Coffee Machines on Credit?

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Coffee Machines on Credit?

Postby Guest » Thu Aug 31, 2006 10:54 am

Hi There,

I am thinking of setting up my own company selling household coffee machines, coffee and accessories.

I am planning to go to an investor with the bussiness plan and ideas shortly but first I want to see if one of my ideas bode well with TMC (as I was told if I want to know anything about coffee to come here...)

Basically I want to offer all my high ticketed items on a finance option.

When you guys bought your machines, would you have considered using finance if it was available?

Also, if you were offered a store card with it, would you feel more likely to buy from that company again?

I would have liked to put this in a poll, but I see no options for that...

Can you give me your feedback and let me know if there is anybody who already does this in Europe? Obviously TMCers would be entitled to discounts if we go ahead ; ) ; )

Thanks for all your help guys...

GOD BLESS COFFEE!!
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Postby chemistone » Thu Aug 31, 2006 12:57 pm

For me I would never buy such a thing on a finance. If I don't have the money I wouldn't buy it.
The only thing I finance is a house and that's it.
If you have to finance other things be very carefull. Save money and buy it or don't buy it at all. If you can't save the money, you can't pay it back either.
It has become a trend in shops in the NLs that you can finance it, it is even mentioned at the price label of many items. I try to avoid such shops as much as possible.
As a final touch God created the Dutch

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Postby HughF » Thu Aug 31, 2006 1:07 pm

I'd also be unlikely to buy on finance.

Cheers,

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Postby Slimboyfat » Thu Aug 31, 2006 1:14 pm

mmm.. interest free credit mmmm...

buy now, nothing to pay for ten years, interest free for twenty - put me down for a Mazzer!

...never knowingly underfed


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Postby Davec » Thu Aug 31, 2006 1:15 pm

With respect to coffee machines, my personal view is: if I can't afford it, I shouldn't have it. Saving to buy something is what I personally do.
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Postby Raf » Thu Aug 31, 2006 3:13 pm

I agree with the fiscally responsible crowd here: save-ity first!
This week I am eagerly anticipating the first god shots from my La Spaziale machine....

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Postby monkey66 » Thu Aug 31, 2006 5:26 pm

If I wanted to buy anything on credit there are many options. I am sure some people would buy a mchine on credit but I don't see this as a USP for setting up a business.
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Postby Guest » Thu Aug 31, 2006 5:59 pm

Hi,

BTW: This is not thought up as the USP. It is just one of the 'yet confirmed' ideas we have. THe more feedback the better decision..

Ta
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Postby AlanP » Thu Aug 31, 2006 7:16 pm

No thanks to finance deals,store cards,bonus points etc.

I believe the most important thing around here is customer service.
Word soon gets put about which companies are willing to listen and help.
More importantly,which companies aren't.
Good luck
Alan
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Postby CakeBoy » Thu Aug 31, 2006 8:06 pm

If you would like to set up a poll you will need to join. Polls are a member feature. I would not personally finance coffee equipment either.
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Postby mhuk » Thu Aug 31, 2006 8:12 pm

If you can't spell business....

If peeing in your pants is cool, consider me Miles Davis

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Postby siliconslave » Thu Aug 31, 2006 8:46 pm

AlanP wrote:No thanks to finance deals,store cards,bonus points etc.

I believe the most important thing around here is customer service.
Word soon gets put about which companies are willing to listen and help.
More importantly,which companies aren't.
Good luck
Alan


am i the only one that was expecting "aren't" to be linked.....
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Postby AlanP » Thu Aug 31, 2006 9:09 pm

siliconslave wrote:.....am i the only one that was expecting "aren't" to be linked.....

:D

Alan
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Postby BAB » Fri Sep 01, 2006 3:19 am

Even as a fan of financing things I think that a credit option would not be a big selling point in this market. I think that this option works best for items that appeal to a mass market where many of the buyers don't do their homework, caring little for the performance of the items they buy, and are thus easier prey for companies offering "easy" credit at 20%pa or higher. Flat screen TVs and PCs are all open to this sort of purchase incentive.
If I were to finance the purchase of a machine I would do it through a bank or whichever institution offered the best rate and it is my belief that most people who would countenance buying such an item "on tick" would prefer the cheapest option.
I do like the idea of a "loyalty card", my favourite local coffee shop has such a scheme and I'll walk past several other vendors to get a stamp on my card. That said, I'm not sure that as a seller I like the idea of loyal customers. They tend to look for discounts, preferential treatment and free stuff when they really ought to be satisfied with the excellent service that engendered the loyalty in the first place. That's just me though.
Best of luck with the business plan all the same :)
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Postby Guest » Fri Sep 01, 2006 2:07 pm

OK, well I think that the credit idea is a no go for now, but does anyone have any sugesstions on what coffee lovers would like to see available?

Like AlanP says, bonus points, store cards etc are pointless in your eyes! I am from a customer service background so am sure I will be able to apply that to the customers, only thing is trying to draw customers to us.

I see websites like www.pennineteandcoffee.co.uk, www.hookedoncoffee.co.uk & www.go-coffee.co.uk already but I want to be better.

Any suggestions?
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