Giving a discount for cash payment
I have a small landscape design/build company here in Brooklyn NY. I am in my second year of business and finally getting to the business part of things. My question is, how do I determine what type of discount to give for cahs payment? Most of my projects are in the $4k- $15k price range. I have 3 parttime employees whic I use as needed. I know that I pay about $9.50 per $100 of salary to workers comp. I also have liability insurance, storage space, car etc as expenses. Is there a reliabale formula to compute what type of discount I can give for cash? I know that I will save on WC etc. If I pay the workers cash on cash jobs but what else do I need to know to decide if maybe 5% off for a cash payment will work?