Somebody else touched on this, but I think it's worth looking into.
True Value as a franchise - one would think - could get a lower rate for their franchisee's if they all ganged up and gave their CC transaction business to one company. (not sure how that'd work across state lines, but at least at the state level).
I don't know the brick&mortar side of this, I run a strictly online business. But we pay a little less than 2.5% because we do a few million per month in transactions. As you know it's hard to compare side by side - there are all the little extra fees thrown in to confuse comparison shopping for cc processing services - but the bottom line is there's the potential to cut that rate down significantly if you could increase your volume.
I would think true value stores could get that kind of volume power through a coordinated effort - have a credit card processor compete for your combined business. I can't see why they wouldn't.
Even if it's just one percent, or even half of a percent, I think it'd be worth the effort.
OR... do they dictate who you have to use, and take a slice for themselves??? I'm curious.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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