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Showing posts from October, 2023

Cash Discount: What Is It? Is Cash Discount Legal?

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In today’s restaurants and cafes, paying with a card is always the preferred choice for customers. However, for every card transaction, restaurant owners or their customers have to bear a small fee known as “card processing fee” in addition to taxes. These fees typically range from 1-4% of the bill. When you add up these “small” fees each month, you’ll see a significant amount of money going to waste. So, if there’s a way to save on these “small” fees, why not give it a try? In this article, we will explore an optimal way to increase profitability, attract customers, and build trust through a simple yet often overlooked strategy: Cash Discount. What is Cash Discount, and is it legal to use it? Cash Discount is a promotional method that restaurant owners can apply to encourage customers to pay with cash, thus avoiding an undesired card processing fee. Businesses utilize Cash Discount to expedite prompt payments from customers. Cash Discount is not just a way to save mon...

The Growing Trend of Restaurants Charging Convenience Fees for Credit Card Payments

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In an era marked by rising inflation, dining out has become a bit less appealing, and not just because of the cost of your favorite dishes. Many restaurants are now adding a new expense to your bill in the form of “convenience fees” for using your credit card. But, let’s be honest, these fees are anything but convenient for the average diner. These processing fees can vary significantly, ranging from 1.5% to 3.5% for each transaction you make. The exact amount depends on factors like the credit card network used (Mastercard, Visa, etc.) or the type of transaction fee being charged. What’s causing this sudden shift? It’s simple. Credit card companies impose fees on restaurants for processing your card payments, and now many of these establishments are transferring those costs directly to their customers. Some claim it’s a way to avoid raising menu prices, while others are more forthright, opting to slap you with outright surcharges. So, what’s a diner to do to save a f...

What Is Cash Discounting? Small Business Guide

Cash discounting is a savvy approach used by businesses to provide customers who pay in cash with an enticing discount. In essence, it’s a win-win scenario: customers get a price break, and businesses sidestep credit card processing fees. This strategy is particularly popular among small or family-run businesses, especially those with a significant cash-paying customer base or those operating on slim margins. How Does Cash Discounting Work? In a cash discount program, the pricing of products and services is adjusted upfront to include the credit card processing fee. When a customer checks out and opts for cash payment, their receipt displays a cash discount line item, effectively subtracting a small amount (equivalent to the credit card processing fee). In the end, customers leave satisfied with a discount, while merchants pocket the full value of the product or service without credit card fees. Transparency during checkout is a pivotal part of this process. Before accepti...

Are Cash Discounts the Answer to Merchants Intensified Swipe-Fee Pain?

In today’s modern, cashless society, credit and debit cards have become the go-to payment methods for consumers. While this convenience is undeniable, it comes at a price for merchants, in the form of dreaded swipe fees. These fees, also known as interchange fees, are charges levied by credit card companies and banks for processing card transactions. For many merchants, these fees have escalated into a substantial financial burden, prompting them to seek innovative solutions to ease the pain. One potential remedy on the horizon is the implementation of cash discount programs. But the question looms: are cash discounts the solution to the intensified agony of swipe fees? Swipe fees have long been a thorn in the side of merchants, with credit card companies and banks siphoning off a percentage of each transaction’s value. These fees can significantly erode a merchant’s profits, particularly for businesses operating on slim profit margins, such as small retailers and local eateries...

Tips for Implementing a Cash Discount Program

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A cash discount program offers merchants a way to engage in cash discounting, a cost-saving payment processing strategy that offsets credit card processing fees by incorporating them into standard pricing. While it’s legal in all 50 states, some merchants find it more intricate to set up, operate, and maintain compliance compared to credit surcharging. To help you navigate this process successfully, we’ve outlined eight crucial steps to implement a cash discount program. Step 1: Check for Federal & State Requirements Cash discounting, like other zero-cost credit card processing strategies, is subject to federal and state regulations. Federal guidelines emphasize transparency, proper disclosure, and non-discriminatory business practices. To stay compliant, follow these general guidelines: Display complete and proper signage at the entrance and checkout counter. Ensure that receipts clearly show any service fees or discounts related to the cash discount program. ...

How to Implement a Cash Discount Program in 8 Steps

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In today’s restaurants and cafes, paying with a card is always the preferred choice for customers. However, for every card transaction, restaurant owners or their customers have to bear a small fee known as “card processing fee” in addition to taxes. These fees typically range from 1-4% of the bill. When you add up these “small” fees each month, you’ll see a significant amount of money going to waste. So, if there’s a way to save on these “small” fees, why not give it a try? In this article, we will explore an optimal way to increase profitability, attract customers, and build trust through a simple yet often overlooked strategy: Cash Discount. What is Cash Discount, and is it legal to use it? Cash Discount is a promotional method that restaurant owners can apply to encourage customers to pay with cash, thus avoiding an undesired card processing fee. Businesses utilize Cash Discount to expedite prompt payments from customers. Cash Discount is not just a way to save mon...

Happy Hour Là Gì? Gọi tên 6 Chiến Lược Happy Hour Hút Khách Cho Nhà Hàng

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Happy hour dịch sang tiếng Việt có nghĩa là “Phút giây hạnh phúc”, “Thời giờ vui vẻ”. Trong lĩnh vực F&B, thuật ngữ này còn được hiểu là “khung giờ vàng”, “giờ khuyến mãi” được sử dụng để diễn đạt cho một mốc hay khoảng thời gian đặc biệt trong ngày khi các nhà hàng, quán bar, quán ăn, cơ sở kinh doanh dịch vụ ăn uống nói chung áp dụng các chương trình khuyến mại, giảm giá cho khách hàng để thu hút, tăng lượng khách ghé quán, từ đó tăng doanh thu và lợi nhuận, song song đó là xây dựng và phát triển thương hiệu, tên tuổi cho quán. Happy Hour Xảy Ra Khi Nào? Thông thường, happy hour sẽ được diễn ra vào các giờ thấp điểm trong ngày, khi hầu hết khách hàng thường đang trong thời gian làm việc và (hoặc) ít có nhu cầu ăn uống. Tuy nhiên, nhờ có chương trình giảm giá, khuyến mại của quán mà họ hào hứng order để nhận được ưu đãi. Theo tìm hiểu, phần lớn các nhà hàng hay cơ sở kinh doanh dịch vụ ăn uống áp dụng Happy hour chọn khung giờ từ 14h đến 18h mỗi ngày để triển khai ưu ...

3 Tác Động Của Xu Hướng Healthy Eating đến kinh doanh nhà hàng

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Thực tế, hầu hết các bệnh tật mà người tiêu dùng phải đối mặt xuất phát từ cách chúng ta lựa chọn thực phẩm hàng ngày. Với sự phát triển của xã hội, nhu cầu về ẩm thực của người tiêu dùng ngày càng gia tăng. Tuy nhiên, điều này đi kèm với nguy cơ tiềm ẩn về thực phẩm không an toàn, không rõ nguồn gốc và có hại cho sức khỏe. Do đó, người tiêu dùng đang dần thay đổi thái độ và quan tâm đến thành phần, nguồn gốc và cách chế biến thực phẩm. Dưới đây là một số lý do vì sao xu hướng Healthy Eating đang thịnh hành: Sự yêu thích của người tiêu dùng đối với tự nấu ăn tại nhà Người tiêu dùng đang có xu hướng tự nấu ăn tại nhà để có khả năng kiểm soát tự chế độ ăn uống hàng ngày của họ. Điều này giúp họ dễ dàng bổ sung thêm trái cây, rau củ quả vào chế độ ăn hàng ngày để duy trì cân nặng và sức khỏe tốt. Lợi ích của thói quen ăn uống lành mạnh Thói quen ăn uống lành mạnh không chỉ giúp cải thiện sức khỏe mà còn có tác động tích cực đến tinh thần và giấc ngủ. Việc duy trì một ...

5 Principles of Effective Inventory Management in F&B Business

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In the world of Food and Beverage (F&B) businesses, the art of efficient inventory management stands as a pivotal challenge. It’s a sphere where losses and wastage can swiftly dent the performance and profits of an establishment. To navigate this crucial aspect, here are five essential principles of effective inventory management: 1. Precision in Encoding Raw Materials and Products The key to minimizing losses and waste starts with accurate encoding. This process involves collecting and categorizing comprehensive information about your inventory. Here are some vital encoding considerations: Aggregate all inventory data comprehensively, ensuring detailed classification. Maintain uniform encoding standards to prevent confusion between different items. Employ universally recognized encoding practices for effortless tracking and monitoring. 2. Precise Determination of Inventory Levels Calculating precise inventory levels is the cornerstone of effi...

How to Handle Customer Backlash

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In the fast-paced digital age, where information spreads like wildfire, brands must be vigilant in protecting their reputation and profitability. A single crisis can have far-reaching consequences, potentially leading to irreparable damage. To navigate these treacherous waters successfully, remember the age-old adage: “Prevention is better than cure” when dealing with public relations crises. Scandals, exposés, and controversies involving brands can quickly go viral in the online community. If not handled with care and precision, these incidents can thrust a brand into a dire situation, tarnishing its image and affecting its bottom line. So, how can businesses effectively manage a public relations crisis? Let’s break it down into three crucial steps: Step 1: Preparation – The Foundation of Crisis Management To avoid uttering the regretful words, “I wish we had prepared better,” businesses must adopt an honest and transparent approach to crisis management. Identifyi...

Influence of Work-from-home on Restaurant Guests

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The rise of remote work and work-from-home trends has sent shockwaves through the restaurant industry. To stay competitive in this new landscape, restaurant operators must closely monitor how these trends impact their business, not just during lunch hours, but also during breakfast, dinner, and coffee service. At Skipli, we recognized the importance of understanding the dining habits of the remote workforce in the United States. In this blog post, we present valuable insights into restaurant ordering frequencies by age group, meal types, and more. Additionally, we offer strategic marketing tactics that can help boost sales during working hours and explore how often diners return to their favorite workday restaurants on evenings and weekends. Key Takeaways 1. Lunch Dominates the Workday Our research reveals that lunch orders take the lead during the workweek for work-from-home diners. An impressive 75% of our survey respondents working remotely or from home get lunc...