Although I am a bit slow to step into 21st century technology, I do now accept PayPal. Just thought I would let people know. Thank you.
That's cool :thumbsup: You build a heck of a nice bow. :thumbsup:
Thanks for the kind words Redant.
Paypal is a convenient service no doubt, but they really rape the seller on fees. Then it takes 2 weeks to get a paper check for your money and have to pay more fees. That's why I normally ask for a money order when I sell something. I don't mind waiting an extra couple of days to get the money in my hands without paying all those fees.
The reality is that there are lots of guys who use their paypal account as their mad money, or slush fund without the "significant other" being any the wiser. So if you don't accept paypal, they generally wander around the net until they find someone who does. I must admit that I'm guilty of that myself.
The only thing you can do is charge an extra couple of bucks to cover the fees, which I know everybody hates to do, but it's a necessary evil if you intend to turn a profit.
Welcome to the dark side Lee.
Yes indeed. I may end up adding 3% for bow sales via PayPal. I keep going back and forth on that.
I certainly prefer the "old fashioned way" of doing business...but the internet kind of prevents the good old fashioned handshake.
It's no different than taking credit cards for your business. I don't charge extra, just a cost of doing business.
Well I don't take credit cards for anything I sell, so I wouldn't know about that end of it.
When you sell an item for $20 shipped, and shipping cost $4 bucks, then paypal gets 3% of that your down to selling it for cost with no margin for profit. I know I'm pinching pennies on that issue, but for somebody who doesn't own their own business, or sell in large volume it does add up.
"I certainly prefer the "old fashioned way" of doing business...but the internet kind of prevents the good old fashioned handshake."
Yes it does and I miss that.
Semo,
That's the point. As a business,I eat the fee. But if I sell something that is not related to my business(taxidermy and bamboo flyrod maker), I ask for the paypal fee. So, I understand where your coming from.
"I certainly prefer the "old fashioned way" of doing business...but the internet kind of prevents the good old fashioned handshake."
I miss too.
"I certainly prefer the "old fashioned way" of doing business...but the internet kind of prevents the good old fashioned handshake."
I think most of use would prefer to do business this way but overall we get greater selection and bettr prices over the internet.
One other thing to consider, PayPal and most of the CC companies also help protect the purchaser. Twice, PayPal has reimbursed me for purchased items that were never sent. It took a couple of months and numerous emails, but I was eventually refunded my money.
I edited my post above about the 3%. I go back and forth on that. On small order like bowstrings and such 3% isn't much, but on bows...it certainly adds up.
Sumohunter, the shipping doesn't come out of the profit, as we charge a separate fee for that.
I agree, I hate Pay-pal too. I stopped using E-bay because they demand you use Pay-pal. If I see something I would like I ask the seller if they would except a postal money order.
I wanted to buy a item on **** it was listed paypal only. I sent a message to the seller through **** that I would like to pay with a P.M.O. He said that was fine with him he would change the listing. After waiting three days and no listing change I had to buy it through paypal. All the messages I tried to send after the first to get his address and total were unanswered through **** for a P.M.O. buy. I think they put a stop to our deal so they could make a buck. Call me crazy but it happend to me.
Don't forget:
1. You get 1.5% back on every purchase you make with PP so you are really only being charged 1.5%.
2. With the dollar crashing, my out of country purchases are rising. Pay Pal changes currencys for you.
I believe I'll keep prices the same and offer a cash discount. That way everyone has a choice.
I'm with prairie drifter, its the cost of doing business. If only one person buys a bow because you conveniently offer that option, that more than covers many future transactions. Credit cards are the same principle.
QuoteOriginally posted by rich e:
I agree, I hate Pay-pal too. I stopped using E-bay because they demand you use Pay-pal. If I see something I would like I ask the seller if they would except a postal money order.
"That is what I also do. If they so no, oh well, I will keep on looking. Sooner or later will run into a seller, who will take a USP money order.
I buy a lot using PP and I won't do business with a seller that has an up-charge.
James.................
I have been thinking about this while I have been working on a few orders...and here is what I concluded for ME. Later, maybe I will change my mind...but for now I make my living teaching science. I make bows as a hobby/business. Yes, I will make money on them, but only at the cost of working overtime...considerable overtime that is.
I have met some bowyers in my life that can put together a bow in as little as 6-8 hours of shop time...and that work in their bow shop using their eye they cut out a riser that "looks good"...roughing out a riser and tiller their bows with a rough belt sander...do some quick mild sanding...and then put on a quick one or two coats of a spray on finish and out it goes. I don't work that way. Every thing I do in my shop takes me a long time because I seek extreme precision. It is my nature and probably why I have two degrees in science.
For ME to make the bow I WANT, it takes me close to 30 hours of work from start to finish, and costs an average of about $250 per bow (if they do NOT have snake skin) in order to cover supplies, materials, maintenance of tooling, website, and such...which I view as costs of doing business. I am NOT complaining though as I ENJOY EVERY BIT OF IT. It just comes down to what I am willing to put my name on. My name won't go on something that I myself wouldn't want. Even my "scrapper" bow was top shelf IMO. There is a very high probability that my production will be limited to my time since I do make a living teaching science. This means, I get paid about $18 an hour to work overtime (and spend less time with my family). Again, I do enjoy it, so I am not complaining, but I think it is only fair to ask the customer to pay for what they want.
In my opinion, Paypal isn't a cost of doing business. PayPal however offers two things to the customer. 1. Buyer protection, and 2. Convenience. Those two things are listed to cost about 3%, but after a few transactions I see it is actually higher than that for some reason (I don't know why yet). For a $800 transaction, it will cost me more than $25...when in reality I would rather just do the old fashioned money order. PayPal doesn't offer me any protection. It doesn't offer me any convenience. It is a service to the client. So, I have decided to charge the 3% for those that want that convenience or protection.
If a customer thinks that is unreasonable, well...maybe I will change my mind if I ever go full time. For now though, I can only make 50 bows a year MAX, so I am going to do it that way as it just makes the most sense to me.
Thanks everyone.