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Originally Posted by dekindy
One customer said he got a letter in the mail and deposit refund. Another customer said that she had also supplied components for a build. Food for thought when dealing with a one man shop, just saying. Really not sure why builders get a deposit before the build is begun. At least he is a class act and refunding deposits as opposed to another well-known builder that customers are waiting years and years for their bike.
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Thats'a good question.
The reason is simple - so both sides have some skin in the game. I ask for a $300 to hold the clients place in line - that is their skin. Mine is that I'm making cash flow and business plans based on the promise of that future business. Without predictable and reliable cashflow there is no way a builder can plan and do anything more than survive day to day.
For a short period many years ago I put people in the queue without taking an even small deposit - I just took them at their word. Unfortunately no matter how well intended they were and how much they really wanted a bike when I contacted them and told them is was time to go they bailed - one after another. Lesson learned. So now I ask for that $300 and it keeps to impulse purchases that will never be followed through on to a minimum and now I can plan ahead and run my business much more efficiently........and the customer is assured a spot in the queue. We both have something at risk.
dave