Doing the Numbers on Credit Card Processing

My contract with the oh-so-crappy credit card processor, TransFirst is expired! All I can say is "YAY!"  I had originally thought I would return to Costco Merchant Processing. They were exactly what they promised: fees clearly stated up front and never came up with "charges-charges" like TransFirst did! There were months where half my earnings went to that shyster company!

But in doing the math, I realize my business is not what it was when I started. And, I have more and more in-person sales at shows and classes than I did in the beginning. Yet, I cannot afford to have two "gateways" or merchant accounts.

I signed up for square and then realized that Paypal HERE is just a few pennies cheaper (and in my world, pennies MATTER!). Plus, I'm familiar with Paypal. The money is there immediately. But still, that 3.5% for my mail orders seems high!

I can pay a cheaper amount by diverting my web customers to paypal directly... 2.9% + .30 transaction fee... which on a $30 sale saves me 3 cents! Hardly worth paying a web-developer for!

But the fact that Costco "seemed" so much cheaper kept bugging me. When that happens there's nothing to do but sit down and do the math!

For comparison:

Costco  1.99% on keyed in transactions + 25 cents per transaction. Costco also has a monthly fee of $20.
Paypal Here 3.5% / keyed transaction + 15 cents per. No monthly fee.

I started with what I wish I made: 4K a month. I guestimated 80 transactions.  Using those numbers, Costco would cost 119.60 vs. Paypal Here's 152.00. But... I don't make anywhere near that!

So I put in 1750 and 70 transactions. Here the prices were close: Costco came out to 72.33  vs. Paypal's 71.25

I upped it a bit to 2000 a month and 70 transactions... and Paypal edges ahead to 80.50 vs. Costco's 77.30.

Now I know that somewhere between 1750 and 2K a month, I need to get a cheaper processor. While it's nice to have goals, I haven't seen that kind of dough in five years.  Anyone wanna buy a swiper??? ;-)

Southern California Marble Show

Any Marble makers out there? Marble lovers and collectors??? I'm sure!

An interesting turn of events in the glass world of So. Cal. Beloved boro teacher and marble maker, Mike Close has decided to work and live in Thailand for several years. What's to happen to the Marble show he ran???

Beloved soft glass marble maker, Rich Shelby has stepped up and taken over. And as of early December, almost all of the booths at the show were sold. With just a few spaces open, Rich says, "I'm not sure if I should be thrilled or frightened!"

I've known Rich for.... decades! I first met him at the INCREDIBLE rubber stamp shop his wife Laurie owned and Rich worked at when not at his day job. He's such a sweet and talented guy - Who wouldn't say that about one of Santa's twin "helpers" who poses for pics at Christmas fairs??? (That beard is REAL!)

Rich was also one of the rare male guests I got to produce on the Carol Duvall Show...Rich made a rubber stamped clock.

And then one day, I was at a glass meeting... and there was Rich. He makes beautiful marbles and is a kind and patient teacher.

And thanks to him, the marble show goes on! It will be held on March 20, 2010 in Fullerton at the Anaheim Park Hotel. For hotel reservations: 714-992-1700.

To see if there is a booth available, contact Rich: richshelby (at) ca.rr.com.