Have a 24 hour cancellation policy but be flexible to your great clients. We have a 24 hour cancellation policy but we know life happens. So what we do first, if possible we try to reschedule the clients. We charge them for the cancellation BUT if they make up the session this week or the following week. Then we give them a FREE session to make it up. Our clients who are phenomenal, harder working, never cancel for them we don’t charge because they might cancel just ONCE every 6 months.
Our clients who cancel often and very last minute, like within the hour of their appointment then we definitely charge them!
General rule is, charge those who make it a habit, work with those who never do it (you also have to be flexible).
Best of luck,