As a small business owner, you dream big and work harder. You likely have bullet journals full of to-do lists and productivity apps open most of the day. Maybe you have a spreadsheet…or ten. There’s one thing we’re going to suggest taking off your plate though: relying on cash or check payments for your services. Instead, these are the major benefits of accepting credit card payments for your business.
1. It’s the Industry Standard
Checkbooks and cash simply aren’t the go-to anymore for most retail or service-based purchases. Credit cards are. Your competitors accept credit card payments, as well as your neighborhood daycare center, your grandmother’s online jewelry store, and your local farmers market booths.
Secure, simple and seamless, credit card payments are the industry standard for consumers and businesses. When customers forget to bring a checkbook or are not carrying cash, your business is forced to wait on payment and take responsibility for making sure it is received. Additionally, these added administrative tasks like, chasing down paper payments or sending reminders to your customers interrupts the flow of business.
Credit cards remove those unnecessary tasks and deliver the payment experience that customers expect.
When we say that convenience is one of the major benefits of accepting credit card payments for your business, we mean it. It’s not that it’s a nice-to-have feature for many customers; it’s that not offering this option represents an additional challenge or hurdle for them.
Credit card payments have become a payment method of choice because they’re convenient. Today we find that using any other payment method has become increasingly more inconvenient.
Today’s customers don’t just enjoy the ability to pay with a card—for many of them it’s the only payment option they tend to carry with them now.
3. More Time
As a business owner, your time is money. Whether you offer community music classes or teach ballet to teens, your time is better spent focusing on your classes, curriculum, and creativity. By allowing credit card payments after class or by accepting one-time or recurring payments online, you’ll have more time to focus on your business.
It also saves your customers time, something we’re all after these days.
With online payment features, your customers can make payments any time, day or night. If they have some downtime at work or deal with all their bills on Monday night, they can easily pay your bill wherever and whenever they want. If they want to save more time, they can enroll in recurring payment options so they can truly set it and forget it.
4. Reliable Cash Flow
Many service-based businesses are already set up for optimal cash flow. If you teach gymnastics to preschoolers, for example, you know that each student will typically return for a set number of classes at a fixed cost.
By accepting credit card payments for your business, you can enjoy the actual cash flow you expected during registration.
As noted, allow customers to set up recurring payment plans. It saves them time and brainpower and ensures on-time payments. With predictable and reliable cash flow, you can better forecast future revenue to invest back into your business.
Benefits Of Accepting Credit Card Payments With Studio Director
We aim to make it easy to accept credit cards through Studio Director. Our payment partnership with the best-in-class payment solution provider, PaySimple enables new Studio Director customers and existing to accept credit cards easily. Integrated directly within Studio Director, credit card payments are tracked and managed right within your dashboard.
In addition to the mentioned benefits of accepting credit card payments for your business, you’ll also enjoy:
- Industry-leading payment security to keep your customer’s personal financial information safe and secure
- Flexible professional payment options with one-time payments or easy recurring billing options at no extra cost
- Secure credit card storage for an expedited checkout process, which is great for class registrations or equipment purchases
- A complimentary rate review for your unique business that ensures our credit card processing rates are the best fit for your sales volume
Most importantly, when you work with Studio Director and PaySimple, you gain a partner for your business. Every step of the way, award-winning customer service is available to help your business succeed.