How Salons are Wasting Money…
Never has there been a time where every penny counts! From ridiculous energy prices to a costof-living crisis, businesses have it tough. One way most businesses could save money is reducing payment fees. Here’s how . . .
1. Understand Your Statement
If you take card payments, do you really know what charges you’re
paying?
Lots of card payment providers lure business owners in with low transaction rates – then add on multiple additional costs. This means you’re often not saving the money you thought you were. Have a look now. Dig out a recent statement. Check if you’re being charged for: set up fees, MMSC, authorisation fees, and PCI. If you are, these are additional charges your card payment provider is choosing to charge you.
2. Save Yourself Time (And Money)
With the right system, it’s possible for you to manage your whole business from one platform. Businesses can use an integrated EPOS system that links with your online accounting software such as Xero and QuickBooks. This means you can run payroll, settle invoices, manage bookings, and submit tax returns all in one place. It also means you can see, at a glance, your key business numbers.
From stock numbers, sales, revenue, and(most importantly) profit, you get a 360-degree overview of your whole business. All this information is available to you 24/7 anywhere in the world from the palm of your hand.
3. Reconsider your ‘cash only’ stance Is your business cash only? Is that because ‘Cash is King’? Well, the popular phrase needs to be repositioned in 2023. ‘Cash flow is King’ is more appropriate since businesses that only accept cash are limiting their customer base. Customers expect to pay by card. 2.1 billion debit card transactions were made in August 2022 alone – with a total spend of £64.1 billion. Not only do ‘cash only’ signs put customers off, but studies have also shown customers paying by card are more likely to impulse buy and spend more. Would your business benefit from any of the above? Card Industry Professionals support thousands of businesses every day to process billions of pounds and are one of the UK’s most trusted card processing service and card payments service thanks to over 700 5-star reviews on Trustpilot.
Would your business benefit from any of the above?
Card Industry Professionals support thousands of businesses every day to process billions of pounds and are one of the UK’s most trusted card processing service and card payments service thanks to over 700 5-star reviews on Trustpilot. With a range of plans, transparent pricing, a 7-day UK support team, and local sales professionals, CIP help business owners understand their card payment fees and options to find a product and plan that’s right for you. Our Sales Professional Andy Aisthorpe can offer you a free, no obligation review of your current card transaction statement to show you where the savings can be made!
Contact Andy: 07736315954 Email: Andy@cardindustryprofessionals.co.uk
