Jeni and Mike

I think the do unless you have a 20+ unit store even then I would put up a non EFT store against an EFT store any day head to head for Gross Revenue.

ChristineE

I kinda agree.....all I know is that some of my clients tell me they come here because so-and-so down the street "wanted my credit card". Of course I only have 8 units --- don't think I would ever go to EFT....

ellas14

When you are making over 40k from a 16 bed salon in August think how much is being made in Feb--May? As far as Credit card is concerned less than 5% have an issue with this, just ask them how many eft's they have taken out of their account on a monthly basis...

BP

I works well for me.

MATT A

Quote:
On 2005-08-20 14:52:00, Jeni and Mike wrote:
I think the do unless you have a 20+ unit store even then I would put up a non EFT store against an EFT store any day head to head for Gross Revenue.




I totally disagree.

angelcat04

We are about to start eft's & I am very excited about it. I firmly believe it is going to make our business grow. I don't know of a big chain or franchise that doesn't do EFT's.

jetsontan

THIS thred sucks who agrees ??? What better way to learn that we all have different opinions on how to do the best job?
Thats what we live for, is not? Thats what lets all of us make money, variety. We are not the same and nether are our customers.

mr belvedere

EFTs, depends on your perspective. They're good for both owners and customers. They're also bad for owners and customers. Do they influence a customer's decision to tan at a salon? Usually. Many are influenced to tan somewhere else if they are forced to sign up for EFT. People who tan at EFT salons would be tanning there anyway, with or without an EFT contract. EFTS can be a real PITA for both owners and tanners. Sign up, cancellation, double draws, transfer errors or delays, etc. Owners that like EFTs tout it because they can count on a guaranteed sum of funds in their account each month, and they know some tanners will go for weeks without tanning but never cancel their EFT because it's only $20 bucks. I cannot think of one reason to not offer EFTs, unless it costs you more money than it generates. Good luck. I personally don't like them or offer them purely from the PITA perspective.

Jeni and Mike

40K at 20 bucks is 2,000 active clients. TWO THOUSAND. That would be a 16 bed salon doing over 500K per year. Yea, there ae a ton of salons out there like that.

JohnnyComeLately

I have a mixed opinion. I know and understand that reoccurring revenue is a very good thing. Microsoft has nailed it to a science with business IT departments and now sits on billion$. It's just too bad Sun Microsystems didn't drop their "our stuff is better" and bring their price points down. (sound familiar?) With that said, we have a hard time with it. Even if we GIVE IT AWAY, we have high resistance. We had a scripted sales promo during our Free Tan Week. Meaning, a large majority heard, "No contract, no minimum, no sign up fee, first month free..." People still didn't like it. So maybe it's a function of demographics. I'm in a highly afluent neighborhood. It's very normal to see a thirty-something woman roll up in a Mercedes, Lexus or other 35-50k car. They just don't want the automatic payments pulling out.

I've noticed my competition has dropped their lowest to "18.88" with the stipulation, "competition bed only". I'm not sure what that means. Hollywood and several others do $19.99. We've kept ours at $30, so that is the only thing left to try and change. We're about to swap out a few base beds, so maybe after we pull them out for level2 beds, we'll do it too and then never change those bulbs





Just kidding about the bulbs part