Posted by Laura Richardson on 4/16/12 1:03pm
Msg #418011

Prepayments

I am contemplating starting back up with signings to earn a little extra cash (this is not my normal job) and have a question. When I used to do this, it became evident that I had to fight for payment after the signing had been completed. My last signing (which is basicaly the reason I haven't done these for a while) wasn't paid until a year after the signing actually occurred. Recently, I check this forum when I get calls and if there is any negative history, I don't do it. Which is basically all of them. So, my question: Can we demand prepayment via direct deposit before the signing?

Reply by JPH13/MO on 4/16/12 1:07pm
Msg #418012

You can always try, but most if not all companies will refuse to do so. If the company is a good one you don't need to worry about getting paid, and if it is a bad one you will be helping keep them in business if they agree to prepay and you work for them. There are many good companies out there, look for 4-5 star ratings with remarks mentioning quick pay, and sign up with them.

Reply by Dorothy_MI on 4/16/12 2:30pm
Msg #418022

It absolutely boggles my mind

how many of these post we get on here. And it seems as if the vast, vast majority of them are from people who are looking to "make some extra cash".

Approach this as a business and make a business plan. EVERY business has to plan for and compensate for "bad debt". That does not mean that I don't want to get paid, because I do and everyone who completes a job should also be paid and hopefully in a timely manner. My business plan may be different than yours. We each have to do what works for us. But never forget, this is a business, and needs to be approached as a business. It is not a guaranteed part time job!

Accounts receivable are a fact of life for almost every business and the time frame can vary from vendor to vendor.

Reply by Laura Richardson on 4/16/12 3:07pm
Msg #418029

Re: It absolutely boggles my mind

While this response did not answer my question, I feel compelled to respond. The vast, vast majority of us probably have stable, daily jobs (I am a paralegal) that generate guaranteed monthly income. Speaking personally, I can't afford to approach notary signings as a "business" and don't have time to "make a business plan". What I intend to do, IF I take on any signings is make some extra cash. That is all I can do with this kind of work, in the town I live in. I certainly wouldn't quit my job, "make a business plan", and then rely on this type of income to feed my family. What I will do is take on a couple jobs to earn some extra cash. I just received an email from a company for a refi that they will pay me $65.00 for, but I have to drive 2 hours to get there and 2 hours to get home. That doesn't make sense. I am obviously not taking it as that won't even pay for my gas. I don't see how people can make a living much less "approach this as a business" with that kind of pay. If this is what you do for a living, then great.

Reply by Linda_H/FL on 4/16/12 3:41pm
Msg #418034

Re: It absolutely boggles my mind

" I can't afford to approach notary signings as a "business" and don't have time to "make a business plan"."

Laura, although I can understand what you're saying about having another career and doing signings just supplementing it, this statement you made is a fallacy. If you decide to come back to the signing arena, you ARE a business - it's not your attorney's business, it's YOURS and you have to consider how you want to run that business. And the first thing is a business plan - something as simple as "what do I need to profit from this and what is it going to cost me, therefore what do I need to charge".

That simple...but to say you can't approach it as a business is, IMO, bad business. And if you don't have time to figure out what you need to make and how you're going to make it, then all due respect but we can't help you.

Good Luck to you. And thanks for not taking that $65 job - that's absolutely insane..

Reply by ToniK on 4/16/12 3:43pm
Msg #418035

Re: It absolutely boggles my mind

I dont say much on topics like this but seriously though, people like you who only want to make "extra cash" at this job is the reason why alot of us Full timers are having such an issue. I do this full time and make a great living off it and able to raise 4 children comfortably. But the recreational signers are not taking this business seriously.

But what the poster is trying to say is you need to know your expenses in order to make a profit. If you are just doing this as a part time thing and not really looking at all the cost associated with the job, then in actuality you are wasting your time and not really making any money unless you talking beer money or gas money.

Reply by Laura Richardson on 4/16/12 3:10pm
Msg #418030

Thank you for your response. Your insight is appreciated and well-taken. Have a great day!

Reply by Virginia Notary Services Statewide Service on 4/16/12 3:56pm
Msg #418036

I feel that the people that are contemplating doing signings to earn a little extra cash don't look at signings as a job and thats what is wrong. I spoke with someone the other day and he told me he was doing signings to make beer money for the weekends. That he has a REAL job. He doesn't have time to "make a business plan" either. All he wants to do is take on a couple jobs to earn some extra cash.
Anyone that takes a $65.00 fee for 4 hours drive time should not be in the business.
I feel that anyone that does signings should "approach this as a business".
As to that kind of pay. I did a little over 300 signings last year, its what I do for a living.
I'm happy and doing great... I'm sure Dorothy is too..........

Reply by ToniK on 4/16/12 5:49pm
Msg #418047

Lmao at "real job" if that was the case he wouldn't be looking for a part time to make beer money. Sounds like his "real job" isn't providing disposable income he wishes to have. He should look for a job that pays more.

Reply by NJDiva on 4/16/12 8:36pm
Msg #418062

Thank you for your post Laura.

I can also appreciate the need to supplement your income. I applaud you for knowing that you're worth is far more than the pathetic fees some of these unscrupulous companies are trying to get away with.

Unfortunately, the market has gotten so inundated with inexperienced desperate notaries trying to get established that it is, has and will continue to degrade this industry if we don't stick together and do just what you did. Just SAID NO! Thank you, thank you, thank you.

I have to agree with what was said above in that we don't want to work for nonpaying, thieving companies whether they prepay or not. Our hope is to put them out of business so that their business will be given to a reputable, fair paying company.

This is my full time business. Last year I closed well over 500 signings. But with that said, it took me a number of YEARS to get established!!!!! If you are looking to "break back into the business", please don't delude yourself into thinking this is going to be something that will happen anytime soon, and may very well not happen if you do not have the time to invest in constant marketing. It's hard enough getting established marketing full time. When I say marketing, I don't just mean signing up with companies, you also have to expend money marketing yourself. To just have the basics is not going to cut it. You'll want to consider paying for listings. I might add, the three major sites should suffice.

As you know, you'll also need to get E&O insurance and other notary supplies and now all the companies want a background check too. My question is whether it's really worth it to work this business part time when it can be a bit costly to get started? I don't want an answer, it's really something to ask yourself.

Maybe you'll have to consider another way of supplementing you income until you get some companies under your belt. This way if and when they come, it'll be an extra bonus. If I were you, I would also go to the "Find a Notary" tab and put in your zip to find out how many notaries are in your area. If it is inundated with well established notaries, chances are you're wasting your time and money anyway.

I wish you much luck and success in all you do. As you can see, I have nothing to gain or lose by sharing the above. We are not even remotely close to each other.

Reply by NJDiva on 4/16/12 8:40pm
Msg #418064

Shoot, I knew I should have re-read my post before

posting it! I really am NOT illiterate, but hey we ALL make boo boo's. You know what I mean, please see it as a grammatically incorrect, but sincerely meant response.

Reply by Natacha Joseph on 4/16/12 8:50pm
Msg #418066

Re: Shoot, I knew I should have re-read my post before

It's cool NJDiva. Happens to the best of us :o).

Reply by 101livescan on 4/17/12 9:03am
Msg #418086

I'm dead serious about my business. I loved it enough to take the time to carefully craft a business plan, and a marketing plan.

I abhor people who do this for beer money or extra spening money, they are not committed in the same way that I and others like me are.

There is no way you folks can do a great job at this with your "goal in mind" to get paid in advance for this service, in addition to not being totally committed to this business.

Reply by 101livescan on 4/17/12 8:58am
Msg #418085

Does your employer pay you in advance for your labor? No! Payment in advance? Interesting, I've never been paid in advance for anything. What a concept!

Reply by Barb25 on 4/17/12 9:42am
Msg #418088

Re: Prepayments - I usually don't respond to these posts

because I am not into public floggings and I may live to regret this but...

My first "client" almost 12 years ago used to overnight docs to me along with a check. She eventually had to stop that because the wonderful notaries were not keeping their part of the bargain. It is a double edged sword. When I started I did not have a plan. I was unemployed... End of story. I had a friend who was doing "this." For all I knew at the time a mobile notary got on a bicycle and rode around notarizing things. I was lucky and my first "client" helped me out as did some really nice notaries I met online. Obviously 12 years later this has all changed.

To those of you who planned better fine. To those who do this part-time and it works for you fine for you too. To those of you who now want to criticize me, you're on. It is afterall a free country.

Reply by HARRY_PA on 4/17/12 10:32am
Msg #418091

Brava Barb25 n/m