Retainer or deposit

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DJChas

New DJ
Aug 27, 2007
147
0
53
How many of you ask this from the client? Always? And when is a good time to ask for one if you do? Before a meeting or after a meeting, or when they first contact you?


The reason I ask is because I was booked for a wedding. I turned down another gig because of the time conflict with this wedding. I did not get a retainer all in good faith. The client later canceled. I lost out on the other gig as well now. I'm not too happy...

Let me know. Thanks
 
when I get contacted I stress for a deposit to hold the date, I too have lost gigs by not taking deposits,, then too, they may be playing us against other jocks to gt the"lowest fee" if they give you a deposit, kinda takes them off the shopping block
 
Prospects have ten business days to return a signed contract with the $200.00 retainer. If face to face, the retainer is usually paid via check.

Without the contract and retainer on time, there is no reserved date. Cancellation by the client means a forfeit of the retainer. We inform prospects of this right off the bat. It's also printed in the contract.

We had a couple of cancellations last year; both prospects forfeited their retainers. You've got to have it in writing... it doesn't exist otherwise.
 
Retainer holds the date until a Contract Agreement can be executed. Retainer will be deducted from agreed upon fee and the balance will be due two weeks prior to the event date. Works for me. Contract also indicates the amount and date Retainer was paid. Furthermore, contract also specifies that Retainer is auto forfeited and percent of fee is due if cancelled within a certain period. Had two cancellations last year and both forfeited Retainer and paid 50% of agreed upon fee.
 
By the way, I know some here charge a small retainer to hold the date but I require 50% down. Out of 100+ dates, I can only remember one who balked at the retainer. Half-down seems to be a standard amount among wedding vendors and if they cancel I can feel a lot better about it than if I'd held the date for only $100-$200.
 
Didn't you use signed contracts either?...if not, yikes!

Nothing is booked or secured until I receive a SIGNED contract & the booking retainer from the prospective client.
I tell every prospect that I meet: I work on a 1st come-1st serve basis.
The date is available to everyone, until we both secure it.

(On another note: I NEVER pre-sign any contracts)
 
Fred Wright said:
Prospects have ten business days to return a signed contract with the $200.00 retainer. If face to face, the retainer is usually paid via check.

Without the contract and retainer on time, there is no reserved date. Cancellation by the client means a forfeit of the retainer. We inform prospects of this right off the bat. It's also printed in the contract.

We had a couple of cancellations last year; both prospects forfeited their retainers. You've got to have it in writing... it doesn't exist otherwise.
Click to expand...

Great advice.

Also, get those cancellations in writing (signed & dated by client) Otherwise, you may get burned. It happened to a fellow DJ.
 
When do you have them sign a contract and give you a retainer? About a month ago, a client said I was booked for sure via phone. I even waived the retainer in good faith. They wanted me to come out and have a meeting with the bride, wedding planner etc. It was 2 hrs away! So I went. Paid for gas, bridge tolls, 4+ hrs of driving both ways...

Client said a week later, they are going with another DJ. Man I was pissed! They didn't like me, ok, but where do you draw the line in regards to having them give you a deposit? Before you even go for a meeting? I mean, do you guys even meet your clients prior to an event to get the time-line and talk about the format etc? Mabe I'm doing it wrong??
 
DJChas said:
When do you have them sign a contract and give you a retainer? About a month ago, a client said I was booked for sure via phone. I even waived the retainer in good faith. They wanted me to come out and have a meeting with the bride, wedding planner etc. It was 2 hrs away! So I went. Paid for gas, bridge tolls, 4+ hrs of driving both ways...Client said a week later, they are going with another DJ. Man I was pissed! They didn't like me, ok, but where do you draw the line in regards to having them give you a deposit? Before you even go for a meeting? I mean, do you guys even meet your clients prior to an event to get the time-line and talk about the format etc? Mabe I'm doing it wrong??
Click to expand...
No need to be pissed keep your reciepts and have your tax man Wright them off as a business expense...
 
Bill Kexel said:
Didn't you use signed contracts either?...if not, yikes!

Nothing is booked or secured until I receive a SIGNED contract & the booking retainer from the prospective client.
I tell every prospect that I meet: I work on a 1st come-1st serve basis.
The date is available to everyone, until we both secure it.

(On another note: I NEVER pre-sign any contracts)
Click to expand...
Here in Texas Verbal contracts are able to stand up in a court of law. It has been quite awhile since I have had to produce one (I do have one created by an attorney) with the exception of the ones sent to me by my Entertainment agency and those do not contain all the flim flam that some DJs add to theirs.
 
Just some random thoughts:


Going to meetings, and the expense involved, with no assurance they will book, is just a part of doing business. It's called a "Free consultation."

I book about 80% of the prospects that I have a meeting with.

I NEVER book at the meeting.

Nothing is "booked" until the contract is signed, and the initial payment check clears the bank.

A week after I deposit the check, I sign the contract, and send it to the client as their confirmation.

I use the phrase "Initial Payment". I do this because if the client cancels, they still owe me the balance.

The balance can be paid at any time up to and including at the end of the event.

I provide a money back guarantee.


When I DJ, or DJ plus officiate, the initial payment is about 33%.
When I just officiate, the initial payment is 50%.
When I DJ for a charity event, they get greatly reduced fee, and do not have to give me an initial payment.


In 27 years, I have never gotten burned:

The one event that cancelled, I got paid in full - and re-booked.
The couple times they 'forgot' to bring a check, I got paid within two weeks.
No client ever tried to invoke the money back guarantee.
 
I always say - NO PAY, NO PLAY

plain and simple
 
DJChas said:
How many of you ask this from the client? Always? And when is a good time to ask for one if you do? Before a meeting or after a meeting, or when they first contact you?


The reason I ask is because I was booked for a wedding. I turned down another gig because of the time conflict with this wedding. I did not get a retainer all in good faith. The client later canceled. I lost out on the other gig as well now. I'm not too happy...

Let me know. Thanks
Click to expand...

Put yourself in their shoes.....when you go buy a car do you like the salesman pressuring you into purchasing a car when you are not ready? Or would you rather wait until you are ready and ask how do I buy that car?

Don't pressure them into anything, 90% of them will walk if pressured. Just let them know when they decide on a DJ service to just fill out your contract. A booking fee is mandatory at the time of booking to guarantee your services. Customer Service is a lost profession in today's world...... Good luck!
 
eldjdelcaribe said:
Put yourself in their shoes.....when you go buy a car do you like the salesman pressuring you into purchasing a car when you are not ready? Or would you rather wait until you are ready and ask how do I buy that car?

Don't pressure them into anything, 90% of them will walk if pressured. Just let them know when they decide on a DJ service to just fill out your contract. A booking fee is mandatory at the time of booking to guarantee your services. Customer Service is a lost profession in today's world...... Good luck!
Click to expand...
Freddy,
Customer Service comes after the sale! You can convince a prospect to buy without pressuring. If you don't ask for the sale you may never get it. You gotta ask for the money. The time to answer any objections is when you are meeting the first time with the prospect. You have to even sometimes bring out the objection so you can address it! Anything other than that is just order taking!
 
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