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should you give payment options?

bobbygedd

LawnSite Fanatic
Location
NJ
is giving options on payment terms a good idea? for example, you could give them a choice: 9 month payment plan. 10 month payment plan. 12 month payment plan. do you see any drawbacks to giving them an option? any benefits to you?
 

rodfather

LawnSite Fanatic
Location
Clinton, NJ
The only benefit of a 12-month plan I see BG is you have $$$ coming in all year long even when you are idle in the Winter.
 

Lawn-Scapes

LawnSite Silver Member
Location
Maryland
Mine is set up with different options than your example. It has worked out great for me over the last couple of years. I believe the client likes having a choice.
 

Precision

LawnSite Silver Member
Location
Cocoa Florida
More choices leads to more confusion.

The GP is a rather dumb animal. The best payment option is the one that works for you and let them adapt.

Besides it makes bookkeeping so much more complicated having different systems.
 

NickN

LawnSite Bronze Member
Location
Alabama
IMO,yes.
Example: 36 week schedule @ $40 per week.("I can't afford $40 per week)
"No problem,we can put you on the EZ Pay plan for $29.95/52 week pay schedule.One year service agreement,no cancellation clause."
Do the math.Yes,it indeed costs more overall with the 52 week plan,but alot of people can afford lower monthly payments.Now,it's going to cost me more waiting for their money when I can get an 8% return on investing,plus have the same bills coming in monthly.
 
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