Credit where credit is due

[Coin Operated Group]

Just to back us up as to why we don't offer credit... Is because all companies that offer credit need to get it insured. Also if you pay by credit card it gives you 30 credit. So can't see what the point is asking a customer for a large amount of stock for few machines as stock will be sitting there running out of date.

Where is it stipulated you must have insurance to offer credit terms? never heard of that before?

[glennborthwick]

i dont think you legally have to but its an option. Depends how much bad debt you want to take the risk of getting.

[Coin Operated Group]

Thats what I thought, it was optional and down to the supplier to build up some history with there customers to make an informed decision as to offering credit terms or not.

[Vendingwarehouse]

Yes but if tubz vending offered credit, how many people would renege when they found they were getting screwed. THAT'S why tubz vending don't offer credit.

[Paul@HurleysFoods]

I can see the logic and advantages in that. Any damages we get, well 95% of them anywy, comes from parcel carriers. Any pallet damages are minimal and pallet carriers seem easier to deal with when it comes to problems of damages. I find that its not so much the cash flow issue but more the chasing up of people to pay their bills that causes the grief. We have been knocked a few times in a small way and I guess its just a question of being careful who you give credit to. I wouldnt have thought anyone would want to stock more than a months worth of product and as such would be reordering a month later and would clear their account before they re ordered the next months worth.
Will think about this a bit more.....

[glennborthwick]

it does help if you meet and get to know the operators.

[Rossi fan]

Hi Paul,

Personally, I think it is a great for someone who is starting and growing their towers. However, I think when an operator reaches the point where they are using half a pallet a month, they should not need the additional support and purchase the full order on their card.

Thanks,

Paul

[Snackmore]

Just to back us up as to why we don't offer credit... Is because all companies that offer credit need to get it insured. Also if you pay by credit card it gives you 30 credit. So can't see what the point is asking a customer for a large amount of stock for few machines as stock will be sitting there running out of date.

Kris do you think I am stupid and would order stock that will sit there and go out of date

Hurleys know how often I have ordered previously and when I use the stock up so they have a rough idea when they will be paid. Also there stock has BB dates over a year in advance, I seem to remember that tubz vending were sending out stock with only 5 months BB date on but maybe thats OK for them to do they are after all as it states on their website "We are the leading company in vending machine franchises and specialize in helping business start ups"

As for 30days credit why not our suppliers are afforded this luxury from their suppliers why should we have to rely on credit cards?

[kris@tubzbrandsltd]

Chaps i think once again my post has been taken differently to what i had intended. I was making the post as people had asked if tubz vending were offering the same credit situation.

I have since checked with the powers that be and we do in fact have a facility set-up to offer customers 30 days credit if we can gain a credit facility and insurance after credit checks. As im sure you can appreciate in the current climate it would not make financial sense to offer people / companies credit without making sure the above is in place otherwise any business would be putting everything at risk which would be at the detriment to all their other customers. Most of our corporate accounts are using this facility.

It is also worth pointing out that whenever a customer pays with a credit card the suppler is in fact being charged a much higher % than if paid with a debit card.


Happy vending

[Coin Operated Group]

Easiest way is to not hijack other suppliers threads and just stick to posting what you CAN do for your customers, not what you cant.