Originally Posted by JanetM
Originally Posted by Pat and pups
I've read 4 pages of this thread and agree that we need to support locally owned businesses as much as we can. One little thing I try to do when shopping at a locally owned business is to pay cash rather than whipping out my plastic. I know the percentage a store has to pay the credit card company is not very much and probably won't mean the difference between make it or break it, I figure every little bit helps.
Actually, it does make a difference. I always use cash too for the same reason. I spoke about this with my local sewing machine dealer (very nice man) and he said it does make a difference, and that he appreciates cash customers so much. ;)
True, true, it DOES matter. Credit card companies take anywhere between 2.5% - 3.5% of the total sale. Figuring that 50% of the sale price was the cost of the fabric... that means the credit card company's "bite" is 5% - 7% of the store's profit.
'Course it matters! Wouldn't you like to be earning that 5% - 7% on your checking account? I sure would! :-D