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  #1  
Unread 06-05-2012, 02:55 PM
Easy Wheels Easy Wheels is offline
Walk Behind Mower
 
Join Date: Jun 2011
Location: Hernando, Florida
Posts: 34
Default Floor Planning

How much floor planning do you carry?
Our Floor Planning is 160K

Last edited by Easy Wheels : 06-08-2012 at 02:34 PM.
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  #2  
Unread 06-08-2012, 04:27 PM
John Matthews John Matthews is offline
Rear Engine Rider
 
Join Date: May 2012
Location: Michigan
Posts: 131
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I think this is really dependent on your market and how established your store is. I started with as little as possible but my shop is small and we're just starting out. Only a good business consultant familiar with the industry, and your area will really be able to answer with confidence.

The best thing is to pay for your stock so you own it, you can be a lot more flexible that way. If you can't do that just make sure you have bank financing as a backup if you get stuck with inventory that isn't moving. The interest rate on my floorplan once you're past the free period isn't much better than the payday advance folks....

Good luck, I hope that helps.

John
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  #3  
Unread 05-03-2013, 09:58 PM
backpack's Avatar
backpack backpack is offline
Garden Tractor
 
Join Date: Dec 2006
Location: north jersey
Posts: 61
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Its true that you need to use your floor plan to bring in the product you think will sell. And have the funds to pay off the units that don't. Because @ 2% or more a month your profit margin is gone.It dosen't matter if your credit line is 50 grand or 5mil you have the same constraints.We added Snapper Pro to our line this year which ment we had to increase our GE credit line.I had to go through the hole process including the additional loss payee ins. cluse.Money does cost money.
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