I'm trying to transition to credit card only.....employees can't steal. Don't even have to worry about checking if they are stealing. Transactions become more organized. Don't even have to go to the bank for deposits. ( I can run my checks online).
Don't have to worry about being robbed....I never have been, but my town is going to hell. The money or the risk of being shot isn't the major problem....it's the bad publicity that would kill my business. A nice no cash accepted sign would deter a would be robber.
I personally never carry cash either. Don't have to worry about change.
Personally, I never have cash. So if I was your customer, you would not be able to count on cash from me.
You run the risk of being robbed if you take cash only.
There is a cost to taking any form of payment.
Cash - shrinkage, robbery, mugging
CC - CC fraud, charge reversal, and bank fees
Checks - check kiting
To me the highest cost, the one I am not willing to pay, is mugging.
My business almost instantly expanded monthly sales by 120% the first month I took Credit/Debit cards in addition to cash & checks....that's MORE THAN DOUBLE the sales I had before...
Yes it's more convenient for customers.
Customer convenience should come first, if you want a returning clientele, due to the fact that very few people may not carry "ready cash" in their wallets when shopping but always have their credit cards.
cash is NOT always there.
interesting, in a 5 mi radius of my home only one biz
said what you have asked; he got stung by one client
only and said, f credit cards........he did not realize that
he was dealing with poor punk kids with cars as their
only pleasure in life.............HE demands cash or
he would rather fold his firm. Several months a year,
he starves......
creates an easier audit trail and ensures that you can expand your customer base to those who chose not to carry cash on them. Its only bad if you intend to cheat on your taxes, and don't want an accurate ledger of your sales.
i hate carrying cash around, and so do a lot of people
Why should businesses switch to accepting credit cards when cash is always there and easy to count on from my customers?
