It’s officially Cyber Monday, and while most consumers immediately think of all the deals they’re going to be getting at world marketplace sites like amazon and ebay, many of us who also own our own businesses are excited to see what sales roll in from our online storefronts. Those of us who are lucky enough to own brick-and-mortar establishments as well are looking over our sales records from Small Business Saturday… how did everyone do?
Owning a business comes with many expenses, and with those come decisions. One of the big ones that I’ve heard discussed in recent years is the decision of whether or not to accept credit cards, and which ones to offer. Credit card companies charge a high premium to businesses in order to accept them, and especially on purchases with low profit margins such as convenience food and beverages, that can really take a toll on the bottom line of a business. It’s important to think about whether or not it’s worth it in your current market – and if you do decide to accept credit cards, trying to find a way to limit the cost of credit card transaction fees.
One way to do this is to use a credit card processing company like Targeted Merchant Solutions that charges a flat fee, and pays out the different credit card companies themselves. This will certainly make things a lot easier for the business owner, and often times a lot less expensive as well. While the beauty of owning your own business is that it’s ultimately up to you to decide important matters such as whether or not to accept credit cards, Targeted Merchant Solutions has complied a fun infographic to let you know the many ways that credit card sales can boost your business.