Market drops , 2 customers cancel

Discussion in 'Irrigation' started by Mdirrigation, Aug 4, 2011.

  1. Mdirrigation

    Mdirrigation LawnSite Silver Member
    Posts: 2,468

    Got in today I was checking messages and watching the news . Dow drops over 500 points , Well Two customers want their deposits back , no big deal ,they werent big jobs . I get a 20% cancellation fee .

    I have a feeling the brakes are going to be slammed on this economy real quick and hard.
     
  2. Wet_Boots

    Wet_Boots LawnSite Fanatic
    Posts: 46,476

    Same economy we had last month. Same one we have next month.
     
  3. ZX12R

    ZX12R LawnSite Senior Member
    Posts: 775

    Thats too bad.Maybe they will call you back in a month or so when they see the markets are rising again. We were long overdue for this correction which is now 11% on the dow. Buy,buy,buy,the selloff is overdone and stocks are cheap. Big Ben will do whaterever it takes in keeping us out of a double dip recession. :)
     
  4. txgrassguy

    txgrassguy LawnSite Gold Member
    Posts: 3,084

    I used to have that problem but have since re-directed who I choose to work for just so their figment of economic status doesn't whack me in the butt.
    On new maintenance accounts I demand a three month deposit up-front when signing a one-year contract. I tell the new client they make the year and the deposit is applied to the following year renewal. If they drop I will prorate the deposit return.
    Those that scream I won't work for - those that pay have remained faithful clients to this day.
     
  5. It's going to be a roller coaster ride for sure. What it takes to get the economy on a growing track doesn't jive with our current prez's ideology. When capital goes on strike it can get real ugly.
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  6. rlpsystems

    rlpsystems LawnSite Senior Member
    Posts: 471

    find rich people.....and work for them.......not everyone can afford irrigation
     
  7. AI Inc

    AI Inc LawnSite Fanatic
    Posts: 25,161

    If boots had his way, they couldnt either.
     
  8. Wet_Boots

    Wet_Boots LawnSite Fanatic
    Posts: 46,476

    malarkey :)
     
  9. Stuttering Stan

    Stuttering Stan LawnSite Bronze Member
    Posts: 1,503

    Knee-jerk reaction. Are they going to call back when the market rebounds? If an install depends on market conditions, maybe they really can't afford it.
     
  10. Lot of people looking at their nest eggs and wondering if they will ever be able to retire. Especially since they know the better they do the more they will be demonized and forced to give up a large percentage to those that took no retirement planning efforts. We are getting ourselves deeper and deeper in a hole.


    @
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