Credit Card Processing with Mercury POS

[Doug Munro]

Just another thought, how many shop owners reading this and thinking about how Ben Franklin's quote "Keep track of the pennies and the pounds will take care of themselves", is so applicable and important to their business, yet they have not had a monthly financial statement in the last 3 months, 6 months, or only have only one done yearly? Nor could they tell you what margin they achieved on sales last week, or even in the last month. Often over the years when I have stressed to shop owners the importance of staying on top of their financial situation I hear the reply "I just don't have the time!".

Business by definition is all about "money" and if you don't have the time or interest to stay on top of it, then you don't have a business you have a hobby. As we all know, hobbies tend to cost money, not earn it.

My point is that saving $0.89 a day will not save your business if you are bleeding money every month and don't know it. If I were to rank the financial importance of researching better credit card rates I would place it somewhere between fixingg the leaky faucet and driving across town to save a nickel a gallon on gas. Sure both may save you money, however if you have no idea of your financial position both are akin to renovating the living room while the kitchen is on fire.

"Keep track of your margins and bottom line first, and worry about chasing the pennies later"

 

[jamie]

Business for all intents and purposes is "money" and if you don't have the time or interest to stay on top of it, then you don't have a business you have a hobby. As we all know, hobbies tend to cost money, not earn it.

amen to that, probably the biggest problem facing Mom & Pops today

 

[Doug Munro]

amen to that, probably the biggest problem facing Mom & Pops today

Jamie,
In the three decades I have been in the flower industry the financial side has always been the Achilles Heel of the retailer. Over the years it has been my observation that most retail flower shops determine their financial situation by their daily bank balance. In the "old days" they often got away with this, (except for the ones that spent all their "floral holiday outgoing order cash" before the wire service statement arrived) however in today's world with lower margins and increased operating costs accurate financial information is critical.

I suspect that in the last decade many that have fallen by the wayside went into oblivion not knowing what their actual financial situation was until the receiver became involved.

 

[Floristique]

When I signed up for FTD 4 yrs ago I asked them to match a 3rd party rate and they did but once you are with them they will not go down any more when the rates drop like now. I have the mercury POS system and I use it for my delivery orders and I have a separate machine I use for walk-in customers & weddings to get the lowest fees available. The bigger jobs will save you money by using a different processor. Hope this helps!