Running a tuition center is often a thing of passion for its owners. So, it is easy to get caught up in the frenzy of running your passion business while neglecting seemingly little things that can skyrocket your running cost and prey on your profit margin. It is also known that online class booking and scheduling software can be very costly. To block a leakage, you must first identify the leaking spot. We will be showing you a few of the hidden leakage spots you should patch up in order to have a successful tuition center business.
Avoidable Operational Costs
Managing daily operations at your center might have you hire a couple of hands to help you manage the daunting tasks. The more automated your center operations are, the less hands you will require. An online class booking and scheduling software is not a luxury but a necessity. For example, a dance studio being run manually will require someone to receive calls and take bookings, also probably a couple of hands to issue and track invoices. You will not only hire these extra hands one off but will also care for their training and welfare while they work for you. Meanwhile, these are all administrative tasks that can be taken care of efficiently by a booking and class management system, saving you a ton on man-power cost.
Payment Processing Fees
Among the many decisions you will have to make while setting up your center is how to receive students’ payments. This is a critical decision. Smart center owners often want to ensure customers experience a frictionless payment process, which includes not passing the payments of processing fees to them. That is, when customers are to pay $100, they are being charged $100 and not $103. Having online class booking and scheduling software allows you to perform contactless payment.
Minimizing Payment Processing Fees
Now, since the center takes the responsibility for the processing fees to keep your customers happy, it is your responsibility as the center owner to keep that cost as low as it can get. This means you are saddled with the responsibility of choosing a payment processor that charges less and fulfills your business needs.
Comparing Payment Gateways
Online payment gateways offer only credit card integration with a transaction fee of between 2-3% but some booking systems can offer far less. For example, O class online class booking and scheduling software uses an integrated payment processing system with transaction fees as low as 0.65%.
Multiple Costs Incurred from Business Tools
A lot of tuition centers are automating their processes and taking their business online. For those that haven’t, they are most likely thinking of how to do so. However, many tuition center owners quickly make the mistake of acquiring multiple business tools to take care of different business processes and center activities. Instead, they could go for all-in-one solutions with online class booking and scheduling software features and save themselves unnecessary spending.
The Pitfalls of Using Multiple Tools
A common mistake is using online payment gateways to collect payment, then another tool to track invoicing payments of students. All these and more will be taken care of by an all-in-one online class booking and scheduling software. This tool is integrated with not only a payment and booking engine but also a front desk feature that lets you monitor students’ attendance, track invoices, as well as monitor your expenses. All for a price of one.
