I need advice...

[WillParkinson]

We do weekend trade shows and we accept cash and checks from people to pay for their orders. We've had a couple of people ask if we take credit cards. If you were going to go to a local trade show/swap meet would you be more likely to make a more sizeable purchase if someone took credit cards/debit cards?

[arwalden]

1. It also depends on what it is you're selling... or what I'm buying.

Computer trade shows... I'd say that accepting credit cards would be a REQUIREMENT. --- Craft shows? Maybe not so much.

Art shows? Depending on the prices and selection, it could go either way.

-- Allen

[WillParkinson]

2. Craft type shows

But some of the items are a bit higher in price. Some of the crystals are $15 each and a few of the porcelain figurines run as high as $50.

I understand that it depends on what we're selling and that what we have doesn't appeal to everyone (well, those with taste anyway, grin) but we're trying to figure out if it would be worth it to take credit cards for the shows and our website.

(And thanks for your answer. It does help.)

[brokensymmetry]

3. Let's ask the question differently.

Suppose you're the potential buyer. How much cash do you have in the bank? How much is your available credit?

Having determined those two numbers, which is greater?

I believe that most people have more available credit than cash on hand - so, if that's true, it would help to accept credit cards.

[WillParkinson]

4. Neat way to look at it....

Thanks much!

[tommilator]

5. Cash

I sometimes visit car parts trade shows with cheap second hand and veteran parts. I can't imagine using a credit card there.

[WillParkinson]

7. The items we sell...

Are all brand-new things. A lot of people there DO sell used items but we try to go along with things that are more 'home' friendly gift type things (hence the whole Hearth & Home Gifts name).

[supernova]

6. Not smart to carry large wads

of cash. A good way to get robbed.

I go to a lot of flea markets and auctions and if there is a big ticket item I want, the dealer had better take a check or credit card.

Beyond what I need to eat or say pay for parking, I don't carry a lot of cash on me. The other reason to pay with credit cards is if the product turns out to be unsatisfactory, it's much less of a hassle to get your money back edit: because you have a 3rd party record of the transaction.

[buddhamama]

8. the average consumer

will spend spend spend if they can charge it.

not me mind you, but the average consumer yes.

[liberalhistorian]

9. I think people would be far more likely to buy

from you if you accept credit cards, particularly the more expensive items. But don't forget about the fees charged by the credit card companies. Generally, they charge each merchant accepting their cards a monthly fee regardless of whether or not there are any transactions for that month. There's also a charge per transaction, it can be up to $5 or more, depending on the card company. So you'd have to weigh the benefits of increased and larger sales against the fees and transaction charges to see if it's worth it.

[WillParkinson]

10. I know...

The charges are a B*tch but we're trying to figure out if it's worth it.

It's a catch-22 thing. Yes, you need it to make money but you need money to make it...<Sigh>

[Wickster]

11. Shop around for providers

There are some providers who do not charge a per item fee or a monthly fee. You can negotiate. First talk to your bank - then go talk to another bank - go back to your bank and tell them that you are moving all your accounts because the other bank has this great credit card deal for small business people. Continue playing game they make you play and eventually you will get more reasonable rates. (Be sure to check on the internet, too - PayPal seems to have some rates that are pretty low).

They will all say, "You have no history." Your response should be "That's right but if you don't want my business, I'll take it someplace else. Thank you for your time."

You will hear a strange honking sound as the person (if they have any authority) "backs the truck up."

AMEX charges more than all the others. Discover charges me the least. Visa & MC charge the same. It used to be that more people I dealt with had AMEX now more have MC! Don't know whether this is a trend.

Also, I go to a lot of craft/trade shows - if I don't see a little credit card sign, that is the first question I ask. :)

[WillParkinson]

12. Most cool, thank you!

We were looking at going through Quickbooks (since it's what we use to do our business books). We appreciate your help!

[jmm]

13. I hate carrying cash.

I know a number of place that will charge an extra $.50 or $1 per purchase for using a credit or debit card. I'd much rather pay that than to search for an ATM and have to pay about $2.50 to take cash out or carry a lot of money and risk being robbed or losing it.

Maybe you could charge a fee but tell people you'll waive it if they make a minimum ($5, $10, whatever) purchase?

[WillParkinson]

14. Not a bad idea!

Thanks for the suggestion.