Using pet business software is an excellent way to run a flexible business efficiently.
The ability to be flexible with payment options allows you to provide your customers with the convenience of variety while still maintaining a steady cash flow. The trick is being flexible enough that your customers feel like they have options, but not so flexible that you end up having so many loose ends at the end of the day that you can’t keep track of them all.
This is why ProPet’s deposit option is such a timesaver.
How Deposits Work
By utilizing ProPet’s deposits option, you allow your customers to make a partial payment toward a service once the booking confirmation for that service has been confirmed.
The deposit is paid for by the customer via the customer portal, using whichever credit card the customer has consented to store on file.
You can choose the required deposit amount your customers will need to pay via the Admin portal. Ensuring you’re collecting a consistent percentage of, or specific dollar amount toward, your provided service.
Why Use Deposits?
Deposits are an excellent way to even out your cash flow, especially if you earn most of your money on a seasonal basis.
If you accept deposits in February for training session booked in June, you effectively receive a cash advance months before the service is actually rendered.
Also, if you offer pet services at a high price point, then utilizing deposits can make your services accessible to a larger part of the population, including people at lower income levels.
Not everyone has a high credit card limit or the cash on hand to pay several hundred dollars for high-end boarding or training. But, by allowing your customers to make a partial payment, you turn a seemingly large transaction into two medium-sized transactions. This not only reduces the “sticker shock” of your pricing but it also grants your clients some more time to save in order to pay off the remainder of their purchase.
Using deposits broadens your client base and allows you to offer your services to a larger percentage of your local population, effectively boosting your revenue without decreasing your pricing. Who would say no to more customers?
Setting Up Your Deposits
If you are using one of ProPet’s integrated payment providers, then you will be able to set up deposits.
First, you’ll need to go into general settings and allow customers to make payments for booked services in the customer portal. To do this simply log in to the admin portal, click Settings > General Settings. Then scroll down, and next to “Allow customers to pay online for booked reservations,” click “Yes.”
Once that’s completed you will be able to activate deposits.
Deposits are activated in the Settings tab, from the General Settings panel. Simply scroll to the bottom of General Settings, then where it says “Select minimum payment amount” you’ll be able to choose your preferred option.
There are four options to choose from:
- Full Amount of Balance Owing
- Any Amount
- Fixed Amount
- Fixed Percentage
After you select your preferred option be sure to click “save” at the bottom of the screen, and you’re all set. Your customers will now have the option of paying in full or in part based on the parameters you have chosen.