Should More Iowa Restaurants Offer a Discount For Using Cash?
Running a restaurant is no easy task. In 2022 with inflation, worker shortages, and rising fuel costs it has gotten even tougher. Establishments everywhere are looking for ways to save money for themselves and also their customers. A very popular Eastern Iowa restaurant announced yesterday that they will be offering a discount if you leave your plastic in your wallet and pay with cash.
That restaurant is Bluff Lake Catfish Farm in Maquoketa. If you've lived in this part of the state for any amount of time, you no doubt have heard of or visited Bluff Lake. The drive to get there is, well, interesting to say the least. But the food is worth the drive and the wait! And now, if you pay cash you'll save on your bill. Bluff Lake posted the following statement on their Facebook page.
Credit card companies are a major part of inflation and chew up 4% of every sale or tip we make when paying with a credit card. So, effective this week, anything charged on cards will be the reflected menu price. If you pay with cash then you will get a 5% discount off of your receipt!
Bluff Lake, like many restaurants and businesses, has had to raise some of its prices due to inflation and the cost of fuel. By offering the cash discount, they say that they finally might be able to start lowering their prices. Most of the comments on the post are supportive, with many uttering the classic phrase, "Cash is King!"
Personally, I don't carry cash much anymore. Every place you purchase things takes a debit or credit card these days. But if one of my favorite restaurants told me I could save money by using cash, you better believe I'm hitting an ATM before I eat there! Bluff Lake also mentioned looking into getting a no-fee ATM installed on-site, making it easier for customers who forgot to plan ahead.
So what do you think? Are you O.K. with a discount for paying cash?