Posted by Heather Brautman on Tue, Aug 27, 2013 @ 10:00 AM
Cat got your tongue? It may feel a whole lot worse than cat scratch fever when your bank starts levying bad check deposit fees against you, or worse, you’re out both the money for your furnishings as well as the furnishings themselves. Beware this morality story unless you and your home goods store have nine lives to spare.
1. Life Among the Littermates
Whether you grew your store from the ground up or inherited it as a family business, it was probably a stretch to crawl out of the box. You had to differentiate yourself from the rest of the pack, which may have looked a lot like you (though there’s always that one you wonder about!). You’ve got your paw in the door and are ready to make a go of it in the home furnishing business.
2. Stray Cat Strut
Enterprising cats try to get INTO nests, but when you’re just starting out, you’re trying to leave the nest and guess what, it’s going great. You’re finding your niche, creating goodwill, nailing customers’ needs, and taking a big, fangy bite out of the furnishings industry. Good for you – not a hairball in sight!
3. Eye of the Tiger
The proud cat starts to assemble his own pack. These are the people you run with, the ones you trust. This includes your sales team, executive and administrative staff, and anyone else who helps promote the greater good of your furnishings store. You are making it, let’s hear you roar!
4. On the Prowl
While you do one of those great cat stretches (never a downward dog!), something just doesn’t feel right. You have that cat sense – like when a feline freaks out its person by staring directly over his shoulder, even though “nothing” is there – that there’s something going on. You notice your administrative people are a little more harried, the finance folks a little more worried.
5. The Pack Attacks
And then suddenly it’s happening. Customers who were once your bread and butter (or salmon and tuna?) have gone on the attack. Not all of them – not even most – but just a few. You’re receiving bad checks, or people aren’t paying their installments. You sold and delivered, but the buyers took and ran. The money you thought was coming in isn’t, and now you’re really stuck.
6. Creatures of Habitat
One bad check doesn’t seem like it’d be much more than a drop in the milk bowl, until you think of what that money goes to. Can you afford to miss someone’s salary for the week? Or pay the lease on the storefront? Employees won’t miss their healthcare premiums, will they? It’s not just the unverified check, either. If you usually re-invest profits back into furnishings, store improvements, or personnel, you’re out the compounding interest that check could have provided, too.
7. Skitten Row
It’s not ignorance that leads a store down this path. In fact, it’s a positive attitude, one that believes in the good of people, the denial of that “bad seed” or “rotten egg.” It’s hard to imagine any bad coming out of an angelic cat-like face, but it happens. (As anyone who’s mistakenly rolled over onto her feline friend mid-nap knows all too well.) You’re at a point in the road where you can continue to prowl the same road you’re on, which isn’t looking too good, or you can detour off and get some help.
8. Landing on Your Feet
Cats have a legacy of always landing on their feet, no matter how high they are when they jump. While a check guarantee company can’t ensure you’ll tread as lightly as little cat feet, it can provide you the backup you need to jump. The services ensure you can make that leap, or continue to, because you never have to put your store at risk. A check guarantee company takes on that risk for you.
9. Lapping it Up
The first thing to know is, you’re not alone. Many retailers have gone through the exact thing you’re going through, and have come out successfully on the other side. It’s just a negative of doing business. Some folks don’t even mean to write bad checks – they don’t know they can’t cover their accounts – but it’s not your problem. With a guarantee service in place, checks are verified at your point of sale in seconds via terminal, phone, or internet before being deposited at the bank. If an approved check is returned from the bank unpaid, it can be submitted to your guarantee service for processing and reimbursement.
Don't let your furnishings fur get ruffled. Enjoy this quick, free downloadable guide to spotting fake checks. Then let us know if you need some more help (belly rubs optional).