Setting up a Trade Account

[oharaf]

Need to set up a trade account.

Would like some advice on best place(s) i.e. CEF, Edmundsons

What will I require to do this?

Cheers Guys, still raw!!!

 

[breezer]

What will I require to do this?

ask them.

 

[Dartlec]

Well, from what I've heard, don't use CEF unless you have money to burn!

We have tons of wholesalers local to me, but I use a local independent (Part of ANEW for buying power) and BEMCO, both of whom can supply almost everything I can get.

Oh, and Screwfix for some things can be useful.

BEMCO are currently my favourite, since I won their competition this month - anyone want to buy an XBOX?

 

[Spark123]

Some of them require a couple of credit references, they will all probably have their own differing requirements for joining, best bet is to call them and ask.

 

[Click-Sure]

Generally 2 trade references and a bankers reference.

Apply for a low credit rating - circa £500 and they probably wont bother checking them.

I'd reccomend Electric Centre. Avoid Chitty Espensive Factors. Edmundsons are neither here nor there really, but they are everywhere. See if you have a Lockwell nearby as well, they seem to be very good for anything galvanised (tray, conduit etc).

 

[Diyisfun]

I open the trade accounts for my company.
They need to complete an account application form, this will ask for 2 trade refs & bank details among a few other basic questions.
They are checked out on line, (we subscribe to a service). If they have a good rating the account will be opened. Sole traders are the difficult ones.
If the rating is not very good or they are a new company, we will apply for the trade references.
We refuse very few, but all are checked.
If a company has previous trading history with us ie credit card, we will usually open the account, although maybe with a low credit.
If its a multi million pound plc we will open the account prior to receiving an account apploication, but we still request one.

 

[Cremeegg]

No substitute for going and speaking to your favourite wholesaler or two. Most will let you have a cash account to start with. When they see how much cash you are puttiong their way each month then they will look at a credit account. Don't expect much, if anything, to start with as you'll just appear as a keen DIYer. Once you've built up a good record of cash over their counter you can start bargaining for good credit and even better discount.

Screwfix never have more than half of what I want - why do red butt crimps and blue butt crimps but not yellow! Rant over.

 

[oharaf]

Thanks for all that guys, didn't want to just go in without a clue.

By trade references, do we mean from fellas in the same trade or can they be from any trade?

 

[Diyisfun]

Thanks for all that guys, didn't want to just go in without a clue.

By trade references, do we mean from fellas in the same trade or can they be from any trade?

A trade reference is taken from someone that you pay with a credit account.
So if you had an account at a garage, a trade ref could come from them.

 

[Thermo]

most smaller suppliers will understand when you are setting up that you may not be able to give trade references (catch 22 and all that). As long as you can give a banking reference, and in some cases sign an agreement for the liability of the debt, many will accept that. It all comes down to the company you are dealing with. Some may want you to settle up straight away, but still give you trade rates until you have a track record with them. Dont be frightened to look for a good deal from them. Its in their intrest to get you on board, if they look after you, you will probably stay with them for years to come.

DONT forget to put the money aside for those trade account bills that come in a month after youve done the job and cashed the cheque!