Cryptic Credit Card Fees Should Be Illegal with Patrick MacLellan
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Bulletproof Dental Practice Podcast Episode 151
Hosts: Dr. Peter Boulden & Dr. Craig Spodak
Guest: Patrick
MacLellan – Merchant
Cost Consulting
Key Takeaways:
- How can you plan to hit the ground running when current pandemic is over?
- Merchant Cost Consulting helps you evaluate your merchant processing company and analyze what they’re charging you in fees
- Now is the time to tighten down and get lean & mean
- Merchant services are very deceptive, they’re designed to confuse and obfuscate
- Fees tend to increase 3-4x per year, nobody has the bandwidth to keep checking
- MCC does all the legwork and negotiation with the merchant processor
- They’ll negotiate reduction in fees going forward, and will also obtain refunds for situations you’ve been overcharged
- Then they police & audit monthly statements to ensure against fee-creek
- MCC is only compensated when clients save money
- MCC splits savings 50-50 – for Bulletproof listeners they’re offering 55-45 split (Practice receives 55% of savings, MCC receives 45% of savings)
- $10,000 in sales is $10,000 minus the cost of labor and goods sold. $10,000 in savings is $10,000.
References:
Blog
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3 Biggest Bottlenecks of an Entrepreneurial Dentist: PART 2 with Perrin DesPortes of TUSK Partners
