As the cannabis market has started to slowly transition from COD to companies extending trade credit, slow paying and non-paying customers are bound to appear. And, when you start extending trade credit you will have an account receivable and when your accounts receivable starts to become past due or what is commonly referred to as […]
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Your Cannabis Customer Won’t Pay You, Who Should You Turn to First
By Sam Fensterstock COLLECTION AGENCY OR AN ATTORNEY? As your business in the cannabis market has grown many of your customers who you started doing business with on a Cash on Demand (COD) basis have now started to ask to “pay you next week” or what is commonly called “credit terms” and you have obliged. Now, […]
5 Red Flags Your Client Is About To Become Your Debtor
We have all heard that in business that nothing is more important than customers. Many corporations today recruit and pay steep salaries for C-Level executives that include titles such as Chief Customer Relations Officer or Chief Happiness Officer. In the cannabis industry, where reputation, community exposure and outreach are crucial for success, we work long […]
Five Signs Your Cannabis Customer Needs to be Placed With a Collection Agency
While trade credit is not currently the norm in the cannabis market, it will be in the near future. Once there is credit, collections is not far behind. So, what is collections? Collections is the recovery of outstanding funds from a business which you have extended credit to for products or services. Almost every company […]
