As a salon owner, obviously, you’ll want to get paid for your services.
Make it easy for your customers and be successful!
Salon Owner Start-Up – Step #3: Accept Credit Cards!
Your next step is to choose a merchant account so you can accept credit cards at your salon.
You could be on a “cash only” basis, but… you will most likely lose business or take risks with personal checks. Before you choose your provider, you have a few things to consider.
Credit card processing companies have several charges that will apply. Find out the following:
1. Monthly fee – this cost varies among providers
2. Interchange rate – the percentage the bank takes for processing transactions. This can run at 2.25% or more
3. Per transaction fee – generally anywhere from 5-25 cents per transaction
4. Length of contract and breakage fees – how much it would cost if you no longer wanted to use them as your provider.
Traditional systems have an equipment cost and require a landline. Purchasing a terminal will cost about $300 to $400. You could rent the equipment, but you will end up paying a lot more than if you just bought it outright.
Another option that does not require a landline is mobile payment processing. In this case, you would get a download to your mobile phone. This option is convenient but usually more expensive per transaction and has higher monthly fees than traditional terminal processing.
The bank where you have your business account is the best place for you to start your search. Find out their fees. Your bank can be the easiest place to set up your merchant credit card, but also more expensive than other options.
The decision of who to choose for a merchant account for your salon is an important one – take the time to weigh your options.
Salon Plaza Studio removes the barriers for you to get started as a salon owner and be successful. BUT… when you own your own salon, there’s lots more to think about. If you had the keys to your own salon in your hand, would you sink or swim?
Are YOU ready to be successful as a salon owner? Take our Salon Owner’s Success Quiz and find out if you have the skills of America’s highly successful salon owners.
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