Gift certificates

T

tooklean

New member
I most recently sold a few gift certificates that folks wanted as presents for loved ones. here is my question do you guys ever put an experation date on the certificate. please share.
 
Yes I do put an expiration on them. Do I honor them if they are expired, probably yes. I know some poeple who have one that is over a year expired. Once I go to school I think it will be totally expired.

Greg
 
I'm not sure of your local laws, I've been advised though that in my area "gift certificates" that have been paid in advance legaly do not expire (whether or not there is a date upon them). Items that were given-away, donated, or raffled off and those that are promotional may however expire.
 
dr_detail said:
I'm not sure of your local laws, I've been advised though that in my area "gift certificates" that have been paid in advance legaly do not expire (whether or not there is a date upon them). Items that were given-away, donated, or raffled off and those that are promotional may however expire.
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Yup there is no expiration date in NH for gift certificates- you should probably check that out before you reject someone with an expired one and get problems from them
 
I sell Gift Certificate now and then throughout the year. Around Christmas though I have sold a lot of them in the past. Some years over $1000 in washes. In the past I used the money to help me through the rough spots in winter. This year I don't need the help so doubt I'll be selling them. I usually date them for one year as they are for a specific service not dollar amount. I will accept them past the expiration within reason. I've never had a problem with one coming in too far beyond the date. I have always printed my own and sign and number them with a record of information. I've only had one pro blem in 15 years and that was last year. I donated one to a fund raising auction. A really nice doctor turned it in months later. I stuffed it in my pocket and drove off. Come to find out it was a copy of the original. This bothered me a little but I decided not to worry until something more happened. Months later someone called to redeem the original. I informed them of what had happened. They said they knew the organizer and would contact them and call me back. Never heard back from them lol. The certificate was expired by a few days and I would have still accepted it and done the work. It was all kind of weird.
 
I date my Gift Certificates to expire in 6 months. Most of ours are sold around Christmas and redeemed in May or June (when business is doing well).
That way the 'free' work I'm doing doesn't hurt me when the GC is redeemed.

However, I recently made a HUGE mistake. I traded 5 Truck/SUV details and 1 RV detail to the local radio station for their auction. They gave me $2000 worth of advertising for it. The ad produced 0 tangible sales. Now, I've spent the last week working on these vehicles and getting $0.

Just don't do what I did. :wall
 
mperozzo said:
I date my Gift Certificates to expire in 6 months. Most of ours are sold around Christmas and redeemed in May or June (when business is doing well).
That way the 'free' work I'm doing doesn't hurt me when the GC is redeemed.
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Think of it as "pre-paid" work and you'll feel a lot better about it . . . because that's what it really is anyway.

Selling gift certs is a great thing. When I had a detailing business I can't tell you how many GCs I sold which were NEVER cashed in. It's free money if they're not used.

Any detailer on this site who doesn't sell GCs is IMO short changing themselves. Not only do you get the money up front, but as I mentioned a certain percentage of them will never be used. As far as why getting the money up front is so great, well that's simple Economics 101. The time value of money states that $1 now is worth more than $1 three months from now.

My friend once did some research on opening a car wash and I can tell you one of the biggest profit centers for car washes is the wash book. A coupon book of xxxx number of pre-paid wash coupons. An extremely low number of these coupons are used by the end of the year if ever at all.
 
dr_detail said:
I'm not sure of your local laws, I've been advised though that in my area "gift certificates" that have been paid in advance legaly do not expire (whether or not there is a date upon them). Items that were given-away, donated, or raffled off and those that are promotional may however expire.
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Thats the rule here in Connecticut too.
 
thats the one thing I have learned, NEVER trade somthing for a detail. Last year my boss traded a boat buffing for pizza. One thing is the guys at the pizza place never knew that the owner had a deal with him, and he never actually ate all of what the detail was worth. Just get the money, and you can buy whatever they want to trade you.
 
MrRogue said:
thats the one thing I have learned, NEVER trade somthing for a detail. Last year my boss traded a boat buffing for pizza. One thing is the guys at the pizza place never knew that the owner had a deal with him, and he never actually ate all of what the detail was worth. Just get the money, and you can buy whatever they want to trade you.
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It depends on what you trade/barter for.
I had vinyl done on my trailer for a carwash and wax...no detail at all...and no inside work.
 
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