COVID-19

Sarah Huckabee Sanders Invests In Local Small Businesses

9/8/20 - VIDEO: "With COVID-19 and riots shutting down the nation’s economy, small businesses have become one of the biggest victims. As a result, what they need is instantaneous relief, not weeks of bureaucratic paperwork that might lead to relief from the federal government after it’s too late. That’s why Sarah Huckabee Sanders stepped up to help her community through these unprecedented hardships. She knows that the community, not the federal government is the solution to helping small business owners. These are the stories of American entrepreneurs, and this is how capitalism is saving American small businesses." ~ Turning Point USA / Arkansas 30-Day Fund We have to unleash American ingenuity.. We have to unleash the greatness of our country, through hard work, through helping, through taking care of one and other.Sarah Huckabee Sanders

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Big Restaurant Chains looking at Closing. Could This Be Good For Small, Non-Franchise Restaurants?

Big Restaurant Chains looking at Closing. Could This Be Good For Small, Non-Franchise Restaurants?

8/28/20: For the past five months, other than the narrow margin of industries that have remained un-phased, most businesses have either shut down (temporarily or permanently), re-tooled their business model and operations, or a mix of both. It's now estimated that roughly 16,000 restaurants have closed up for good, with the possibility of doubling that number by the end of 2020. However, there are some larger restaurant chains that were already looking at downsizing, or even closing before COVID entered the ring. For a mix of reasons, perhaps the greatest being a change in consumer trends with millennials, many larger-chain restaurants found themselves sliding into trouble before 2020 began. However, if you're a small restaurant that survives this COVID-ridden paradigm, perhaps there are a few nuggets of information to take away from the problems that the larger restaurants are faced with. Ideas that you can apply to your business model as you continue to create new opportunities to not only help you survive, but thrive moving towards…

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Restaurant S.W.O.T. Analysis To Survive The “New Normal”

Restaurant S.W.O.T. Analysis To Survive The “New Normal”

7/24/20: Kamron Karington is back with a vengeance! Yet, he believes that this is “the opportunity of a lifetime for restaurants”, and offers a brilliant SWOT analysis for these here and now circumstances. Again, now more than ever, it’s important to stay away from third-party online delivery services - "you can't control the customer experience with a third-party service". Kamron will cover that, and offer many other gold-nuggets of information to help you come out the other side of this 2020 craziness. In short, Kamron will give you hope, but he does go on to say that the restaurant business as you know it is over. ...Risks will have to be taken. Period. We at Bay State Merchant Services are serious about wanting our merchants to stay with us as long as they're in business, and with that, we want them to stay in business for as long as possible. We will always try to assist them in any way to do just that.

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Bar Rescue’s Jon Taffer: “I’m not certain a lot of [Vegas] bars will survive this.”

Bar Rescue’s Jon Taffer: “I’m not certain a lot of [Vegas] bars will survive this.”

After rent, the cost to accept debit and credit cards is often the next biggest piece of overhead for a business, especially restaurants and bars. However, since congress passed legislation with the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act, merchants now have options to give incentives to customers that want to pay with cash or check, and this can actually eliminate merchant fees from anywhere between 90 and 100%, even while continuing to take payment cards. This is a game-changer for businesses of all types, especially during these tough times. Jon Taffer from Bar Rescue is concerned that this second round of closures of Vegas bars - that don't serve food - will make it much harder for bars to stay afloat compared to the first shutdown. "I'm not certain a lot of bars will survive this." Taffer says. This is a closure in Las Vegas that affects bars (serving alcohol-only) as of July 10th, due to the recent spike in coronavirus…

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Restaurants: Make Bank With Adaptive Marketing

Restaurants: Make Bank With Adaptive Marketing

6/18/20 - Restaurant Marketing: Another fresh lesson straight from the oven of Kamron Karington with RepeatReturns.com. Author of "Gun To The Head Marketing", KK lays out how important Adaptive Marketing is right now for restaurants as we move out of this shut-down... and beyond. This - rather scientific - approach has made big companies a lot of money, because they cater a huge portion of their marketing directly to us as individuals. They follow the ebb-and-flow of our spending habits over time. However, restaurants can do this too, and typically with the info you're already collecting with your POS system. A general problem with coupon offers is the one-size-fits-all model, which gives customers a chance to spend less. However, a customized points or rewards program will drive more spending from your customers. In fact, Kamron tells the story of one restaurant that went into the COVID shut-down strong, was already using adaptive marketing, and came out three months later much stronger. "Use adaptive marketing to incentivize your…

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Kevin O’Leary – Credit Card Processing Options… and COVID-19

Kevin O’Leary – Credit Card Processing Options… and COVID-19

6/13/20: Business owners must watch. This is a great example of how Bay State Merchant Services can help, especially now. The merchant in this interview - Kristan Sayers, owner of Kbella hair studio in Brighton, Michigan - says that she will only be able to do 30% of her typical business due to COVID-19 and is concerned about consumers feeling unsure about entering her business. In addition to her significant loss of revenue, now she has the added expense of PPE, including face-masks, gloves, and hand sanitizer. Kristan is also concerned about her high credit card processing fees, and asks the panel for recommendations. Kevin O'Leary's only answer to these issues is to "shop around" and look for better card rates. THIS IS NOT A GOOD SOLUTION! Kristan mentions that her payment processing fees are between $10,000 and $15,000 annually, and that she's looking to eliminate these fees. ...Thanks to Congress, she can do this. All businesses can do this. Bay State Merchant Services's Cash Discount Program…

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