Why do so many ethnic restaurants only take cash?!
Answers:
Simple. Credit card companies charge businesses a fee to have the credit card machines. What most people don't know is that even the best run restaurants will generally not make more than a 6% profit. This means that for every dollar brought into the restaurant, only 6 cents will be profit. Restaurants have a lot of overhead, so anywhere costs can be cut, they will be cut.
Its just not ethnic restaurants. A lot of restaurants do this.
chef
29 years in the industry
Cash is money in hand and they do not have to wait for there money and in some cultures like Italians they are cash people a lot of them do not trust in banks.
Because many are Family owned and are on a cash basis Accounting system as opposed to accrual.
because its hard for them to believe that a lot of immigrants actually own credit cards.
Coz the tax man cannot work out how much they are earning from their business
We love it. Cash money why not?
For real.
Because setting up to take credit cards can cost money.
I have never run into one and would not eat at one
Many are fronts.
