IMHO, I think you should look into the expense & paperwork (time) vs benefit on the credit cards. I'm sure that CC's might bring in a little more business. Not sure if it would help your bottom line. I am not sure if issueing credit to your customers was an option. If it was, I would strongly reccomend against that. I personally know of two lumber business' one huge, one small, that were brought down primarily due to bad receivables. In this economy, bankruptcy, is not uncommon. Even if a customer does not declare bankruptcy, chasing money is a frusrating reality. I would think that you would need a current cash flow to buy materials and pay for labor, including yours!
Hope this helps Craig.
Richard
I've been accepting cc for 10 years. most of my cc transactions are for lawn sprinker repair and services, however, I do regularly have people pay their installations with cc because of miles and free gifts. my rate is about 2.65% with a .25 cents per transaction fee. But I get my money in 24 hours, no bounced checks, no chasing money. On a $3,000 install, it costs me less than $100.00. I can live with that to get my money. Just my 2 cents. Don't do American express, their fees are outrageous. good luck
As a consumer i would say that it is worth it for you to take credit cards.
I have used them almost exclusively since I had a whole lot of trouble with a carpet installer I had in my house several years ago. It was a nightmare experience that i won't go into but ultimately i was able to reverse the charge on my CC until the job was done to my satisfaction. Prior to doing so I could not get him to answer my calls after he left the job 3/4 done. One he was out $1100 he was at my house 2 days later.