Retainer Fees!

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D

DJMN

New DJ
Feb 6, 2007
4,533
1
45
Northern Minnesota
What would you recommend for a holding date fee? Of course this is non-refundable.


I am currently at 25%.....but I am now considering 50%


Thoughts/Ideas....what works for you guys??
 
It depends on your market, Adam. I charge a non-refundable $200.00 dollar retainer to hold the date, if the event date is more than 90 days out.

Anything that is booked within 4 weeks of the event, the retainer fee doesn't apply. The balance is due in full upon the clients receipt of the contract which has an absolute balance due date clause included.

If that date goes by without my receiving monies and the contract, said contract becomes null and void.
 
What is the driving thought behind the amounts you charge? To have the client prove they are serious about getting married? You could retain a $1 and have the same effect. The contract makes it legal. So, is the retainer advanced liquidated damages?

Dave
 
Like Charlene said. 50% down. This is usually enough to make them not back out and lose their booking fee. And if they do, you have made half of what you normally would have.
If your total rate is a large amount, say like $2000., then you have some room for adjustment.
 
Dave Winsor said:
What is the driving thought behind the amounts you charge? To have the client prove they are serious about getting married? You could retain a $1 and have the same effect. The contract makes it legal. So, is the retainer advanced liquidated damages?

Dave
Click to expand...

Dave
We do 50% down and the other due 1 week before the job.

Of course they are serious about getting married but say you had a bookng and charged a $1 deposit a lot of brides dont think about the contract they've just signed they only think about the money they put down. So, if they see another dj and maybe change their mind about you they may think twice about switching if they have so much invested already. Sometimes we've bought out brides deposits though
 
Flat $100.00 retainer holds the date.

If they book only music, balance must be paid at least 7 days before event.

If it's photography by itself or photography and dj services, they pay 50%, 30 days in advance and the balance is due when they receive their photos, which is around 4 weeks after the date of the booking.

It's what works well for us and we've had no problems with these arrangements.
 
50% with contract and the other 50% at the finalization or 30 days before, whichever is closer to the date. The 50% is a positive cash flow measure in addition to them being serious about me.
 
We are at a $200.00 retainer fee currently. Several of our local compadres charge half upfront as a booking fee. If the client is comfy with your rate, there'll be no issues with the amount of the retainer or booking fee. It doesn't alter their cost one bit.
 
33% Day of Contract Signing....

Balance to be paid 14 days prior to event if payment in any form.

Balance may be paid day of PRIOR to set up time if payment is in the form of cash only. Overtime is also cash only in 1/2 hour increments to be paid prior to services rendered.

Additionally, I try to explain how it is a great inconvenience to both the client and myself trying to collect balance due "day of" and discourage it, especially at receptions.

G-Lou
 
Deposit..

I've had it at $300 for the past upteen years it seems. No complaints.

I've had 1 in the past year prepay their entire redcdeption 8 m onths in advance. That I woill not do anymore.

I used to do $150, then I had more cancellations..To most back then $150 was nothin'..

$300?? Nope.
 
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