Re: [spiers] Credit Check
Does anyone have advice on how exactly you check a customer's (Net
30 terms) credit? We have credit reference sheets with
bank/reference contact info but not sure exactly which of them we
call and what to ask specifically? What is standard for checking a
new customers credit?
I spent 2 years checking credit way back when working my way up in an import
company. It is an art ini its own right... your job is to avoid 2nd rate
customers. Not everyone who orders from you will be a good customer. maybe 10%
you should not ship to.
The reference sheets i am guessing your reps have, unless you made them up
yourselves. the sheets have all the custoemrs relevent info, plus bank
references, and then references of otehr companies that are in effect your
competitiors.
competitors are your best source of credit check info.
Do NOT check Dun &Bradstreet...most of your customers will be small biz and D&B
is useless for these stores.
Do NOT check bank references...banks either don't reply or don't give usefu8l
information (take the custoemrs bank reference, if only because you'll have to
explain why not if you don't)
that leaves the names of other companies like yours the customer buys from.
never call or email...
the best way is a note with a self addressed stamped envelope identifying
yourself, stating that the custoemr used this company as a reference, and you'd
like 3 bits of info:
1. how long has the customer been a customer of the competitor?
2. How long does it take for the custoemr to pay?
3. What is the credit limit on the customer.
usually people ask for 3 references, I ask for five.sometimes the custoemr will
check moff a dozen names oon the reference sheet, i'd check about 8.
of the 5 you send out, you are lucky to get 3 replies in a timely manner. With
those replies, you make a decision.
never go COD, ever.
Take credit card payments if you can.
if credit is iffy, ask for prepayment, the custoemr will say no, and that is
good. You avoided an iffy customer.
This is a key area, just be cold blooded, and expect to lose some of those
orders.
John
Saturday, July 31, 2004
Credit Check
Friday, July 30, 2004
Credit Check
Re: [spiers] Credit Check
This is in response to Paul at Anzen Markets LLC. regarding Credit Checks.
Our company is a commercial credit reporting agency and have been in business
for 24 years. We "clear" credit applications on stores in the U.S., Canada
and the Carribean area. We verify both banking and vendor references and
provide to our client a suggested term of sale (i.e. Net 30 - COD - etc) as well
as
a Credit Limit for that retail outlet or chain.
Depending on response time from the vendors, it usually takes 3-5 buhttp://www.blogger.com/post-create.g?blogID=878781244953948813#siness
days for us to notify you. Fee for this service is $ 17.00 per Credit
Application.
We bill you by Credit Card at the time the information is given to you and
there is no mininum requirement.
If interested, please contact me at Maldana@aol.com and we can discuss
further. If you prefer, you may call me at 888-256-2726.
Thank you.
Mario Aldana
Almar Company
President
Credit Check
Hi John and Group,
Does anyone have advice on how exactly you check a customer's (Net
30 terms) credit? We have credit reference sheets with
bank/reference contact info but not sure exactly which of them we
call and what to ask specifically? What is standard for checking a
new customers credit?
Thank you,
Paul
Anzen Markets LLC
www.whynotbe.com
Monday, July 26, 2004
sales reps
Re: [spiers] sales reps
In a message dated 7/26/04 7:54:18 AM, g.paulazzo@comcast.net writes:
<
associated with them?>>
Excellent..where you want to be!
I believe reps are critical to your success:
1. The have relationships with the best retailers
2. They filter feedback on products so you get actionable biz info.
3. They free your time so you can focus on what makes you money: product and
supply and market (market, vs sales)
4. They are a wise source of counsel.
There is a chapter in the course text devoted to reps, and points to discuss
in an agreement ... if you don't have this let me know.
I'd have each give you five names of retailers the reps claim love the
reps... and confirm with the retailers that the reps are well loved. You pay
the
reps, but the reps work for the retailers... only retailers have a useful
opinion as to a rep's effectiveness.
In gift and housewars we pay the reps 15% of wholesale, in garments it is I
beleive 8%... so you'll have to research your industry to find the norm.
John
sales reps
Hello John,
We have been approached by several sales reps that are interested in our
line. Can you please tell me how reps usually work and any pros/cons
associated with them?
Thank you,
Gary