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

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

WGAN Forum
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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

4 years ago

275	275 CFster private msg quote post Address this user	plus 1 plus 1 plus 1 4
	I use Square, which offers recurring billing.
	6 years ago	Post 2 • IP flag post

74	74 Nerdvice451 private msg quote post Address this user	plus 1 plus 1 plus 1 2
	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.
	6 years ago	Post 3 • IP flag post

WGAN Fan Club Member 4.17K Website Queensland, Australia Matterport Service Partner Google Street View Trusted Photographer We Get Around Network Member	4.17K Wingman private msg quote post Address this user	plus 1 plus 1 plus 1 3
	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.
	4 years ago	Post 6 • IP flag post

162	162 GFHoge private msg quote post Address this user	plus 1 plus 1 plus 1 3
	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
	4 years ago	Post 7 • IP flag post

162	162 GFHoge private msg quote post Address this user	plus 1 plus 1 plus 1 0
	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
	4 years ago	Post 10 • IP flag post

WGAN Forum Founder & WGAN-TV Podcast Host 29.84K Website Atlanta, Georgia Linked In Facebook Twitter YouTube TikTok Instragram Matterport Service Partner Google Street View Trusted Photographer Zillow Certified Photographer We Get Around Network Member	29.84K DanSmigrod private msg quote post Address this user	plus 1 plus 1 plus 1 3
	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
	6 years ago	Post 1 • IP flag post

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