Undecided: Convienience to customer vs. protection of business?

I book clowns for parties. My business is thriving & one of the reasons I get so much business is because I am very easy to deal with. I don't require deposits or contracts & you dont need a Credit card. So someone who needs someone at the last minute can call us with no hle vs. our competitors will require them to make a trip to their office to leave a deposit & sign a contract. So, on one hand my success can be attributed to that lieniency. But, on the other hand, because I don't require contracts or deposits sometimes someone will book a party & then no guests show up so they turn the entertainer away without payment. If you were me, would you require contracts/deposits & hus lose your "easy to deal with" advantage (and add the expense of creditcard processing) or just put up with the occasional flake understanding that its a cost of doing business when you keep a customer-friendly booking policy? At this point, keep in mind, the "good" bookings outweigh the bad. Thanks!