Business

Before Profitability: How Long Until You Run Out of Money

  Defining Profitability Calculating Run Rate Establish How Long You Can Stay in Business Changes You Can Make to Become Profitable Defining Profitability First, let’s define profitable. At the most basic level, being profitable means achieving something beneficial, usually making money. For small businesses, that means that your business is earning more money than it…

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It’s a sad fact that if your business isn’t making more money than it’s spending, at some point you’re going to run out — And in almost all cases, that means you’re out of business. With a good understanding of your costs, margins, and sales, you can calculate exactly how long you’ll be able to stay in business. More importantly, you can use those figures to make informed decisions so you can survive longer, and get a plan in place for achieving profitability.

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Credit Card Processing

Using a PayPal Account In Store: Cards and the PayPal App

The two companies have reached an end to a 3-year-old disagreement where First Data would not allow PayPal transactions. PayPal also reached deals with Visa and Mastercard. This shows that PayPal is willing to play nice with the card brands it has previously clashed with, and is serious about eliminating previous hurdles that have prevented…

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It’s here: Taking PayPal in stores.

Okay, technically it’s been here for a little while, but the number of stores that can accept PayPal is about to shoot up dramatically with the official beginning of First Data’s in-store PayPal acceptance.

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Buying Groups

National Association of Retail Buyers and Sellers Review

This review is part of our directory of buying groups/group purchasing organizations. Buying Group Name: National Association of Retail Buyers & Sellers Industry/Specialty: Retail Number of members: Unknown Website: http://www.narbuyers.org/ How does this group work? NARB bills itself as a community of retail professionals who share insights and ideas. Once you join, you get access…

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The National Association of Retail Buyers & Sellers (NARB) is a non-profit founded in 2009 by two retail industry veterans. Their goal was to create an organization that would help retail professionals share information and best practices with one another so that all members could succeed. One of the benefits of joining NARB is that you’ll get special offers (read: discounts) from vendor sponsors. However, increasing members’ buying power isn’t the sole purpose of this NJ-based organization. It also seeks to develop members’ careers and serve as a resource for many aspects of retail buying and selling, store planning, and product development. Unlike many buying groups or group purchasing organizations, NARB is only open to individuals, not to businesses.

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Buying Groups

Royal Buying Group Review

This review is part of our directory of buying groups/group purchasing organizations. Buying Group Name: Royal Buying Group Industry/Specialty (if applicable): Independent Convenience Store Retailers Number of members: 6,000+ Website: http://www.royalbuying.com How does this group work? Like most group purchasing organizations, RBG negotiates rebates and discounts on behalf of its members. As a member, your…

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Royal Buying Group (RBG) was founded in 1995. The group, based in Illinois, is designed to support independent convenience store retailers. RBG negotiates with national vendors to increase members’ buying power and reduce their operating expenses. In addition, this buying group offers such benefits for its members as educational programs and networking events.

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Buying Groups

HTSA Group Purchasing Organization Review

This review is part of our directory of buying groups/group purchasing organizations. Buying Group Name: HTSA Industry/Specialty (if applicable): Consumer Electronics Number of members: 65 Website: http://www.htsa.com/ How does this group work? There isn’t any information on HTSA’s website about how members of the buying group make purchases (whether they buy directly from vendors or…

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The Home Technology Specialists of America (HTSA) is a group purchasing organization for consumer electronics retailers. A group of consumer electronics retailers founded it in 1996, and, as of September 2016, is the only member-owned cooperative buying group in the consumer electronics space. The group’s purpose has always been to give independent retailers in this field a stronger voice, which it does by increasing their purchasing power, serving as a forum for best practices, and increasing members’ market share.

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B2B, Credit Card Processing

B2B Transactions: Level 2 and Level 3 Credit Card Processing

Unfortunately, in October 2017, Visa raised its rates for some commercial transactions and businesses won’t save as much by providing Level 2 or Level 3 data as they did before the change. However, if you take a lot of corporate cards, it can still be worth while. By the end of this guide, you’ll be…

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You have probably been told that business credit cards are expensive to process. That’s not exactly true. What you haven’t been told is that there are steps you can take to get lower pricing. It doesn’t matter how big or small your business is – if you take business credit cards, you can qualify for better rates. B2B transactions don’t have to cost more.

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Buying Groups

The Veterinary Cooperative (TVC) Review

This review is part of our directory of buying groups/group purchasing organizations.  Buying Group Name: The Veterinary Cooperative Industry/Specialty (if applicable): Veterinary Medicine Number of members: 1,000+ independent clinics Website: https://www.theveterinarycooperative.coop/ How does this group work? You can continue using your current suppliers, or you can use the ones TVC has identified. TVC doesn’t distribute…

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The Veterinary Cooperative (TVC) touts itself as America’s largest veterinary industry purchasing cooperative. It’s located in Evanston, IL, although it’s actually incorporated in Minnesota. Founded by four veterinarians in 2012, the goal of the cooperative is to ensure independent veterinary practices and hospitals remain profitable by gaining a great deal of purchasing power and marketing prowess. In addition to its purchasing activities, the Veterinary Cooperative offers revenue-enhancing programs, profit-maximizing programs, and an online best practice knowledge exchange.

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Buying Groups

NATM Corporation Buying Group Review

This review is part of our directory of buying groups/group purchasing organizations.  Buying Group Name: NATM Buying Corporation Industry/Specialty: Appliances/electronics Number of members: 11 Website: http://natmcorp.com/ NATM was founded in 1970, but offers very few details about the group on its website. Strangely, there’s no information to be found on what NATM stands for, and…

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NATM Buying Corporation is a group purchasing organization based in Irving, TX but operating across the United States. It has 11 regional members that sell appliances and electronics. Despite its relatively small membership, it’s a nationally recognized group and all of its members are leading retailers in their verticals. This may have to do with the requirements to join, which include a stipulation that a member business must do at least $50 million in sales per year.

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