Monitoring your membership payments and 5 things you need to remember

payments

Gym clean and tidy – check, changing room clean – Check, machines working – check, staff arrived – check… lets open the doors for another fun day at the Gym!

But you know as the gym manager that this is just the start of a long day managing the membership payments of your members.  From not enough contact or payment information, missing paper work, missed payments or unaccounted for money in your account.

Here are 5 things to look out for when managing your membership payments

  1.  At the time of joining ensure all the contact information is complete; make this a mandatory requirement for membership. The forms must be complete before they can use the gym.  Especially the payment details on the direct debit form, this is the only way you can keep a track of their payment. Missing digits, wrong codes or not filled out means you are not going to get any money. Your priority is to get unfinished paper work complete as soon as possible.  Follow-up over the phone or put a notice on their gate entry swipe.
  2. Set the membership payments to match the members pay cycle, weekly, fortnightly or monthly.  You are less likely to have a missed payment for lack of funds.
  3. As soon as you receive a failed payment, which can be for a variety of reason, if the direct debit provider does not have a follow-up process and re-payment system, you need to action it straight away. If they are paying weekly they will soon owe 2 weeks and so you need to have a system in place to follow up the payments.
  4. You have just received your payments and a report from your DD provider / bank which states which members have paid and which have not. You either have to import that information into your membership software and hope the reference numbers match so they sync in some way. Sometimes you will have to manually match payments with member’s records. This process may take a day or 2 after the payments are made they is always a day or two lag when your members are visiting and you don’t know if they have paid or not.
  5. You are 3 months into running your gym, you have a pile of incomplete membership forms of varying degrees, you have 2 weeks of failed payments but now you also have members that need to amend their arrangement with you. Change the payment date, change their payment frequency, bank account or contact details. You have members that paid a missed payment by credit card and one with cash.  One is disputing they have paid and a few that didn’t pay and have never been back.

You thought you had opened a gym to help people get fit when really you are running a finance company collecting people’s money. You need good manual systems if you don’t have integrated software or a billing company without customer service assistance. Membership payment should be your number one priority and investing in this area will make your business strong and your life easier.

Membership software that offers paperless joining, online sign-up functionality and integrated billing system all automated to make your day-to-day operation easier for you to concentrate on getting your members fit and enjoying your business. iconnect360 and Ezypay billing is one of the easiest and most cost effective gym management solutions to help you enjoy your business.