October 25, 2024
This information is relatable to every small business in the forklift repair industry or any small business with forklifts requiring maintenance and repairs.
Pictured is rare copy of a legitimate CORPORATE invoice provided to BFR for a customer discount. 😉
Corporate America screams G.R.E.E.D and the small business society is here to capitalize on their loss of morality. We will not speak the company name but the fact is that this corporation had a $1.4 BILLION revenue in 2023.
Let’s highlight some huge red 🚩flags in this document:
- 🚩❌ Total Labor Charges: $364 for changing oil and an oil filter and using brake cleaner to clean up plus grease a few fittings. 😳 For the parts listed, this job should take under an hour so this customer paid $364/hour plus the cost of parts.
- 🚩❌ “Terms of payment: Due upon receipt” You would think that a billion dollar revenue company would not have to use these payment terms. Net 30/60/90 terms are more corporate appropriate.
- 🚩❌ “No cash discounts”. - Cash can help grow a business at a faster pace while saving on administrative expenses. Plus, it’s LEGAL in all 50 states!
- 🚩❌ The fine print: “All past due amounts will be assessed a finance charge at the highest lawful rate. In case suit is necessary for collection, buyer agrees to pay all cost, including reasonable attorney's fees. ” - these details simply spell G.R.E.E.D.
- 🚩❌ Fine print: “Prices subject to change without notice.” - What a SCAM!
- 🚩❌ Fine print: “Do not return parts for credit without prior approval of Parts Manager. A 15% handling/restocking charge will be applied on returned merchandise.” - Corporate mentality is to charge a fee to take 5 steps and put an item back on the shelf because you caused them a simple inconvenience. 🤡
Why You Should Support Small Business (BFR Specifically) Practices Instead:
- ✅ You are trusting a carefully organized sustainable team working together that share a same purpose
- ✅ Labor charges slashed at nearly 40% or more!
- ✅ Terms of payment are the same: “Upon Receipt” except with an negotiable agreement when necessary
- ✅ Cash discounts create customer satisfaction
- ✅ Fine print does NOT threaten legal action for nonpayment. Always set clear payment expectations from the beginning to avoid nonpayment. The good news: bad business debts are fully deductible set by the Internal Revenue Service (IRS). Simply keep your business moving forward when dealing with unethical customers by never wasting time on the past.
- ✅ Prices will NEVER be “subject to change without notice”. Customer will ALWAYS know the estimated amount that is intended to be charged, but sometimes unknown problems do occur but still never expect an excessive increase on the invoice without prior approval.
- ✅ NO handling/restocking fee for returning/exchanging parts. Receive a FULL refund or bring part by office for an exchange.
Small business America has far outweighed corporations on positive effects such as:
- Community support: Small businesses support local charities and sponsor community events.
- Flexibility: Small businesses can adapt to changes in the external environment more quickly than larger corporations.
- Profitability: In 2022, more than 65% of small businesses reported being profitable.
- Control: Small business owners can be involved in all aspects of the business, from concept to customer response.
- Expertise: Small businesses are often focused on a specific skill set, which can make them the go-to person for that service.