There’s nothing more frustrating than a client cancelling at the last minute. Hearing a notification from your phone telling you that they want to cancel their anti-wrinkle treatment right after you’ve paid for your product and prescriber fees. Not to mention, blocking out your time for that client. In a few moments, you realise you’ve lost money, time, and potential clients. No wonder you’ll be left fuming afterwards!
If this is you, then you share the same sentiment with tens and thousands of practitioners. So perhaps, have you considered getting deposits? It’s a feature that makes clients scared, but the trend of clinics incorporating it into their booking processes is increasing.
Weighing both the pros and cons of deposits can be a headache, but we’re here to show you what deposits can do for your aesthetics business! Let’s have a good old chinwag about deposits.
This blog will help you understand the importance of deposits in your aesthetics clinic!
What is a Deposit?
Deposits are upfront or partial payments made before your clients get their treatments at your clinics. The amount of deposit will usually vary per clinic; however, it will usually cover the product costs. You can take deposits through:
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– Cash
– Bank Transfers
– Through an online booking system
Here are 7 proven reasons why clinics set deposits this 2024
1. Secure Appointments 9/10
This is the biggest reason why deposits should be enforced. Clinics around the country require deposits to secure appointments, especially for popular treatments or during a busy week. This helps prevent any unnecessary cancellations that would set your clinic back.
2. Cover Costs
Don’t front an expensive product today just for your client to cancel tomorrow! Requiring deposits helps you cover the costs of your products and prescriber fees. If your clients decide to ghost you, at the very least, you didn’t put your own money into their products.
3. Add Value To Your Time
Being flexible with your time is helpful for your clients, but if the treatment date gets pushed back and forth between dates, it would affect your service to other clients and mess up your calendar. Bespoke aesthetic treatments require preparation ahead of time, and deposits serve as a reminder that time is gold!
4. Reduced Risk
I hate to break it to you, but some clients mug you out of your free consultations without any intention of booking in. Letting clients pay a deposit first before consultations would give you better cash flow. You can even try to be creative and rephrase the word “deposit” and make it a “consultation fee” instead!
5. Filter Inquiries & Leads
You can have 37 enquiries a week and only get 1-2 ready to book in. That’s a hard reality for practitioners. Deposits are a great way to filter out those who are committed and just passing by.
6. Eliminate or Reduce Late Cancellation & No-Shows
Deposits can sometimes make clients scared, and that’s for a reason! Hearing the word “deposit” would encourage them to stand by the day and time you’ve agreed with your clients. Make them fall in line and see the money rolling in, which brings us to the last reason.
7. Better Cash Flow
A positive stream of cash through deposits will help your clinic in the long run. You would have enough money to buy products, pay for staff time, and get enough sleep since you’re not chasing clients left and right!
Take a step back, and let’s think about it.
We know that charging deposits is a huge move for you. But if you’re ready for the next step, Faces has you covered. We’ve integrated booking confirmations and deposits into one flow. Clients can get their bookings confirmed after they’ve paid a deposit to the account you’ve connected on Faces. In this way, we’re preventing you from experiencing no-shows, loss of income, and wasted time!
Let’s normalise deposits moving forward, and let’s end 2024 with more money and time for your clinic.
Do you need assistance in setting up your Faces account? Message us here!