Writing for people who run service businesses
Product updates, practical guides and what we are learning from salons, garages, clinics and trades across the UK.
8 articles
What a card payment actually costs you
Card fees are quoted as a percentage plus a fixed pence amount. The pence part is what hurts on small tickets. Here is the arithmetic on a £40 cut.
Payments,Cashflow and profit are not the same number
Profitable businesses run out of money all the time. Here is why the two numbers drift apart in a service business and which one to watch on a Monday morning.
Payments,Gift cards, the cashflow win and the catch
Gift cards bring money in months before the work happens, which is exactly why they need treating carefully. What to set, what to record and what not to spend.
Payments,Chargebacks and disputes for service businesses
A chargeback takes the money back out of your account and charges you a fee for the privilege. Most of them are winnable and almost all of them are preventable.
Payments,Should you still take cash?
Cash has no processing fee, which is the argument everybody makes. It also has a banking cost, a counting cost and a record keeping cost that nobody puts a number on.
Payments,What a 20% discount really costs you
A fifth off the price is not a fifth off the profit. On a typical service it is closer to half. The maths gets worse the better your discount performs.
Payments,Do you want to take payment on your phone?
Taking a card on the phone in your pocket is now ordinary. What it actually involves, what it costs against a card machine and where it genuinely does not fit.
Payments,Do you want to stop chasing lesson payments?
Driving instructors lose money in two places: pupils who cancel on the morning and lessons that get taught before they get paid for. Both are fixable with a rule.
Payments,