No cash restaurants

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Radbird
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Re: No cash restaurants

Post by Radbird »

CardsofSTL wrote:Maybe in Chicago and some of the other big cities. Local shops love cash. I bet my barber only claims about a third of his actual business.
Which is why offering to pay in cash often gets you a discount.

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Secret Weapon
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Re: No cash restaurants

Post by Secret Weapon »

If you bring in a million in revenue, thats 30 grand in credit card fees right off the top

Michael
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Re: No cash restaurants

Post by Michael »

Secret Weapon wrote:If you bring in a million in revenue, thats 30 grand in credit card fees right off the top
On the other hand, if your shop is busy during something like lunch it take more time to process customers. Additionally, with cash you increase the chances of employee theft and you have to pay someone to count the money.

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Joe Shlabotnik
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Re: No cash restaurants

Post by Joe Shlabotnik »

Michael wrote:
Secret Weapon wrote:If you bring in a million in revenue, thats 30 grand in credit card fees right off the top
On the other hand, if your shop is busy during something like lunch it take more time to process customers. Additionally, with cash you increase the chances of employee theft and you have to pay someone to count the money.
Which is the point in NYC where a lot of that is happening. The credit card fees must be worth it to get rid of the theft and overhead.

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haltz
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Re: No cash restaurants

Post by haltz »

Also they were offered $10k by CC companies to go cashless according to the article.

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Joe Shlabotnik
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Re: No cash restaurants

Post by Joe Shlabotnik »

haltz wrote:Also they were offered $10k by CC companies to go cashless according to the article.
That too.

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Re: No cash restaurants

Post by tlombard »

Michael wrote:
Secret Weapon wrote:If you bring in a million in revenue, thats 30 grand in credit card fees right off the top
On the other hand, if your shop is busy during something like lunch it take more time to process customers. Additionally, with cash you increase the chances of employee theft and you have to pay someone to count the money.

Cashless department stores would put Willie and Marcus out of business.

I started to go the 'lack of cash for an armed robber route' and decided to make a Bad Santa reference for those (everybody most likely) who didn't get it.

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