Company
This business is located in a small town in North Carolina and is housed in an older building that has been modified to fit their needs. They have a display of products up front with a front office person greeting. They have a full production area in the back. They market mainly to local businesses.
Services Offered: Screen Printing, Embroidery, Trophies
Number of Employees: 3 Full Time, 2 Part time
Percent on Credit Card: 80%
This company has 5 Employees.
Employee 1 handles the business end of the business, including the marketing.
Employee 2 handles production including Auto Printer, Embroider machine. This employee is a production guru.
Employee 3 handles customer service including quotes, billing, collections, answering phones
Employee 4 (part-time) Comes in on call, to catch shirts, fold, and various odd jobs.
Employee 5 (part-time) Screen Cleaner, Cleans up shop, trims embroidery, helps assemble trophies.
This company was using their local bank for Credit Card Processing, as that was easy to set up. They had a rate of 2.35 which seemed like a decent rate. They have been with the bank for 20 plus years. Their fear was moving their process. They have a card reader on the desk. The bank had a $275.00 cancellation fee.
| Monthly Estimates | Effective Rate | Estimated Savings | |||
| Monthly Card Estimates | $40,000 | Current Effective Rate | .0262 | Monthly Savings | $171.00 |
| Monthly Number of Transactions | 208 | Estimated Effective Rate | .20 | Annual Savings | $2,052.00 |
| Average Ticket | $198.00 | ||||
| Monthly Fees | $1051.84 |
We moved them from their Bank to Total Merchant Services.
We set them up with a card reader on the desk that acted the same as the one they had. Card reader is free. We also set them up with a web portal which allows them to send invoices to customers for payment. This has greatly reduced their receivables.
The time commitment from the customer was 20 minutes to fill out and sign an application, 10 minutes to tell their bank they are switching and about 40 minutes to go over the login and learn how to send an invoice.
Customer’s bank did not charge the $275.00 cancellation fee. (which is not uncommon) Customer is saving over $2,000.00 per year, received $300.00 in credit card credit and has reduced their collection process.