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Automated BillingMoonClerkQuestion of the DayQuickbooksRecurring RevenueStripe

Question of the Day: What tool(s) do you use to automate recurring billing?7578

WGAN Forum
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WGAN-TV Podcast
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Atlanta, Georgia
DanSmigrod private msg quote post Address this user
Hi All,

The WGAN Forum Question of the Day:

What tool(s) do you use to automate recurring billing?

I will start it off. We Get Around Atlanta uses MoonClerk and Stripe.

Tip: find opportunities to charge monthly recurring revenue such as:

✓ retail stores
✓ restaurants
✓ boutique hotels
✓ vacation rentals
✓ event spaces

You can charge less up front (to make it an easier decision) and then an amount each month to "rent" the Matterport 3D Tour.

For example, we charged a client $249 + $4.99 monthly starting on 2 September 2016. The Client had us do another shoot for $249 + $4.99 on 8 November 2016. We automatically receive $9.98 monthly (less MoonClerk and Stripe fees). That's recurring revenue of $240. That's a total of $738 (1x shoot fees and monthly recurring revenue). If we had asked for $738 upfront, we would never have received that for these two small spaces. By making the shoot affordable on the front end and then collecting a small amount monthly, we have recurring rental income.

And, it's likely that the Client will ask us shortly for a refresh of one of the two spaces that is being renovated at $249 (and perhaps additional spaces).

Each job was just one 360º photo sphere shot with a 1-click 360 Camera.

Best,

Dan
Post 1 IP   flag post
CFster private msg quote post Address this user
I use Square, which offers recurring billing.
Post 2 IP   flag post
Nerdvice451 private msg quote post Address this user
We have used 17 Hats for everything since we started.... It literally does everything for us. We could not do our business now without it. Check it out! Now we do have a Stripe account for our online payments but we would rather have checks because of the fees associated with using Stripe.
Post 3 IP   flag post
WGAN Forum
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WGAN-TV Podcast
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Atlanta, Georgia
DanSmigrod private msg quote post Address this user
Seemed like a good time to revisit this Question of the Day. Dan
Post 4 IP   flag post
WGAN Forum
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WGAN-TV Podcast
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Atlanta, Georgia
DanSmigrod private msg quote post Address this user



Screen grabs courtesy of PaySimple

Hi All,

Anyone using PaySimple.com for recurring billing?

(A vendor in an unrelated space just used PaySimple to send me my credit card receipt.)

Dan
Post 5 IP   flag post
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Club Member
Queensland, Australia
Wingman private msg quote post Address this user
Sorry Dan I do not get the story in your first post. How it becomes $738?

It seems to be it is $498 upfront and about $10 monthly. It makes about $618 for the first year.

I really do not see a big difference apart from delaying to receive your money. If they were ready to pay $500 why wouldn't they pay $738?

So far I keep all my paying a hosting fee clients in my head and track their dates by their invoices.

The good thing they are paying for a year in advance so it is not much work for me. I probably need to move to excel just to make it easier to track. However there are not so many now and thanks for mentioning square for my future needs with it.

I can also get it done through my online accounting(QuickBooks) but I still want to be able to process payments on the go so Square is the best option. Even thought about buying they payment device but it was out of stock in the closest place near me.

Please do not consider Paypal for that. I am with them for another business for more than 10 years. They are a big pain in [the tush] and the biggest bunch of trouble makers for any business I have ever seen.
Post 6 IP   flag post
GFHoge private msg quote post Address this user
Dan,

Thanks for revisiting this topic.
Did I understand you correctly that you charge $249 for one 360 shot of a business? How do you market it to a downtown, retail, or other area? Reminds me of the placemats you would find with businesses on a map in the town you are visiting.
What digital platform are you using to "map" the community?

Thanks for always thinking ahead.
Geof
Post 7 IP   flag post
WGAN Forum
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WGAN-TV Podcast
Host
Atlanta, Georgia
DanSmigrod private msg quote post Address this user
Quote:
Originally Posted by GFHoge
Did I understand you correctly that you charge $249 for one 360 shot of a business?


Yes. Quote:
Originally Posted by DanSmigrod
For example, we charged a client $249 $4.99 monthly starting on 2 September 2016.


Keep in mind that was 2016. I do not do a lot of paid gigs. And, I am always willing to walk away from gigs that are not $$$$$. So, we've not likely the best example to model pricing after.

Quote:
Originally Posted by GFHoge
Reminds me of the placemats you would find with businesses on a map in the town you are visiting.


WGAN-TV | A Marketing Plan for a Vacation Destination (Matterport + ThreeSixty Tours) | How to Make Your Competition Irrelevant (and a Contributor to Your Success)

WGAN Standard and Premium Members (like you) get the free use of ThreeSixty Tours (a great solution for a map of a town), as discussed at length in the course above.



Screen Grab: ThreeSixty Tour created by @Bycha.

Dan



Post 8 IP   flag post
WGAN Forum
Founder &
WGAN-TV Podcast
Host
Atlanta, Georgia
DanSmigrod private msg quote post Address this user
Quote:
Originally Posted by Wingman
Sorry Dan I do not get the story in your first post. How it becomes $738?

It seems to be it is $498 upfront and about $10 monthly. It makes about $618 for the first year.

I really do not see a big difference apart from delaying to receive your money. If they were ready to pay $500 why wouldn't they pay $738?


Quote:
Originally Posted by DanSmigrod
For example, we charged a client $249 $4.99 monthly starting on 2 September 2016. The Client had us do another shoot for $249 $4.99 on 8 November 2016. We automatically receive $9.98 monthly (less MoonClerk and Stripe fees). That's recurring revenue of $240. That's a total of $738 (1x shoot fees and monthly recurring revenue). If we had asked for $738 upfront, we would never have received that for these two small spaces. By making the shoot affordable on the front end and then collecting a small amount monthly, we have recurring rental income.


The points are:

✓ charge a smaller up front shoot fee
✓ charge a monthly recurring amount
✓ look for "break-even" at 1.5 to 2.5 years [break-even = what you would have charged a 1x fee without hosting]

In the long run, you should make more money than if you charged a 1x upfront shoot fee. We have businesses that have been paying us a small amount of money for years. Since we pay hosting, we need to charge for hosting and we do that at a profit.

Does that help?

Dan
Post 9 IP   flag post
GFHoge private msg quote post Address this user
Dan,
Thank you again! It is good to see new posts of old subjects because your site is so rich with information, we don't always get it right away and new members get a reminder that it is there.
Best $$ spent is your site with benefits I haven't used up yet!
Geof
Post 10 IP   flag post
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