Understand how much your fees and surcharges subtract from your profits

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TABLE OF CONTENTS

• WHAT ARE FEES
• WHAT ARE SURCHARGES

WHAT ARE FEES

When running a salon, you’ve likely heard the term "fees" thrown around, but what does it really mean? Fees are essentially additional charges or costs that a business might apply to cover specific expenses or handle operational needs. They can be a small percentage but have a significant impact on your profits—or losses—if not managed properly.

Some common Fees that you may encounter in your salon include:

• Bank Fees
• Transaction Fees
• Online Deposit Fees
• Waste Disposal Fees

Generally, these fees are a percentage based fee with a small flat fee, such as 1.2% + 20c

WHAT ARE SURCHARGES

In simple terms, a surcharge is an extra fee added to a customer’s bill on top of the base price of a service. For salon owners, surcharges can be a smart way to cover additional expenses that pop up due to specific customer needs, seasonal costs, or any extra materials or labour that the service requires. Think of it as a way to adjust pricing to fit the real cost of delivering top-notch services, rather than absorbing those costs into already tight profit margins.

Some common examples of Surcharges that salon owners introduce into their salon include:

• Weekend Surcharge
• Late Night Surcharge
• Terminal Surcharge

To understand how Fees & Surcharges affect your services, get started by adding them into your Insightful Sums account