When running a martial arts school, bookkeeping is where many new owners tend to fail or learn their hardest of lessons. If done correctly, it can keep you from losing the momentum you gained from opening your martial arts academy. Here are some crucial tips to keep your bookkeeping on track.
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Understanding payment processing fees for martial arts schools, yoga studios and fitness gyms
Processing payment cards and bank debits is a common requirement for most membership based businesses, such as martial arts schools, fitness / MMA / cross-fit gyms and yoga studios. Being able to charge members on a regular schedule for memberships and create on-demand charges for selling products is how those businesses generate revenue.
Despite being so important for such businesses, payment processing is often one of the most misunderstood aspects of it, and particularly how payment processing fees are calculated.
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Why We Use Stripe For Payments
A story recently broke out about National Fitness Financial non-payment to gym owners. National Fitness is a gym management software, not unlike our own, but one big difference is that they handle billing and collections directly, as it would appear from the article.
I cannot comment on the exact situation at National Fitness as they haven’t released a formal response yet, however it brings up a point that we often discuss with our customers – how we handle billing on behalf of gyms using our system.
