Let us create a 3D eBook for you!
Let us create a 3d Digital eBook for you! DigyCat.com

Increase Your Sales Accept Credit Cards, Part 2


In part two we will discuss overcoming objections, which credit cards to accept and using the check paying option.

If your business is home-based or has been in operation for less than two years, you're likely to face objections from the bank.

If yours is a home-based or a brand-new company, be sure to meet with the banker to show your business plan, offer collateral and discuss your personal net worth. You are more likely to be able to overcome objections by being open and honest. Even if your bank turns you down, however, you still have options. First, you can always try other banks.

If you don't have any luck getting a bank to back you on your own, consider going through an Independent Sales Organization (ISO). These are field representatives from out-of-town banks who, for commission, help businesses find banks willing to grant them merchant status. Ask your bank to recommend an ISO, or look in the Yellow Pages under credit cards. The ISO may be able to help you simply because it represents dozens of banks, each with their own specialties and criteria. The ISO representative can match your needs with the needs of the banks he or she represents, without requiring you to go through the application process with all of them.

Of course, you will pay higher fees because you run a home-based business, which presents more risks to the bank. Some banks will require you pay either a percent of your monthly credit transactions or dollar amount, whichever is higher. You also pay a per-transaction handling fee, a monthly fee and per month fee to rent a point-of-sale terminal.

Which Credit Cards Should You Accept

Once you've obtained merchant status, you can accept a variety of credit cards, depending on which are offered by your bank. Some banks issue their own cards, and others act as intermediaries between the credit-card companies and your business.

Different banks offer different cards. Most will likely offer Visa and MasterCard, because these are the cards most consumers have. Many banks also offer Discover and American Express, but not all do.

Before you sign on with any bank, consider the costs carefully. If you don't anticipate many credit-card sales, it might not be worthwhile for you to pay the setup and monthly fees. If you're not sure the costs will benefit your business in the long run, call a few banks and find out what kinds of fees they charge. Be sure to call more than one, because fees vary and you won't have a set figure until you actually apply.

Accepting credit cards may not be for every business. But if yours is the kind of business where customers are likely to want the convenience, you're only cheating yourself if you don't give them what they want. Remember, your competition will.

Check It Out

If a lack of a business track record is what keeps you from getting merchant status, consider signing up with an agency that provides checks by phone. This service allows you to accept payment directly from a customer's checking or savings account.

With this type of service clients simply e-mail, fax or send by modem the customer's name and address, the amount of the sale and all the numbers listed across the bottom of your customer's check. These numbers, include the bank routing number and the customer's account number. They use these numbers to draft the appropriate account and pay your business. You can usually request that your payment be sent by overnight shipment, resulting in your getting paid even before the draft has been completed.

If you suspect a check might be bad, you can have them check it against its computer database, which includes identification information on banks and their branches in both the United States and Canada. There is a per transaction charge for this additional screening.

So, as you can see you have a number of ways to get merchant status. Remember, the name of the game is options and convenience for your customers. If you don't offer it, they will go to someone who does. So what are you waiting for!

Copyright 2004 DeFiore Enterprises

Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com


MORE RESOURCES:

Sales Management - Google News

This RSS feed URL is deprecated

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

GMB North America Names Michael Lee As Sales Manager - AftermarketNews.com (AMN)


AftermarketNews.com (AMN)

GMB North America Names Michael Lee As Sales Manager
AftermarketNews.com (AMN)
GMB North America has announced the addition of Michael Lee to its team. Lee joins the company as sales manager and will be based out of the OE and aftermarket parts manufacturer's headquarters in Dayton, New Jersey. “Since Michael has more than 20 ...

Pure Grown Diamonds Adds To Senior Management Team Senior ... - Markets Insider


Pure Grown Diamonds Adds To Senior Management Team Senior ...
Markets Insider
ISELIN, N.J., Jan. 19, 2018 /PRNewswire/ -- Pure Grown Diamonds, the pioneers in the above earth diamond industry and the largest selling grown diamond bran...

and more »

Huawei's top executives are self-imposing a fine of nearly half a million dollars for inflated sales data - CNBC


CNBC

Huawei's top executives are self-imposing a fine of nearly half a million dollars for inflated sales data
CNBC
"Ren Zhengfei did not issue this penalty in response to any specific event, but to encourage the management team to reflect on past management and decision-making gaps," Huawei told Reuters in a statement. The fine in question relates to incidents ...

and more »

Franchise Finance appoints head of sales - Verdict


Franchise Finance appoints head of sales
Verdict
He has 25 years' experience in the banking and finance industry including over 20 years of providing finance to SMEs and in the franchise sector. His career began in car sales and fleet management, and he subsequently joined Key Finance Group (KFG), an ...

Tiffany Reports Strong Sales Rise For Holiday Season - IDEX Online - IDEX Online


IDEX Online

Tiffany Reports Strong Sales Rise For Holiday Season - IDEX Online
IDEX Online
(IDEX Online) – Tiffany & Co. reported that its worldwide net sales increased 8% to $1.05 billion in the two month holiday period ended December 31, 2017 due to growth across regions and product categories, and comparable store sales rose 5%. On a ...

and more »

Regional Sales Manager - BevNET.com


BevNET.com

Regional Sales Manager
BevNET.com
Oversee the sales operational processes & disciplines through regional distributors and retailers on and off-premise. Member of a sales leadership team charged with building a world class brandy company through superior products and superior ...

Tiffany Reports 8% Increase in Holiday Period Sales; Management Updates Guidance for Fiscal 2017 and Provides ... - Business Wire (press release)


Tiffany Reports 8% Increase in Holiday Period Sales; Management Updates Guidance for Fiscal 2017 and Provides ...
Business Wire (press release)
NEW YORK--(BUSINESS WIRE)--Tiffany & Co. (NYSE:TIF) today reported that its worldwide net sales increased 8% to $1.05 billion in the two months (“holiday period”) ended December 31, 2017 due to growth across regions and product categories, and ...

and more »

How to avoid the high cost of managing your own sales force - The Business Journals


The Business Journals

How to avoid the high cost of managing your own sales force
The Business Journals
How do you drive new revenue and cash flow via direct selling disciplines if you're not great at sales or sales management, or letting go? Chances are you can't. In my experience, it's not easy for most business owners to let go of the sales or ...

Alliance Sales Manager - Built In Chicago


Alliance Sales Manager
Built In Chicago
Job Description:10th Magnitude is looking for a Sales and Operations resource who has proven experience in a solution provider with multiple vendor resell relationships. The role is a combination of operations administration, channel/vendor management ...

and more »

LargeFriends.com - the best dating site for plus-sized singles!
SuccessfulMatchCentral.com - the best dating site for plus-sized singles!

PreLaunchX

List4Sale Domain Is For Sale - $10,000 For Enquiries eMail Us

© www.List4Sale.biz 2012

home | site map | links