I have made the decision to change the way I take project payments.
Traditionally the (and the widely accepted) way for receiving payments for large projects is to take a deposit and then to take the remaining balance in 2 to 3 additional payments over the course of a project. The number of payments being based on the overall total price of the project. Typically, the final payment being due upon completion of the project. In theory, this works fine for most designers.
I have decided that I am going to change this up a bit because I want to:
- Make this as easy as possible on my customers
- Make this as easy as possible on myself
- Make this as easy to manage as possible
I have found over the years, especially in the past couple of years that sometimes it is just the “big” payments that customers are uncomfortable with. It is not the overall cost that is the problem, it is the big payments. After much consideration, I am going to take that out of the equation and spread the payment of the project out. The price stays the same, but it becomes more manageable.
All projects will still have that initial non-refundable deposit of 25%. My initial deposit varied from 25-30%, but it will be 25% across the board now. This counts as your first payment. The remaining balance will then be split into monthly payments over 3-9 month terms. Your terms will be based on the overall cost of your project and the length of your project timeline. Longer terms may be considered if you have a longer project timeline.
Your monthly payment due date will be one month from the day you make your deposit and each month thereafter based on the terms of your project agreement.
All balances of $500 or less (opening balance or balance after deposit) must be paid in full within 6 months and your payment terms will reflect this.
By doing this, my goals are:
- to break the payments down into smaller and more manageable chunks (often between $50-100 per month)
- to allow more clients to complete their graphic and web design projects in a more timely manner.
This new payment method is EFFECTIVE IMMEDIATELY for all projects going forward. If you have a current project and have an outstanding balance, please ask about switching to a monthly payment option.