Rent-To-Own Financing for Musical Instruments
Are you a music store owner with rent to own receivables? Do you need additional capital to meet current expenses, expand or purchase additional inventory? Did you know that it is possible to turn your rent-to-own receivables into cash?
Access Funding Center, Inc. provides a consulting service that will put you in a direct working relationship with a funding source who will turn your rent to own musical instrument contracts or receivables into cash . . . Immediately!
HOW IT WORKS
On previous season’s accounts you would receive 35-50% of the account balances. On brand new accounts you would receive the equivalent of a full season’s payments-25-30%.
A reserve account would be established for returns. Your reserve trend would be determined after a grace period. You would then be funded monthly on your return rate. All of the maintenance and repair fees which you typically charge would be returned to you on a monthly basis.
Depending on your customer fee structure and the terms of the contract, your cost would be between 7.5% and 15%. There would be no set-up cost to you, the music store owner.
Relevant to customer billing, each of your customers would receive a monthly statement in your store’s name. This actually insures better payment results than coupon books. Return mail provides an early alert to possible skips. Also monthly statements provide an important marketing tool for your store because custom advertising can be done on the statements. Also insert flyers can be enclosed with the statements to announce special promotions for your store. All of this helps increase your profitability.
In terms of payment options, customers have the option of making payments by credit card, check or automatic debit. As a store owner, you also have the option of having late payments automatically charged to your customer’s credit card. If you like, you could also opt to have the customer make payments directly to you, which you could then forward to the funding source.
Collections is by far the most important element of a truly successful rental program. The funding source would be completely responsible for the collections of the accounts after having purchased the accounts from you, the music store owner. The funding source would provide advanced personalized collection techniques, custom billing, a sophisticated computer tracking system and a highly trained staff. In this way your bad debt would be kept to a minimum as you see your profitability increase dramatically.
Are you a music store owner with rent to own receivables? Do you need additional capital to meet current expenses, expand or purchase additional inventory? Did you know that it is possible to turn your rent-to-own receivables into cash?
Access Funding Center, Inc. provides a consulting service that will put you in a direct working relationship with a funding source who will turn your rent to own musical instrument contracts or receivables into cash . . . Immediately!
HOW IT WORKS
On previous season’s accounts you would receive 35-50% of the account balances. On brand new accounts you would receive the equivalent of a full season’s payments-25-30%.
A reserve account would be established for returns. Your reserve trend would be determined after a grace period. You would then be funded monthly on your return rate. All of the maintenance and repair fees which you typically charge would be returned to you on a monthly basis.
Depending on your customer fee structure and the terms of the contract, your cost would be between 7.5% and 15%. There would be no set-up cost to you, the music store owner.
Relevant to customer billing, each of your customers would receive a monthly statement in your store’s name. This actually insures better payment results than coupon books. Return mail provides an early alert to possible skips. Also monthly statements provide an important marketing tool for your store because custom advertising can be done on the statements. Also insert flyers can be enclosed with the statements to announce special promotions for your store. All of this helps increase your profitability.
In terms of payment options, customers have the option of making payments by credit card, check or automatic debit. As a store owner, you also have the option of having late payments automatically charged to your customer’s credit card. If you like, you could also opt to have the customer make payments directly to you, which you could then forward to the funding source.
Collections is by far the most important element of a truly successful rental program. The funding source would be completely responsible for the collections of the accounts after having purchased the accounts from you, the music store owner. The funding source would provide advanced personalized collection techniques, custom billing, a sophisticated computer tracking system and a highly trained staff. In this way your bad debt would be kept to a minimum as you see your profitability increase dramatically.
Your customers would remain your customers only, while the funding source would work with the accounts receivable. The instruments stay in your inventory, and if your customers want to make a return, they bring the instrument back to you directly.
The funding source would supply custom printed contracts that meet all federal and state regulations, and would provide these contracts free of charge. This alone would save you thousands in legal and printing fees. However, if you wish, you may use your own contracts. The funding source’s legal department would review your contract to bring it into compliance if necessary.
You would receive a complete monthly accounting of all aspects of your rental portfolio. This would include such things as details on inventory, payment transaction, returns, delinquency and paid out accounts . . .
Please contact Access Funding Center, Inc. direct at 864-981-0865 for more information on how you can benefit from this rent to own musical instruments financing program.
The funding source would supply custom printed contracts that meet all federal and state regulations, and would provide these contracts free of charge. This alone would save you thousands in legal and printing fees. However, if you wish, you may use your own contracts. The funding source’s legal department would review your contract to bring it into compliance if necessary.
You would receive a complete monthly accounting of all aspects of your rental portfolio. This would include such things as details on inventory, payment transaction, returns, delinquency and paid out accounts . . .
Please contact Access Funding Center, Inc. direct at 864-981-0865 for more information on how you can benefit from this rent to own musical instruments financing program.