POS and payment solutions for automotive businesses
Choosing the right solutions result in immediate increased profits
The payments world can be a confusing mess. But in an industry where every point of profit margin matters, the POS and payment processing solutions you choose, can drastically add up each year.
Take, for example, one of our clients, an independent family-owned chain of DODO (or “dealer owned dealer operated”) convenient stores. With five locations generating over $12m in revenue each year, most would assume the family-run company retained a fair amount of operating income. However, in reality, the company was lucky to profit $250k a year off a $12m top line. This was split between numerous partners.
By reassessing the various point-of-sale and payment processors used by this client, they unlocked an additional $350k in savings, which went straight to the bottom line, resulting in around $600k of cash flow after their first full year.
Save money and gain loyal customers
Making better decisions when it comes to POS and payment solutions can create additional profits by saving you money, but it can also create better customer experiences by improving checkout and encouraging future visits.
Our client in this example estimates that the average customer went from 1.4 weekly repeat visits to the same store to 1.9 weekly visits in the first full year after switching.
How to know what providers to choose
With so many point-of-sale and payment processing options, how do you know you’re getting the best fees?
Because we’re vendor agnostic and partner with best-in-class providers, we’re able to assess the best options that fit your needs, provide various pricing options, and help you avoid getting locked in to the next door-to-door payment sales person.
The amount and value of transactions you average per year can determine which providers will be best for you. Our advisors can walk guide you through understanding the wide spectrum of payment solutions and discuss which options are best for the future of your company and why.
Payment solutions for your automotive business
POS Systems & Devices
processing.
Pay at the pump
Mobile Payments
Credit card terminals
Virtual terminals
Website processing
Talk to an advisor. No strings attached.
Our advisors are current and former business executives and own their own businesses as well. We approach conversations without the typical technology sales pitch. All conversations are informal with the goal of helping you understand your options.