Or is it ‘Buyer beware!’
Recently a film manufacturer closed their doors. I have friends and clients who were satisfied customers of this supplier. I think this is a wake-up call for all of us. During tough times we need to ‘inspect what we expect.’ If you are relying on the warranty of a product that is critical to your business success, it’s probably a good idea to confirm on a regular basis the financial strength of that supplier. The products you use in your business are a key factor in the success of your business. Most products come with warranties or guarantees and these can be understood as ‘promises’ to you the buyer. What happens when the manufacturer of that product goes under/closes the doors? Where does that ultimately affect YOU and what type of exposure does that leave YOU?
Our industry is a niche and I personally am aware that several of the smaller players are highly leveraged (they owe a lot of money) which leaves YOU with exposure risk for reliable product and warranties over time. If these companies do not survive and go under like the one that did last month, where does that leave YOU? What is your exposure? This leaves all of their clients helpless and with all the liability of standing behind a product they never even manufactured! Where will you get replacement product for a warrantable issue if this happens to you? If your supplier doesn’t survive, YOU will have exposure to pay for this out of YOUR own pocket. This is why it is critical that you assess the financial strength of any supplier that is key to your business success. Plan to survive. With the challenges in our national economy, your risk is greater. Make sure you understand what that risk is.
The film we distribute is manufactured by Avery Dennison, a multi-billion dollar company and a member of the Fortune 500 companies. I think the odds are much in favor of this company surviving the downturn in the economy. If you’re not doing business with PRO-TECT Film, it’s time to make the change and align yourself with a company that can help grow your business.
Michael Mayall
PRO-TECT Film Distributing, Inc.
mike@pro-tectfilm.com
