5 Steps On How to Take Deposits in Your Salon
If you’re a professional in the beauty industry, then you know that one of the biggest challenges you face is reducing the no-show rate. When clients don’t show up for their appointments, it can be very frustrating and costly for your business. Just think about this: according to statistics, missed appointment rates range from 10% to 50%. That means losing money for your business.
But for every problem, there’s a solution.
To guarantee your business’ growth, you can secure your income by taking deposits in your salon.
How do you reduce appointment cancellations?
In every appointment-based business, there’s a certain number of no-shows expected. It is pretty hard, if not impossible, to get rid of them permanently. But anyway, there are a lot of things you can do to keep your percentage the lowest possible.
According to a poll created by Goldie, professionals in the beauty industry have, on average, 3 no-shows or fewer per week. Too much or acceptable? It’s up to you to decide. But you can reduce it even more if you start sending appointment reminders and follow-ups to clients.
Also, if you start taking online deposits for appointments in your salon, you will encourage them, even more to show up to their appointment because nobody wants to lose money. Especially you.
Below, you are going to find a step-by-step guide on how to take deposits in your salon.
Step-by-step guide on how to take deposits
1. Download Goldie and create an account
This scheduling app might be exactly what you’re looking for, as it has everything you need at a decent price.
It lets you book appointments online, send automated reminders to clients, stock and manage clients’ information, check your financial reports, manage your whole salon staff, and process payments and deposits.
Note: the payments integration is available in most, but not all, countries. Check out this article to see if it’s available in yours.
2. Set up your business details
After that, set up your account details, and especially your online booking page. Here’s a full guide on how to do it.
This is how your online booking page will look like by using Goldie.
Also, pay attention to set the right prices for your services in the app. That will be very important, as the amount that you set is the amount clients will pay.
3. Set up what payments you’ll process
If you’re done with setting up your profile, let’s go to the next step. It’s time to enable payments in your app.
Keep in mind that by using Goldie, you can take payments without any additional expensive equipment. Your mobile device is all you need. Just make sure you’re subscribed to one of Goldie’s paid plans.
To enable the payment feature, go to the left menu bar. Then, tap on the “Payments” button. Next, tap on “Set up payment processing.” From here, you’ll enter basic information about you and your business (much of which will be populated using your Goldie account info).
Once your account is set up, you’ll see a “Balance” shown on the Payments screen in Goldie. With Payments activated successfully, you’re good to go! Here’s a full guide on the Goldie payments feature and how to set it up.
One of the most important steps to take after setting up payments is setting the deposit amount you’ll collect when clients book an appointment. To do so, go to Menu > Settings > Payments > Deposits and then select the desired deposit percentage. Now you’re ready to say goodbye to no-shows and ensure you get paid.
4. Formulate your salon deposit policy
Another essential step to do when you’re wondering how to take deposits in your salon is to actually create your salon deposit policy. You can decide how much you will charge clients in advance, and make sure you write in detail how deposits will be processed.
After you create your salon deposit policy, it will be displayed to clients on your online booking page.
Make sure to research in advance before creating your deposit policy. You may find in other salons’ descriptions something that you relate to or something that you may want to add. Here you can find some salon deposit policy templates.
5. Keep track of your financial reports
Knowing exactly how much income you have in your salon is essential. Not to mention how useful it is to know where they come from.
By being able to track your financial reports, you can see what are your best performing months, who are your most loyal clients and what services sell best. This way, you can create your salon marketing strategy accordingly.
For example, if you notice that your top-grossing service is women’s haircut, then you can offer in the low months a freebie with that best seller.
In Goldie, you can see and export your financial reports, check what services bring you the most income, how many new clients you have in a certain period, and many more.
Also, if you have other staff members in your salon, you can see your total salon earnings or individual earnings for each staff member.
“Absolutely life-changing for my solo business adventure!! I have struggled for a few years now to keep track of my clients and income. The end of the financial year was a nightmare, but this app has made it so easy for me. It is so worth a few $ a month!” – Laura Monsalve
Now, you’re all set. It’s time to promote everywhere on social media your online booking page and start taking deposits from clients.
By doing so, you will not only stop losing money, but you will also increase your customer base by being even more accessible to book. And people love easy-to-do stuff!
Here’s an article about the best marketing ideas for salons in 2022. Hope you can find some inspiring methods for growing your business.
One last tip: you can link your Goldie online booking page to your Instagram and Facebook “Book Now” buttons and let clients book a session with you via social media. This is the perfect occasion for you to increase your client base, totally secured by asking for deposits in advance.