Companies can make money on customers' tabs paid in advance in several ways. One method is to use the advance payments to earn interest before the service is provided. Another strategy is to implement dynamic pricing, where the cost of the service varies depending on factors like demand and time of reservation. This can maximize profits by charging higher prices during peak times. Additionally, advance payments can reduce the risk of no-shows, ensuring that the company doesn't lose money on unoccupied reservations.
Stop wasting your time on brainstorming sessions that only improve upon existing offerings marginall...
View summary