Payday

[TwinSpinDJ]

Obviously, cash flow is a hot topic for some dj's, but not all. There are some on this board who have a "business" and also DJ, i.e. our very own Soft Rock Rick, and Mr. Hank. No offense guys. But, the matter of the fact is some DJ's don't have that extra income from the prior year available. Hence, the need for either a hefty deposit months in advance (speaking of weddings) or payment two weeks in advance.

Myself, I require a Retainer before the Contract is ever signed...to hold the date until the Contract can be prepared and executed. The expception is small events like Sweet Sixteen Birthday parties or those last minute affairs where payment is due two days prior to event date. Check is OK. The trick in this case is "do you turst" the person writing the check? If not, simply go to their bank and "present the check for payment." In this manner, you get your money then, assuming they have money in the bank, and let the other vendors worry about the check bouncing.

I do accept cash payment, but not on the day of the event. The day prior or earlier, yes. Of course the city where you do the gig has a lot to do with why you don't accept cash on the day of the event...crime rates.

It has been a strange beginning to 2011 event payments. In the last 60 days, in stead of a Retainer being paid, they elected to pay the entire amount in full. Can't be unhappy about that...well, maybe. It is tempting to spend all that advance income before the event, but then comes the week of the event and there's nothing to show for playing the gig, so it seems. So, I put the advance payments into my Escrow bank account and then transfer funds to my regular checking account after the event. Now I feel better 'cause I just got paid. LOL

Again, if you accept check for payment the day of the event, you must have that "trust" feeling toward the client. Since I do mostly weddings, so I thought, and after having meetings with the client, you pretty well know if the check is going to be good...knock on wood.

I don't accept credit cards. So, it's check or cash.

 

[ittigger]

We look at it like this, previous clients have told us its so much easier and less stressful for them to have everything paid ahead of time. The DJ for our wedding had the payment due at the event...just not fun to have to remember paying the vendors as well. We've also had clients forget about payment until we reminded them at the event and then they had to scramble to get the money together...it just wasn't worth it.

Another good point.

 

[ahoustondj]

Ditto.

I don't want money for something I didn't do or provide. As long as I have a signed contract, we're good.

:tricool:




.

if you make a purchase from Amazon do you pay C.O.D.?:trirolleyes:

 

[ittigger]

To be honest, even though the show is the delivered final product, we're doing alot of work before then too (if not most of the work before then). So it's not like we're only delivering a product at showtime. Each meeting or email is a piece of the final product.

 

[jokerswild]

To be honest, even though the show is the delivered final product, we're doing alot of work before then too (if not most of the work before then). So it's not like we're only delivering a product at showtime. Each meeting or email is a piece of the final product.

If that's true why not bill our clients like a lawyer? Each consultation is billable against the final balance.

Answering the phone - $10 per call
Answering emails - $5 per incident
Reviewing your planner - $25
Final Consultation - $75
and on and on.....

 

[DJ J Mac]

To be honest, even though the show is the delivered final product, we're doing alot of work before then too (if not most of the work before then). So it's not like we're only delivering a product at showtime. Each meeting or email is a piece of the final product.

I like that, I may have to borrow that thought in the future.

 

[ittigger]

If that's true why not bill our clients like a lawyer? Each consultation is billable against the final balance.

Because I think this helps bolster getting paid before the show. This was mainly in response to:

I'm a services rendered guy -- you pay after I have delivered the service.

I don't want money for something I didn't do or provide.

 

[ittigger]

Houston, you haven't responded to this..

For my own clients, 50% down at time of booking and the Balance on either the day of or prior to the event, Payment in full 4 months or more prior to the event will result in a 5% discount (Usually corporations take advantage of this)

5% discount - just asking - do you up 5% to cover for that or is that a 'loss' (not that it's really a loss)? I like this idea. Do you spell that out in your contract? So you do a deposit due (how many days?) days from the contract being sent with 50% payable (up to when)?

 

[SoftJock Rick]

if you make a purchase from Amazon do you pay C.O.D.?:trirolleyes:

They bill your card when they ship

 

[djrox]

First payment due at signing of contract, subsequent payment terms to be determined during negotiations, and final payment due 30 days out.

As people start chiming in - I wonder if this can turn into an intelligent debate

ROTFLMAOyorofl:yorofl:yorofl:

I hope so but I'm risking not a cent on it.

 

[redhotdj]

the day of the show is fine with me , if they want to pay before great , i have never had any problems yet and yet is the magical word

 

[jokerswild]

Really there's no right or wrong way to collect your payment.... there is only one way and that is the one that is agreeable between you and your client. Once you set precident for how you're going to conduct business then stick to it otherwise repeat clients may get confused.

 

[ittigger]

Agreed - and I stated that up front. Like I said, I'm re-evaluating the way I do it to see if there is a better way for me to do it. These ideas and the conversation have been great.

 

[jokerswild]

Agreed - and I stated that up front. Like I said, I'm re-evaluating the way I do it to see if there is a better way for me to do it. These ideas and the conversation have been great.

I did much the same thing and as of Jan 1 I will now take a set booking fee and the balance due the day of.... by day of, it could be at the start, end or somewhere in between as long as I recieve it.

I may rethink accepting checks or even money orders since I can take credit cards through my phone or Paypal via a internet connection (which also can be supply via my phone). ... or cash.

 

[ittigger]

If I need to, I have a MiFi that I can use - cheaper than having to turn my phone into a hotspot.

 

[djrox]

Trusted established clients earn deviation from standard payment rights in my book.

First time, private, non-corporate clients, pay according to my policy. Larger, established entities may and are given consideration for alternate terms.

All first time clients have to make the first payment at the time of signing.

 

[jokerswild]

If I need to, I have a MiFi that I can use - cheaper than having to turn my phone into a hotspot.

More or less that's why my phone does.... but it has a security code like the MiFi does I just don't need a separate device.... I get 5gb per month whether tethered to my pc or unteathered and surfing though the phone... Pretty nice... and on occations it's actually faster than my DSL service.

 

[Dan The Man]

I'm like Rick, a services rendered kind of guy. If you're a regular client of mine I bill you after I'm done and your satisfied. If you're new I'll take a small deposit to start work the rest is due when I'm done and you satisifed. .

 

[Sounds To Go]

I collect 50% up front with contract, and 50% due by or on the day of the event. I haven't had any issues (knock on wood) with not getting paid. I do have verbiage in my contract stating that only cash will be accepted the day of the event, but I'm usually pretty flexible on that as long as I didn't have a problem with the first check you gave me... :triwink::tritongue:

 

[Scott Hanna]

We collect 50% to book us, with the balance due 14 days prior to the event. If a client asks if they can pay the day of, we will do that.

We've had 2 bounced checks over the years, and both were made good. It's just not something I concern myself with.

the few times people ask if they can pay the day of, I respond "sure, can I ask why?" Their usual response is they feel better paying for something AFTER they receive it.

My response to that is to suggest to them to pay it with a credit card, that way if there is a problem with not receiving a product, they can get all of their money back. Most think that's a good idea.