Managing a Clubs income
Rather than charging a simple class fee for those that turn up, It is a normal practice for clubs to collect in advance using annual, quaterly or monthly subscriptions. There are tried and trusted methods you can adopt to get payments in from club members, increase the amount of money your club has and reduce the administration time required.
Be strict on the rules
If a club member attends classes and doesn't pay, it ultimately means that you are covering their costs personally. To avoid this happening, it is better to set out payment rules on enrolment to the club and be strict to reinforce them; "if you don’t pay, you can’t play". It will benefit the club in the long run. Once you allow members to pay when they like, other members will expect the same leeway and it becomes harder to be taken seriously and collect due in time.
Discounts & Incentives
Work out what people can afford and consider incentives for paying in advance. You could offer discounts for juniors, academic students, senior citizens and those who are unemployed. Different products can be set-up to suit your customers. While receiving the entire subscription from each member at the start of the year is great for your club’s cash flow it will be more convenient for your members to make monthly payments.
Avoid cash payments
Although it might seem convenient, collecting any kind of subs in cash means extra admin to record who has paid, confirming who collected the money, where the cash is and chasing up when people haven’t paid. It also means that there is less control on what happens to the money (how do you know you've got it all?) and it’s a lot harder to track.
Payment via Bank transfer or Standing order
Bank transfer is a better method to receive payment than cash. Members can be provided with the club’s bank account details to make an electronic transfer. There is of course a bit of work on the members part to set up a transfer for their club payments however tracking of payments is easier. This will, however, involve someone monitoring the account and identifying which users have or haven’t paid manually.
Automating Payment Collection
SUBSNINJA allows clubs to collect subs from members automatically and serurely every month using their debit or credit card. This allows members to make monthly payments rather than paying in one lump sum. It also gives the club the ability to increase the monthly payment or change the collection date when and as necessary. SUBSNINJA provides additional benefits such as easy monitoring of who has and hasn’t paid, automatic confirmation email to members on enrolment, automatic emails to members if late payments are due. SUBSNINJA is fully PCI and GDPR compliant ensuring your club transactions are protected as well as the privacy rights of your members.
There is a cost to using any online software service, however the cost of using subsninja.com is low, and the advantages of automating payment collection as well as reducting your administration overhead makes it a worthwhile investment.