Enrolling your child in a martial arts program offers numerous benefits, including: physical fitness, self-discipline, and improved self-confidence. When selecting a martial art for your kid, you'll encounter different billing options, such as month-to-month, monthly contracts, and annual contracts. In this blog post, we'll explore the advantages and considerations of each billing type to help parents make the most informed decision for their family.
Month-to-Month Billing
Month-to-month billing typically allows you to pay on a monthly basis without any long-term commitments. Here are some advantages and considerations:
Advantages
- Flexibility: Month-to-month billing offers the flexibility to discontinue or modify your child's training without being bound by a long-term contract. This option is popular for families who may travel a lot, may be visiting an area for long periods of time, or may play seasonal sports.
- Trial Period: This option usually allows your child to try out the martial arts program for a specified time frame (day, week, etc.) before making a more significant commitment.
- Budget Management: Monthly payments can be easier to manage within your family's budget, as they are spread out over time and can be cancelled in the event of unforeseen events.
"Month-to-Month provides flexibility at a premium..."
Considerations
- Cost: Month-to-month billing may have higher monthly fees compared to long-term contracts due to the absence of a long-term commitment to the gym.
- Promotional Discounts: Some martial arts schools may offer promotional discounts or incentives for longer-term commitments, which may not be available with month-to-month billing.
- Limited Availability: In some cases, month-to-month billing may be subject to availability depending upon the gyms capacity limits or mat space.
Monthly Contract
A monthly contract requires you to commit to a specific duration, typically three, six, or twelve months. Monthly payments are due throughout the entirety of your contract with no exceptions. Let's explore the advantages and considerations:
Advantages
- Commitment with Flexibility: Monthly contracts provide a commitment period that offers stability and consistency of your billings while allowing flexibility compared to longer-term contracts.
- Potential Discounts: The recurring revenue from monthly contracts provides a steady stream of income for the gym. Some martial arts schools offer discounts (usually 5-10%) for monthly contracts compared to month-to-month options.
- Access to Promotional Offers: Monthly contract members may have access to promotions, special events, or workshops offered exclusively to students who are on a contract.
"Monthly contracts cost less but limit flexibility..."
Considerations
- Length of Commitment: Consider whether the duration of the contract aligns with your child's long-term interest and commitment to martial arts.
- Early Termination: Review the terms and conditions regarding early termination of the contract, as there may be penalties or additional fees involved.
Annual Contract billing
An annual contract billing requires a commitment for a full year at least. Let's explore the advantages and considerations:
Advantages
- Long-Term Commitment: An annual contract billing ensures your child's consistent training and allows them to fully immerse themselves in the martial arts program.
- Price Incentives: Martial arts schools often provide significant discounts (10-20%) or incentives for annual contract billings, making it a cost-effective option for those willing to commit.
- Access to Promotional Offers: Annual contract billings may also include other incentives like: free uniform, free swag (shirt, sweater, etc.), or free private lessons.
"Annual contracts reduce cost but may have fees if you decide to cancel..."
Considerations
- Long-Term Commitment: Consider whether your child's interest and dedication to martial arts are long-term before committing to an annual contract. Interests in other activities, like seasonal sports, may pull you away from consistently training.
- Financial Considerations: Evaluate your budget to ensure that an annual contract aligns with your families financial capabilities for the entire length of the contract.
- Early Termination: Understand the terms and conditions regarding early termination of these billings, as it may come with penalties or fees.
Other Factors
Billing Date
Verify with the gym if you are charged on a specific date (1st of the month, 15th of the month, etc.) or on the date of your initial sign up. This will help you determine what day you sign up and/or when to expect your bill.
Quarterly or Semi-Annual billings
These are additional billing options that some gyms offer usually around the beginning of the calendar or right around the beginning of summer when kids get out of school. The come with their own terms and conditions so be sure to vet these out before you sign up
Cash vs Credit
Some gyms offer cash payments for their billings but this option usually requires you to pay multiple months in advance.
Promotions and Discounts
Many gyms offer promotions in the beginning of the year, at the end of a school year going into summer, or right before school starts. Use this to advantage if you're looking for a seasonal or long term activity for your child.
Conclusion
Choosing the right billing option for your child involves considering their commitment, availability, and financial considerations. Month-to-month billings offer flexibility but may lack discounts and promotions available with longer-term commitments. Monthly contract billings strike a balance between commitment and flexibility, while annual contract billings offer potential cost savings and exclusive opportunities. Evaluate your child's interest, commitment level, and financial situation to determine which option best suits their needs. Remember to inquire about promotional discounts, trial periods, and any terms related to early termination. By making an informed decision, you can provide your child with a rewarding and enriching martial arts experience.
