The fitness industry represents a diverse set of enterprises around the globe, each with a unique focus. One common denominator for all fitness businesses is payment processing. Running quality payments for your business is important. This is the truth whether you’re inviting members to practice calming ujjayi breath, diligent martial arts training, or sweat-dripping functional fitness. Continue reading for a broad overview of why smooth payment processing will save you time, money, and make your members more excited to participate in everything you have to offer.
We all know the feeling when we walk into a restaurant with too many options. The crippling indecision of having to pick between two meals, either of which would make us happy, can be off putting. This, however, is not the case for member payments. Members like to have multiple payment options at your fitness business, many of which are only possible with a payment processor. For example, giving a member the option to switch from credit card to ACH bank withdrawals may be the difference between them cancelling their membership or not. What’s more, many of these options end up saving your business money in the long run.
Sidestep Payment Declines
Credit card processing has its ups and downs. While quick and convenient when they work properly, card payments can also create a lot of administrative work around resolving payment declines. In fact, each month about 19% of member bills go unpaid. This can be for a number of reasons, each of which can be easily resolved or avoided altogether with the right payment processor. When equipped with the right processor, you can sidestep tedious administrative tasks and instead enjoy the positive outcomes of credit card processing (storing cards for automatic billing, charging packages, gear, and snacks to a member’s account, and so on).
A Clear Payments Procedure
Clear communication with members about billing is key to them maintaining a positive relationship with your fitness business. Giving members a quick, digestible, and comprehensive picture of when they can expect payments to be withdrawn from their account requires a crystal-clear payments procedure. This includes documentation of billing and cancellation policies, any additional charges to note like no-show fees, and when monthly membership dues are processed. Creating these procedures becomes easier with a payment processor offering automatic payments and a dedicated team of support.
With 30-plus years of experience, the Gains full-service billing team can help your fitness business run smooth payments, resolve declines, and provide plenty of payment options to keep you members engaged and ultimately bring you and your staff more time and money. To learn more, connect with a specialist today.