| There are 13 comments on this blog. |
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Unfortunately in this lawless state, cash is bait.
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Lol apparently. I was very annoyed and frustrated. And a lot of companies lost money on what I imagine is a pretty expensive venture. Such is life.
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But, more importantly, has your gob recovered from the smacking??!
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Gobble gobble!
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It should be illegal to refuse cash payment.
But in the Fool`s Golden State, stupid policies are normalized daily.
As for me, if they say No Cash, I say No Sale.
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Knotts is like that to. But some of the private vendors did take cash last I was there.
I try to tell people this is coming, and here it is.
Carry on cause no one listens to me anyway. When I'm 3 to 6 months ahead of the lame legacy news cycle.
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Yeah, No Cash. Cash is dirty and is a Covid carrier.
CC only, but now we slap a CC Fee on it for 5-8-10% because we are so cheap we don't take it as cost of doing business and adjust price accordingly anymore.
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I can't get a credit card with my 207 fico score.
So I won't be going to any fairs soon.
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I just looked at the fair website....and while I did not find any statement that only CC's can be used...no cash...I did not find a statement like that anywhere on the site..it may be buried somewhere but I did not find it....what a shame...I mean everyone does not have a cc. They shud have made that very plain on the site! Shame on them!
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As someone who works in this business, let me just tell you how it works. The reason they don’t want cash is because all of the vendors are charged a percentage fee by the fair organizers. Typically it’s around 20 to 25% of sales. Sometimes as high as 30% or more. Guess how they keep track of this? They forced the vendors to use a POS system that is provided by the organizer and the organizer, and then collects the fees, deduct their amount, and then remit the difference to the vendors. That usually takes about a week to get paid or longer. If you’re caught using Cash, you get thrown out.
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My business just did the same thing for the World Cup. It operates exactly the same way. Every big event is going in this direction. Coachella is 100% this way and vendors are paying about 50% of their sales to Coachella.
Also, that’s why prices are so fucking high. If vendors are paying a 25% fee, do you know how much prices have to get marked up to keep the same profit margins? 33%. Not 25%. Do you understand why? Because it’s 25% of whatever you make the new price. If you only mark it up by 25% you will fuck yourself because you don’t understand basic algebra. You have to take your price and divide it by 0.75, which is one minus your fee in decimals. That means you’re going to mark up your price is 33% to offset a 25% fee.
And as vendors were not allowed to say this or disclose this because there’s a non-dispersement clause and an NDA when we sign up to be vendors at these events.
So we can’t tell you that the reason you’re getting fucked on prices is because of the greedy organizers.
Remember, the event once every last penny, they are entitled to and the only way to do that is to say fuck you to cash. And to require you to use their own POS system. The icing on the cake is that they get to keep your money, interest free for a few days so they could actually invest it and make some money on it.
Bet you guys didn’t know this shit.
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Lol
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Dude, im the guy, that told the guys, to fuck you guys!
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| There are 13 comments on this blog. |
