Posted by K Effective on February 08, 2017 at 14:25:22 from (162.235.236.141):
In Reply to: Bank Practice Rant posted by Super-H-Mike on February 07, 2017 at 08:19:43:
Well, Mike, I think you have opened a new can of worms with your last post. I would suggest a different approach- take in the work and determine exactly what is needed, price the parts, delivered plus a reasonable mark-up. Call customer to say "I need $X for the parts for your repair. WHEN you pay, I'll order them and move on." If they back out, you are only out the cost of the time you have invested for research, hand them back the unit in a box. Of course, your super regulars don't need that treatment, or the ones you have stuff on hand for. Just the new-to-you customers or the extra big parts cost jobs. You can even be clear "I am pretty sure we don't need anything else, but will call you if I have to order anything extra, just for confirmation, not pay first". Jobs may sit around the shop for a few extra days, but no new parts will. Maybe it is even best to make it universal- the best of customers has lost his checkbook before, as well. Let the parts delivery add to your float time AND cut the labor cost of repairs out of the float picture all together.
Or, use a credit card/operating loan to buy the parts.
Back when I ran a small business, two weeks was my limit on lack of payment. After that, I was on them like stink on a pig. Had a retired deputy chase one or two for me, and only got straight-up beat by one guy in 17 years. We lost money on many jobs, but not because they did not pay us what we billed, but because we didn't bill what the job was worth. (My partner had a soft heart for old ladies, we did jobs at 50% price, on the brand-new Cadillac they just paid cash for...)
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