What Types of Payment Expenses Come Up With a Retail Store Franchise Outlet?
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If you want to allow retail store franchise customers to use credit and debit cards, you will have to mark up your products anywhere from 10 - 15% just to cover uncomplicated transactions. Among other things, credit card companies will charge 2 - 5% of each purchase. Some others will also impose a flat fee on each transaction, as well as a monthly service charge. On top of that, you will need to pay an initial enrollment fee that can cost upwards of $100.00. Even if your merchant account vendor waives this fee, you may find that it will cost several hundred dollars to break the contract. In addition, merchant account vendors also assign anti-fraud fees, routine service fees, monthly statement fees, and under-usage fees.
