For context, I’m in construction, so our margins are a little lower, but I’ve got to imagine that pretty much any business that isn’t a fortune 500 company’s gotta be feeling my pain here.

Just ran the numbers on what payment processing fees actually cost us last year now that my accountant brought me a new one and I’m genuinely angry at myself for not doing this sooner.

We did $2.8M in revenue. Sounds great until you factor in our 8% net margin – that’s about $224K profit before fees.

Breakdown of what we paid:
– Card transaction fees: roughly $47K
– ACH transaction fees: roughly $23K
– Total: $70K gone

That’s 31% of our profit taken. Nearly a third. On a good year.

Anyone else feeling this pain? What has everyone here been using to actually get paid?