As a business owner, you depend on a reliable, consistent cashflow to help achieve your growth and profit goals. Vagaro Merchant Services (VMS) is here to help you generate the consistent income you need to not just run your business, but take it to the next level. Let's see how.
Did You Know:
Vagaro has its own dedicated live and local VMS support team, who work diligently around the clock in order to keep your funds protected and account secure.
Don’t Lose Money: Require Deposits for Your Services
If you pair VMS with Vagaro's Online Shopping Cart, you can require a deposit upon the booking of services or classes with your business. By requiring deposits at the time of booking, you ensure that customers have a committed payment method on file, which reduces the risk of no-shows and last-minute cancellations. This means you can operate more confidently, knowing your bottom line is secure.
Deposits also ensure you won’t lose money on a cancelled appointment or a client no-show, acting as a form of insurance against potential losses. In cases where your customer might fail to show for their service, you’ve already received a portion, or all (the customization is up to you) of the payment, which helps offset any costs incurred in preparation.
Memberships & Packages Generate Recurring Income
Automated recurring payments with memberships and packages can help you build a stream of recurring revenue for your business and offer clients savings in return. They can also function as a backup pool of funds that'll help you stay afloat through seasonal peaks or uncertainty. Memberships and packages even boost client retention since your clients will want to visit more often to take advantage of the perks of what they’ve paid for.
The ability to pay in advance is also a powerful incentive, especially for your busiest customers. Offering discounts as part of the purchase can motivate customers to buy a package or membership, knowing they can schedule their visits for a later date. As a business owner, you'll have the advantage of getting paid upfront for services you'll deliver later. This means you’re automatically generating revenue with a reduced number of no-shows since your clients paid in advance. Ultimately, the predictability that packages and memberships provide you with is especially crucial in times where money might be tight, while still offering lucrative perks to consumers.
Gift Card Sales Provide Instant Revenue
Going back to the Online Shopping Cart, you can also use it to offer gift cards online! Gift cards are a great way to instantly boost your business's revenue, as there's a high probability that the recipient may not actually even use it. In fact, 47% of American adults have unused gift cards, totaling around $23 billion of unspent funds.1 What does this mean for you? Well, it means you can reap the benefits of the gift card sale immediately, while potentially not having to ever spend the time or the money on the actual service.
Acquire Funding with Vagaro Capital
At some point, securing external funding may be needed to propel your business past a plateau or obstacle. Our solution: Vagaro Capital. Regardless of the size of your business, you can rely on Vagaro Capital to help provide you with the means necessary of achieving your vision. You can apply in minutes, and get access to your funds in as soon as two days. OC Thomas, owner of Rich in Flesh Barbershop & Tattoo Studio, used Vagaro Capital to give his entire space a complete facelift. Check out the video, here!
Before You Continue:
See how you can maximize your business growth with Vagaro Capital in this previous article.
Be Flexible with Vagaro Pay Later
Payment plans or pay later options can attract customers who may not have the immediate funds to make a full payment upfront. By breaking down the cost into smaller, more manageable payments, you can increase your sales volume and potential reach. With Vagaro Pay Later, your clients can make larger purchases, paying over a six week span in four installments. The purchase amount, minus a 6% non-refundable fee per transaction, is then deposited into your bank account the next business day!
If you're ready to optimize your cashflow while maximizing revenue, consider a complimentary 30-day trial with Vagaro, the software that can flex, scale & grow with your business.
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