fitDEGREE OVER MINDBODY?
It’s no secret to you that MINDBODY tops the charts when it comes to studio management software. It’s studio management software for Yoga, Pilates, CrossFit, Dance, Kickboxing, and even Salons. The functionality appeals to all sorts of niches, so you can understand how the software got so popular. In recent years, several competitors have popped up with the same abilities—schedules, registrations, securely process payments, and track key business metrics…. yet fitDEGREE is the smarter alternative.
Watch the video and check it out for yourself.
We believe in transparent processing fees.
Credit Card Rates
DISCOUNT FEE: 1.79%
Charged for every transaction settled within your merchant account and all non-rewards debit cards regardless of entry method (swiped/keyed)
VISA/MC/DISC MID-QUALIFIED FEE: 0.80%
Added to the “Discount Fee” typically for keyed non-rewards cards & swiped rewards cards.
NON-QUALIFIED FEE: 1.70%
Added to the “Discount Fee” typically keyed rewards cards, however this could include swiped business or rewards cards.
AXP KEY ENTERED FEE: 0.30%
Assessed for Amex Transactions that are keyed in
TRANSACTION NETWORK ACCESS FEE: $0.20
Charged for every credit card transaction attempted in the MINDBODY software
MONTHLY MINIMUM DISCOUNT FEE: $25.00
Charged if you do not accrue at least $25.00 in discount fees
Card Association Fees
FIXED ACQUIRER NETWORK FEE (FANF): Varies
This fee is billed on a monthly basis and is paid to Visa/MC. It is based on a your business type, number of locations and the amount of volume you process. This averages at about $3 per merchant but can be lower or higher based on the variables.
FEES FOR ACCESS TO CARD BRAND SERVICES: Varies
These fees are billed on a monthly basis by the card associations (Visa, MC, Disc, Amx) and are based on your business type, number of locations, how you process transactions and the amount of volume you process.
AXP ACCESS FEE: 0.30%
Charged for all settled American Express transactions for accessing their network
AXP SYSTEM PROCESSING FEE: 0.30%
Charged for all settled American Express transactions for processing & settling these transactions
MASTERCARD FEE: $15.00 (Annual)
To support the continued efforts of the brand, MasterCard implemented a yearly $15 fee per merchant location. Billed usually in July or December depending on when you opened your merchant account.
MONTHLY SERVICE FEE: $9.95
Charged monthly for having a merchant account
EARLY TERMINATION FEE: $0
You are not billed a fee for early termination
Validated: $18.80 Quarterly
Non-Validated: $28.80 Quarterly and $9.95 Monthly Non-Validated
The cost of the PCI validation program to ensure your business has met the PCI requirements of Visa and MasterCard. This fee is billed quarterly (January, April, July & October) and if you are not compliant within 180 days of approval a $9.95 monthly fee will apply in addition to the quarterly.
RETRIEVAL FEE: $15.00
In the instance that your customer requests information about your company from their bank because they don't recognize the charge that was issued to them
CHARGEBACK FEE: $15.00
If a customer disputes a charge from your company (done through their bank)
ACH RETURN FEE: $15.00
Charged if we are unable to debit your monthly processing fees
BREACH COVERAGE FEE: $9.95
Insurance protecting your business from Visa and MasterCard fines for up to $100,000 per location. It is possible to incur as much as $20,000 in fines just for a suspected breach and much more for an actual breach. You can opt out of this program at any time.
SERVICE FEE: $10.00
Charged monthly with your MINDBODY software for having ACH
PER TRANSACTION FEE: $0.50
Charged for every ACH transaction attempted in the MINDBODY software
DISCOUNT RATE: 1%
Charged for every ACH transaction settled in the MINDBODY software
REJECT FEE: $6.00
Charged to you for every ACH transaction that is rejected from your client's bank
RETURN FEE: $6.00
Charged to you when you issue a refund via ACH
2.9% + $0.30 per non-swiped transaction
2.75% + $0.20 per swiped transaction
(Yes, on all transactions.)
$20.00 fee for any chargeback/retrievals
Seriously. That’s it.
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MINDBODY raises their prices every year. This makes the software especially difficult to obtain for new studio owners who are just starting out. fitDEGREE offers the same functionality of MINDBODY at a price that small business owners can truly afford. And if you’re already killing the game, wouldn’t you like more of that revenue to go back into the business instead of into your software? With prices starting at just $50 per month, fitDEGREE customers save AT MINIMUM $900 per year. That’s a big deal.
As MINDBODY gets bigger and bigger, it gets more and more difficult for them to offer a personalized experience for their customers. What does this mean? If you have any issues with the software, questions or concerns, you’ll have to search through a library of Q&A, wait a few days (or even worse, pay!) for a human to help you out. This is NOT the case with fitDEGREE. We understand that your studio management software is an essential piece of your business. Not only is fitDEGREE simple to understand and use, our customer care team will personally help you set up your account, and in our middle service tier, you’ll have your own customer care rep you can reach out to for help directly at any time.
Check out what other things separate fitDEGREE from MINDBODY
MINDBODY has a lot of great features, and you can rest assured that we have all the ones you know and love…. plus a few more you didn’t know you needed! These are some huge differences that set the two services apart, and as you know, the little details can make all the difference.
Our feature highlights include:
Software that is always up to date. We have the newest technology, so you do too.
Social Features. We’re living in a social world; we’ll help you make it work for your business.
Announcement Board. Keep your members informed means keeping them engaged.
Website Widgets. These are super handy, especially when you can process payments directly on your website.
Transparent Processing Fees. 2.75% won’t mysteriously turn into 3 or 4% by the time you’re done. What you see is what you get.
Revenue Statistics. It’s much easier to understand what you can clearly SEE.
The Newest Technology
By using the newest technology platforms, we seek to provide the best user experience for both you, the studio owner and your members. No longer will be the day when your members walk in needing to pay because they couldn’t figure it out. We spend a rigorous amount of time testing the user experience and carefully following the three click rule. Everything you and your members need to do should all be within three clicks of you when you open the software.
Social Referral Marketing
fitDEGREE social features allow you to create a referral marketing program without lifting a finger because workouts are always better with a friend! Members can make friends on the app, see when their friends are attending class, and also invite their friends to classes they are planning on attending. What does this mean for you as a studio owner? You can sit back and let your members drive traffic to your studio by simply encouraging them to get their friends involved in their workouts.
Engage Members Easier
Keeping your members informed means keeping them engaged. We make it easy to keep them engaged by creating one platform for you to share your most important news on. The fitDEGREE app actually has its own Announcement Board that can be accompanied by a push notification. Have an emergency to let your members know? Share it here. Trying to promote an event at your studio? Share it here. Get more out of your current members.
Process More Payments
And while we love, love, love our apps, having a killer website presence is important too because lots of new members will end up finding you through a Google search. Once they get to your website, they should be able to sign up with ease! fitDEGREE offers website widgets that allow registration, payment (unlike MINDBODY), and sharing to social media so you don’t lose a single member who finds you online! Having this functionality means more sign ups and automated billing, which makes your day much easier.
In a world of online payments, processing fees can be tricky to understand. That’s why we continue to keep it simple. Not only do we have the lowest rates on the market, we also keep it transparent with you. What you see in the image to the right is what you get. This is the industry standard compared to when you pay a friend over PayPal. It doesn’t get much better than PayPal when you’re processing payments, amiright?
Visual Business Analytics
We think most people are visual learners and I don’t mean accountant tax return style. I mean easy to understand, easy on the eyes, colorful graphs. We take the most important numbers you need to see and lay it out for you really simple. Oh, and we track everything so what you see is just the tip of the iceberg. If you need another metric to help you understand your business better, just let us know and we will get that information to you custom, for FREE.