Accepting Credit Card Payments Really Isn't That Hard!!!

Discussion in 'Business Operations' started by nherweck, Sep 28, 2005.

  1. nherweck

    nherweck LawnSite Senior Member
    Posts: 321

    Hi everyone, As most of you know, I'm only 16, but that doesn't stop me from working my business as well as I can. My business IS (yes, I repeat...IS) licensed (so no, you don't have to be 18) and I DO (again, DO) have a BUSINESS CHECKING ACCOUNT. Because I have just those two items, I can now accept credit cards!!! I chose to acceptMastercard, Visa, and American Express. I didn't choose to accept Discover as it would add additional fees. I chose the easy and cheap way to accept and it works WONDERFULLY. If anyone would like the link to my account processor..let me know and I'll send you the referral as I'll get a gift card if you sign up.

    And remember...if you can accept credit cards..you can make more money off your clients! People are willing to pay up to 35% more if they can pay with an easy method of payment, such as a credit card. I've picked up two extra clients this past month for one reason...because I accept credit cards!!! Most LCOs out here do not, and because they don't, I get the possible clients! I used to charge $30 for a few of my yards, but now I charge their neighbors $40 to service them, that is a 25% increase! I'm not lying or setting you up at all...it is 100% worth it.
     
  2. Howard Roark

    Howard Roark LawnSite Senior Member
    from Texas
    Posts: 805

    Good for you starting so early.
    What kind of fees are you paying on the CC's with your current company?
    Please post the link.

    Thanks!
     
  3. firecapt13

    firecapt13 LawnSite Member
    from NC
    Posts: 96

  4. nherweck

    nherweck LawnSite Senior Member
    Posts: 321

    I went ahead and referred you. You should receive an email no later than by tomorrow evening.
     
  5. nherweck

    nherweck LawnSite Senior Member
    Posts: 321

    I paid $39 to set up.
    6.99 monthly statement fee
    3.85% on MC & Visa
    3.25%(I think) on Am. Ex.

    This program is a LOT cheaper in the long run if you plan on processing less than 10,000 dollars a month.

    Post your email or PM me with your email address and I'll have them send you the referral letter.

    THANKS!
     
  6. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Posts: 4,900

    Out of curiosity what are the percentage of clients that elect to use CC ? and at what point does the gain in customers offset the added fees ? The 6.99 is a reacurring monthly fee whether its used or not so that would be another factor invovled in the equation.
     
  7. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    No offense but everytime I think of cc's I envision myself doing MORE work for free.
    For example:
    IF 20 customers / month pay this way, say the average is 35 dollars:
    700 x 4% = $28 plus 7 = $35

    So, ONE job out of those 20 is free. Perhaps with more payments it gets cheaper, but $35 / 700 is 5% and you won't get below 4% so you're stuck somewhere between the two regardless.

    By the way, whoever said people will pay up to (watch out, keywords) 35% more for the priviledge of using a cc is full of schitt.
     
  8. nherweck

    nherweck LawnSite Senior Member
    Posts: 321

    About 25% of my clients now pay with Credit. Even with only getting TWO additional customers at $5 more than you would usually charge would offset the fees. And by the way everyone, there are NO per transaction fees.
     
  9. nherweck

    nherweck LawnSite Senior Member
    Posts: 321

    I'm sorry you believe that, but I'm not joking. I honestly have been able to charge new clients more than I've ever been able to charge before. I used to charge $35 for 15,000 sq. ft. Now I charge $45 a week including the same services, they just found out about our new credit policy. It honestly does work out.
     
  10. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Posts: 4,900

    I think your just trying to get yourself a free gift card by refering others.
    I've taken cards for to long to believe that 25% or 35% more for the service also.
    and then you say this
    Those are transaction fees :dizzy:
     

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