Determined Posted June 23, 2016 Share Posted June 23, 2016 Hi! So here's the deal I currently have a rack set up in this guy's store. He owns multiple stores. He had a store open but it closed do to a lease issue. There building a new building and the new store is set to open in August. He's verbally agreed to let me place a rack there. Yesterday they announced they're set to open yet another new store in a different town in July. I could probably get in a 4th store. I know I need to have patience as this could be big for me! But how long do you normally wait to place racks? When you are dealing with a chain of stores do you normally require a contract? Link to comment Share on other sites More sharing options...
PerformaVending Posted June 24, 2016 Share Posted June 24, 2016 It really depends on your relationship with this guy. How amicable he is when you talk and deal with him really determines how far an how fast you can push things. Some locs are very agreeable to contracts, some are highly averse- I usually only push an actual "contract" if the loc asks first. I always have an "agreement" on paper stating how things are done, but it's far from a "contract" legally speaking. Good luck landing the stores sir! Link to comment Share on other sites More sharing options...
AMD Snacks Posted June 24, 2016 Share Posted June 24, 2016 If you don't mind sharing, what is the gist of this agreement? I have a rack I just left at a store and explained verbally how things will go. It felt strange leaving such an expensive machine at a location with no paper work. But I also don't want a contract since I know that spooks people and actually isn't easy to enforce. Link to comment Share on other sites More sharing options...
PerformaVending Posted June 25, 2016 Share Posted June 25, 2016 If you don't mind sharing, what is the gist of this agreement? I have a rack I just left at a store and explained verbally how things will go. It felt strange leaving such an expensive machine at a location with no paper work. But I also don't want a contract since I know that spooks people and actually isn't easy to enforce. When I drop the machine off, I have a form (very simple word document) that states what the machine is, what we agreed to prior to placement in terms of percentage (can leave that blank to fill in with a pen), and that if anything is to happen to or needs to happen involving the machines to contact me. Two copies- one is mine (signed) one is theirs for their records. When I come to pay commissions, I have a secondary form that I use to pay them, stating what they are being paid and for what period. They sign and agree that everything is ok on that end before they get paid. Again, 2 copies, the signed one comes with me, the other one is for them to do whatever with. I've yet to have any "major" problems with this system. I've had to adapt it a little here and there, but generally speaking it covers my bases and theirs, but it's not exactly a "sign your life away" 'contract' by any means. I only dig these out for racks and other "big" gear like that. A verbal deal will work on triples and smaller. Good luck! Link to comment Share on other sites More sharing options...
AMD Snacks Posted June 25, 2016 Share Posted June 25, 2016 Yep I was just so happy to get a location I was worried about scaring them away. Did you have an experience that prompted all the paperwork? Or just covering your bases? Sent from my SAMSUNG-SM-G920A using Tapatalk Link to comment Share on other sites More sharing options...
Determined Posted June 25, 2016 Author Share Posted June 25, 2016 I'm not wanting to do contracts. I think this guy just likes to have the equipment in his store. He's seems to be a very nice guy. But I'm not sure that I like the machines sitting in my garage collecting dust waiting and one person being in possession of so much of my equipment. Kind of like putting all your eggs in one basket. Link to comment Share on other sites More sharing options...
musser Posted June 25, 2016 Share Posted June 25, 2016 Contracts need to be robust for large chain accounts. Location agreements ( really simple contracts that don't spook locatoons are needed for any commercial placement. You may not be able to get one but try. The basic location agreement states what you are putting in and what you are paying . It is very important that the agreement clearly states the equipment is yours. There are lots of ways you can lose equipment unless you have real documentation. Tax seizures of a location, bank seizures, the sale and or closing of a business, theft by the owner, another vendor trying to claim your equipment, it's a crazy business be prepared. Link to comment Share on other sites More sharing options...
Determined Posted June 25, 2016 Author Share Posted June 25, 2016 I think I'm going to right up a simple agreement stating that I'm placing "xyz" equipment at such and such place and that it's the property of me. I'm not sure why something like that would scare anyone away. I've also taken to engraving my last name under all the lids/tops to prove I have some kind of ownership. I figure if I have the keys and my names under the lid that should be enough for the majority. Link to comment Share on other sites More sharing options...
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