Gratuities: When, Where, & Why

Peyton KingClient Trade Tips

As a business owner, you know how challenging your work can be. It takes more than the average joe to be an entrepreneur because it takes all of the time, energy, and resources you have available. Hence, why successful business owners can be few and far between. 

In the service industry, tipping is customary. Have you ever wondered why you should though? Or considered that leaving one just isn’t something you do? 

Well, for all the time, energy, and resources you put into your business, the service industry takes that one step further, especially with their employees. When it comes to tipping, many customers consider this a way to show appreciation for someone’s service, effort, and time. And, did you know that some service-based employees rely mostly on tips alone to make a living? Servers, for example, often only make $2.13 per hour before tips. This is because only 7 states require servers to make minimum wage before tips. Crazy right? 

When it comes to other service professionals, you’re showing them a generosity that says hey, I really appreciate what you’re doing for me. Thank you for spending 90 minutes working those knots out of my back, thank you for making sure my car was not damaged and parked efficiently, thank you for doing a fabulous job on my hair, thanks for carrying my bags to my room. You should tip these people because you are trusting them with valuable services! You can’t go wrong with being generous. 

Let the provider know you value their participation in Tradebank with a generous tip and ensure they look forward to seeing you again. Gratuities are to be paid at a minimum of 18% in cash for all industries where tipping is appropriate. If you feel the service does not warrant an 18% gratuity, contact management before leaving the premises. And try to remember, even the best servers have bad days.

Ask your Tradebank Broker or the proprietor of the establishment what is appropriate if in doubt. Happy Trading!