Do You Really Want an ATM Machine?

February 26, 2009

While I was out prospecting yesterday, I came across a business owner who was proud of the fact that she had an ATM machine and not a credit card terminal. She preferred to make money when the customers used the machine rather than to incure a charge for accepting credit cards.

Her ATM machine happened to be located at the front of the store next to the door. But, is that a good place to have an ATM machine?

Business owners should carefully consider where they will install their ATM machine or whether they should bother to have one at all. Incidents where thieves are driving through doors to get to the ATM machine are becoming increasingly common.

Ways of Avoiding Chargebacks

February 17, 2009

Although some business owners are more vulnerable to chargebacks, all business owners can avoid them by making sure customers are satisfied with their purchases and the service they received when they entered your store. Sometimes a simple acknowledgement of the customer when they come into the store and creating customer satisfaction go a long way.

Customers buy your products because they perceive the value in purchasing it. According to Lloy Allard, if you uncover the value your customer perceives, and then “go one step further in helping him to see his friends and family watching him enjoy the benefits of your product,” it will sell the customer and get him excited about bringing his purchase home. If he buys your product for this reason, he is unlikely to return it.

Managing Credit Card Processing Rates and Fees

February 13, 2009

In this day and age, it is important to ferret out all erroneous charges from your credit card processing statement as soon as possible. This means being diligent in reviewing the statements as they arrive. It is possible to find mistakes, and if you do, give your merchant account representative the courtesy of notifying him/her of your dilemma.

Most account representatives, if they are honest and trustworthy, will be happy to review the statement with you. However, if you encounter difficulties in reaching the representative or he does not respond, it is time to get a new representative.

New Strategy for Boosting Profits

February 11, 2009

It’s no secret that businesses are suffering in light of the recent economic crisis. Money is not circulating in the economy and business owners must develop ways of enticing customers in the stores to buy their products. Even though consumers are not spending any money, they still need your products. How do you convince them to spend their dollars with you?

Have you considered offering gift cards as a way to increase your profits? Offering and additional five or ten dollars on the gift cards to your loyal customers, any time during the year is a great way to invite more customers into your business. Who would turn this down?

Here are testimonies about the LIFT program:

I actually have a funny story about our Rewards program. On several occasions, one of our rewards customers’ will come in to eat and sometimes I will comp their meal; it could be as much as $30.00. But instead of the customer just saying thank you, they ask me if they can still have their points!! We laugh about it because the customers’ are more concerned about accumulating their points then getting a free meal. This program has definitely helped with repeat business because people look forward to getting their points. People hold on to their receipts so if they forget their card they can get the points the next time they come back. I can estimate that our business has increased by 15% since implementation. The POS Stand at the front of the restaurant help with advertisement but we have generated lots of word of mouth. People feel left out if they don’t have the card. I would recommended the program to anyone who wants their customers’ to feel special because those customers will be with you for life.

Chip, General Manager
Babalu Restaurant
9246 4th street N
St. Petersburg, FL 33702
(727) 576-7414

Contact me for more information.