"As for the hardware store, I would continue to accept the credit cards and look for ways to increase sales. The 3% charge on $1000 is only $30 and I believe that is a pretty reasonable way to offer instant credit. If you start changing payment policy your most likely outcome is a loss of business and when you discover that it is too late and your store is labeled as a bad place to do business and it may not be easy to change that. If a business is viewed as a good friendly place to go it will bring in more business than any 3% discount."
Exactly. Everyone runs their business their own way but this is exactly what I was trying to convey in my earlier post yesterday. In the retail business there is what's known as variable pricing and the manager/owner has to determine what the top 20% of the merchandise sold is and be aware that those items are what the customer's price perception of that store is based upon. For example - grocery stores it is bread, milk, eggs. Parts stores: oil, filters,lower end wiper blades, etc., lumberyards: 2x4 pre-cuts, 7/16 OSB, 1/2" drywall and roofing. The retailer sells those items at or near cost. Other items are slower turns and have a higher margin on them and that is where a manager would need to make up some of the incidental margin losses on such things as bank cards. My cost of goods sold was slightly higher but my NET at the fiscal year's end was much higher. A good example is a big box store home center. Compare their prices on nails, screws, plumbing fittings (the pipe would be a variable price item) and paint sundries. Their margins are astronomical on those items as few people compare or price shop those things. They can't give everything away and must make a decent margin to stay in business, too.
Upload one or more videos to your post. Photo filesizes should be less than 300K and Videos, less than 2MB. Formats allowed are gif, jpg, png, ogg, mp4, mov, and avi. Be sure to use filenames without spaces or special characters, and filetypes of 3 digits lower case.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Engine Valves - Some Helpful Information - by Staff. Intake - On the intake stroke the piston moves doward, sucking in carburized fuel through the open intake valve. Exhaust valve is closed. Compression - With both the intake and exhaust valves closed, the pistons upward stroke compresses or squeezes the fuel into the combustion chamber. Firing - Ignited by the spark, the compressed fuel explodes and forces the piston downward on its power stroke. Intake and exhaust valves are closed. Exhaust valves and seats are exp
... [Read Article]
Latest Ad:
Oliver 550 Diesel runs like a watch three point hitch pto engine gone threw about two hundred hours ago nice clean tractor
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
