Sales Tip: Setting up payment terms

Feb. 27, 2015
Train the customer on how, when and why payments should be made.

When Mac Tools distributor Stacey Bleile takes on a new customer, he makes sure to train the customer on how, when and why payments should be made.

“I’ll tell them what I expect, I’ll shake their hand and explain this is how I like to do my payments,” he says.

He also determines when each independent shop or dealership has a payday, so he can expect payments during those weeks. Bleile provides flexibility on payments if necessary, only after he has an established relationship with a customer.

Many of his customers cut a check weekly, during payday or pay off the balance completely once it reaches a certain amount. He allows the option of paying by cash, check or credit, and never keeps credit card numbers on file. He’ll receive the card from the customer for a separate transaction every time.

“A lot of guys live paycheck to paycheck, so they don’t have a lot of money. They all want to pay me every payday, which is fine.”

With this payment plan structure in place, Bleile consistently maintains an average below five-week turns.

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