Finding the right Billing Company to manage your direct debit payments for your members can be difficult. This industry has had a bit of a shake up and you will find some players pulling out or swallowed up by larger companies, which can cause disruptions to your cashflow and member management. We are happy to direct you to providers that offer a competitive rate, have a high service level and will be around for the long term. They will also be ones that we have road tested and secured a discounted rate for you.
When you look at selecting a billing company to collect your student fees there are a number of factors you need to consider, when comparing one against another.
Here are 10 things you need to know about billing services:
# What is the standard transaction fee for EFT / credit card transactions (percentage or flat fee)
# If they charge an ongoing administration fee to maintain your account
# What level of security do they have on your client banking details
# Do they charge an initial set up fee per student and if so what it is
# What are the default payment charges
# What is the follow up process on a default payment
# What exactly do they do for you when you take up a full service package
# Are they integrated with club management software (who / how many)
# Do they lock you into a long contract (how long) what does it cost to leave
# How easy is it to change student fee prices or suspend member payments
Negotiating a special rate for volume transactions -
Everyone understands in how businesses get discounts on volume purchases, the more you buy the cheaper the rate, correct. That’s how franchises / chain stores are able to sell products at low prices and the same goes for obtaining lower transaction fees and other value-added incentives.
How do you get a volume transaction rate when you are a single business?
You need to have thousands of members transacting weekly and that may not necessarily give you much of a discount on the basic rack rate. Alternatively, if you are just starting out or don’t have high volume transactions, you can speak to the right software provider, (for example ClubManager Software). They have negotiated a great deal for everyone including the small businesses. A few associations / networks have also negotiated discounted rates for the smaller clubs / academies / gyms as well, such as Martial Arts Australia (MAA) and Fitness Professional Australia (FPA).
Contact us today to find out more information about billing company services PHONE - 03 8201 9908
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