Advance Testing Fees Strategy
The Advance Testing Fees strategy allows students to save on their grading fees by paying for them upfront. For example, if your fee is $40 per exam and a green belt student has seven exams to complete before reaching the black belt exam, the total cost would be $280. You can offer them the option to pay for all their exams in advance at a non-refundable discount of up to 50%.
The specific discount is up to you, but it’s crucial to ensure that the student understands this offer is non-refundable. This approach not only provides a financial incentive but also motivates students to continue their training, even if they consider quitting.
You might want to limit this offer to certain ranks or clubs, such as the Black Belt Club, or target students approaching your highest dropout rank. For example, if you typically lose students at the green belt level, collecting 50% of their exam fees in advance might actually result in more revenue than waiting for them to test and pay the full amount—especially since some may drop out and never pay another fee.
Additionally, students who have already paid their advance testing fees may feel more committed to continuing their training rather than dropping out, knowing they've already invested in their future progress.