Invoices vs. Automated Recurring Payments For Marinas
The boating industry boomed in 2021 as people were looking for new, exciting things to do outdoors with their families. New boats sales hit an all time, 13 year high in 2021. New, younger boaters and families are ushering in an exciting new era for our industry. For instance, many marina managers are starting to mirror a tried-and-true practice of hotel management, allowing for day use or short term rentals, charging deposits and fees online.
However, at the same time, many marina managers are hesitant to ask their customers to keep a credit card on file, because they worry about adopting any methods that may make them appear like landlords. This is why the topic of billing systems, while seemingly mundane, is both crucial and deceptively difficult for marina managers. In fact, as you read this, there are probably a few marina managers going back and forth about the best way to invoice their boaters and the best features or platform to get the job done. The debate is ongoing in multiple industries, which is all the more reason to ask some tough questions and delve into the details of different invoicing methods.
Consider this: A first-time boater visits your marina for a weekend. They have a terrific experience, and they decide to make regular trips to your community: say, three or four times a year. What type of bill do you use for this boater: an invoice, or recurring automated payment? What about the frequent boater who decides to become an even more frequent boater and spend the whole summer at your marina? What’s the best billing option for them?
Let us help you answer those questions.
When should you use invoices vs. automated recurring payments?
Invoices have an understandable reputation as the go-to ad-hoc bill. And indeed, when you have one-off expenses you do not expect to repeat, an invoice is more than likely your best bet.
But invoices can be used for recurring guests, too.
In the example above, invoices likely make the most sense for that repeat guest – the one who decides to spend a couple of weeks here and there at your marina.
Further, when appropriate, you can pair invoices and automated recurring payments to optimize the billing process for you and your boaters. This might make the most sense when, for example, electricity charges arrive after the invoice for your boater’s rent is due. In that case, you might want to use an invoice for rent and an automated recurring payment for utility charges. As you see, it’s not always an either-or proposition. That said, automated recurring payments still make the most sense as the default in some scenarios.
For instance, if you have a stable crop of boaters who spend extended periods of time at your marina, some even to the point that it’s essentially a home or second home, automated recurring payments will likely be your best billing option.
Now that we’ve gotten that out of the way, you’re probably still wondering about ways to make your life as a marina manager even simpler. Bonfire offers multiple tools, like invoice and recurring payment options explained in this blog. We also offer a simple to setup and use POS system which can seamlessly integrate your store sales, inventory, and other marina services. This is a powerful tool that complements our slip management system.
And, we’ve even created a video that walks through the POS system so you can see how simple it is to use. Like this blog, our goal is to show you exciting and novel ways to optimize your marina management. Take a look.
As you can see in the video above, one of the greatest powers of management platforms like Bonfire is that you have options. Just as importantly, you can still give your boaters the high-touch experience they’ve come to expect and appreciate.
These billing features are attuned to both the changing demographics of boaters and the demands of your day-to-day. As more and more boaters get used to spending money with a tap of their phone or a few clicks on an app, you can meet boaters where they’re at. And few things are more important than that.
If you want to know more about Bonfire's easy-to-use, all-in-one marina management, and reservation software, please reach out to us at howdy@letsbonfire.com.
