hi frank been watching your channel for the past 5 yrs and pickup tones of info , we started with one food trailer in 2017 and now have 3 and a catering business thanks so much bro Mr Smooth food trucks & Catering.
Cash has hidden costs (time, theft, mishandling of bills, etc.) that most forget about. Cash only also excludes many customers, costing money in lost sales. Yes, there are credit card fees, but this is why it is important to have an actual accountant do your taxes since business taxes are far different than personal taxes in what is allowed to be deducted at the end of the year. CC fees can be deducted as a business (while for your personal finances, you can't deduct those fees). Just roll your cc fees into your cost of doing business and include it in your pricing.
Cash costs money to process too! You have to count it, make change for it, keep it safe, deposit it, it can get lost and stolen. I build it in the cost of the items (+4%), now when people give you cash you get paid for its unique risks.
Franky sup brother GOD BLESS YOU MAN so I finally got my hood up from food Mart I went with the 8 ft I'll send you pics as soon as I get the floor on I'm sti doing stainless steel walls it's looking nice thanks for.all the help my bro I'm totally appreciative of your videos cuidase mucho hay estamos ala orden General
I use cash and cash app only. And i wrote that down on the chalkboard in my window. No charge from either side. Some ppl actually download the app while standing in line. I wouldn't use any thing else. I'm extremely happy with that. And all recipes are in e mail. I get one and they get one.
We just pass all the transaction fees to the customer... 3.99% of the total... Remember,it's their choice to use the card, Last year my boss spent 90,000 in fees... The new boss has zero because the customer now pays it
Hey Frank! I got a thought for a new video topic. How about discussing how to charge customers when being hired for private parties, grand openings, corporate events, weddings, etc ... How to plan for such events, how to judge the amount of food to buy, what questions to ask the customer etc. Subjects like what is meant by charging a "minimum fee" just to show up. Just a suggestion for new video material. Thanks for the priceless videos, much appreciated!!!!!!!!
There is also Toast, Poynt and a host of others. I have Square because they have a restaurant portion for food trucks and Poynt is very confusing. I don't recommend Poynt at all.
I heard that the stand on requires wifi. How do you handle this with a food truck? We got an ice cream truck but we use a device that works with an app on the phone.
2.6% on a $20 dollar order would be like .50cents lol. its the cost of doing business. cash is going extinct slowly but surely. the square POS is remarkable. the level of customization is second to none in my experience. you should check out there $800 dollar machine
@@fbaltierrez .60 cents from a $20 dollar sell is nothing really. would never step over dollars to pick up pennies lol. i'll take the $19.40 anyday before i turn away the sale trying to avoid losing coins lol. it definitely adds up in the end but its the cost of doing business. just annoying
2.6%? I own brick and mortar and 2.6% is huge. We do 26.33% labor as of today. 45% +/- food cost. 71% before rent and utilities. So 2.6% is kinda a big deal.
Hey Frank, your channel is excellent. I have been thinking about a Food Truck for a while now. I was watching your episode on Merchant Service today and I was curious why you didn't use a card reader with a commercial bank account like Chase or BA for example? Based on what I assume your volume would be your fees shouldn't be more than 2.5 to 3%?
Square Terminal. No need to debate, it does it all. Payments are made easy for customers and Square Terminal takes care of "charge backs" Have not gotten any in 5 months. Knock on wood.
Hey Frank thanks for the latest video I have just one project to finish painting my house and then I will be able to start on my conversion looking forward to it by following your A-Z playlist do I will have a school bus to convert I'll stay in touch
