I've approached a local BM to apply for a trade account. I'm not a trader but I want to make out that I run a very small business. They want me to call them back on Monday so they can go through some details. I want to be ready for their questions - does anyone know the sort of things they might ask?
My local BM didn't care that I was not a trader. The fact that I was renovating a house in the town was enough.
Mike
At a guess, a VAT number?
They may ask for references from your other suppliers. Bank details,as in business account. Vat number.
I would have thought that most small handymen didn't bother with the aggro of registering (and probably actually see this as an advantage)
tim
So how does one get one's first supplier.
I can supply this, bit I'm not someone who qualifies for a trade account
tim
Name and address. Nature of business. Business Card. Printed Letterhead. Bank account details. Some are stricter than others. One Builders Merchant wanted a photocopy of my Passport. Having a Trade Account does not always give you the cheapest price if it is that that you are after. Alan.
IME the most important question is usually anticipated monthly spend. In some cases I have been given a trade account simply because I bought enough regularly on my company credit card. However, if you are applying for a credit account, they will probably want a couple of trade references and a copy of your business letterhead. I've never had to do it by phone though. Usually getting a trade account either involves asking for one at the trade counter and being given it or filling in a form they give you when you ask for the account at the trade counter.
Colin Bignell
Trade by cash or credit card until you have built up a trading history is the usual route.
Colin Bignell
Too bloody right.
Tell them that you don't want a credit account and like to pay as you go and then they (usually) don't want bank details or references.
Tell them that you are doing property maintenance and need all sorts of bits and pieces depending on the job you want.
Normally they are keen for business and give you a trade discount card.
Good Luck
Bob
Tell em you currently use B&Q/Screwedfix, that should encourage them to sign you up :)
Mostly for a new start up they want to know if you are good for the money to pay them
I only have one trade account with an independent BM, where I get my decking timber.
I'd been a cash customer for a while & I simply wrote to them explaining that I had no references. They gave me an account with a lowish limit at first, but having seen my payment history they have increased it.
That is the sole reason I opened my account. The branch manager told me he could give me better prices with a credit account than he could as a cash buyer. Daft or what? My invoices now show between 10 and 33% discount depending on the product. When I need a large quantity of anything I ask for a quote, and often get better still.
Mike
I doubt it. Most jobbing builders are not registered.
Ditto. I just said 'I am building a house. I will be spending obscene amounts of money: Can I have an account"
That, and turnover.
It costs them a bit to run a trade account, it costs a lot to chase up debts.
So they will want to know that you will be using them a lot, and that your bank account is good. That's all. They may want references from other accounts you have, to further establish you wont run up a huge debt and vanish.
Understand their position, be frank, and reassure them. I've been on the other side of this, as well.
We have a genuine reason to have one but thus far haven't bothered for the amount we use, but it seems to me that they want anyone they can get nowadays who's credit worthy and thats prolly the only reason they want to check you out...
In fact nowadays paying for what we need with a debit card I can and do haggle a bit and it works quite well, whereas before with the tick account didn't do that ..
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