Adventures with Corndog: Corndog's Fish Store
- Thread starter Corndog
- Start date
Tmac
Adventurer
- 9,483
- 16,096
Electronics are one thing, but I still enjoy being able to feel my clothes before I buy.
Retail is not dead. There's just simpler/cheaper methods for people who already know what they want.
Famm
Ahn'Qiraj Raider
- 11,041
- 794
Well, I'm talking about shit like filters, heaters, tanks, stands, hoods, lighting, pumps, etc. Which is essentially same as what you probably mean by "electronics" in terms of the benefit of online variety and pricing. I can see buying tanks and stands in person due to the size and shipping cost, so he could be doing some business there. I always got mine used or free on classified ads or from people who gave up.
When you say "dry goods" is that hardware stuff too or more like food and chemicals?
The dry goods I'd say are mostly LED lights, sponge filters, chemicals etc. Not much food. People only need so much food.. The ONLY reason I'm moving so much dry goods is because my prices in store are the same as online.
Part of the problem though is that an LED 4 foot fixture. Costs me like $120 and I sell it for $180 because that's the online price. So it's not doubling my money, but I wouldn't be selling nearly as many if I was doubling.. which would be $240.. People would just order it on amazon etc.
Now I've found a place I can order those 4 ft lights for $100 each, but I have to buy atleast 6 at a time and pay for shipping... I'm wondering if buying them as I need them, 1-2 a week from my local wholesaler is smarter than pre-ordering 6 of them and making $15 more per light sold. The problem comes that space and money isn't unlimited and I've heard working capital is king. If I have 3k in lights sitting in the shop and need to pay the rent and don't have the money it doesn't do me any good.
Part of the problem though is that an LED 4 foot fixture. Costs me like $120 and I sell it for $180 because that's the online price. So it's not doubling my money, but I wouldn't be selling nearly as many if I was doubling.. which would be $240.. People would just order it on amazon etc.
Now I've found a place I can order those 4 ft lights for $100 each, but I have to buy atleast 6 at a time and pay for shipping... I'm wondering if buying them as I need them, 1-2 a week from my local wholesaler is smarter than pre-ordering 6 of them and making $15 more per light sold. The problem comes that space and money isn't unlimited and I've heard working capital is king. If I have 3k in lights sitting in the shop and need to pay the rent and don't have the money it doesn't do me any good.
So I ordered and got my bluetooth barcode scanner for the Square Register system... It's awesome. The range is great. I still get signal like across the street from my store etc. It has cut checkout time by like 50% at least. I'm considering whether I want to implement it on my fish and plants or not. Have the barcode at the aquarium, can scan it to put it into the system.
How do you like Square overall? Do you pay the flat monthly fee of like $246 with 0% on transactions or do you do the 3.75% each transaction?
Yea, thanks for the corrections. I was trying to go off the top of my head what I remembered the rates being.
opiate82
Bronze Squire
- 3,078
- 5
With the flat rate, there are also monthly and yearly limits. I don't know what the monthly limits are (guessing around $20k), but the yearly cap is $250k. So basically if you process between $120,000-$250,000 per year, the flat monthly fee is more cost efficient. Although, if you go over $250k they just charge you the 2.75% per swipe after that so you aren't out anything, but realistically if you are doing over $250k you could probably get a better rate through a traditional processor.
You also got to take the monthly limits into account if your business is highly seasonal.
You also got to take the monthly limits into account if your business is highly seasonal.
I love square. I read tons of horror stories etc on the internet before I switched to it. Ever since I have, I haven't had a single problem. Instead of having problems, sometimes I come into work and there's an update and I've gained more features. I love the fact I can look at the data online away from the shop etc. I can see what was sold, when etc.
There are a few things square still needs to improve upon and I believe they will....
You can't take a split payment. Which even with just any other system.. Split payments have always rustled my jimmies in retail. So like they say, here's 10 cash and put the rest on the card... Square has no way to do this, you'd have to ring up 2 transactions.
You can't give a partial refund. So if someone buys $100 worth of stuff, and wan'ts to return a $5 item.. You can only refund the whole purchase...
Inventory control. You can't put like 10 widgets into the system and have it alert you when you're low etc. I wouldn't use this in my business anyways.
So far I've never needed to return an item. Split payment came up once, said I couldn't do it, it was all run on the card no problem.
It does have pluses... Like it makes you look fancy as fuck. The average consumer's mind is blown that they can sign with their finger etc. Somehow it makes it upscale etc. I like not having to send any batches to the CC company.
Had my biggest sales day yet today. on a Tuesday of all days..
There are a few things square still needs to improve upon and I believe they will....
You can't take a split payment. Which even with just any other system.. Split payments have always rustled my jimmies in retail. So like they say, here's 10 cash and put the rest on the card... Square has no way to do this, you'd have to ring up 2 transactions.
You can't give a partial refund. So if someone buys $100 worth of stuff, and wan'ts to return a $5 item.. You can only refund the whole purchase...
Inventory control. You can't put like 10 widgets into the system and have it alert you when you're low etc. I wouldn't use this in my business anyways.
So far I've never needed to return an item. Split payment came up once, said I couldn't do it, it was all run on the card no problem.
It does have pluses... Like it makes you look fancy as fuck. The average consumer's mind is blown that they can sign with their finger etc. Somehow it makes it upscale etc. I like not having to send any batches to the CC company.
Had my biggest sales day yet today. on a Tuesday of all days..
opiate82
Bronze Squire
- 3,078
- 5
The one other major downside to Square is if you take a lot of keyed-in entries (e.g. credit cards over the phone). They charge 3.5% + $0.15 per transaction on those, even if you are on the $275 per month plan. Those are rape-level rates there.
On top of that, they will only deposit ~$2,000 worth of keyed-in transactions per week and hold the rest of the funds for 30 days (cash-flow killer). Probably not a big deal for Corndog, but for other businesses that do a lot of business over the phone or are otherwise not in a position to swipe most of their transactions, those are deal-breakers.
On top of that, they will only deposit ~$2,000 worth of keyed-in transactions per week and hold the rest of the funds for 30 days (cash-flow killer). Probably not a big deal for Corndog, but for other businesses that do a lot of business over the phone or are otherwise not in a position to swipe most of their transactions, those are deal-breakers.
I believe they will correct that soon. But honestly it's not that big of a deal. The way I "deal" is saving 4k on another POS system that has other bullshit things besides this to deal with. I've put 20k through the Square system now. Had 2 returns, they just ended up exchanging it for store credit for something else out of the store.
I think it works just fine for a mom and pop shop like mine. People give more leeway in that situation. However if I was petsmart, no one would put up with it.
On an unrelated note. Has anyone run a facebook contest? Like post a picture of your aquarium, get the most likes and you'll get $100 gift certificate type of deal.
I'm wondering if it worked out well for them. To me it seems like it'd get me more facebook likes, but does that mean anything if they don't have an aquarium? Maybe word of mouth? They might not have an aquarium but probably would know someone who does as 1 in 10 people own an aquarium.
Maybe this type of contest promotion only works for a brand that anyone could use. Like a local grocery store, or old navy etc?
I'm wondering if it worked out well for them. To me it seems like it'd get me more facebook likes, but does that mean anything if they don't have an aquarium? Maybe word of mouth? They might not have an aquarium but probably would know someone who does as 1 in 10 people own an aquarium.
Maybe this type of contest promotion only works for a brand that anyone could use. Like a local grocery store, or old navy etc?
Tmac
Adventurer
- 9,483
- 16,096
As far as contests go, feature something people are excited about.
The contests that I've seen be successful are things that involve weddings or the like. Maybe women are the real excitable ones...I dunno.
If your customers are enthusiastic aquarium builders with epeen, you should do it. If they're all just whatever amateurs, it probably won't gain attention.
The contests that I've seen be successful are things that involve weddings or the like. Maybe women are the real excitable ones...I dunno.
If your customers are enthusiastic aquarium builders with epeen, you should do it. If they're all just whatever amateurs, it probably won't gain attention.
I switched to an S corp at tax time. Now I'd like to pay myself my salary this month. Tax person said they charge $75 a month for payroll services... so I need to learn to do this myself.
I'm going to start googling now, but hoping some of the other business owners have tips.
I'm going to start googling now, but hoping some of the other business owners have tips.
Quick books does it all. Pay your accountant to set it up for you and show you the ropes then you can run everything from there. Also look into an intro to quick books class at your local community college.