Credit cards have been a common payment method for decades—at virtually every retail business but barbershops. The “cash only” rule has worked for barbers in the past, but times have changed. In this world of technology, your clients may not have cash on them. They expect to use mobile payment options like apps, scans, and swipes—especially if they’re young.
Payment provider Ikajo International reports that 42% of us use mobile phones to make purchases, but millennials are the biggest driver of this change. Some 65% of them have purchased something with their phones. Millennials are also more likely to shop with a debit or credit card instead of cash.
That doesn’t mean cash isn’t still a popular payment method at barbershops, but it shouldn’t be the only type of payment that you accept. With the use of digital payments on the rise, you’ll exclude potential customers who have either gone paperless or prefer to pay digitally. It’s time to jump into the 21st century and consider more payment options. It’s a change that can potentially boost traffic to your barbershop, and appeal to millennials.
Benefits of New Payment Technologies
If you’re an independent contractor or rent a chair from a salon for a monthly fee, you always want to optimize your dollars. We get that cash is often the preferred payment method because you don’t have to pay any transaction fees that can take away from your take-home pay. But do you really want to miss out on potential clients—and their digital dollars?
If you’ve been hesitant to take on digital payments, these benefits should ease your fears:
- Merchant accounts are easy to set up. In just a few minutes you could be on your way to attracting a whole new clientele.
- They can keep the books. Electronic payments track who purchased what and when, so they can show you who your clients are and what services they prefer. E-payments, as they are called, can also generate invoices and receipts. Instead of doing paperwork, you can do more of what you love!
- They encourage clients to spend more. It can be tough to entice clients to purchase extra services or beauty products when they only have enough cash for a shave or a trim. But when the dollars are digital, people are able, and usually more willing to spend more.
- Many E-payment vendors cater specifically to barbershops and salons. Squire, Vagaro, WellnessLiving, and goPanache are just a few that operate with your needs in mind.
Some E-payment vendors also offer flat transactions fees that are reasonably priced, so you don’t need to worry about throwing away your paycheck to cover the cost of a digital payment. You can always increase your prices just a bit to cover any fees you will incur. Your services are worth it, right?
Whether you’re already crushing it as a barber, just starting out, or thinking about enrolling in Barbering School, you need to know all the ins and outs of the profession. At Salon Success Academy, we’ll teach you the latest techniques in grooming, cutting and styling—and how to provide excellent customer service and run your business like a professional. We offer our Barbering Program at our Riverside, Upland and West Covina campuses. Fill out the form to get started on the journey to a rewarding career in Barbering now.