• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

  • Facebook
  • Instagram
  • Pinterest
  • RSS
  • Twitter

Turning for Profit | Woodturning | Lathe |

Helping woodturners make more money

  • Blog
  • Projects
    • Library
      • Turned Bowls
      • Christmas Projects
  • Inspiration
  • Make Money
  • Woodturning Techniques
  • Workshop Expertise
    • Splinters
  • Shop
  • Blog
  • Projects
    • Library
      • Turned Bowls
      • Christmas Projects
  • Inspiration
  • Make Money
  • Woodturning Techniques
  • Workshop Expertise
    • Splinters
  • Shop
You are here: Home / Inspiration / Credit Cards – Are They Right for You?
Credit Cards - title

Credit Cards – Are They Right for You?

By //  by Robin 1 Comment

divider
This post contains affiliate links. If you use these links to buy something we may earn a commission. Thanks.

Gold credit card
Visa and Mastercard credit cards fanned out on a white background

Credit cards are a fact of life.  It used to be that only big chain stores offered credit.  Now it is available to businesses of all sizes.  Have you thought of offering credit card sales?  It actually is quite easy and straight forward.  Let’s take a look at credit cards and the small business.

Gold credit card

Credit cards and the small vendor

When I first started my small farm business I resisted taking credit cards.  It thought it would be a hassle and difficult to process.  I was also concerned how it would affect my customers.  After attending a few shows where others were taking credit, and a little research, I signed up through Costco Canada.  They required some personal, business, and financial information.  This enabled the company to deposit credit card transactions to my bank.  It was easy to set up and had a very low percentage charge on the transactions.  I used this system for over ten years.

A simple credit card system

My system was simple and connected over the phone line.  It could take credit and debit cards.  I had a terminal in my shop and could swipe or enter the card as needed.  While there were a lot of options, and a manual, the sales were straight forward.  I had to use the manual if I was issuing a refund.  At the end of the day the machine would automatically batch and send in all of the transactions for the day.  It is very easy to use.

When away from the phone at shows I could use an old fashioned imprint machine and therefore only take credit cards.  When I got home from the show it only took a few minutes to enter the numbers and amounts through my merchant terminal. I was surprised by the impact offering credit card sales had on my business.

Impact of taking a credit card

Taking credit cards increased my sales by about 50%.  People did not have to use their cash to make the purchase.  It allowed people to make larger purchases.  This gave them more options on how to purchase my products.  It also made it easier for me to upsell to my customers.

In rural locations the fact that I took credit cards, and most other vendors did not, had a positive impact for both me and the other vendors.  Often people would come to the show with a limited amount of cash.  They would then try to buy items that would be within their budget.  On many occasions they were delighted to use a credit card with me and take their cash to another booth.  It expanded their budget.  I made a sale and the cash went to another vendor so they made a sale as well.

Credit Cards work at even small craft events

Credit card ethics

Only once did I have doubts about taking a person’s credit card.  As they were searching through their wallet they commented about whether there was room on this or that card’s balance.  As I thought about it, how someone arranges their finances is not my responsibility.  Just because the first two cards they produced were maxed out did not mean they shouldn’t find the third card and make a purchase.

For various reasons people may have several low limit credit cards as they are seeking to re-establish their credit ratings.  Or they may have made major budgeted purchases on the other cards but have not yet paid off the balances.  As a vendor it is not your moral or otherwise responsibility to evaluate a customer’s purchase, nor their method of offering you payment.

New payment options

With cell phones and Wi-Fi connections you have more options.

You can register for a PayPal account.  If your customer has a phone and the internet they can send you the money through PayPal.  If you have a phone as well you can send them an invoice and they can approve payment all in real time.  This option does require internet access by the customer.

Again with phones and internet you can also do an e-transfer from the customer to you.  You arrange for the customer to send you money via email or text.  Determine the key word before you do the transaction.  It may take some time for the banking system to send, receive, and confirm the transfer.  But it is an option.

You can purchase a card reader that attaches to your cell phone.  Make sure it is for your country and currency.  Square reader is one card reading option.  They will send you a free reader in the mail (at the time of this post) and charge you 2.65% per transaction.  If you can swipe the card, even when out of cell service, when the transaction is processed later you are charged the same rate.  If you did phone or mail in orders, they do have a higher rate when you enter the credit card number manually.  You will have to provide some banking information and personal identification in order to receive your deposits.

Visa and Mastercard credit cards fanned out on a white background

 

Credit cards and the fine print

You have to read your agreement with your provider.  They agree to process your transactions but they also have requirements for you.  Check the credit card.  Does the name match the person?  If in doubt, ask for identification.  If you are entering the data later, ask for a phone number just in case you can’t read your own writing.  Make sure you have your own sales receipt to match the charge on the credit card.  It supports your story about what you sold and to whom.

Like I said above, I’ve taken credit and debit for over a decade and not had a problem.  I know that others have had challenges.  So read your agreement to understand what you are responsible for especially in terms of records and protection of identity information.  As an example the Square Reader has 31 different industries that you cannot use their reader for.

Credit and debit cards are a great way to facilitate economic transactions.  They are available to the small business and even the part-time craft vendor.  They will help you grow your business and increase your reputation with your customers.  You have to make your own decision but credit cards are definitely an option worth considering.

Credit Cards - title

Turning For Profit

Thank you for reading this article.  It was suggested in a post comment by Leigh Stevens from England.  Thanks Leigh for the suggestion.  If you have any questions about turning, or the business of turning, please leave me a comment at the bottom of the page.

These posts are for you, the woodturner. To receive regular notification of blog posts please sign up for the Turning For Profit newsletter.  Generally it comes out once a week and has links to the current articles, a bit on what I am up to, and usually a question for your response.  You can sign up on the right side bar or just a little lower on the page.

Thank you for joining me on this woodturning journey.  Have fun and remember to turn safely.

Save

Filed Under: Inspiration, Profit Tagged With: craft shows, merchandizing, selling crafts, the business of craft

Related Posts:

You may also be interested in these posts:
Christmas Projects Title

Christmas Ornaments: Build Your Inventory Fast

Pricing a beautiful wooden yarn bowl can be a real challenge.

5 Pricing Mistakes that Cost You More than Just Money

5 Tips for a Positive Attitude at Shows

5 Tips for a Positive Attitude at Craft Shows

Before you start teaching woodturning to children ask yourself 3 important questions

Teaching woodturning to children – 3 preliminary questions

Finding Birch for Woodturning Projects

Finding Birch for Woodturning Projects For the Local Market

5 Lessons I Learned from Mark Twain about Woodturning

Previous Post: « 3 wooden miniature Christmas decorations A Woodturning Project: Mini Decorations
Next Post: Gifts for Woodturners – 24 Inspiring Ideas Gifts for Woodturners perfect for under the tree »

Reader Interactions

Trackbacks

  1. 6 Steps to master the craft show season - Turning for Profit says:
    June 7, 2017 at 10:53 pm

    […] are your customers going to purchase your products?  Are you a cash and cheques only vendor or are credit and debit cards an option?  Consider your options carefully as accepting Credit cards can help with more high end […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CAPTCHA
Refresh

*

Primary Sidebar

Welcome

About me:

Welcome to the Turning For Profit Community! I'm Robin. Turning for Profit is about helping you find hope and joy in your woodturning hobby. It's about projects that fill your inventory and inspire your creativity. It's business help to get you set up and making a profit quickly. If you've always wanted to work from home playing with wood, let me help you realize your dream of Turning for Profit. Read More…

Help for Beginner Woodturners

Learn to use 5 different wood turning tools, with confidence, while you turn 7 projects, building your wood turning skills sequentially.  Includes tips and ideas for marketing your wood turning, when you are ready to move forward.


Footer

Inspiration:

You don’t have to be good to start.  You just have to START to be good. — Joe Sabah

Handmade with Care Stamp

7 Gifts for Men Made on the Lathe

7 Gifts for Men Made on the Lathe
Christmas Projects Title

Christmas Ornaments: Build Your Inventory Fast

Christmas Ornaments: Build Your Inventory Fast
Finished Niddy Noddy with yarn.

Niddy Noddy – A Woodturning Project

Niddy Noddy – A Woodturning Project
  • Start Here
  • About me
  • Contact
  • Privacy Policy
  • Terms and Conditions
  • Disclosure

Site Footer

  • Email
  • Facebook
  • Instagram
  • Pinterest
  • RSS
  • Twitter

Copyright © 2023 · Mai Lifestyle Pro On Genesis Framework · WordPress · Log in