hit the stratosphere"
“In the meantime, industry profitability will continue to swing in favor of the cow-calf producer as excess feeding and packing capacity chases a declining supply of feeder cattle and calves,” according to CattleFax’s industry outlook.
This post was edited on 3/9/24 at 11:33 am
Posted on 3/9/24 at 12:31 pm to Sixafan
Demand is ok and supply is low. And everyone can see that store bought steak went from single digits to double digits. Like most things since Biden took office and started spending like a drunk cowboy in pay day.
But wages have not keot up and price to the farmer and rancher has not either. It hasn’t gotten worse but it’s the middleman and retailers that are making windfall profits. Only gasoline seems to rise and fall like it should with market forces. Big bad oil companies!!!
But wages have not keot up and price to the farmer and rancher has not either. It hasn’t gotten worse but it’s the middleman and retailers that are making windfall profits. Only gasoline seems to rise and fall like it should with market forces. Big bad oil companies!!!
Posted on 3/9/24 at 11:05 pm to Y.A. Tittle
Quick question:
Anyone here know what the average profit margin % is for the type of restaurants described here?
Anyone here know what the average profit margin % is for the type of restaurants described here?
Posted on 3/10/24 at 10:12 pm to EMILIO
(no message)
This post was edited on 3/11/24 at 12:47 pm
Posted on 3/11/24 at 11:48 am to Sixafan
quote:
Many states have laws that allow them to charge up to 4-5 percent for use of a credit card BUT only if it’s disclosed by a sign at the register.
I never even notice a register at most restaurants..
Posted on 3/12/24 at 6:15 am to Y.A. Tittle
The problem is places didn't charge customers the 3% way back, decades ago, in the beginning whenever these charges started. Why should a restaurant have to pick up the tab for you to use your credit card?
The majority of people do not know that that, wherever you use your card, there is a service fee. A business should never have to eat that fee.
I don't see it any different than an ATM charging you for a transaction. Everyone knows you're going to get dinged but those parameters were set from the get go when people used ATM's. If businesses did the same, from the get go, people wouldn't be complaining.
Just use your debit card.
The majority of people do not know that that, wherever you use your card, there is a service fee. A business should never have to eat that fee.
I don't see it any different than an ATM charging you for a transaction. Everyone knows you're going to get dinged but those parameters were set from the get go when people used ATM's. If businesses did the same, from the get go, people wouldn't be complaining.
Just use your debit card.
Posted on 3/12/24 at 7:20 am to YNWA
quote:
The majority of people do not know that that, wherever you use your card, there is a service fee. A business should never have to eat that fee.
Haha, what? Why shouldn't a business have to eat that fee? It is a convenience for them as much as it is a convenience for CC users.
Ask any business owner if they would rather go cash only or pay x% to allow credit cards. Same answer 100% of the time.
Posted on 3/12/24 at 7:38 am to YNWA
quote:
A business should never have to eat that fee.
So customers should pay for all of the business' expenses? GTFO with that shite.
They should just bake the CC fee into their price.
Posted on 3/12/24 at 9:22 am to YNWA
quote:
The problem is places didn't charge customers the 3% way back, decades ago, in the beginning whenever these charges started. Why should a restaurant have to pick up the tab for you to use your credit card?
The majority of people do not know that that, wherever you use your card, there is a service fee. A business should never have to eat that fee.
They should just treat it as they do every other overhead expense to them, just bake it into the price of the items on the menu.
When you see your receipt do you want to see:
x-utilities
y-staff salaries
z-cost of food
etc...
Posted on 3/15/24 at 10:31 am to MetrySaint24
quote:
They don't even tell the businesses that the 4% is considered revenue and sales so the business has to pay sales tax and income tax on that extra 4% of revenue.
Bumping this thread for a follow up question - why is the 4% not considered an expense that is deductible ? Seems like it would be deductible and not taxable.
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