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View Poll Results: What is you salons lowest priced monthly EFT?
<$10 2 3.23%
$10-$15 6 9.68%
$15-$20 21 33.87%
$20-$30 25 40.32%
>$30 8 12.90%
Voters: 62. You may not vote on this poll

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Old 04-13-2015, 01:49 PM   #21 (permalink)
 
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Re: EFT Pricing

There are fees associated with checking accounts too. If you cut out of credit cards and debits cards you are eliminating the majority of your consumer base. Most people don't carry their checkbook anymore. Need to close the sale right then, versus asking them to return with a voided check.
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Old 04-23-2015, 12:00 PM   #22 (permalink)
 
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Re: EFT Pricing

Quote:
Originally Posted by BTANN View Post
There are fees associated with checking accounts too. If you cut out of credit cards and debits cards you are eliminating the majority of your consumer base. Most people don't carry their checkbook anymore. Need to close the sale right then, versus asking them to return with a voided check.
The initial start up can be put on a cc so they can start tanning right away, they bring in a voided check so you can get account and routing number.

cc's get maxed out and a draft will not go through. debit cards can be replaced simply by going to the bank and asking for a new one and the old one is no longer valid. Cancelling or changing a checking account is a much more difficult process and the tanner is less likely to do so.

To get the value and benefit of the eft membership should require a checking account draft. Now this is something you can choose to do or not but it will reduce failed drafts by 60% and bank fees are much lower than cc fees. Simply something to consider. Many of the chains that you fear coming to your market do it this way.

If you choose to do cc that is fine, this is an option that can be considered.
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Old 04-23-2015, 12:07 PM   #23 (permalink)
 
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Re: EFT Pricing

Don't just grab what you charge for eft out of the air. You must calculate what will get you the best return in your market. How you structure start up fees and membership fees is an important part of perception of value and how much you actually make money from an eft tanner. There should be a formula to every type of package in a well structured pricing that adds to the overall effectiveness of your entire price structure. Different salons, different structures, all with maximizing income potential in mind.
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Old 07-27-2015, 10:42 PM   #24 (permalink)
 
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Re: EFT Pricing

Ditto to Steve's comments on credit card rejects. They fail at a very high rate compared to checking accounts.
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Old 12-20-2018, 04:33 PM   #25 (permalink)
 
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Re: EFT Pricing

I just purchased this business it is already well established. They had not done any adverting in the last 2 years I am tying to bring in some new business we live in a small town but it is growing fast. I am trying to come up with a EFT membership contract and could use some help?

I sell them in session pricing but I am struggling with the unlimited packages.

I just have 3 levels (1 - basic, 2 - Hight power, 3 - Versa spa) bellow is how I have my prices broke down. The 12month option is the new option I am adding in as of the first of the year if I can figure out the best way to work it?

2 weeks unlimited $35 and $55 and n/a
1 month unlimited $50 and $80 and $85
3/month EFT unlimited $40 and $64 and $68
12/month EFT unlimited $20 and $40 and $50

If I charge a $25 enrolment fee, do I call it sign up fee or Membership fee (do you charge it per year or just a one time?)

How much is a good amount to charge for a cancelation fee?

How do I handle peoples cards being declined and then not being able to get ahold of them? Do I put past due amounts?


My last question is I have been trying to do special like the (12 tans for $12 with purchase of lotion) but I have had 3 of my EFT clients want to buy it and put the membership on hold so they can use that? Would I charge them to put a freeze on the membership account?


Thank you for your help I have been racking my brain so much and some friends give advice but I think I need to see how other successful tanning salons work it?
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Old 12-23-2018, 04:52 PM   #26 (permalink)
 
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Re: EFT Pricing

you guys just dont get it!
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