Hairdresser cuts bank fees and saves $66K p.a.
Taking a bit off the back-and-sides can make all the difference when it comes to bank fees.
Just ask Bous for Men, a successful chain of hair salons with 11 thriving establishments. When they switched to Zero Cost EFTPOS from Smartpay, the impact was immediate.
It saved the business an impressive $66,000 a year.
Success leads to a better solution
The trigger moment came when the business was looking to expand, says owner Simon.
“We are growing and about to open another two salons, taking us to 13. I was concerned about the costs. My bank fees were just adding up, about $500 per month per store.
“I needed a better solution, and that’s when a friend told me they used Smartpay. So, I researched them and another provider.”
“I really liked the simplicity of Zero Cost EFTPOS and how fees were automatically calculated.”
Testing surcharges with customers
While the move to surcharging was tempting from a financial point of view, Simon wanted to reassure himself that his loyal customers would accept the change.
“I decided to switch just one salon to start,” says Simon.
“99% of the customers were happy to pay.”
“I put a sign up to advise our customers there was a fee and found that 99% of customers were happy to pay. I think they just like using their card and getting points. We provide a great service and are competitively priced. We just couldn’t absorb those fees anymore.”
Smooth set up for non-techies
After the successful trial, Simon says it was a no-brainer, and he moved quickly to roll out Zero Cost EFTPOS in all the salons.
“I was delighted how seamless the setup process was.”
“I’m not the most tech-savvy of people, and I was delighted how seamless the setup process was. Switching the merchant facility from my bank was straight forward.”
“The surcharge is calculated automatically, so we just enter the purchase amount, and it’s done. Our staff love the simplicity of the automatic calculations. It’s just tap-and-go.”
“Our staff love the simplicity of the automatic calculations. It’s just tap-and-go.”
One good service deserves another
With savings of over $66,000 a year – soon to be $78,000 when the two newest salons open – Simon is reinvesting in the business.
“We use the savings to invest in more staff. We are providing an even better service to our customers. It’s a win-win for everyone.
“I mention Smartpay whenever I can. It’s working for us,” says Simon.
“I think six businesses I have spoken to have changed to Smartpay as a result.”
Want to know more about surcharging?
If you’re keen to learn more about how surcharging on EFTPOS works, or what you could save, find out more about Zero Cost EFTPOS. To talk about how surcharging could work for your business, get in touch with the team at Smartpay.