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Down Payment Poll

joe

CGF II, Certified Grumble Framer Level 2
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

CGF II, Certified Grumble Framer Level 2
disregard this mess

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

Mike Labbe

Member, Former moderator team volunteer
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%
 

joe

CGF II, Certified Grumble Framer Level 2
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

PFG, Picture Framing God
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

In Corner
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...:mad:
 

joe

CGF II, Certified Grumble Framer Level 2
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!
 
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