If you’re considering opening your own martial arts dojo or you’re wondering how to make your current school more successful, there’s a wealth of resources available on the Internet or in courses or downloadable books. And consistently you’ll see fee collection appear as a critical success factor.
You can have incredible teachers and programs, great facilities and the perfect location, but it doesn’t mean much unless your students are paying their fees on time. Cash flow is essential to the success of any business, including martial arts, and you need regular injections of it to cover costs, keep your staff employed and to enable you to make plans for the future.
What the experts say….
“Collect what’s due. The ability to say ‘Oh, pay me later’ or go ahead and ‘Pay me when you can’ needs to be eliminated from your vocabulary. Once you have set a price then collect what’s owed to you. Have good collection or billing systems in place so you get paid for your services you are providing.” Source: Fighting Arts
“…the profitable part of the equation won’t happen unless you’re able to bring in paying students. The keyword is paying. Unfortunately, if you survey martial arts school owners they’ll often tell you that collecting monies owed is not nearly as easy as you’d think it might be. In fact, dealing with non-paying customers they interact with on a regular basis is one of the least comfortable things they do.” Source: About Sports
What’s the solution for martial arts dojos?
The martial arts sector represents PaySmart’s fastest growing client base and we’re the billing company of choice for more than 1,000 businesses representing close to 30,000 martial arts students across the country. We continue to help leading dojos put the right direct debit systems in place to manage their growth sustainably, helping them transform from cash-only, to thriving subscription-based business models.
PaySmart works across the spectrum of martial arts businesses, from small studios to large franchises and we’re skilled at helping you get the right system in place and training you and your staff to ensure the transition to PaySmart is seamless.
Plus, PaySmart direct debit billing is a win for you and your students who won’t have to find the money to pay their fees in a lump sum at the beginning of the term, but can pay them off over time. It will also ease the pressure on your accounts and admin team as they’ll no longer have to manually enter or double enter data or chase payments—music to any business owner’s ears!!
PaySmart works with leading martial arts schools around Australia—here’s what a couple of them say about our direct debit billing systems and services:
“Dominance Mixed Martial Arts has been operating for more than 10 years during which time PaySmart has been an integral part of our growth. PaySmart saves us the time and headaches associated with collecting student payments. The online functionality, Web Express, is so concise and easy to use allowing us to manage all the students’ accounts with a few clicks. Our ability to manage our bottom line, see the growth of our academy in financial terms, as well as see projected payments for future billings has made PaySmart an essential part of our business. To run a martial arts academy as a business, a direct debit company is essential. PaySmart is the ONLY direct debit company we trust to do this.”
— Dave Hart – Dominance Mixed Martial Arts
“When you work with PaySmart, you know you’re working the leader in the field, backed by the customer service and product innovation that goes along with that position. As well as running Shobukan Martial Arts Schools, I also operate an accounting business, so I know businesses need cash flow certainty, they need reporting tools and when they receive their income on a regular basis—whether weekly fortnightly or monthly—they need an effective collection process. PaySmart has provided all of these things for my business, and I continue to recommend them to my accounting clients.”
—Dion Panossian, Director, Shobukan Martial Arts &
CPA, H S Panossian & Associates Pty Ltd
To find out more about how PaySmart can help your martial arts school get on the front foot with cash flow and debt recovery, contact PaySmart today.