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View Poll Results: What is you salons lowest priced monthly EFT?
<$10 2 3.28%
$10-$15 6 9.84%
$15-$20 21 34.43%
$20-$30 25 40.98%
>$30 7 11.48%
Voters: 61. You may not vote on this poll

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Old 01-28-2015, 05:44 AM   #1 (permalink)
 
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EFT Pricing

There has been a lot of discussion about EFT and the pricing of packages especially relating to the "new" waves of low price EFT competitors. Many have said that these low cost EFT competitors are no threat to the Professional salon, So lets see. Where does you lowest price monthly EFT stack up price wise:
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Old 01-28-2015, 02:41 PM   #2 (permalink)
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Re: EFT Pricing

Quote:
Many have said that these low cost EFT competitors are no threat to the Professional salon, So lets see.
Just because a salon is offering $9.99 a month doesn't mean they are not making money or that they are any less professional than those offering EFTs for more. In many cases they are better run & more profitable than the guy who sells for $29.99 a month.

EFT is just one part of the puzzle, takes many pieces to be successful.
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Old 01-28-2015, 03:32 PM   #3 (permalink)
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Re: EFT Pricing

I selected $25 BUT we sell very few of them. Our MOST popular EFT package is our $45 package Level 2 for us.
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Old 01-28-2015, 06:49 PM   #4 (permalink)
 
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Re: EFT Pricing

I selected the 10-15 range- but that is our weekend only eft price. The most popular in our salon is silver level 44.99
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Old 01-28-2015, 08:08 PM   #5 (permalink)
 
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Re: EFT Pricing

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Originally Posted by JOHN @ URI View Post
Just because a salon is offering $9.99 a month doesn't mean they are not making money or that they are any less professional than those offering EFTs for more. In many cases they are better run & more profitable than the guy who sells for $29.99 a month.

EFT is just one part of the puzzle, takes many pieces to be successful.
No one said that low prices = bad service, less professional. The idea is to compare professional salons eft prices to the low cost tanning competitors at $10-20 per month eft price point.
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Old 01-28-2015, 08:33 PM   #6 (permalink)
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Re: EFT Pricing

I sold EFT @ $15/month but that was for the basic beds. Other than that, points. And those on EFT could upgrade via cash or points per session. Many did.

Where ETF makes money is in volume. The more you sell the more the probability they go unused. The less usage, the more you profit. Contracts scare people, but I still had them sign up for EFT with a requirement they cancel in person by filling out the proper paperwork. By having to come in, cancelation was a "hassle" for some to do. Believe it or not, they would rather pay. But you will also find the higher the EFT price, the more likely they will cancel. The lower the price, well then its just a little blip on the checking account.
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Old 01-29-2015, 07:09 AM   #7 (permalink)
 
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Re: EFT Pricing

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Originally Posted by unity View Post
I sold EFT @ $15/month but that was for the basic beds. Other than that, points. And those on EFT could upgrade via cash or points per session. Many did.

Where ETF makes money is in volume. The more you sell the more the probability they go unused. The less usage, the more you profit. Contracts scare people, but I still had them sign up for EFT with a requirement they cancel in person by filling out the proper paperwork. By having to come in, cancelation was a "hassle" for some to do. Believe it or not, they would rather pay. But you will also find the higher the EFT price, the more likely they will cancel. The lower the price, well then its just a little blip on the checking account.
I think this honest post validate everything that I have said about eft's, THANK YOU!
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Old 01-29-2015, 06:04 PM   #8 (permalink)
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Re: EFT Pricing

I think the only thing that's been validated with the data generated by your posts is

1. Most successful salons offer a EFT program of some form.
2. Your lack of ability to design a comprehensive pricing structure to make it easy for all of your clients to spend money with YOU is pushing them to your competition.
3. Your lack of willingness to objectively evaluate YOUR struggling business will cause you continued hardship.
4. Your closed minded take on things is prohibiting you from realizing that all these folks are actually trying to help you rather you're taking it as criticism.
5. You're operating your business through the eyes of a client and not a owner. Meaning "Who cares if they choose to pay for a tanning package and not use what they pay for?" It would be different if they were misled into doing so!
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Old 01-30-2015, 03:20 PM   #9 (permalink)
 
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Re: EFT Pricing

Quote:
Originally Posted by unity View Post
I sold EFT @ $15/month but that was for the basic beds. Other than that, points. And those on EFT could upgrade via cash or points per session. Many did.

Where ETF makes money is in volume. The more you sell the more the probability they go unused. The less usage, the more you profit. Contracts scare people, but I still had them sign up for EFT with a requirement they cancel in person by filling out the proper paperwork. By having to come in, cancelation was a "hassle" for some to do. Believe it or not, they would rather pay. But you will also find the higher the EFT price, the more likely they will cancel. The lower the price, well then its just a little blip on the checking account.
Any package you sell, EFT or otherwise you want the tanner to use. You want to create value in what they purchase so they will continue to use your service. Intentionally making things difficult for a tanner is a bad idea. making things easy and convenient and encouraging use of the membership or package is what you should be doing. This is done with steady communication using todays media.

You want tanning at your salon to be a great experience including convenient methods of payment. Selling a package and hoping they do not use the package is a sure fire way to lower income and repeat business.
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Old 01-30-2015, 09:49 PM   #10 (permalink)
 
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Re: EFT Pricing

Quote:
Originally Posted by DH View Post
I think the only thing that's been validated with the data generated by your posts is

1. Most successful salons offer a EFT program of some form.
2. Your lack of ability to design a comprehensive pricing structure to make it easy for all of your clients to spend money with YOU is pushing them to your competition.
3. Your lack of willingness to objectively evaluate YOUR struggling business will cause you continued hardship.
4. Your closed minded take on things is prohibiting you from realizing that all these folks are actually trying to help you rather you're taking it as criticism.
5. You're operating your business through the eyes of a client and not a owner. Meaning "Who cares if they choose to pay for a tanning package and not use what they pay for?" It would be different if they were misled into doing so!
Who said I was struggling?
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