Like any other enterprise, the art supplies business is based on trust. But a difference between art supply businesses and other kinds of businesses is the special interests and personality traits that the business owner and customers often share. Being creative and in touch with their emotions, artists aren’t always business-minded and a desire to deal with the business side of things is usually not the reason people get into this business. Nevertheless, it is important to focus on the bottom line.
Sometimes, art supplies and materials are offered as part of a larger stationery or craft shop. Art supplies include the essentials that painters, sculptors, designers, animators, and craft-persons require. Often, these need to be purchased on a regular basis. For instance, canvases, brushes and paints have to be replenished frequently. As a business owner, you can either choose to offer a diverse range of art supplies or you can opt to be a niche supplier. Some art materials stores sell only products for painters, costume designers, stage backdrop painters or sculptors, for example.
Whatever the nature of your business, offering friendly, convenient and safe payment processing options keeps you growing and competitive. Today, any business that doesn’t provide credit card or debit card acceptance will risk losing both customers and relevance. Credit card payments are secure, easy, and fast. They also ramp up your revenues considerably, because studies show that customers with credit cards tend to make more impulse purchases. And, of course, it’s nearly impossible to expand your business online unless you will accept credit cards.
There are many ways in which art materials business owners can leverage the power of credit card payment processing while minimizing any risks.
Respect customer information: Credit cards provide important cardholder data and information. Deploy effective security technology and educate your staff on these issues.
Stay in compliance: The PCI Standards Council has set up certain standards for merchants and service-providers across the world. Make sure you follow these standards.
Select a card processing company that’s right for you: Check what documentation they require, and how long the approval process takes. Some companies make unrealistic promises, tuck hidden payments into the fine print or don’t provide you with the support you need in case of disputes.
Avoid long term contracts: Your card processing company may offer long-term contracts which seem attractive but they may also carry large termination fees.
Keeping your art supply business both healthy and growing takes sustained effort, the ability to hold a vast and varied inventory, and staying in touch with your customers needs, including providing them with the most convenient payment options.
For more information about how your art materials business can accept credit card Payments, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.