Branding companies....just dont!

[visual800]

A few years back I dumped all branding companies and refused to waste my time with them. Trust me, the aggravation you dont put up with is worth the money you "think" you lose. I was contacted by another to remove some T Mobile signage, I was slow so I agreed. I got signed up and more redtape BS and went thru a couple weeks of absolute h@ll on scheduling and communication. I finally go the job done and submitted invoice, come to fine out the pay 60 days after invoice is submitted.....I should have never got involved with this I knew better BUT as always I do stupid things. I should have remembered to old "hold your money forever trick"

So about 70 days later Im emailing the lady checking on invoice and she said send another over....typical! In 3 days they STILL cannot give me an idea of payment. The company is priority inc. If they contact you thru an email just go ahead and respond with I NEED 100% down to start, otherwise delete the email, lol

I have dumped a lot of stress out of my work in the past 5 years.....contactors, bidding wars, branding companies and out of town signshops wanting surveys and quotes. Trust me you wont miss a thing!
It was good money on this project but as usual turns into a corporate redtape sh@tshow filled with unorganization

 

[Gino]

I dropped most of this work many years ago. Started taking some of it on again, since covid hit, as many of the lower end sign shops have closed their doors. They would wait for the money. I agree only after I get their credit card on file and tell them I will run it through immediately after doing the work. Not one company has balked. In fact, our prices have increased and that didn't seem to deter them, either.

 

[Texas_Signmaker]

I'll do Net30 and charge good for it now. Not doing Net60s... I turned one down the other day.

 

[Texas_Signmaker]

Last time I got a Net30 down from Net60... they STILL ended up paying Net60. I had to get nasty with them

 

[Notarealsignguy]

Last time I got a Net30 down from Net60... they STILL ended up paying Net60. I had to get nasty with them

I was going to say the same thing. One of our slow pays said they have a provision for small businesses to setup on Net30 vs Net60 and he got us changed. It still takes them 120 days.
Like offering Net10 1%, they take the 1% and still pay you in 60. Like Burton said, it's kind of funny how flexible they get when they actually need you.

 

[CanuckSigns]

I have 1 customer who I can always tell when they are about to place an order, a cheque for the last one magically shows up a few days before they call with a new order lol.

 

[Texas_Signmaker]

I have 1 customer who I can always tell when they are about to place an order, a cheque for the last one magically shows up a few days before they call with a new order lol.

I think we all have a customer like that!

 

[Z SIGNS]

Go do the work and then sit back and wait to get paid, who knows when, by someone you don't know.
I put an end to that a long time ago. I keep my focus on my work.
Sometimes collecting is harder than the actual work.
I only do it if it's paid in advance.

 

[CanuckSigns]

Go do the work and then sit back and wait to get paid, who knows when, by someone you don't know.
I put an end to that a long time ago. I keep my focus on my work.
Sometimes collecting is harder than the actual work.
I only do it if it's paid in advance.

90% of our clients are on net 30 or net 60 terms with us, and most of my best clients I've never met in person, and I like it that way.
I can count on 1 hand the number of times we've been burned in 28 years, and the few that don't pay, I upload the invoice to a collection company I use, and they bug the crap out of them until they pay, I only have to pay them their 20% cut if they collect the full amount, so that's fine by me.
We would never be able to be where we are if we didn't extend terms, just the way it works when dealing with larger companies.

 

[Ldireprophil]

The days of sending an invoice and waiting on a check died years ago for me. I have a few contractors grandfathered in but they always pay quick. Everyone else pays in full or take your business somewhere else, I’m as busy as I want to be without you.

 

[John Miller]

I do work for several larger companies who would usually pay at 90 or slide to 120. Mind you, I would always get paid but as the saying goes... We like what we do but we can't eat what we do. Last year I started a new policy, we don't bill for any job less than $1000. Nobody balked, turns out they have petty cash credit cards that they fork over.

 

[Eforcer]

A few years back I dumped all branding companies and refused to waste my time with them. Trust me, the aggravation you dont put up with is worth the money you "think" you lose. I was contacted by another to remove some T Mobile signage, I was slow so I agreed. I got signed up and more redtape BS and went thru a couple weeks of absolute h@ll on scheduling and communication. I finally go the job done and submitted invoice, come to fine out the pay 60 days after invoice is submitted.....I should have never got involved with this I knew better BUT as always I do stupid things. I should have remembered to old "hold your money forever trick"

So about 70 days later Im emailing the lady checking on invoice and she said send another over....typical! In 3 days they STILL cannot give me an idea of payment. The company is priority inc. If they contact you thru an email just go ahead and respond with I NEED 100% down to start, otherwise delete the email, lol

I have dumped a lot of stress out of my work in the past 5 years.....contactors, bidding wars, branding companies and out of town signshops wanting surveys and quotes. Trust me you wont miss a thing!
It was good money on this project but as usual turns into a corporate redtape sh@tshow filled with unorganization

I have 2 clients that are 60 day or more. Hospital & a Non profit. They are both with us 12 years. We stopped all other accounts. Payments are in full, 50% down or on pick up. The one thing I learned implementing this process, was knowing that I have money in the bank. I'm more than happy to turn down orders cause someone wants more time to pay. <---If you can't afford to pay for something...DON'T ORDER.

 

[Pauly]

There's a thing called "Trade Credit Insurance"
Where you're insured for customers not paying their accounts.

 

[Eforcer]

There's a thing called "Trade Credit Insurance"
Where you're insured for customers not paying their accounts.

Thanks for that info on trade credit insurance. But I don't want another insurance payment, that when you make a claim they find ways to not pay. : )

 

[Pauly]

Thanks for that info on trade credit insurance. But I don't want another insurance payment, that when you make a claim they find ways to not pay. : )

That's not how it works.
You make a claim, they pay you. They then chase up the company that now owes them. - That is literally the whole point in Trade Credit Insurance.
The insurance company will do whatever it takes to get their money.


If you have issues with your insurance company (any) than you haven't done your due diligence correctly.

 

[Eforcer]

That's not how it works.
You make a claim, they pay you. They then chase up the company that now owes them. - That is literally the whole point in Trade Credit Insurance.
The insurance company will do whatever it takes to get their money.


If you have issues with your insurance company (any) than you haven't done your due diligence correctly.

Recently had water damage and because water came threw front door and not up from the sewer. We were denied our claim.

 

[DAVID MARSHALL]

Consistently the worst payer I've ever had is Coca-Cola. They know what our terms are, they agree to them and then drag out payments for months after that. Now then send me requests for quote and I just email back NO. I don't need their work and it just drives them nuts.

 

[Notarealsignguy]

Booyah! Take that coke!

 

[CanuckSigns]

Consistently the worst payer I've ever had is Coca-Cola. They know what our terms are, they agree to them and then drag out payments for months after that. Now then send me requests for quote and I just email back NO. I don't need their work and it just drives them nuts.

I have the exact same experience with Pepsi, they have yet to pay in less than 6 months.

 

[Notarealsignguy]

We did a wrap removal for our local Pepsi distributor and got paid on the spot. Crappy soda but the money was good.