Bruce Holsinger, a MAC franchisee in the Cincinnati area, knows it's important to watch for the red lights that a customer is likely to fall behind, and to keep them in check before they are seriously delinquent. "He'll start to dial back his payment," says Holsinger. "When a customer says 'I'll...
Welcome! This content is housed in a special section of our website designed for mobile tool distributors selling tools and equipment into the automotive aftermarket.
Articles written for mobile distributors are now only accessible with a unique login, to ensure this information stays exclusive to the mobile distributor community and isn't available to the public.
By registering to access this special section, you get full access to all of the content in VehicleServicePros.com magazine, along with exclusive online content that gives you an inside scoop on hot new products, exclusive stories, sales tips, technical information and more!
You will also need to be a qualified subscriber of VehicleServicePros.com to gain access. Subscribe to VehicleServicePros.com now or have your subscription ID ready.
It only takes a few minutes to register and verify your credentials. Register only once and simply use your login information when you return.
Login now to access exclusive content and learn more about how to make your mobile tool distribution business more efficient and profitable!
Bruce Holsinger, a MAC franchisee in the Cincinnati area, knows it's important to watch for the red lights that a customer is likely to fall behind, and to keep them in check before they are seriously delinquent.
"He'll start to dial back his payment," says Holsinger. "When a customer says 'I'll be $10 short this week,' you've got to be sure they know you expect that $10 next week. Otherwise, you're leaving the door open to more weeks when he'll be $10 or even $20 behind. Once a customer begins to fall too far behind, it becomes next to impossible for them to catch up. He could end up more than just behind on payments, he could start avoiding you altogether."
One way to avoid letting a customer stretch his payments too far is to ask him what he wants to "pay today." Often a guy will offer you a larger down payment than you would suggest. Some will even pay for the entire purchase that day. He may have $50 burning a hole in his pocket. If you don't ask open-ended questions and let your customers make the first offer, you could be creating your own problem.
Have a sales strategy or helpful hint you'd like to share? Send your "30-second sales seminar" to email@example.com, and see your suggestion featured here!
Interest-free loans require references...