For a seasonal business like tanning salons, the monthly draft or EFT is probably the most critical number to watch.
Why? Because when you are not in season, you have very few new customers walking through your doors. These customers are typically tanning for events; weddings, vacations and such. For a typical salon, generating enough revenue through walk-ins is tough no matter how great your salon does during season.
That’s when the importance of EFT revenue comes into play. If you build a solid foundation of active EFT members, many of them will continue their membership well past season. Even if they are not actively tanning, which many dont, you will continue to receive a good amount of revenue through your monthly draft and that makes a huge difference in being able to keep your salon afloat and profitable through the JASON months (July – November).
Some salon owners are intimated by the setup required to do EFT. With the right software (hint: Tan-Link), EFT is trivial. Its a fire-and-forget setup. As customers signup, Tan-Link automatically sets the correct dates, amounts, tan tax and the billing runs 100% handsfree. All you have to do is review the final report to see how much cash to expect in your bank account.