Fees are part of doing business. Whether it’s debit-card processing fees, PayPal’s fees, membership fees, or anything else, it’s a cost of doing business. It is unfortunate in a sense that we have to pay fees, but we can choose to look on the bright side: it is the price we pay for the privilege of being business owners. Being our own boss does come at a cost, and this is part of it.
Trying to avoid paying fees
Complaining about having to pay fees is like complaining about having to pay the rent on our offices. We don’t hear people doing that, do we? “Gosh, the rent on this office is killing me! Does anyone know how I can get out of paying rent but still get to use this office?” It sounds ridiculous, and yet . . .
Just replace “rent on this office” with “PayPal fees” or “credit-card-processing fees” and read that again: “Gosh, the credit-card-processing fees are killing me! Does anyone know how I can get out of paying the fees but still get to use the service?” Rent is part of having an office, just as fees are part of doing business.
Constantly, people are on social media complaining about paying fees and asking whether there are ways to avoid these fees. Worse, rather than point out the ludicrous nature of their requests, people give the requests credence.
Some people suggest providers that have lower fees. Some suggest unethical and illegal ways to avoid the fees. This is akin to giving advice on how someone can avoid needing to sleep. It’s not something that should be avoided, even if it could be avoided.
How high are card processing fees?
Credit-card-processing fees and PayPal fees are currently three to four percent of what the business owner is paid. That’s not high. That’s not unreasonable. Pay the fee and be thankful, because it means you have payments coming in, which means you are succeeding in your business.
When we look at it that way, it makes it a lot easier to accept that fees are part of doing business. Here’s to your success!