Boost Your Sales Just By Following These Few Simple Tips!

Sept. 4, 2009 - PRLog -- Boosting your sales!

Grow Your Profits

In our world today, even a single cent counts so by adding them to your bottom line is also a big help. Are are some steps that will increase your profits, either by boosting sales, reducing credit card fees and expenses, or blocking theft.

For businesses in the food service industry, running a restaurant point of sale system, this can greatly help you!

Taking Checks

They are still widely used, especially among older customers. If you haven’t been accepting checks, start soon. There’s equipment that will scan the check as quickly as a credit card, check out and measure them against a nationwide database of bad check writers, electronically transfers the money to your account, and can guarantee that you'll receive the funds within a few days. In addition, the cost is typically lower than for credit cards and could add 10-15 percent to sales—and could even be more if seniors make up the majority of your customers.

Accept all Cards

If you do accept credit cards, you're probably accepting Visa and MasterCard already. What about Discover and American Express? The latter, in particular, generally accompanies larger transactions. You might have hesitated because of the high fees, but do reconsider—a 1% difference may not look worthy of consideration for you, and because American Express transactions are often larger than those of other cards, you’ll make it up in gross profit. Furthermore, your customers may keep coming back because they'll know that your business accepts all forms of credit cards.

Researching

Most merchants think their fees are 1.69 percent plus an additional $.19 because that’s their qualified rate on a pricing program tier. But often fewer than 20 of 100 transactions receives low qualified rate and all the rest downgrade and cost one, two, or even three percent. By researching for alternate programs that offer different interchange rates might just help you out in saving more.

Understanding Statements

Neither you nor your bookkeeper would have to scratch the back of your heads over a complex credit card statement that just doesn’t add up. There are several companies that have made far more than usual efforts to simply their reports. You should be able to reconcile your statement and rates in no more than 15 minutes.

Internet Reporting

You'll never have to wait for the post office to deliver a letter disputing a charge. Using internet reporting, you'll exactly know what's up within 24 hours, which gives you the ability to aggressively defend against chargebacks. This type of quick action will increase your success rates and reduce your losses.

You or your bookkeeper shouldn’t have to scratch your heads over a complex credit card statement.

Using Card Validation Value and Address Verification System. These highly effective fraud screens are proven to reduce losses, and by using them the right way, you obtain the lowest possible discount rate.

Another thing, avoid by being PCI compliant. There are mammoth fines charged to merchants who are hacked, and they can drive you out of business. It's always a good time, be alert at all cost.

Avoiding Huge Chargebacks

For Internet and phone orders, implementing the “Verified by Visa” or “MasterCard Secure Code” plug-in on your web site eliminates all cardholder nonauthorization chargebacks. Liability for these chargebacks will be shifted away back to the issuing card bank, and you qualify for the lowest discount rate available. This simple step could eliminate up to 80 percent of all chargebacks and increase your profits.

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The author of this article writes for POS-For-Restaurants.com, with over 20  years experience in restaurant point of sale systems, helping restaurant owners nationwide increase their efficiency and bottom-line profits..

Visit http://www.pos-for-restaurants.com for more information on how our national network of restaurant point of sale professionals can help your business achieve greater success in these difficult economic times.

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