Does anyone do layaway?

[Former_Member]

It was mentioned to me some time ago to consider doing layaway on my larger ticket pieces. Has anyone done this? How did you handle payment, etc?

[DarkRide]

I do. I require a 25% deposit and we work out the date at the same time. Anything not picked up by the negotiated date goes back in the shop and my policies say that they lose their refund. I've only had one person default, though, and I just returned her deposit (mostly because she did not follow through on anything and I didn't want to do any business with her -- at all).

I did this with 2 listings -- one for 25% of the purchase price, and then day of pick up, another for the other 75%. I'm not sure if there is a better way to do this, but it does work for me.

[Former_Member]

Thanks Caroline, good information! Anyone else?

[Former_Member]

I make installments for my customers, especially when it's bigger order. But I ship only after the last payment. I also buy jewelry for myself this way; I think it's worth a try for you.....

[Former_Member]

I love your shop, by the way!!

[Former_Member]

Thanks Eva, do you make the installments according to the cost of the item or 2 or 3 installments for any layaway order?

[FenderGemsNCrystals]

I do extended reserves. I never liked holding people's money.

[Former_Member]

Hi Lauren,
I'm glad you brought this up as I would like more info on this too :)
Thanks for getting there before me lol

[Former_Member]

It really depends on customer, but I am trying to get 30% of the final order up front, afterwards it is up to customer. Usually they make 2 more payments. I am flexible with this and never had any problems.

[Former_Member]

Thanks again all. Maryanne, I don't want to sound stupid but, what is an extended reserve? Eva, you don't put a time frame on final pay? Also, seems much more bookkeeping keeping tract of who owes still right?

[Former_Member]

I do not.

I am a small business and I don't like the idea of holding onto product for someone who may or may not end up purchasing it.

I've worked at some boutiques that only allow holds on items for 24 hours and no holds on sale items --

I guess the idea is that it's better to actually move the product out the door then hold onto it in *hopes* that someone will return for it; but in a small shop, a customer who might actually buy the product there on the spot may visit the shop just once, and then you've missed your chance at that sale.

[Former_Member]

I hadn't really thought of this for online sales. Great question!

In person I have a habit of being too trusting. When I take my items to work with me, I offer to take payments in installments. In the meantime, the people get to keep the jewelry. Note, I only do this with co-workers, and I've only been burned twice on very low ticket items. (They were fired/quit before they paid.)

[Former_Member]

I allow lay-a-way for larger purchases. I do a 25% nonrefundable deposit and break the remainder down over 4 payments due every two weeks. You have enable "other" as a payment option, the customer purchases the item using "other" as the payment method. I send the customer invoices via paypal.

I have it written in my shop policies they must contact me prior to making the purchase. You are more than welcome to take a look at my shop policies and use them if you like.

Naturally, the item is only shipped once payment has been made in full.