Interesting article on gas franchisees offering discounts in Connecticut for customers paying cash.
Tala said Hess Corp. was fine with his decision to offer a cash discount. He knew that Connecticut law already allowed cash discounts, but banned surcharges for credit, and decided to begin offering a lower price on Memorial Day weekend after credit card sales became 90 percent of his business. They had been only 40 percent when gas was under $2 a gallon.
Tala said he wound up paying about $12,000 to $13,000 a month at his Newington store for credit card fees. He wasn’t making enough money to cover his costs.
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Ryan is an attorney and valuation specialist residing in Chicago. He chronicles his thoughts and research on FranchisePundit.com. You may reach him by email ryanknoll@gmail.com or mobile telephone 312-212-3423.
