Just wrapped up a big project and realized my payment schedule was a mess. Client wanted to pay at the end, but I needed cash flow. Ended up with a weird mix of milestones and percentages.
Curious how others handle this. What’s your go-to payment structure for those long, chunky projects?
I split payments into thirds. One-third upfront to cover initial costs and show commitment. Another third at the halfway point. Final third on completion.
This way, I’ve got steady income throughout the project. It also gives the client clear checkpoints. Works well for both sides.
For big jobs, I do 25% upfront, then bill weekly for hours worked. Keeps cash flowing and lets the client see progress. End of the job, I send a final invoice for any remaining balance.
This way, you’re not waiting months to get paid. Client sees what they’re paying for each week. If they start dragging their feet, you can pause work until they catch up on payments.
Been doing it this way for years. Keeps things clear and avoids payment headaches down the road.