So visiting a farmers market, there was a farmer in his 80’s selling his local organic produce. Wonderful man, you know the type with the gentle eyes, rough hands and the lines on his face that dictate the years of graft in the field.
In amongst the corn and tomatoes, this 80yr old had an iPhone, connected to that was a chip and pin device. On payment, I was told the credit card has recognised your email so a receipt will be with shortly by email.
I love getting surprised!
This man certainly surprised me.
As I walk away with my purchases I question my own business. Costs have always been a significant factor into my non chip and pin use. After all most of mine pay online at no extra cost to me. BUT and this is the big BUT what if this alone was stopping you getting students, what if this was stopping people buying the extra bit of merchandise, the show costumes and so on.
Convenience is key these days and often I find myself saying, oh I will just pay it now and then I know it’s done. None of this go home and go online and pay - that is hassle. I mean it’s not really that much bother, but in the scheme of a credit card offer the table or a home computer on, log in blah blah… It’s hassle.
Ultimately you want the money in your hands and the quicker it is there the less time you need to spend chasing it. Time is money.
So taking into effect the time spent chasing the cash and cheques and paying them into the bank. Or the bills sent, reminders and reconciliation of the bank statement, receipts written and lost sales opportunities at the initial reception desk. Really and honestly chip and pin may actually save you money!
It’s worth doing an analysis on, after all if an 80yr old farmer selling corn can make it work, I am sure us dance school owners can too.
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