Transitioning to a Booth Renter Model

In this article, you'll learn the process of switching over to the Booth Renter model for your business.

What is the difference between booth renter vs commission?

Booth renters are service providers who typically are charged a flat or variable rental fee for space within the spa/salon/studio instead of getting paid an hourly rate or commission by the business based on their services provided.

If your business has booth renters and you'd like to get them set up with their own Mangomint Pay account, an admin will need to create different payment accounts for the service providers so all service sales are automatically routed to the appropriate bank accounts.

You can learn more about how they work here: Payment Accounts

How do I set them up?

An admin account will first need to create a payment account for you by following these steps: How to Set Up a Payment Account for a Staff Member

Once this step has been completed you can complete the process by following these steps: How to Sign Up for a Payment Account (for Staff Members)

What information do I need to sign up?

You will need the following information to sign up:

  • Business email

  • Business website (social media links work as well)

  • Phone number

  • Social Security Number or Business EIN

  • Bank information (Account & Routing number)

In some cases, you will also be asked to provide other verification documents like your driver's license / ID or bank statements.

Note: If you already have a Stripe account you will have to use a different email address to sign up.

Do I need to sign up with my personal or business information?

For individuals, sole proprietors, or single member-LLC, you will need to sign up with your personal information.

If you have a business with an EIN, you will need to sign up as a company.

How much are your fees?

You are only responsible for per-transaction fees. We do not have any additional monthly or hidden fees.

In-person transactions: 2.4% + 15¢ Virtual transactions: 2.8% + 20¢

How can I see how much I made?

Balance & Payouts can be found by accessing your payment account in Mangomint. Please refer to this article for more details: Mangomint Pay Balances & Payouts

Do I need my own credit card terminal?

Not necessarily, if your salon already uses a Front Desk Display you can process your payments there. But if you would like to process your own payments at your booth, you can connect your own card reader to an iPhone or an iPad.

When will I receive my payment?

Payouts are processed after 1 business day. You can learn more about the Mangomint Pay payout schedule here: Mangomint Pay Payout Schedule

How do I file for my taxes?

Booth rental means you own your own business. This means that you are responsible for taxes as no taxes are withheld through your employer. A 1099-K form will be issued and mailed to you directly.

Can I sell my own products?

Yes, but you will have to make sure that you are set as the "Owner" of the product. Otherwise, product sales will be processed through the Primary Payment Account.

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