The $100 MBA Show MBA1566 Should You Charge a Set Up Fee?
Should onboarding cost the customer money? Can “set-up” fees backfire?
Once you’ve made the sale, is it smart to immediately tack on an extra charge just to get someone up and running?
It depends.
Today, we’ll discuss why businesses charge these initial, one-time set-up fees. By understanding why companies do it — and how it can protect their own balance sheet — you can make a better decision about your own policy.
Set-up fees have their advantages, and they can’t be ignored. Depending on the type of business, it’s not just some arbitrary way to increase revenue. It can be a valuable, even necessary way to ensure the customer gets what they paid for.
Tune in, and hear some examples of set-up fees that make sense for all parties involved. Understand the relationship between the value of getting set up, and what charge for the time and effort it costs your business. Click Play!
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