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Old 02-01-2014, 11:05 AM
PenningsLandscaping PenningsLandscaping is offline
LawnSite Bronze Member
Join Date: Jul 2013
Location: New Jersey
Posts: 1,836
Originally Posted by PenningsLandscaping View Post
2% of 10,000 is $200.

do you know what 100% of 0 is? 0. Which is exactly what you have. Factor the CC fees into your estimates and prices.

You don't have to bill every statement on a card. But having one on file, for these situations, already pre-authorized makes your life easier. You're pissing more money away on collection efforts and way more time than the $200 in credit card fees will cost you.[/

I'm leaning that way but I would be giving away more profit. If for easy math I did 100k a year and had a 30 per margin. The cc cost would be 2k. 30k profit the 2k would be between 6 and 7% of your profit. To raise my prices by that much plus my reg raise on materials when I'm on the high end price wise would be suicide. When the numbers get over 500k that's a lot off the top. But I hear you. Maybe anyone who is late once goes to cc and look at the history on all others and keep them on checks.
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Late is one thing, thee months late and saying "I need to reread this contract" is a whole other. Again, I'm not saying all cc, that's just too much off the top. But you did 100k, with 10k out. That's such a small percentage in cc fees. Like .02%. If you're charging late fees, they'll cover cc costs and are cheaper than collection agencies.
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