As a small merchant subscriber I appreciate your content but I could do without the insults. Running a restaurant requires us to split our time among many different challenges and calling us “low i.q.” because we don’t always have the time to parse a deliberately obtuse industry with shady accounting practices to find the best deal. I am trying to find a POS that works for my restaurant. That’s all.
Jay, thanks for subscribing, but we play the law of numbers. We wager than if you ran an IQ test on the SMB market and the same test on MIT graduates, there would be a 40-point spread. That doesn’t mean that all SMB merchants are dumb (these are not mutually exclusive, clearly) but you cannot ignore the validity of our arguments. And yes, the manner in which payments companies extract their pounds of flesh is highly unethical. It is the asymmetry of information that is levered upon merchants, and that is disgusting.
The average profit margin for a restaurant falls between 3% and 9% depending on the type, with fast Subscribe or log in to read the rest of this content.
Honestly, if the payments industry put as much time into furthering humanity is they did trying to sSubscribe or log in to read the rest of this content.
As a small merchant subscriber I appreciate your content but I could do without the insults. Running a restaurant requires us to split our time among many different challenges and calling us “low i.q.” because we don’t always have the time to parse a deliberately obtuse industry with shady accounting practices to find the best deal. I am trying to find a POS that works for my restaurant. That’s all.
Jay, thanks for subscribing, but we play the law of numbers. We wager than if you ran an IQ test on the SMB market and the same test on MIT graduates, there would be a 40-point spread. That doesn’t mean that all SMB merchants are dumb (these are not mutually exclusive, clearly) but you cannot ignore the validity of our arguments. And yes, the manner in which payments companies extract their pounds of flesh is highly unethical. It is the asymmetry of information that is levered upon merchants, and that is disgusting.