A booking deposit is an upfront payment to secure a date and time for a scheduled appointment. Late cancellations and no-shows can be crippling for salons, so deposits have become very common in the industry... here's a break down of why they are important...
A recent study revealed that the average brow stylist loses $300 per week (minimum) on no-shows/late cancellations.
Here's what you need to know -
There is a cost of the appointment time, no matter if your client shows or not. Having an experienced technician and wages to pay, whether the client shows up or not, is a given. The same goes for rent and other running costs like rent, power, product that you have on hand, insurance and so much more!
some brow stylists have children they put in school or daycare, or have other commitments that they put aside to dedicate to their craft. Having a day full of late cancellations or no-shows that could have been spent with family, is time you won't get back.
Clients are investing in quality artists
Brow artists put a lot of time and money into education to ensure they are giving you the best of the best. They would have purchased all the equipment, tools and supplies to have ready for you on your appointment.
Deposits cover the bare minimum
Booking deposits cover the minimum amount if you cancel in a time frame that doesn't allow another client the opportunity to book.
Just like if you made a hotel reservation, and cancelled the night before, the reservation cost will still be charged for the same reasons above.
Clients that are explained this will typically understand, it's not having deposits for the sake of it, there's a valid reason why.
What you can do to have a successful policy structure in your salon -
1. Ensure that all of the details are clearly laid out, on your website and in your appointment confirmations.
2. Have clear guidelines on how and when your client needs to contact you, to avoid a late cancelation.
3. Learn how to clearly communicate the policy - this one can be tough! we never want to take someones money for the sake of it, but being firm on your policy is a must.