Used Restaurant Equipment For Sale
A few simple best practices for restaurants to take credit cards and other forms of payment to boost the bottom line.
Boosting Sales
In our world today, even a single cent counts so by adding them to your bottom line is also a big contribution. Are are some steps that will increase your profits, by boosting your sales, reducing debit card fees and expenses, and most of all block theft.
In the food service industry, if you're running a restaurant point of sale system then this simple tips can greatly help you grow your business!
Checks
Checks are still widely used, especially among older customers. So if you're still not accepting checks, better start soon. There’s equipment that will scan the check as quickly as a credit card, check out and measure them against a nationwide database of bad check writers, electronically transfers the money to your account, and guarantee you receive your funds within a few days. In addition, the cost is typically lower than for credit cards and could add 10-15 percent to sales—possibly more if seniors make up the majority of your customers.
Accept all Cards
If you do accept credit cards, you're probably accepting Visa and MasterCard already. What about Discover and American Express? The latter, in particular, generally accompanies larger transactions. If you’ve hesitated because the fee is higher, reconsider—a 1% difference may not look worth it for you, and because American Express transactions are often larger than those of other cards, you’ll make it up in gross profit. Furthermore, it helps keep your customers coming back because they know that your business is accepting all forms of credit cards.
Researching Helps
Most merchants think their fees are 1.69% plus an additional $.19 because that’s their qualified rate on a pricing program tier. Though fewer than 20 of 100 transactions receives low qualified rate and all the rest downgrade and cost one, two, or even three percent. By researching for alternate programs that offer different interchange rates that may end up saving more than what you've expected.
Understandable Statements
Neither you nor your bookkeeper would have to scratch the back of your heads over a complex credit card statement that just doesn’t fit. There are several companies that have made far more than usual efforts to simply their reports. You should be able to come into terms with your statement and rates within 15 minutes or less.
Online Reports
The post office is slow, don't wait any longer for them to deliver you a letter of disputing a charge. Using internet reporting, you will know within 24 hours, allows you to aggressively defend against chargebacks. With this kind of quick response, it can help increase your success rates and reduce your losses.
You or your bookkeeper shouldn’t have to scratch your heads over a complex credit card statement.
Use the Card Validation Value and Address Verification System. They are highly effective fraud screens proven to reduce losses, and by using them correctly, you obtain the lowest possible discount rate.
One more thing, you need to avoid vicious hackers by being PCI compliant. There are mammoth fines charged to merchants who are hacked, and they can drive you out of business. Take the time to read Visa’s report on noncompliant systems, you need to be alert in order to protect your business.
Taking Care Of Chargebacks
If you run an online business, either by internet orders or by phone, it's always a great idea to implement the “Verified by Visa” or “MasterCard Secure Code” plug-in on your web site. This can help eliminate the chargebacks on cardholder nonauthorization. The state of being legally obliged and responsible for these chargebacks is shifted away from you to the issuing card bank, and you qualify for the lowest discount rate available. This simple step could eliminate up to 80 percent of all chargebacks and increase your profits.
The author of this article is the VP of Customer Relations at POS-For-Restaurants.com with over 20 years experience helping restaurants nationwide increase their efficiency and bottom-line profits with restaurant point of sale systems.
You may visit POS-For-Restaurants.com for further understanding of how our national network of restaurant point of sale professionals can help your business achieve greater success in these difficult economic times.
Used Equipex GES/1 Waffle Maker - DEMO UNIT for Sale
|
|
George Foreman GGR50B Indoor/Outdoor Grill $119.99 GEORGE FOREMAN INDOOR-OUT- DOOR ELECTRIC BBQ GRILL *17.5" dia. *240 square inch cooking surface *Non-stick cooking surface *Center channel drains fat into large grease tray *Grill can be removed from the stand to cook indoor *Immersible with probe removed *"Mega Dome" lid with adjustable steam vent *Adjustable temperature control *Cool touch handles *Boxed *UL listed... |
|
|
KitchenAid Wire Whip $5.95 Kitchenaid stainless steel wire whip for stand mixers make fluffier whipped cream, soft angel food cakes, and countless other delicious items with the kitchenaid stainless steel wire whip. this item is ideal for incorporating more air into recipes that call for whipping. it fits a variety of kitchenaid stand mixers, and has a one-year full warranty. stainless steel ideal for incorporating air into... |
|
|
BUNN 32130.0000 3.0-Liter Lever-Action Airpot, Stainless Steel $44.75 The BUNN(R) 32130.0000 3.0 Liter Lever-Action Airpot in Stainless Steel ensures hot coffee for hours. With a brew-through insert and lever action for easy use, the airpot can hold up to 102-ounces (3 liters). 3-liter (102-ounce) capacity. Stainless steel lining ensures hot coffee for hours. Brew-through lid with lever-action for easy use. Easy to transport.... |
