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Down Payment #2868411
07/11/19 02:22 PM
07/11/19 02:22 PM
Joined: Apr 2014
Posts: 200
Minto, NB Canada
Duaner Online content OP
Full Member
Duaner  Online Content OP
Full Member

Joined: Apr 2014
Posts: 200
Minto, NB Canada
What are the pros and cons of asking for a down-payment for purchasing and installing a Damp Chaser (dc in my case but any work beyond the regular tuning and repair etc? Do any (maybe all) of you do the percentage money up-front before you get into a project. Mine is purchasing the Damp Chaser which isn't all that much money I guess and I'm sure with this customer my money is secure but, even so, what is the general policy (if there is one) and if yes why do you ask for a downpayment and what percentage of the estimated total cost do you ask for?


Duane Graves
www.pianotuningfredericton.com

"Pushin 70...still haven fun I think..."
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Re: Down Payment [Re: Duaner] #2868419
07/11/19 02:44 PM
07/11/19 02:44 PM
Joined: Feb 2012
Posts: 270
Georgia, USA
R
RestorerPhil Offline
Full Member
RestorerPhil  Offline
Full Member
R

Joined: Feb 2012
Posts: 270
Georgia, USA
I normally stock the Dampp Chaser combos, buying them three at a time. That way I can have a set-up in my van and just install right away, and the customer pays me upon installation. If I am dealing with repairs which take no more than two trips with a little shop work, I just bill all at completion.

The next step up would be maybe a third, then balance at completion.

On major work, I do thirds: One third at pickup; one third at some particular milestone*; the last third at delivery. Often, if I will be returning for a follow-up regulation or tuning after that delivery, and that is quite common, I will deduct $100-$200 from that final payment, to be paid when that little work is done. (Hey! That gives me a little incentive to go back and finish!)

* An example of "milestone" in the case of a complete rebuild would be having that second 33% payment be due when the strings are in on a restoration job. Wow! "Don't that look perrrrdie?!"


Lavender Piano Services
Established 1977
Tuning, Concert Maintenance,
Rebuilding & Restoration
Re: Down Payment [Re: Duaner] #2868445
07/11/19 04:25 PM
07/11/19 04:25 PM
Joined: Oct 2012
Posts: 935
D
DanS Offline
500 Post Club Member
DanS  Offline
500 Post Club Member
D

Joined: Oct 2012
Posts: 935
As with any business, you take on a bit of risk with what you keep in stock. Items could break, get stolen, become outdated, etc. Therefore, many will charge a slightly higher rate for such items in order to offset the risk.

You'll also save on shipping, so it's win-win! laugh

Re: Down Payment [Re: Duaner] #2868479
07/11/19 06:37 PM
07/11/19 06:37 PM
Joined: Feb 2009
Posts: 1,755
PA
daniokeeper Offline
1000 Post Club Member
daniokeeper  Offline
1000 Post Club Member

Joined: Feb 2009
Posts: 1,755
PA
50% of the completed job in advance before I order parts. The other 50% due at completion.

2 reasons:

It's unfair to ask me to tie up my own money. If multiple customers order Dampp-Chaser installations and other parts as well, this could potentially cause a cash flow problem for me.


If the customer is unwilling to advance the money, then he might change his mind after the parts arrive. Iow, if he won't commit his money, I won't commit my money.

Last edited by daniokeeper; 07/11/19 06:47 PM.

Joe Gumbosky
Piano Tuning & Repair
www.morethanpianos.com
(semi-retired)

"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -Marcus Aurelius

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