$1 Late Fees

[wildandwoolly]

Hey,

Anyone tried lowering their late fees? Any info on how that affected things? I think it would be great for the customers, but I'm worried that it wouldn't be enough of an incentive to get them to return the movies in a timely fashion. Of course, we start calling after 3 days late, so that might get them to return them.

We already offer "Another day, another dollar" where people can add days for $1 up front, but this would eliminate that and make it easier for people to just keep them a couple of extra days.

I think I would keep adult at my regular late fee amount, which is $2 per night, per movie.

Thanks,
Todd/Wild and Woolly Video

[videovault]

Some of us have already done this.

More info here   http://vsc.five-star.com/board/index.php/topic,1622.0.html

Dan

[moviesgamesetc]

I want to revisit this topic as well and get some opinions.
My current late fees are the same as rentals: NR 1 night $3.00; Recent releases - 2 nights $3.00 and catalog 2 nights - $1.50.
I'm thinking of going to $1.00 per night on all the 2 night rentals. Effectively I'll be lowering the recent releases but actually going up on the catalog. My employee says that our customers won't see the increase in the catalog rate but will still see it as a reduction. What do you all think?
Also, I'm borderline on making ends meet now so I'm really concerned that I won't get greater numbers in rentals or new customers (or the return of older ones) to offset the loss of revenue.