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deposits
- Thread starter WOODBS
- Start date
Jester1167
Premium Subscriber
+1
MikePro
New Member
/agreed
HeavyHitter
New Member
1/2 up front most of the time. Sometimes more depending on what the job is and who it is. Most of the time I try to make sure to at min cover materials.
Dan
Dan
CentralSigns
New Member
I currently get 40 % upfront and the rest 7 days net after completion. Generally don't get deposits for work under $500 as well. I have been considering going to 50%r 60% for $400 or more, and probably will very soon. 40% isn't always covering materials totally anymore. Got myself in a couple binds, to much tied up in account receivables, strangles your ability to take on more work. The same happens if a ton of work comes in all at once.
Ken
New Member
The percentage does'nt matter...
If I am familiar with a client...I rarely ask for a deposit..keep in mind..I 'm in a small community.
Most of my biz is done on a handshake...or on the phone...
But I don't hesitate to get SOME money up-front.
20 - 50 - 100 ...I'm thinking that once a client to commits to some up-front money...that's good enough for me...
Cheers !
Ken
If I am familiar with a client...I rarely ask for a deposit..keep in mind..I 'm in a small community.
Most of my biz is done on a handshake...or on the phone...
But I don't hesitate to get SOME money up-front.
20 - 50 - 100 ...I'm thinking that once a client to commits to some up-front money...that's good enough for me...
Cheers !
Ken
TheSnowman
New Member
I'm with Ken. A lot of mine I don't get stuff up front, but I'd say 50% of my jobs are under $100 each...so it's nothing big. When I do a bigger job, or when I don't trust someone (yes, I judge each and every person that walks in my shop) I will get 50% down to get them back to pick up their stuff, or I get 100% down. Most of my customers are repeats monthly, so they just get billed.
pointjockey
New Member
50% to begin design, 25% at print and remaining at pick up
royster13
New Member
You will get all kind of opinions about deposits, however, at the end of the day it is personal decision based on the profile of your client base....Many will say if you insist on deposits you will get them and not lose clients.....Problem is you can not prove this theory....More flexible payment terms will usually generate a higher volume of work that will give you a better bottom line even if a few payment problems occur....
6 years ago we never asked for a deposit and always ended up with jobs not being picked up or paid for.
We finally started if they did not have an account 50% upfront before any work was done and other 50% paid upon artwork approval or at time of completion, depending on the job.
Very few customers complained. The ones that did were the customers that would place an order and take several weeks or months to pick up their orders. I can't stress enough deposits works. I find by asking for a deposit you will also get more customers that are willing to pay in full up front.
6 years ago we would have 50 plus jobs waiting on pick up that was not paid, today we have none. Cash flow is king. Custom work not paid for and sitting for weeks will create tons of stress on you and your business.
A deposit keeps the customer involved and shows their commitment.
We finally started if they did not have an account 50% upfront before any work was done and other 50% paid upon artwork approval or at time of completion, depending on the job.
Very few customers complained. The ones that did were the customers that would place an order and take several weeks or months to pick up their orders. I can't stress enough deposits works. I find by asking for a deposit you will also get more customers that are willing to pay in full up front.
6 years ago we would have 50 plus jobs waiting on pick up that was not paid, today we have none. Cash flow is king. Custom work not paid for and sitting for weeks will create tons of stress on you and your business.
A deposit keeps the customer involved and shows their commitment.