Taking deposits and final payment

[prjbicell]

Hi guys

I am sure one of you lovely people will be able to point me in the right direction on this one no doubt

The situation is that I am a new start up that supplies and installs a renewable energy home improvement product at a cost to the client of circa £6K - £7K

Now taking cash payments out of the equation I wonder if anyone could help me out with the following:

What is the best way for my agents to take a 25% deposit at point of sale on the night and how can the sub contract installers take the balance of the contract after install? Obviously I do not want "subbies" to be taking cash....and to be honest they would not wish that either

I am sure there are various options out there and I am sure some of you here possibly have a system similar to what I wish to achieve in place already.

Any advice/recommends would be greatly appreciated

Cheers all

 

[StevensOnln1]

Merchant account with mobile card terminals?

 

[Pish_Pash]

You are wanting to collect upto £1750 'on the night' from a customer placing an order?!

Perhaps I'm out of touch...but that seems like a big ask.

 

[prjbicell]

I have thought of that StevensOnln1 but that would mean us having ten terminals for the reps and about another half dozen for the installers. Thanks for your input. Does anybody else have any different methods they are currently using that that just mentioned above maybe?

 

[prjbicell]

It's common practice Pish Pash. Double gazing companies, Solar PV, Solar Thermal, Kitchens, Wall and Roof Coatings et al...... they will all ask for around 25% deposit on the night with the balance due on install

 

[prjbicell]

and Double Glazing even

 

[njsemc]

It's common practice Pish Pash. Double gazing companies, Solar PV, Solar Thermal, Kitchens, Wall and Roof Coatings et al...... they will all ask for around 25% deposit on the night with the balance due on install

If it's common practice, then surely you just need to do the same as the others (double glazing, solar etc.) - I've no idea what that is BTW, but if it's 'common practice', then it's not going to be any great secret or difficult to find out what their payment methods are is it?

 

[prjbicell]

Yes true.. I guess could telephone a double glazing or a solar company and ask how do you taker your money and what are the benefits and costs of doing it that way. I am not sure what response I would get. But funnily enough I thought I would just put the question up here and see if there was anyone on here who was actually using a system or could recommend one first... that's all

 

[njsemc]

If it were me, then I would expect to be able to pay that kind of money by credit card - either there and then on a portable terminal or over the phone (if I was convinced that it was all above board and legit.)
To be honest, I would never pay that kind of money to anybody 'on the night' because nobody would ever convince me that it really was above board and legit without at least giving me time to Google them first. Perhaps that's just me being old-fashioned and overly cautious...

 

[prjbicell]

I can see your point.. but strangely enough people in general are not like that. I have been in direct sales for over 25 years...most of that in the home improvement market and back then before the internet it was no problem getting £25% and not a lot has changed now....even with the advent of the internet
This is totally legit. We are even applying to the IWA for deposit protection for the customer and that will be coming shortly. Also if people pay by credit card then they have protection too.
Your point about you needed to Google first is valid... but I am also sure conmen would make sure they had a website too so I don't think that ads too much cred.
The product has been around for quite a few years now across Europe but just like always we are always the last to cotton on
Your point about a terminal or over the phone is what this post is about really. The best way to be able to accept payments that would make our clients feel safe and that would work for us. Hence I am looking for anyone that has that sort system set up who could give me pointers