Credit Cards vs Cash Only
March 29, 2014
I am seeking experienced opinions on credit card vs cash only at a dive/college nightclub. The business has been operating for many years on a cash only basis. We are open 2 nights a week. We are currently operating at about $8.5 dollars per patron on a busy night, excluding vending, cover, atm etc. With that being said will adding credit cards raise the price per head enough to justify the $1500-2000 a month loss in atm activity? I realize the majority of you take credit cards and I understand why. Basically we will have to increase sales by at minimum 5-7 percent by adding cards. Is this likely? Thank you.