FORUM WORKSHOP
Forum Workshop
Collection starts with the sale. Retailers collect tually a business in itself. For a small start-up
all the money when they part with their goods business it makes no sense to be in the “bankunless they have a layaway system, in which ing” business if your capital is limited.
case they collect partial payment to hold the
goods and all the money when the customer re- Collection requires more effort for service-type
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businesses (and suppliers or wholesalers). As
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in my typesetting, Fredʼs printing, and Ednaʼs
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Some large publishing businesses, products were “custom
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retail busi- made” and typically paid for upon completion
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nesses, like and delivery.
car dealers
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Don’t Give Credit Unless
or furniture
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stores, have
You Know You’ll Be Paid
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in-house financing or
THE RULE FOR RETAILERS IS:
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TA
credit plans.
DONʼT LET IT OUT OF THE STORE
But this type
UNTIL IT IS PAID FOR.
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of financing
system is accontinued in next issue ...
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