MUST-know Selling Method

Have you been wondering how to keep your store abreast with the evolving economic situation of your consumers while still peaking on sales?  Earning for an income is a bit difficult as well as saving for the future. People may want to buy goods from you BUT if your products do not fall in the bracket of ‘prime necessities’ – consumers tend to put their buying desire at the back of their budget, maybe waiting for a chance to have an extra to get for example newer mobile phones, laptops, jewelries etc.

Having business these days is taking risk most especially doing business ‘on credit’ terms.  Not all people have credit card (which is a more secure way of entertaining credit on the part of the seller –being backed by issuing banks that fall under Visa or Mastercard Companies).

The market population is consist mostly of the ‘average income earners’ and if they become a businessman’s target – definitely, a HUGE income may be expected. Most of the appliance and jewelries store offer selling on installment basis – with the trouble of hiring credit investigation and collecting agents added cost for salaries, gasoline/transportation and trouble. Why not consider employing LAY-AWAY program.

You may not see at a glance, the earning possibility of keeping items reserved for the Lay-Away customers than selling on cash– what you may not notice is the daily income it will give you once you have a BULK of L-A customers, you can compare it to the sales derived from cash buyers. Since MOST consumers do not have the ability to pay cash right away – and the volume of them can contribute to your bigger amount of sales for the day. You will just be surprised of to count your cash in the drawer.

Your products on display MUST be marked ‘SOLD’ if a customer enter into a contract with you of having the item in Lay-away.

Similarities and Difference of Installment from Lay-way:

- Selling on Installment:

Needs evaluation of the debtor, why? To gauge the ability of the debtor to pay having the item delivered to his address after contract signing and providing down payment.

On the other hand, in a ‘Lay-Away’ method of selling:

The item remains on your custody, in the store so there is no need for CI to know your customer. The customer saves money with you to purchase that particular item.

- Installment:

Obliged a FIXED amount as amortization for the item divided on the agreed term (in month or maybe years) that threatens consumer to deal because of strict compliance to pay that exact amount.


It is advantageous on the part of the buyer because he can give whatever amount he has (may sometimes be BIG or small depending on his current income). However, the seller can put a minimum amount if he wants BUT I do not suggest  it for items below PhP 5,000 or US $ 100.

- Installment:

If in case the debtor fails to pay his balance – you can not re-possess the item anymore and if in case you still can, it will not be that saleable anymore (because of wear and tear whose damage depends on the use of the debtor) to recover for your loss.

There are also this kind of consumers that once they broke the item and not anymore covered by the seller’s warranty – they tend to LOSE INTEREST on PAYING.


The item is protected and UNUSED and it lowers the RISK of contract breach – what happens is that the costumer will have MORE eagerness to fully-paid the item to bring it home.

I hope I have given some good options to try for your business. Thanks for reading. Have a great day. Give it a plus and re-share if you happen to like this idea. Login to your Gmail or other Google accounts to do that.  Here's a link to my other helpful post regarding this.

Reminders For Making Lay-Away Contract
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Family, Daily Living & Style by Angelita Galiza-Madera is licensed under a Creative Commons Attribution 4.0 International License.