Selling to the big box retailers? Learn how to finance your sales!
Are you selling products or services to the proverbial big box retailers? To companies like Wal-Mart, Costco, Sams Club, Lowes, The Home Depot and others? There are many advantages to selling to these companies. For starters, they have incredible purchasing power and can place large orders. They can truly help your company grow incredibly and take it to the next level.
On the other hand, they also have incredible clout and negotiating power. That means that they can, and often decide to negotiate payment terms to their benefit. It is not uncommon for big box retailers to pay their invoices in 30 to 60 days. This creates two distinct types of problems, depending on your financial situation:
You cant afford to wait to get paid
If your biggest challenge is that you cant wait to get paid by your big box retail clients, the solution may be to factor your invoices. Invoice factoring is a form of financing whereby you sell your invoices to a factoring company who pays you for them. They wait to get paid, while you are paid immediately.
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