Down payment
Posted: Mon Apr 27, 2020 1:58 am
Some of you are already doing this, but for those that aren’t, or those that may be new to the upholstery business. Always, get a down payment. This is to cover the cost of supplies and a bit of your labor. Depending on the job, it varies between 25-50% of the job total. The reason I’m saying this now, is because of the situation I’m in. I had work in my shop before the state started shutting this down, and quarantining us. Each person reacts differently to this and to each there own. But for over a month I’ve had close to $7000 in work that I still need to get paid for. I luckily took a down payment for this and I’m still doing okay. But people are worried and don’t want to come pick up their stuff, or pay sight unseen for the work. I don’t blame them, and I’m okay with this now given the current situation, and I have space to do so, but not sure how much more space. Needless to say, if I hadn’t taken any money up front, I’d be sitting on a lot of debt and owed money. You never know what could happen like I wasn’t expecting this. Like I said I’m doing okay and there are people who are coming to get their stuff and pay. Just a reminder of situations that may arise that could change everything if you don’t plan ahead.
