As times have changed, and more and more things are done electronically, the way we get paid is also changing. For those of us in the beauty industry, especially bridal hair and makeup artists, changing how we accept payments has been a must in our industry.  If you’re not at the point of accepting electronic payments yet, you’re probably struggling to get payments in – waiting for checks or cash. 

One platform that has become very popular for accepting payments is Venmo. Venmo offers two different types of accounts – either personal, or business. While the personal account is fee free, if you are going to be accepting payments for your business, you should have a business account. 

Convenience is a luxury 

Convenience is a luxury and accepting Venmo payments offers your clients additional luxury. You are giving them the opportunity to pay conveniently. It gives your bride the feeling of flexibility, which in turn will upgrade her experience with you. 

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Episode 27 – Why take Venmo Payments?

Lower transaction fees

Venmo is also cheaper than many other platforms. The transaction fee for Venmo is 1.9% per transaction. While you may not be used to paying transaction fees, they are tax deductible to your business.  

Options for tips

You can still accept tips. Venmo offers tip preset options that you can change to fit your needs. You can accept tips along with your regular payment.  

Free marketing

You get a free QR kit for your business, and an option to list your business on their platform. This gives you some free marketing and allows you to accept payments with your QR code in studio, or on location. 

Easier Taxes

Venmo will send you a 1099 for payments you collected, making your taxes much easier to do. 

And remember, there are certain fail safes built into the platform. Make sure you are using a business account to accept your payments – if you receive several payments throughout the month in large amounts, Venmo will red flag you. You also want to make sure that as a business provider, you are above board in reporting your income and using integrity in all aspects of your business. 

What's Next?

Grab your copy of The Ultimate Pricing Guide For Bridal Artists today and start seeing higher profits in your bridal beauty business.  Includes everything you need to work less and still make more by filling your calendar with Dream Brides ready to pay your rates.