When you lift the hood on your expenses, you never know what you will find.
But uncovering $30,000 of savings in EFTPOS fees alone?
That discovery left, Justin, the owner of two Midas car mechanic franchises, speechless.
Covid - the catalyst to review costs
Justin says he started his first car mechanic franchise 22 years ago and always had the same bank.
“To be honest, I had never paid attention to my merchant EFTPOS fees before. What a mistake!”
When things got tight during the Covid lockdowns, Justin started to review all his costs. That’s when he learned how much his bank was charging him to accept payments.
“$30,000 in merchant fees every year! I was gob-smacked! That’s a heck of a lot of money for my business.”
“I spoke to my accountant, and we both asked the same question: “Why are we paying these fees?”
“The answer was even more straightforward: We shouldn’t be. So let’s change that.
“We did our research and found Smartpay’s Zero Cost™ EFTPOS. It sounded like the ideal solution to help us reduce our expenses.”
Zero cost™ EFTPOS gives expenses a tune-up
With Smartpay Zero Cost™ EFTPOS, there are no bank fees. Instead, the payment solution automatically calculates a surcharge and adds this to the final amount for the customers to pay.
“Nearly all our customers have been very supportive of the change. They understand we operate on tight margins, and I think surcharging is common now.”
“Even our local government department has been surcharging for credit cards for 15 years.”
“With surcharging, my customers always get our best price, and they can still pay cash or direct debit if they want to.” Justin says.
Switching EFTPOS providers like an F1 pitstop.
“Because I work 12 hours a day and am very time-poor, a concern was that the switch in providers would be a time-waster and cause headaches for my team and me.”
“I shouldn’t have worried. The switch to Smartpay was so slick.”
“I still have my bank accounts. I just moved my EFTPOS to Smartpay. The team there took care of everything. The terminal arrived, and it was plug-and-play.
“I’ve got 12 mechanics, and they find the new terminals easy to use. Everything is automatic. They just enter the service price and done! It just works.”
Savings covers new part-time receptionist
“The savings have had a significant impact on my business. Best of all, we can now afford to employ a part-time receptionist.”
“That’s taken our service to another level, so our customers are winning here too.”