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Jacobs & Newmark, CPAs
100 Lexington Drive, Suite 250, Buffalo Grove, IL 60089
Phone: 847-537-0100
September 2024
September 2024 Client Profile
Marcus is a self-employed personal trainer at a local gym. Like other service providers who operate on an appointment schedule, he’s noticed increased no-shows and is considering implementing a no-show fee. His research on the effectiveness and potential client resistance to these fees provided helpful information.
Over a recent three-year period, a Square survey found an 11% increase in the percentage of beauty professionals charging patrons for missing appointments. Similarly, a Resy survey reported that from 2019 to 2024, restaurants charging cancellation fees more than quadrupled. People have also become used to paying fees for missing medical appointments.
Marcus also found ways other personal service providers mitigate client ire. Many give a warning only for the first missed appointment, but after missing two appointments without notice, charge a fee to rebook. Others waive fees in cases of emergency. This policy works best if it defines what constitutes an emergency.
Marcus decides he can institute a no-show charge policy without risking business loss.
Source: WSJ, 2024
Client Profile is based on a hypothetical situation. The solutions discussed may or may not be appropriate for you.
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