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Why Do it Yourself Billing is More Expensive

To illustrate, let’s use 10% of total fees as an easy figure on the high end for tuition billing. If you could collect $10,000 without using the billing company, but the billing company could collect the same $10,000, no more and no less, you might think you have a $1,000 discrepancy. The truth is that there are many expenses involved in DIY (Do It Yourself) billing. Your own time, energy, and significant expenses associated with the bill collection game are quickly eating up that $1,000 gap. Here are some of the material and material expenses DIY will cost you:

1. Software to track students (including annual updates).

2. Postage charges for late notices.

3. Time to manage cards, send overdue notices, call overdue students, check payment histories, etc.

4. The loss of standing with your students when you wear a sage instructor hat and another bill collector hat.

5. The loss of students. A good billing company will help you retain students by providing improved customer service and having a stronger contractual relationship with the student.

6. The reduction in actual collections because students aren’t as concerned about stiffening you compared to a big billing company.

7. The reduction in actual collections because you are a green belt in collections, while the billing company is a seasoned black belt in charging students.

What does all this add up to? It varies by school, of course, but I wouldn’t be surprised if it was close enough to that 10% mark. I give stress a high spend value. The actual costs are in numbers three through five of the list above.

Playing bookkeeper isn’t what you’re good at, or how you make money. You will always earn more by managing others than by doing things yourself. A teacher feeds, guides and advises the students. A debt collector harasses people for money. These two roles do not go well together. Your image as a thoughtful, caring teacher can be ruined in an instant with just one phone call or letter from you regarding the missing money.

Finally, you might be a good black belt, but you’re not as scary as a financial institution when it comes to deciding who to pay. This is why large stores have their credit cards managed by outside companies. A good billing company will always collect more than you. They can be tougher than you and this keeps you in your community as a teacher and not a bill collector.

Even with the Martial Arts Teachers Association tuition at only $24.95 per month, I use a billing company to manage it. I’m a teacher by nature, and that’s where I want to focus my efforts. I focus on writing, editing, content creation, program development, marketing, and member retention. I like all these tasks. I don’t like bill collection.

You are not hiring a billing company to match your efforts. You hire them to exceed your efforts. It also allows you to focus on your core strength and responsibility as a school owner, which is to create and retain students.

I presented the famous “Mr. Miyagi”, Pat Morita, with an honorary black belt. He has a lot of respect for martial arts.

Over dinner, he regaled us with stories of his days as a stand-up comedian. It was called “The Hip Nip”.

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