Financing Kilts, What Are Some Options?

[Randy]

Most folks charge something up front for work. How much does your roofer charge just to go buy materials before he starts stripping off the old roof.
Twenty guesses what we are having done next week. Money I could spend at the Virginia Scottish Games next weekend.

[M. A. C. Newsome]

The following is true of kilts ordered through the Scottish Tartans Museum gift shop, as well as through me, personally.

While the customer is fully welcome to pay 100% up front, all that is required is a 50% downpayment. This allows us to secure the cloth and begin work on the kilt. Normally, we'll bill for the other 50% when the kilt is ready to ship. Sometimes we have customers that, after making the 50% deposit, will pay a bit more on it before the kilt is ready. That's fine -- you can pay as you can, so long as the total is paid up before the kilt is delivered. Most people do half up front and half when the kilt ships (usually 2 to 3 months later).

The reasons for the deposit requirement are pretty much what Rocky said. This gives us better security knowing that you will come and pick up the kilt, and if you decide to back out, at least the cloth is paid for and we're not left holding the bag.

You'd be surprised, however, to find out just how many people, in my experience, when given the option to pay either 100% or 50% up front, will go ahead and pay for the whole order.

Aye,
Matt

[michael steinrok]

The easy payment plan is not a bad idea. I have a better one. We nationalize all the kiltmakers and manufacturers and everyone gets kilts for free!

[Southern Breeze]

The easy payment plan is not a bad idea. I have a better one. We nationalize all the kiltmakers and manufacturers and everyone gets kilts for free!

That would work out like this- the higher-ups would get the Tanks and the working class the low end models. Remember how things work under communism?

[Riverkilt]

Thanks Matt,

The intent of my post was to seek "different" financing methods. Each kiltmaker chooses for themselves the terms they wish to offer customers - based on their experience. I understand that.

What I am hoping for is finding out which kiltmakers have come up with something other than the "pay up front and wait" system. I fully understand the reason most kiltmakers chose to use that system and don't blame them...just wondering if there are other ways out there.

Obviously, every kiltmaker is going to attempt to shorten the jones time so they can keep customers happier. Some have more success at that than others.

So far, it looks like Matt Newsome and Kathy Lare are working the two payment system which can be paid off sooner if desired. And, Steve Ashton waits to bill for the kilt until he's ready to cut.

There, that's three kiltmakers using two payment systems different than "pay up front and wait."

Any other creative financing ideas out there? That's all I'm interested in - some new ideas in financing that are mutually beneficial and/or reassuring to both the kiltmaker and their clients.

Thanks,

Ron

[Southern Breeze]

Seeing the info here on the kiltmakers and their financing options may sway someone towards a higher-end kilt. Just a thought.
Thanks for bringing this up.

[RockyR]

Matt... what you described is how we do it in the shop for "walk in" orders... 50% down or full ammt down or anything in between. Online, we have to be a bit more careful as it's "tougher" to collect money from someone in another state than it is to get it from someone local. I'll also echo your comments. more than 2/3 of our customers choose to pay the full amt up front given a choice.

Ron... I do have 1 more "creative" idea. How about the old "Coffee Can Kilt Fund". I did that for the last 2 years. I had a change jar that I always empty my change into. If we pay ourselves in cash, I try to put a few 20's in the can. After a year, you'd be SHOCKED how much money you "didn't know you had". You can then use it to pay for a kilt up front without "missing" the money b/c it wasn't in your bank acct to start with. Anyway... it was just a thought.

[Riverkilt]

Thanks for that coffee can reminder Rocky.

I've been using an old powder holder from a huge copy machine, its about the size of an artillary shell. I put all my coins in there at the end of the day. When its full its always about $150. Painless way to save for kilts. Its bought two for me so far. Never thought of tossing in some 20s though...need them...but I'll think on it.

And, of course conversly, its difficult for a customer to collect their paid for kilt from a non-local kiltmaker. The board abounds with stories.

Might be interesting, on another thread, to hear about all the ways kiltmakers have been stiffed too.

Ron

[RockyR]

I don't think it's too "professional" to dive TOO much into the "here's how we got stiffed" kind of discussion. Needless to say, I don't think I've ever been "stiffed" by someone on XMARKS, but we've had our share of bounced checks (that's why we no longer take checks), kilts on order from RETAILERS who don't pay (why we no longer wholesale our kilts to other retailers EXCEPT 1), kilts made for customers who change their mind, kilts made to fit measurements taken incorrectly by a customer, etc. But I digress...

Yeah, most people need every dime of their paychecks and most people don't get paid in cash (if so, the IRS would LOVE to hear who), but if you cash out your paycheck or hit the MAC machine, try to take out an extra $20 (if you need $50 for an evening, take out $70). Hide it in the coffee can with the change. Check back in 6 months and you'll have a small fortune! I use that money to "treat myself" to something I've wanted... not necessarily a kilt either! I just got a GREAT deal on a new TV and I'm starting the coffee can fund over. Next... maybe a bar in the basement. I'll have 8 months or a year to think about it.

[Southern Breeze]

I'll second the use of a "coffee can fund". I've done it for years and it still amazes me just how much change one can accumulate in just six months time.