5 Reasons Your Personal Training Business Needs Direct Debit Payments.
Personal trainers are all-too-familiar with the headaches of client payments. Clients not paying before their session, having to track people down for late payments, wasting time going through your accounts to make sure nothing is missed or out of date... it's not fun!
However, there is a solution and it all lies in the power of direct debits. If you want to take your personal training business to the next level, it might be time to invest in upgrading your payment system. Here's how...
What Are Direct Debit Payments?
You may already know but just before we talk about the benefits, let's define what direct debit payments actually are.
A direct debit is an automatic transaction that transfers money from one account (e.g your client) to another (you!). As a personal trainer you can set up recurring direct debits which will instantly put your client's payments on autopilot. This payment option will make your life easier, eliminate a lot of financial stress, and help you run your fitness business more smoothly.
If you want to take
your personal training business to the next level, it might be time to invest in upgrading your payment system.
1. Direct debit Payments save a LOT of time.
Saying that personal trainers are busy people is something of an understatement.
Your day typically starts at the crack of dawn as you work with early morning clients. Then, if you're lucky you get a little break in the middle of the day before your evening clients show up for their sessions - not to mention, you're usually busy training people on the weekends, too.
You have enough going on each day without having to bog yourself down with admin! By using direct debit payments you can automate the collection process. Once you have set your clients up, you will instantly remove the process of manual invoicing, chasing up payments, reconciling and more... (aka the terribly boring side of the fitness industry).
2. Direct debit Payments eliminate human error.
If you are constantly typing up invoices or going over your books late at night, you're probably going to make some mistakes or miss important details (you're only human after all).
This can lead to missed payments (e.g thinking you received a payment when you didn't), cash flow problems or in the case you sent the wrong invoice, clients might get cranky (or at the very least, confused) as to why they're being charged more or less than they originally agreed.
Accepting direct debit payments and automating the payment process doesn't just save time, It will also ensure a higher level of accuracy and eliminate a lot of potential for human error.
3. Direct debit payments give your clients more motivation.
If your clients know that their account is automatically going to be charged, they're going to be more motivated to show up for their personal training session. Furthermore, if they do have to miss a booked session, they're going to be more inclined to follow the proper protocol and cancel when they're supposed to.
Let's say you have a cancellation policy that requires 24 hour notice if a client can't make it to a PT session. If they don't cancel within this timeframe, their account will be charged the full amount for the session.
With direct debit payments, it's easier to follow through with your cancellation policy and charge your clients if they do not abide by your membership agreement. The money will be automatically deducted from their account, and you won't have to worry about chasing them down or convincing them to pay you what they owe. Think about how much time and energy that will save you!
This process also encourages your clients to be consistent with their sessions. It also helps them with their monthly budgeting and saves them from having to pay extra late fees. Everyone wins!
When you automate
your payments, it becomes much easier
for you to keep track of your business’s cash flow.
4. Direct debit payments provide extra security.
Some clients may be a little wary of the direct debit option because they're concerned about their data being stolen or getting into the wrong hands.
This fear makes sense at first, especially when you consider the rise in cyber crimes throughout the world. Fortunately, if you invest in the right direct debit processing system, you can provide your clients with peace of mind regarding online payment.
You also get to enjoy extra peace yourself - remember, data breaches are expensive for business owners and can even cost you your credibility as a personal trainer.
Direct debit payment software like PayChoice is safe and reliable. All of the financial data for your personal training business, as well as your clients' data, is securely stored with PCI DSS Level 1 Compliance.
When you share this information with your clients and assure them that you've gone above and beyond to protect their data, they'll likely feel much more comfortable switching to a new payment processing option.
5. Direct debit payments give you more predictable cash flow.
When you automate your payments, it becomes much easier for you to keep track of your fitness business's cash flow. This, in turn, allows you to plan and budget more easily.
This benefit is especially important for new personal trainers to keep in mind. As you get your fitness business off the ground, you need to be extra conscious of the money coming in and going out.
You might not have as much of a cushion right now, so every dollar counts. If you can confidently plan on a certain amount of recurring payments coming into your bank account every month, it'll be easier to keep up with your bills, pay for new supplies and equipment for your personal training clients, and pay yourself regularly.
Remember, too, that consistent cash flow can make you a better trainer.
If you have confidence that you can keep the lights on, you'll also have more energy to dedicate to your clients and help them reach their fitness goals.
Set Up a Direct Debit Payment Gateway Today
Are you starting to see just how many benefits direct debit payments have to offer you as a personal trainer? If so, it's time to take the jump and set up your direct debit payment gateway.
PayChoice makes the entire process easier than ever, and you can low transaction fees (MUCH lower than our competitors) along with Australian-based support and industry-leading security. PayChoice also integrates seamlessly with a variety of programs, including ones you're probably already using (like member management software).
Get in touch with us today to set up a demonstration. You'll quickly see why thousands of businesses prefer PayChoice for their direct debit payments.