Bulls beat Jazz to win ‘98 NBA title 87-86!!!!!
What’s a point worth? Ask the ‘98 Utah Jazz after MJ hit his hold-the-pose jumper over Bryon go-ahead-and-push-off-me Russell. How about half a point? Well, the sports analogies don’t work so well. Except maybe for soccer, which is, arguably, the stupidest spectator sport ever. And could probably come up with some insidious way to have team A beat team B by half a point.
How about a point on your profit/loss statement? If your restaurant is pulling in what might be argued a paltry $30K/month, that’s a great deal of money. In fact, it approaches paying my fees if you want your financial oversight needs outsourced.
I helped a restaurant client switch over from one credit card processor to another. Saved him about a point in costs. During his best months, that pushes $1,000. That’s a great deal of money. And the thing about it was that he wasn’t even paying an exorbitant rate. We were just able to find a company who processed his credit cards for a notably more reasonable rate than the one he was paying. And he’s now been with the new company long enough for us to confirm that there wasn’t a bait-and-switch teaser rate that got upped after a certain period. It’s the real deal.
I’m not writing this to stump for a particular merchant card processor. But it is possible to cut costs in a wide array of areas of an income statement and both favorably and materially increase the bottom line.
Look around. Are your cleaning supplies too costly? How about the guys who clean out your grease trap? Is your main food vendor still stinging you with ‘energy surcharges’ (which is French for gas-prices-are-through-the roof) even though fuel costs are much lower than they were last summer? Are those banners too pricey? Take a little time to examine, make calls, do your homework, and price shop. While it’s not always the end-all, beat-all determinant for an expense, it certainly should be closely monitored.
Now, let me get back to the game. Last I checked USA was up on España two-nil. Uh, wait a minute.
Tags: Chicago Bulls, Credit card, Merchant fees, NBA Finals, restaurant accounting, Utah Jazz