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Bob Minney
01-16-2002, 01:44 PM
Has anyone had success taking only those customers who can pay by credit card. It would save me a lot of collection problems, plus I keep thinking why should I give credit to someone who can't get a credit card. A workable idea or too extreme?

KDJ
01-16-2002, 07:52 PM
Originally posted by Bob Minney
Has anyone had success taking only those customers who can pay by credit card. It would save me a lot of collection problems, plus I keep thinking why should I give credit to someone who can't get a credit card. A workable idea or too extreme?





Its a part of doing business, works very well for me.

heygrassman
01-16-2002, 07:58 PM
Are your write off's that high that losing the 2-2.5% for the Credit Card fees on all your payments is more less impacting to the bottom line than the write off?

KDJ
01-16-2002, 08:17 PM
Originally posted by heygrassman
Are your write off's that high that losing the 2-2.5% for the Credit Card fees on all your payments is more less impacting to the bottom line than the write off?


You can build that in your price format. Then when you take a check or cash its more profit. Also if you take cards you can auto bill, what a dream that is. Easy to pay for large landscape jobs man I could go on for ever. If you are looking for more work........
Take Credit Cards......!!!! My bottom line went up 40%


Its just business.

Bob Minney
01-16-2002, 08:24 PM
Originally posted by heygrassman
Are your write off's that high that losing the 2-2.5% for the Credit Card fees on all your payments is more less impacting to the bottom line than the write off? It's about a break even situation as far as the $ go. My mow income is about 40-50% of sales and 99% of collection trouble. 50-60% of income is aeration, power rake and shrub trimming, all of which is pay on completion or billed to long time customers that rarely cause me any payment problems. I lose 1/2 to 1 % a year to bad credit. It's the time and agrevation spent dealing with collections. And most of my slow pays come from the 20% of mow clients that are new to me. I know it is part of business but I'm looking for a solution that won't put off new customers. My thought was to let the banks do the lending, I'll know what my costs will be, (fixed amount) and eliminate a worry.