Dealing with third party payment terms


(Leon Wilding) #1

Hi everyone!

I’m super excited to be a part of the EventTribe community! I am in the process of developing my event planning and organising business. I always have enjoyed people coming together whether it’s personal parties or public music events, any chance to bring people together and have a good time is what I thrive on! I used to be a door supervisor in the security industry and have worked bars, night clubs and events so I have been subjected to the concept of events a lot. I always have had to the drive, determination and passion towards the idea of helping people plan their events and also, organising my own.

I guess I’m looking for help in a range of different fields but one of the most important is in regards to payments and payment terms. I know there are many different ways to charge for services but I’m just finding my feet and trying to figure out the most straight forward and effective way to charge clients.

I’m looking forward to hearing back from both experts and others who are in the same situation as me. I will contribute to this community A LOT!! Hope you all have a fantastic weekend


(Sachin Bhalla) #2

Hi Leon,

Congratulations on getting started in event planning. There are definitely a lot of members of this community who can help you out.

Personally speaking, my startup uses crowdsourcing for your flyers, posters, event designs, etc. As well, if you’re looking to design a logo, you can check us out. We take the money up front and hold it in trust until you get the design/designs that you want. With over 100 graphic designers on our site, and the ability to give feedback to each one, you will likely find something of interest.

All the transactions are done via PayPal, and we don’t hold anyone’s information (aside from email addresses in order to contact them). It is quick, easy, and efficient…and we have yet to receive a complaint (knock on wood).

Hope that helps!

Sachin @promoterGO


(Leon Wilding) #3

Thanks for the reply! and for the congratulations.

I already have a logo designed for my business and the same chap, being that I know him personally, will be my go to person for any future designs of posters, flyers, banners etc. In my original topic, I was researching how other event planners charge.

As I am a new start, if a client approaches me to organise an event for them and require DJ’s, caterers etc. I would be ‘outsourcing’ those vendors. Those vendors each have their own terms of payment eg. deposit and the remainder due 1 week before the event. My question was to find out how, as the event planner, those vendors would be paid.

Quite a complex question I know but any advice would be great!


(Belinda Booker) #4

Hi Leon, I’ve taken the liberty of changing the title of this thread to make it clearer what advice you’re after. Maybe some of our @Top_Members can help out here?


(Leon Wilding) #5

Thank you very much Belinda :slight_smile:

I really appreciate the help. As I am quite to know to forums, the help is great. I see you have mentioned “top members” in your post… does this mean that the thread is now visible to those people?

Thanks again,
Leon.


(Dewi) #6

Hello and welcome.

In the event business it’s important that you suuround yourself with trusted quality partners. Put out tenders for people to work with you and be really clear what are your terms. After the event ask for feedback, even improving the smallest details will make your business better.

Remember to think like them and always remember to plan for the worst.


(Belinda Booker) #7

Yes, it is so hopefully you’ll get some advice. In the meantime you might want to check out this article on cash flow, which details how events agency First Protocol asks clients to pay at least 25% up front and then make staged payments:


There’s also this article about different event planner payment models:

And here’s a thread on how ET members charge clients:


(Leon Wilding) #8

Hi Dewi,

Thank you for the warm welcome, it is greatly appreciated. I am in the process of networking with other businesses who are established and well reviewed to build a professional relationship with them. I am nothing but respectful and also approachable, and will always try to build rapport and approaching them with knowledge I have about their business from conducting market research and product research. I believe in a motto that i have all of my life and that is “teamwork makes the dream work”. Although some businesses in the same field may be considered as “competitors”, I believe that businesses alike working together and helping each other, can only have a positive impact for both parties, after all, there are plenty of customers out there for every business.

Would you agree with this? What are your views? I love to hear about other peoples views, outlooks and experiences.

I look forward to your response.

Best regards,
Leon.
(Mr Venue Pro)


(Leon Wilding) #9

Thanks again Belinda,

I will be sure to take a thorough look over those blogs. After all, knowledge is power :slight_smile: Thank you for the support.

Best regards,
Leon.
(Mr Venue Pro)


(Dewi) #10

As in every other business, find your niche. Don’t be a carbon copy of someone else but improve on their best bits.

I’ve got a job coming up where a competitor and myself are taking on a long term contract. The competitor is taking the lead and between us we’re using our strengths for the contract.