An Idea to land work

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WinZip

Senior Member
I just read the whole thread on ( Employed by Orange or Blue ) an It's sad to here so many are losing it or out of work but maybe there is a way out.

This has happen to me many times in the past , a home owner calling for pricing on rewire - service up grades - garage or room additions - lighting or what ever, and when they would read the bid estimate some would say I would love for you to do the job for us but we had no idea it would cost this much an most had 2-3 estimates.

This is what happened I had given an estimate of around 1800.00 to an elderly man on limited Income and a few day's had gone by and he called me saying that he would like us to do this work but he did not have the complete funds to pay all at once and asked if he could do a payment plan , I felt bad for this man do to his problem of age an limited income so I said by all means yes we can work this out.

I met with him that afternoon he accepted 1/3 rd down an the balance in 4 equal payments he was tickled pink an told his neighbors an friends what a wonderful EC he had met and what I did for him and we did get quite a few more calls from people that he told this to.

It might be tough to do at first but the steady monthly checks that come in make it all worth wild an you are helping people with little or not much money to work with.

Again just putting Ideas out there , try it.
 

LawnGuyLandSparky

Senior Member
Now you're turning electrical contractors into finance companies. Talk to some GCs or home improvement companies about this first- some of them earn a higher income selling the home improvement loans than actually doing the home improvement.
 

480sparky

Senior Member
Location
Iowegia
No need for you to become a finance company. Partner up with a real loan outfit, sell them the account, and move on to the next customer.
 

stevenj76

Senior Member
This is how people buy used cars.

My friends dad is a scumbag used car saleslot owner. He's rich as a mofo. He makes all his dough off the loan, not sale price of the car.

An architect friend of mine who used to be a remodeler GC told me that if you give people a down payment and then a weekly payment, that they like it and want to work with it. He said if the payment doesn't come in, he stopped work immediately, and the whole arrangment is structured to keep him ahead on the deal.

I think EC's should have been into financing long ago...
 

WinZip

Senior Member
It was only a thought of how to maybe get the job that you might not get after the bid has been presented to the customer.
 

rt66electric

Senior Member
Location
Oklahoma
poor people usually pay

poor people usually pay

I've had more problems getting paid from "rich people" who are doing a unnessary add-on or remodel, as opposed to "normal poor people" who have to have a necessary repair done. My SLUMLORD brother-in-law would rent to the folks that would say " I can pay you two weeks from now, after pay-day" as opposed to the punk couple that had a $1000 in hand. His reasoning was that some relative gave the punk couple money to get them out of their house.
 

mcclary's electrical

Senior Member
Location
VA
I just read the whole thread on ( Employed by Orange or Blue ) an It's sad to here so many are losing it or out of work but maybe there is a way out.

This has happen to me many times in the past , a home owner calling for pricing on rewire - service up grades - garage or room additions - lighting or what ever, and when they would read the bid estimate some would say I would love for you to do the job for us but we had no idea it would cost this much an most had 2-3 estimates.

This is what happened I had given an estimate of around 1800.00 to an elderly man on limited Income and a few day's had gone by and he called me saying that he would like us to do this work but he did not have the complete funds to pay all at once and asked if he could do a payment plan , I felt bad for this man do to his problem of age an limited income so I said by all means yes we can work this out.

I met with him that afternoon he accepted 1/3 rd down an the balance in 4 equal payments he was tickled pink an told his neighbors an friends what a wonderful EC he had met and what I did for him and we did get quite a few more calls from people that he told this to.

It might be tough to do at first but the steady monthly checks that come in make it all worth wild an you are helping people with little or not much money to work with.

Again just putting Ideas out there , try it.


Ther are plenty of companies that will fund your customers as long as your licensed and legal. Leave the lending to them
 

360Youth

Senior Member
Location
Newport, NC
This would not be a good idea as a regular practice, but I commend you for nailing down the job, but also for recognizing your customers circumstances and assisting the elderly in more than just electrical. Maybe one day you will be the one needing someone to look out for you. Good job.
 

WinZip

Senior Member
This would not be a good idea as a regular practice, but I commend you for nailing down the job, but also for recognizing your customers circumstances and assisting the elderly in more than just electrical. Maybe one day you will be the one needing someone to look out for you. Good job.

Imagine an elderly person or any other person getting drilled by some fast talking fiance guy , my way works for me.
 

cowboyjwc

Moderator
Staff member
Location
Simi Valley, CA
Imagine an elderly person or any other person getting drilled by some fast talking fiance guy , my way works for me.

Yeah sell it to a finance company and your $1800 service change becomes a $2800 service change and if he couldn't afford the $1800.......:roll:. I think you did a good and decent thing.

I always joke when I make speechs for the Historical Society or our Little League, "remember that we are a nonprofit orginization, we didn't intend to be, but that's Just the way things are working out.":grin:
 

satcom

Senior Member
Imagine an elderly person or any other person getting drilled by some fast talking fiance guy , my way works for me.

When your in business, and that business has to provide an income for your family, you will soon discover you can not cure the world problems or help everyone you think needs help without sinking your own ship, helping is nice if you can afford it, and most decent people try to help those in need, but it is hard to really know who is in need, just because the gent is old, does not make him poor, a good percent of the elderly today, have most of the wealth, just sit back and think, will his utility company give him a break, will the tax collector give him a break, will his insurance company, give him a break, can he go to the market for his food shopping and get a payment plan, No, because they are in business and not a charity.
 

WinZip

Senior Member
Satcom,

To each his own , it can be a shot at work or maybe no work.but I do understand where your coming from.
 

satcom

Senior Member
Satcom,

To each his own , it can be a shot at work or maybe no work.but I do understand where your coming from.

And if your not paid for that work, you end up loosing income needed for your family, over the years we had plenty of EC's that followed that path, and none of them are still in business, they had to work for someone else, they just din't have, what it took to ask to get paid, and extended credit to anyone and everyone that asked. Giving is a wonderful thing, and this time of the year, reminds us to do just that, but you need something in order to give something, and a strong well established business, can usually give back.
 

LawnGuyLandSparky

Senior Member
I've changed out old fuse panels for the elderly re-using perfectly good 100a circuit breaker panels for free.

"Miss Nanna" was on oxygen an on death's door when the A/C she required and her pressurized bed and just plain old age burned out her 4-circuit fuse panel. (Boiler, Kitchen, Garage, Rest of house.) She didnt have a dime and was ready to pull her own plug. Her kids (one in a Range Rover and another with a BMW) couldn't help they're "stretched too thin..."

Miss Nanna hung in there for 2 more years but left me her Roseville collection which I had mentioned my mother collected (though by the time she passed, my mother had passed also) and her Hummell nativity. Her kids were PISSED.

Business is business but there are other aspects of life that are more important than profit.
 
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