Health and beauty professionals are in the business of putting clients first. That means arranging your services around their needs and wants. That includes how they’re able to pay, too.
Fail to make the process quick, painless, and with the option of accepting credit card payments at your small business and it could create a big headache.
Case in point: “cash vs credit card statistics show that 80% of consumers prefer spending with a card over cash,” explains Fundera.
Don’t hurt your business by being a cash-only operation. Follow these steps to find better ways of managing the cash flow for your small business.
Cash Management Solutions for Small Businesses
Recording cash, credit or check payments is essential for any business. Gina’s Platform makes it extremely easy to enter this information. In most cases, the information has already defaulted from the appointment information and all that is needed is to confirm the entry.
Need to perform more complex functions like merging tickets, splitting tickets between credit and cash and percent coupons, and discounting services? Gina’s Platform simplifies the process, so you can accomplish a variety of multi-step transactions without breaking a sweat.
Did you know you can even have sales tax for products get automatically applied? That fancy french balayage formula won’t know what hit it. Sales tax reports can also be created by quarter right at your fingertips, making sales tax time a snap.
Salons and wellness centers love being able to make requests for payments in advance for services or purchase of a product, both of which can be emailed and or texted to your clients so they can pay them online.
Gina’s Platform is one of the best ways to accept credit cards for small business, hands down. They even offer no contracts, no fees, a free reader and a low, low 2.52% processing rate with no hidden terms You read that right. Credit card processing is just 2.52% (chip or swiped) with no transaction fees. Check the fine print on your competitors and see if they can say the same. Gina’s Platform truly is the lowest in the industry – period.
According to Kabbage.com, “The fees for Square are 2.5 percent per transaction or a monthly flat fee of $275. Compare this to the 3 percent you can see with credit card processors and the fact that you can never really budget for fees with traditional processing systems because of all the factors that go into determining them.”
Want to give the option of paying with cash for a discount? That functionality is built right into the app. This means it costs you absolutely nothing to take credit cards.
You won’t have to stress about inventory management either. Every product you sell is recorded. Once it starts getting low or runs out, you’ll get an alert. You can even run reports to show how much profit you made from product sales in a designated period.
When it comes to small business cash flow management, Gina’s Platform not only improves your customers experience, it also help beauty, health, and wellness businesses grow their business by offering features that should aid in manage finances and payments.
Payment Management FAQ
Why are some businesses cash only?
Small business cash has its place, but if you’re cash-only out of intimidation, time to rethink your payment options.
What are multiple payment options?
You could certainly include cash as one of them, but other payment forms include credit and debit cards, as well as mobile payment options like Paypal, Apple Wallet, and Google Pay.
Why are multiple payment options important?
Some clients may keep track of their transactions by paying with certain cards. Others may be loyal to a certain credit card because of the rewards options they offer.
Why do small businesses not accept credit cards?
Some may feel it’s too expensive or complicated, but Gina’s Platform helps with both!
Why is it important to manage cash flow?
No one wants to give the IRS any reason to come digging through their books. Having an organized cash flow management system makes your bookkeeping infinitely easier.
Want to learn more about how to accept credit cards for small businesses? Sign up for Gina’s Platform and we’ll walk you through it.
Beauty Icon and Expert
Gina Rivera skyrocketed to success when the company she founded in 2007, Phenix Salon Suites, became the fastest-growing salon suite company in the beauty industry. With more than 300 locations nationally and international expansion occurring in the UK, Entrepreneur Magazine named Phenix Salon Suites a Top 500 Franchise list seven years running.