What to do about collecting security deposit or saving card on file for event rental business?
I started a small event rentals business for tables, chairs, concessions, etc out of our garage. We are in month 5 of the business and majority of the clients have found us through facebook marketplace. These items were not cheap to buy in the first place so we thought to cover ourselves by asking clients to either pay a security deposit or save their card on file. I have had three cancellations so far because these clients do not feel comfortable with either of these options. One of them even paid the invoice but did not want to pay for security deposit or felt comfortable with saving a card on file so I had to refund her invoice. I am using Square to charge the invoices and have a contract as well which says that this is our requirement. I tried to share to these customers that we are a registered LLC and have an instagram page, etc but they did not seem to be convinced.
Any suggestions on what to do moving forward? We have been getting only a few leads every few days so every loss of customers makes a difference.