If you have a new family who doesn’t comply to the kind of payment method you specified, would you not take this student?
I would rather not. I have lost students over this but if they are unwilling to accept your policies, things tend to be challenging over other things later (like practicing, being on time, etc). Having said that, it does depend on what they don’t agree with. I have recently instated term payments and I have students who just cannot afford to pay that amount up front, so I have them on a different payment schedule.
Do you offer several ways for families to pay fees? I offer cash or bank transfer for payments in advance by the term, and if they want to pay by installments they have to fill out a form for a company I use who deducts that money from their bank account or credit card and deposits to me. They charge a small fee that I pass on to the client. If any payment fails, they notify me and I never have to chase money. It works well. I probably wouldn’t take the client if they couldn’t work with my requirements.
It has always been a hassle for me with only one exception. I’m totally moving into a streamlined form of payment only.
I streamlined several years ago and will only accept automatic payments that I don’t have to wait for them to initiate. It depends on the size of your studio and what you are willing to tolerate. For me, it is totally worth the extra cost to have my payments done and dusted in about 15 seconds every month.
No exceptions on this one. I wouldn’t take a student if they refuse auto payment.