It’s no secret, people love paying with credit cards. A recent survey showed that the public favored cards over cash 3:1. It’s convenient, easy and saves pennies jingling in your pockets. Naturally, the acceptance of cards at a retail establishment is great for the consumer, but also means dealing with processing fees, the price of doing business in the modern age. Are you ready to say goodbye to unnecessary credit card fees? Here’s how a Cash Discount Program can help you.
Many smaller businesses are now opting for the “cash discount program” option. The seller offers a discount to those customers paying cash over card, an incentive that can prove very fruitful. The main bonus is that it can reduce credit card processing fees tenfold. If you don’t process the card, you don’t have to pay for the service. It is easier to explain to the customer and is perfectly legal when adhered to correctly.
Of course, the main battle you will always come across in implementing such a program is that for the most part, people don’t carry cash anymore, in a CNBC study in 2017, it was reported that 75% of Americans carry $50 dollars or less on them at any given time, With millennials at the forefront of the plastic revolution. However, with the recent boom in Farmers Markets, Artisanal goods and a return to supporting home grown, local businesses, a correctly marketed cash discount program could see your business transactions grow exponentially.
As with every move when running your own business, make sure that the program will work for you and the product you are selling. A cash discount program may not be for you. If you think it might be the perfect fit for and your business, It can save you thousands of dollars in processing fees.
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It’s a great time to be a small business or restaurant owner if you are a millennial. A recent study showed by the SBCD showed that 49% of Millennials want to start their own business in the next three years. Over half would say goodbye to the daily grind to start their own business with the right resources.
Good job there are plenty of Point of Sale systems to help you get ahead of the curve.
So, why jump on the entrepreneurial wagon? How can a great POS System help me?
INDEPENDENCE. The biggest plus to being your own boss is Independence. You make the decisions; you choose what you do and when you do it. It is important to arm yourself with technology that can grow with you. A POS system can add devices easily. Opening an additional stall at a farmer’s market? Adding a pop up shop during peak season? POS can help you with that, you don’t even need more hardware. You can do it from that smartphone of yours!
CONTROL. Control is a wonderful thing. As a business owner, from concept to creation every inch of the business is in your hands. Complete immersion in your business can be thrilling and overwhelming, so why not use POS to work FOR you. POS improves inventory visibility, helps track sales and works with you to manage total counts and shelf inventory. With a system that can track product to such a high caliber, you will be able to make future inventory predictions more accurately.
FLEXIBILITY Perhaps the biggest plus to running a small business is flexibility. Smaller staff sizes allow businesses to develop personal relationships with the customer, leading to repeat business. With a system like POS you can make sure the customer experience is the top priority. Freeing up employees from time consuming book keeping to focus on activities related to boosting clientele service. Faster checkouts and easy to use systems have customers leaving already planning their next visit.
Sound like it’s for you? For more information on the systems available from CoCard, head to our main website at www.cocard.info.Read MoreRead More
The Beauty industry is growing, fast. If you have chosen to open a Salon, you may have picked the best time to do it. You’ve already done the hard part. Make the business plan, found the space, curated an environment for your clientele that best reflects you and the business you care so much about. The next step should be easy, provide excellent customer service that will keep your door swinging time and time again.
In business, timing is everything. Now might be the perfect time to consider a Point of Sale system instead of the usual electronic cash register. It is true that when starting a business sometimes the easiest option that poses the least financial burden seems like the best option. However, if longevity and efficiency is what you’re looking for. A POS system might just be for you. So, let’s look at the advantages a POS system could bring to your Salon so you can focus on the beauty side of things.
These are just a few of the many ways you can make a POS system work for you. For more information on the systems available from CoCard, head to our main website at www.cocard.info.
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While COCARD’s REVONU POS is already well known for powering payments at restaurants, salons, and retail establishments, it also helps Holy Cross Monastery manage their gift shop inventory, payments and book sales.
Brother Scott: Our system is in the gift shop where we sell a mixture of books, religious gifts, candy bars and snacks.
Brother Scott: We have been working with COCARD for a while, primarily because the previous POS system we were using had recommended COCARD as a merchant services provider. Also, when EMV came about we were looking at how to accommodate that. We had the option to stay with a previous system or change to what COCARD was recommending. COCARD’s support had always been quite good so we felt confident in going with their recommendation, which was REVONU POS.
Brother Scott: The previous software we used had been minimally updated since the 90’s. So, now that we have been able to use the newer technology, particularly the cloud based software to access the back office from anywhere, our store has been running a lot smoother.
Brother Scott: Again, the newer technology and back office cloud integration is great! Also the staff in the store really like the ease of the touch- screen functions on the terminal.Read MoreRead More
Point of Sale technology enables businesses to improve efficiency, productivity and transparency by tracking sales, cash flow, food/ingredients and inventory as well as simplifying bookkeeping.
POS solutions make it easier, especially during peak hours, for the tracking of high volumes of cash, credit card sales and inventory. A good point of sale system cuts down on theft within a restaurant because each server is accountable for their sales both cash and credit card.
Here are more POS functions that could help you run your business:
POS systems consolidate the whole of your restaurant or retail business with different features to help keep your business streamlined, efficient and transparent. Whether you own a restaurant or a retail store we have a point of sale solution for your business. Android, Windows, iPad, wireless, mobile and pay at the table, solutions, let’s talk about how a point of sale can help you manage your business.Read MoreRead More
What’s better then FREE – not much! Check out what’s free and let us help you grow your business!
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