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Nuances Small Merchants Face with High-Risk Businesses
As a business owner it is a challenge for you to run a small business that involved high risks than the usual businesses. The percentage of risks involved often keep people away from taking up these businesses and running them successfully in these troubled times.
The risk factors increase quite a bit when it involves credit card processing from customers. Moreover, with high-risk businesses it is virtually impossible to get merchant services especially if your business is small or if it is a start-up which is trying to establish itself.
We look a little into the risk factors that make it challenging for small businesses. We also provide you with inputs that can potentially help you with accepting online payments. These are the things that will help you especially if you have a small business or starting up.
High-Risk Merchant Categories
There are many businesses that are categorized into the high-risk domain. Airline industry, online gambling, online casinos, booking for sports, and any other advanced booking categories. However, these are not the only ones as there are many more associated with it.
Why are Risks Higher?
The risk factor is potentially higher with credit card processing for these businesses. This is often due to the chargebacks that they would have to put up with. Moreover, there are not too many merchant services providers who are ready to offer processing of credit cards.
With these factors against them they are unable to accept online payments or credit card payments from their customers. It makes them highly susceptible to the competition that prevails in the market often ending in the failure of a small business.
High-risk merchant accounts often come at a high monthly or annual fee that small businesses are not able to afford. This puts them in a spot of bother when it comes to creating new avenues for their business or getting new customers to come to them.
Alternative Options
The alternatives that small business owners have towards accepting credit card processing would be from POS systems than high-risk merchant accounts. These do not have high fees structures making it relatively easier for smaller businesses to opt for them.
These are easy to use and are capable of accepting a wide range of payment methods from customers. This makes small businesses essentially versatile and give them a potential chance of being able to compete with the bigger players in the market.
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Chrome Hearts is a brand that captures the underground spirit and is an ideal fit for the discerning consumer. Its jewelry and clothing are available at multiple stores, and the brand also offers a website for online ordering. Its pieces are expensive, so those looking to purchase them should be prepared to pay a premium for them.
Chrome Hearts is a luxury clothing brand
If you love high-end clothing, then you’ve probably heard of Chrome Hearts, a luxury clothing brand that specializes in affordable luxury. The brand has a diverse selection that includes everything from $500 embroidered baseball caps to $6,000 jeans. It even has its own line of $8,000 sterling silver jewelry. Founded in a garage in Los Angeles, Chrome Hearts has since grown to occupy three blocks in Hollywood. It now employs more than 2,500 people in 13 buildings and eight factories on its 250,000 square-foot campus. However, the company doesn’t want to expand too far.
Chrome Hearts has multiple stores
Official Chrome Hearts brand started as a leather motorcycle riding gear company but has now grown into a culture based on quality and craftsmanship. The company now sells clothing, handcrafted jewelry, eyewear, luggage, and home goods. The founders are well-known for their commitment to quality and create all their products in small batches.
Chrome Hearts offers jewelry
Official Chrome Hearts offers jewelry with a unique and edgy design. The pieces are made to make a statement and aren’t cheap. However, they are suited to fashionistas who like to stand out in a crowd.
Chrome Hearts has a website
Chrome Hearts is a Los Angeles-based luxury leather, accessories and furniture brand. Founded by motorcycle enthusiast Richard Stark, the brand is known for its exclusive collections, quality craftsmanship and bad-boy attitude. Chrome Hearts is also known for their chunky gothic jewelry, which has carved out a niche for itself in the fashion world. The brand has attracted a loyal fan base and has been honored with the CFDA Accessory Designer of the Year Award.
Chrome Hearts has a Rolling Stones collaboration
The new single from Chrome Hearts features Migos’ Offset. The song is part of the rapper’s ‘Home Alone 2’ mixtape, which follows up last year’s ‘The Blue Print: Us vs. Them’ album, which also features collaborations with Wretch 32, Commme des Garcons, Rick Owens, and Drake.
Chrome Hearts invests in real estate
Chrome Hearts is a handcrafting company based in Los Angeles. They forged a partnership with the Elder Statesman and invested in a minority stake. This investment was both strategic and personal for them.
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