I do have a policy set out in my booth – because of some of the customised items that I sell – work cannot start until at least 50% of the price is paid – but other than that – I try and be as flexible as possible -and work with the customer on a budget and arrangement that suits their individual needs.

I have a couple using my system at the moment – though not through Bonanza – and it helps them gain gifts that they might need a little extra time to pay for.

It is a win win for everyone.

You would be wise to get a deposit and a plan for payment. As you know some buyers have been known to bid on items and then not pay, this could happen on a lay-a-way.
When I had my store I had a few lay-a-ways that never picked them up, even when they had left a deposit.
Lay-a-way is a good idea for buyers who would like to start shopping Early, more sales for you, but you have to be business like and protect yourself.

If I offered lay away I would ask for a deposit on the item first. Many people never go through with sales so you need to protect yourself. Also, if using lay away at a store, they ask for money to put it on lay away so why shouldn’t you?

I offer Layaway, I just don’t ADVERTISE it, maybe I should go back to advertising it? I don’t ask for a deposit, I simply give them a MONTH to pay it down or to pay in full by the end of that month. However, I actually suggest you DO ask for a Deposit, it seems to me if one is Sincere enough to put a downpayment down, they ought to be accountable to Follow Through. I Also usually make it Very Clear, I’m not In Charge of Reminding them to Pay, they are, and I Would Simply Encourage them to Bookmark, as well as Keep, Perhaps, a Reminder to themselves, as a Sticky Note or Text File, on their own Computers Desktop. Good Luck! Dee

Definitely require a deposit. Of probably at least twenty percent.

I have a Layaway Plan because of some of the more expensive items. I won’t put a dollar amount to use this either. I search the others on Bonanza their layaway plan and did some minor adjustments. I do ask a 10% deposit as their first payment.

See my [URL removed] policequilts Item as Layaway Plan and I decided to copy it in the booth detail area also.

I offer layaway and require a downpayment. Operate your layaway just like the stores do. Have a very thorough detailed plan laid out that the buyer must sign to protect yourself and them. You can check mine out located in the freebies in my booth.

what a great idea! I would ask for 1/3 down if the price is high and then set a payment plan up or pay by date, with a non-refundable deposit (the 1/3 down or whatever is agreed upon)