8If you run a child care facility, you know that margins can be very tight. Between pressure on family budgets and the rising costs of child care equipment, premises and insurance, many child care providers are struggling to make a profit. One business management tip that can help to increase your profit margins is to make the process of collecting payments as easy and hassle-free as possible.
Direct Debit Payments for Child Care
Direct debit is the obvious solution for a child care provider that needs to take recurring payments from parents. When child care payments arrive automatically, you can be sure your business will always have the cash flow it needs. Direct debit is also a good option for parents, as it takes the hassle out of paying their child care bills. Automated payments allow care providers and parents to focus on what really matters — the welfare and well being of the children. Rather than chasing up and arguing over penalties for late payment.
How to Automate Child Care Payments in Your Business
To set up direct debit payments with your clients, you’ll need a reliable payment solution that can accept this form of payment, such as IntegraPay. You then need to train your staff to let parents know they have the option of paying via direct debit. Provide your staff members with fact sheets about direct debit. Your staff can pass this on to parents or use to answer any questions parents might have. It’s a good idea to choose a payment solution that makes setting up direct debits as easy as possible. This is so your staff can guide the parents through the process without any problems and answer any questions.
Encouraging Parents to Automate Their Child Care Payments
The more parents you can persuade to pay via direct debit, the lower your administrative burden will be. When talking to parents about direct debit as a payment option, emphasize the benefits for them. Benefits such as a predictable payment schedule, no need to remember to pay bills manually, and reduces the chance of incurring late fees as a result of forgetting to pay. When parents understand the benefits of direct debit, they are likely to embrace this method of payment.