posted
So far (knock on wood) this has been a pretty busy year. Looks like things will be solid into December, but I know that January and February tend to drop off. Knowing this in previous years, and also because I had requests from customers, I made up "Gift Certificates" for Main Street Signs.
These can be made out for any amount and are good for one year from the date issued... with my signature. 2 years ago it was not too big of a deal, but last year they really took off and I was able to generate some cash flow as well as keep myself busy in the winter months.
I just thought I'd throw this out there as an idea for YOU. Perhaps you have other methods of increasing business in the down months. I invite you to share some of these thoughts here.
Thanks!!
-------------------- Jeff Vrstal Main Street Signs 157 E. Main Street Evansville, WI 53536 1-608-882-0322 Posts: 670 | From: Evansville, Wisconsin | Registered: Sep 2001
| IP: Logged |
posted
In my past experiences with gift certificates, an expiration date 6 months (or less) from the date of purchase is the way to go.
Most people wait til their certificates are ready to expire before they use them, so you are left with a flood of people coming in with their certificates instead of money, at the time of year you need it most.
It's definitely a good way to generate immeiate cashflow, however you have to be disciplined to not blow that money cause you will eventually need it to restock materials.
-------------------- "If I share all my wisdom I won't have any left for myself."
Mike Pipes stickerpimp.com Lake Havasu, AZ mike@stickerpimp.com Posts: 8746 | From: Lake Havasu, AZ USA | Registered: Jun 2000
| IP: Logged |
posted
Hi Jeff, I offer gift certificates, They're not a big seller (I don't push them much), but I've had some strange outcomes from the few I've sold. On two occasions the certificates were purchased for a specific sign that the recipients never claimed. That's cool, I could sell those all day long!
I'm dealing with one currently that a solid client of mine gave as a gift, where the amount or type of sign is unspecified. I'm to bill my client for whatever the recipient wants. (it'll be used for an address sign of some sort). I'd have to call this a "slow" gift certificate, as I didn't get paid up front and will most likely end up getting paid COD or later. I don't think I will do any more like that, and I wouldn't have done this one if I didn't know and trust the buyer completely. It'll all work out, but...
My current policy is prepaid only - for either a specific sign or a specific dollar amount. I hadn't thought about a time limit yet. Actually, if a dollar-amount certificate turned up years later, it would be worth much less than when it was purchased due to inflation. My only other policy is if the gift recipient declines the gertificate they can turn it in for face value less 10% for the handling (or $20 whichever is greater). I made that policy to allay possible fears about the cert never getting used.
SONGPAINTER Original Sign Music by Sign People NOW AVAILABLE on CD and the proceeds go to Letterville's favorite charity! Click Here for Sound Clips! Posts: 1974 | From: Orleans, MA, Cape Cod, USA | Registered: Nov 1998
| IP: Logged |
Printer-friendly view of this topic