Payment

[stutzcat1]

Hi Everyone:

Okay next question.

When a project is completed... Say a house wash. Does one get paid that day, or several days later? And if a condo, or apartment building is washed and completed how long after do you get paid? That day, 2 weeks, 30, 60, or 90 days?
Aside from getting paid cash is it hard to get set up for credit card, debit card (bank card), cheque, what other forms of payment can I get set up for? That are not to hard keeping track of.


As for my last set of questions Thanks for your input. I know I will be starting with Residential first, then in the middle of May Awnings, then in August Boats.

I recieved an email from a company who has a hot water machine for $7195 + taxes, Cdn. Electric motor, belt driven, 3 gpm, 3000 psi,oil fired 3 phase/208 Volt unit. What are your honest opinions please reply, as my business will be starting this month.
This unit is also a Kodiak

Thanks Bill W
( Determination, Drive, Desire)

 

[JR Wood]

On residential I get paid when the work is completed.On commercial it is usually 30 days.Get a business bank account and you will be all set. As far as credit cards you need a merchant account.You have to shop around for that.It is not hard to get,you just have to keep an eye on the fees and % they take for each transaction.The only time I have ever gotten cash is when I clean gutters the customer will come out and hand me cash.
You will need a business account for any checks that you get.First you must register your business with the county you are working in and take your trade name certificate to the bank.I don't know how it is any where else but in New Jersey you need the certifcate to get a bank account.

 

[Scott Stone]

First the price is high, and you will not be able to use an electric machine on a customers property.

 

[Laurie Grathen]

US or Canadian dollars?

 

[Dave Olson]

Hello Bill W.

The price is high, how much would this unit cost in the US?

Unless you are planning on having your own Genset, using an electric machine will be almost impossible at most locations. The volume of 3 gpm will make it a slow machine. Have you asked for prices on gas or diesel power equipment?

Dave Olson

 

[stutzcat1]

Payment reply

Thanks to J R, Scott, Laurie, and Dave for your replies, J R the info you you mentioned on the credit cards will definately help out. A fellow student who just happened to be a former banker has some info on credit cards, in which I hope to have in the next week or so. With what we are learning in class, credit cards can be a big help in getting paid quicker between job instead of waiting the 30 days.
The machine I mentioned yesterday is in Canadian Dollars, I think, not to sure, but I beleive that is around $15,000 U S. Well I also received in the mail a Blast Master magazine, and a Delco Wats Blaster paper, they will be a big help in getting our business going. Since we are on a budget, and later on we can spend more cash getting what we need. To rent a cold water machine is about $750 Canadian, electric hot water is $950 Canadian a month, and the 5 rental places I've called no one seems to have any hot water machines. The prices I've seen for hot water machines in the U S are very reasonable, even getting a trailer mounted machine is still a really good buy. My wife being my only business partner suggests we buy the smaller equipment, and tools from the States, but the machine has to be from here for warranty purposes.
My wife has asked if I am still wanting to do the hard work in cleaning houses and awnings and the such. Well to her I say that being trained in Raleigh, N C this last July, cleaning houses only still leaves me DRIVEN, DETERMINED with a DESIRE to be PASSIONATE in this business, and to hopefully meet some of you all and get some really good information, and help with my questions.
Good thing this is being typed, or I'd talk your ears off lol.

Have a Good Day
Thanks for all your input,
Bill Warren 604 207 8458
(Determination, Desire, Drive)

 

[PressureClean]

CDN to USD is around 48-49% right now, so if an American purchases something in Canada, we generally get about half off anything we buy up north if we spend US Dollars. My wife and I go up to Toronto a lot as it's only about 6 hours from Pittsburgh and the exchange rate is great. The only problem is if you are coming the other way and spending CDN dollars here, then obviously it doesn't make sense.

Even with the exchange rate, you need to talk to some of your counterparts up there before you go and spend the equivalent of $15 grand US for the pressure washer you are describing here or you won't be in business very long. I know there are quite a few companies on some of these boards that are Canadian and they could probably give you some insight into pricing up there.

As for payment, all residential work we do is paid via a 25-50% deposit and remainder upon completion. We got burned once by a customer, once, it will never happen again. Now we use an ironclad contract and if we don't walk off the customers prop with a check or credit card authorization we file a mechanics lien on their property the next day and subsequently file suit after one letter from our attorney. May seem harsh, but we've never had a problem getting paid since that one time... If it's a credit card job, we place a hold on the customers card for the total job the day before we show up for the scheduled job to start and then we run the regular charge after it's completed. Just keep in mind that your customer agreed to pay for the job once it was completed, don't let anybody play games when it comes to paying you. Billing customers is also a very bad idea, you don't know what they are like or whether they even pay their bills. This is just for resi work, commercial is a different story.