It’s often said that cash is king when it comes to managing a swim school, gymnastics gym or dance studio. I mean, who doesn’t like cash, right?
Whether you’re just starting out or you’ve been in the business for years, enforcing your tuition policy to ensure revenue, or the cash coming into your program, is essential to the survival of your business. But how do you enforce your tuition policy when families are seldom in your facility?
Easy. Through ePayments.
What are ePayments?
Electronic payments, or ePayments are payments for services or products that can be made online. Much like a majority of the holiday shopping you completed on Amazon or your monthly utility bills- ePayments are everywhere and include credit card and bank draft options.
How can ePayments help enforce your tuition policy?
Let’s just come right out and say it- ePayments are easy. And if you’re wondering who ePayments are easiest for, the answer is your customers. Offering electronic payments to families at your gym, swim school or studio can be a huge time-saver and convenience factor for customers. Who doesn’t like that?
In today’s digital-first world, customers expect to be able to interact with your business electronically. Through ePayments, your program can meet paying customers where they already are- online.
Enforcing your tuition policy by hunting down late tuition payments has never been easy. And with the challenges of not being able to see customers face-to-face in your lobby, tracking down tuition is now down-right difficult. Electronic payments gives you the edge to offer a safe and contactless experience when accepting monthly tuition payments.
Convenience and a contactless experience are a powerful duo when it comes to enforcing your tuition policy to ensure revenue.
4 benefits of using ePayments with Jackrabbit Class
At Jackrabbit, we’re all about sharing with you ways to use class management software to make your life easier. When it comes to enforcing your tuition policy to ensure revenue or collecting any kind of money, ePayments with Jackrabbit is a no-brainer for three reasons.
You can collect payment information during the registration process
A customer is never more engaged with your program than when registering a student for an upcoming session or when they are logged on to your Parent Portal.
ePayments with Jackrabbit allows you to collect payment information during the registration process. Families can also update their billing information and make tuition payments through the Parent Portal. Plus family accounts can have a card on file if you need to process a batch of payments for your tuition. Hello, convenience!
You can create custom ePayment schedules for customers
Do some of your customers prefer to pay on the 1st of the month vs the 15th?
How about paying the full session’s tuition at once?
Any customers prefer to have the ability to pay with auto-pay or not?
Of course they do, customers have preferences and they expect your youth activity center to be able to accommodate them. That’s why another benefit of using ePayments with Jackrabbit is the ability to using ePayment schedules. Setting schedules allows you to make fewer mistakes while billing through automated processes and gives you more insight into revenue forecasting and reporting. (–> Learn how to set-up ePayment schedules in Jackrabbit now)
Our integration with two ePayment providers gives you more flexibility
ePayments with Jackrabbit class is a no-brainer when trying to enforce your tuition policy to ensure revenue. Our integration with two partners allows you the flexibility to choose which epay provider you want to partner with to collect money and post payments in one easy process. (–> Current clients can check out Jackrabbit’s ePayment Resources center)
In addition to giving you flexibility, other perks of our our partner integration are:
- payments can be automatically posed to family accounts when tuition is collected,
- whether you have 200 or 2,000 students, you can process payments for all of the families at your facility at once,
- both partners offer meet or beat pricing so you can rest assured that you are receiving the best legitimate rate for your program.
ePayments equals time savings
Let’s face it. When it comes to getting time back in our day, the more the better. So imagine how many admin and staff hours you can save by implementing an ePayment strategy at your swim school, gymnastics gym or dance studio?
Through Jackrabbit, you’re able to save time communicating with families regarding payments by sending automated email receipts when a payment was made successfully or declined. Additionally, you can avoid the time-suck of correcting inaccurate data by collecting payment information from the family during registration.