Would you spend $1,000?

Discussion in 'Lawn Mowing' started by OnMyOwn, Aug 30, 2005.

  1. OnMyOwn

    OnMyOwn LawnSite Senior Member
    Posts: 372

    Would you spend $1,000 year-to-date to drop your overall DSO from 32 days to 14? (DSO = Days Sales Outstanding, or Receivables) I began accepting visa/mc/amex/discover in the spring. I have my client's cards on file and process them on a daily basis, as service occurs. I have to pay a little, but my cash is turned in (2) days time by the bank. You usually look at a monthly fee plus a 3% discount rate on transactions. My clients love it and I look at it like this. A normal $35.00 cut brings in about $1,000 per season. My cost of turning my money quicker is a (20) minute investment of my time weekly, for one season, one cut.

    For those not accepting charge cards, I would strongly urge you to consider doing so. It has saved my rear-end several times on payment due dates and payroll.

    Good Luck
     

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