Running a business is not a game. The Journal of Aesthetic Nursing has also listed several reasons why your aesthetic business could fail. Clinic owners and solo practitioners alike spend valuable time, effort, and focus in order to dish out excellent work for their clients. Every business wants to meet client expectations and offer the best experience for their clients. However, at the end of the day, practitioners want to get their hard-earned money back.
Though some would say they’re doing aesthetics for noble reasons or their passion, this still boils down to whether you’re making profits or not. But you might be restricting potential clients and profits by being stubborn about your choice of payments.
Let’s talk Payment Plans
“Are you offering payment plans or financing?” You might’ve heard this question from your clients before. We know some providers kill you with fees and interests when signing up and using their service. We also understand that it sometimes feels like a disservice rather than an advantage for your business. But have you considered your client’s perspective on this matter?
Not all aesthetic treatments are affordable. We have treatments like bum fillers or customised packages that will leave a gap in the client’s finances when they pay cash. How would you attract clients when you’re not giving them a choice?
Payment plan as an alternative
Another example to look at is how your business will feel about clients. Aesthetic treatment is a luxury, but to position it as something unattainable will turn off a lot of clients! Cash offers simplicity, while payment plans offer affordability even for the most lavish treatments.
“If they can’t afford the treatment, they shouldn’t have it.” That’s some tough love! We know you’re promoting responsible spending, but client reasons differ from each other. We have clients waiting for their paycheck, a person who doesn’t want to spend their own money, and someone who wants to spread their payments. Consider and establish a healthy relationship by offering payment plans.
Cash upfront—a turn-off?
Paying cash upfront may hinder your clinic’s cash flow too. Clients who want to use payment plans now will be forced to look at other clinics that offer the same treatment with flexible payment options. Instead of reaching back out to you after a couple of months, the risk of losing clients is far greater.
“The fees are just too expensive.” That’s the way people think of it for the first time. Those fees and startup costs at different finance companies are there for 3 key reasons. They take on the risk of your clients not paying in full; they do a soft credit check; and they’ll be the ones following up on your clients for late payments. They are also here to make money, and clinics just need to outsmart the system. Find a pharmacy that offers the same products at a cheaper price, or you have the option to increase your treatment price if you like.
“Stop pushing your narrative about it! ”We won’t.
The hard truth here is that in order for you to attain that “100k a year,” you need to make the right decision. Offering flexible solutions to your client’s problems will ensure that you’re a step closer to your financial goals. Especially if you’re offering high-end treatments and packages, payment plans are a great way to encourage clients to spend!
Amidst the confusion, there’s a solution.
With all these advantages and disadvantages presented, you might find it hard to make a choice. But what if Faces can help? Faces, with its partnered finance company, has the capacity to give you the power to take in cash payments or offer Buy Now, Pay Later. No start-up costs, takes a few minutes to apply, and seamlessly integrates with Faces’ booking system. Don’t make your clients lose hope in gaining their confidence. Sign up through Faces by clicking here, and let’s make your clients happy!