Down Payment Poll

[joe]

How much down payment do you require?

1. None

2. 10%

3. 20%

4. 30%

5. 40%

6. 50%

7. Paid in full in advance

 

[joe]

disregard this mess

Please disregard this poll. It didn't work. I couldn't fine the "make a poll" button. My apologies.

 

[Paul N]

No problemo, but it is %50!

 

[Richard Darling]

50% here too.

 

[D_Derbonne]

50%

 

[Mike Labbe]

Howdy

We did do this not so long ago. These were the results:

http://www.custompictureframing.com/poll_results.htm


GRUMBLE DEPOSITS AND TURNAROUND TIME POLL - MAY 2004

Average turnaround time summary:
7 days 21%
10 days 19%
14 days 34%
21 days 6%
Special note: Even though 34%/14 days is the winner, 48% complete the orders in 10 days or less. Stats are so open to interpretation.

Deposits we generally ask for:
NO DEPOSIT: 24%
OTHER/MISC: 2%
25% (1/4): 3%
33% (1/3): 3%
50% (1/2): 63%
66% (2/3): 1%
75% (3/4): 0%
100%/Full: 3%

 

[danny boy]

50% here also...
Turn around 10 days.

 

[RoboFramer]

No deposit, turnaround 4 - 7 days.

 

[Mike Labbe]

We are 50%, turnaround is 7 business days (about 8-9 calendar days)

 

[joe]

Thanks everyone. I don't charge up front but I think I need to start. I may take out a small ad to announce this. My cash flow is running in fits and starts. Thanks again.

 

[j Paul]

Thanks everyone. I don't charge up front but I think I need to start. I may take out a small ad to announce this. My cash flow is running in fits and starts. Thanks again.

I don't think you want to run an add announcing that, might sound harsh with out your pleasant smile and voice inflection as you tell your customer in person. Just phase it in with all new customers and explain to repeat customers that it is a necessary new policy. By the way I get 100% on most orders, only take less on good repeat customers who pick up there work in a timely fashion.

 

[Paul N]

Joe:

%50 is good and customary but: if you have a bad feeling about something / someone (i.e, customer says: "I really need this next week before I MOVE to the Straits of Magellan"), you should ask for %100.

You have no idea how often that happens and the customer forgets to pickup (and forgets to pay) before the move!

I have stuff here from people who moved to all parts of the globe...

 

[Jerry Ervin]

We all should get a deposit up front.

I'm guilty of not doing it all the time myself.

 

[joe]

In the five years I've been open I've been afraid to ask for a deposit for fear that everyone will walk out. I suppose that is something I need to find out first hand. If I have too many walking out I guess I can always stop asking!

 

[Rick Bergeron - CPF]

We don't ask for a deposit.

We ask "How would you like to pay for this today?" If the following comment is "Must I pay for it in full today?", then we reply that a 50% deposit is sufficient. Many times the payment will be in full.