By Bernadette Wilson (DevPro Journal)
What sells your salon software? Your payment processor can make all the difference.
Efficiency in payment processing is everything; it influences inventory fluctuation, appointment frequency, gratuity amounts, and more. Ultimately your payment processing efficiency can make the difference in whether a client renews with you or walks away.
Rinse, Wash, ISV – The Truth about Salon Payment Solutions
As an ISV, you’ve heard it all from your salon merchant clients. Staff schedules, inventory management, appointment scheduling, and beyond. All vital to their success, but none more so than maintaining a healthy day-to-day cash flow.
Payment processing encompasses every aspect of this business. Stylists can be anchored to the salon and work out of their home or the homes of clients. They can demo skills and build their book of business from trade shows and are just as likely to fill openings with remote location custom bookings.
These stylists are also professionals, whose livelihoods are tied intimately to economic trends in personal spending. They can ill afford to lose a would-be sale, which proves critical that salons secure payment solutions that work flawlessly in every circumstance.
The Shear Truth About the Salon Industry
The salon industry is on the rise, opening up a massive market opportunity for salon software developers.
According to a 2017 market report, profits reached $44 billion dollars in the salon industry and are predicted to grow exponentially in the coming years. Research by the U.S. Bureau of Labor Statistics predicts that job growth for those in the personal appearance industry is expected to increase by 13 percent between 2016 and 2026. This is an above-average rate, attributed to projected population growth in the coming years.
Cut to the Chase with Efficient Payment Solutions
1. How is your software solution protecting your salon merchants' interests?
To earn and keep your share of the growing salon industry, you must first be able to answer this question regarding your active salon clientele. If you can’t answer that question right away, chances are it is probably time to check in with your clients before your software competitors do.
2. How can you protect and grow what you’ve built?
Any payment solution you’ve tailored for this sales vertical must go well beyond basic payment acceptance and service.
At minimum, you need to deliver full scale payment processing. To differentiate, you can offer time saving benefits including recurring payments for salon regulars, and account updating services to spare everyone the hassle of an expiration date decline.
At First American, we do it all. Don’t cut yourself short with your payment processor. Before choosing your payments processor, let First American show you how we can drive usage of your salon software.