![]() ![]() Sending a check can take quite a few days or even weeks to complete the process and clear a bank. Credit card payments save time and improve cash flow for businesses Now let’s talk about some of the benefits to salons who pay vendors, utilities, suppliers, and everyone else, using a credit card, rather than sending paper checks. You may also like: What’s the cheapest way to accept credit cards? Advantages to your salon of paying vendors and suppliers via credit card rather than by check or online bill pay Let’s go over a few perks you can benefit from when you pay your salon’s bills with a credit card, and then we’ll talk about ways you can pay everyone using a credit card-even if they don’t accept credit card payments (nope, we’re not kidding!). Why should you care? Because there are quite a few advantages for you to paying all of your vendors, suppliers, rent, utilities, etc. So small suppliers or local vendors may not be set up to accept your credit card payments for their services. Smaller businesses like local hair and nail salons including one-person shops and freelancers typically pay even more of their bills with paper, or the cumbersome “online bill pay” method where you have to have a different login for each vendor or business you have to pay.Ĭredit card processors and third-party payments facilitators usually charge between 2% and 5% to businesses that accept these payments, and for some vendors, these fees can eat up a significant portion of their profit-or all of it. In fact most businesses still pay at least half of their bills using paper checks. So 2000 clients can now be done with 400 tubes, only costing us $3980, HALVING our cost per year.Īll that money goes into my pocket and it’s something that you should review at least every year as companies love to do deals to get you to continue to do business with them.5 advantages for your hair and nail salon of paying vendors and suppliers with a credit cardīelieve it or not, business-to-business credit card payments are still in the stone age, for the most part. Once we completed basic mixing and application training and I explained all the costs to the team, things turned around. No peroxide or lightener, shampoo or conditioner or styling products. We were only getting 2.5 colours completed from 1 tube of colour, so we were buying 800 tubes of colour totaling $7960 JUST ON TUBES of colour. Now, last financial year, we did over 2000 colours. ![]() Out of shear laziness, team members were mixing up DOUBLE this and slathering on colour unnecessarily. Basic regrowth application was 20mls peroxide to 20mls of colour. The colour range we use is 1:1 and come in 100ml tubes. For Salon use products like colour wastage, we went back to basics and went through mixing ratios and application to ensure, quality services but with minimal wastage.Įxample. Now a days with savings debit visa cards, why use someone else’s money and pay them for the privilege with interest if you can just use your own.Ĭlean your dryer filters, oil your clippers and scissors regularly to save money on repairs and replacements. I changed out SIM card for our SMS to an unlimited one for $29 pm saving $240 paĬall your bank, see if they can’t do you a better rate on your loan.įlip your credit card to a 0% balance transfer then GET RID OF IT! Wages, by getting a staff member to start and hour later or finish an hour earlier on the quieter days, i saved $120 Pw $6240paĬhanging from buying Magazines from the newsagents to subscriptions I went from paying $1560 per year to $600 saving $960 per year Phone and internet $40 pm as my plan had not been updated for 4 years $480 pa Here is what I saved from 2 days hard work on the net and on the phone.Įlectricity $300 per year if I paid a set amount every week so I was always in credit. For example, Rent.įor everything you can adjust, spend the time to make calls, do research. You then need to work out which ones you can’t change, the ones that are fixed. Then using your profit and loss reports, bank statements, phone bills etc, and work out a weekly, fortnightly and monthly break down of how much you CURRENTLY spend. ![]()
0 Comments
Leave a Reply. |