A firm offering cannabis collection services is not offering to pick up your cannabis for you! This is an arrangement that must remain between you and your customer or supplier.
The cannabis collections services offer you the ability to track down customers who have not paid you in full and may not have any intention of doing so. This is an unfortunate side effect of offering credit facilities.
While this is not something that has affected the traditional cannabis trade, it is becoming an increasing issue as cannabis is becoming legalized in more and more states. In general chasing debtors is time consuming and expensive; it is best left to be handled by specialized services; such as the cannabis collections services.
Of course, to get the best results you will need to choose the right agency; you should consider these points when choosing one:
- Knowledge of Industry
The best cannabis collections services will already have a good knowledge of the industry. This is important as many traditional debt collection services will be keen to generate additional funds from you. However, cannabis users have their own, unique habits and patterns which will be known to those in the industry.
The main habit of course is the need for cannabis; a firm which knows the industry should be able to track your debtor through sales made by other cannabis suppliers.
Although the cannabis collection services are relatively new they should already be building a reputation for success. This is important as the service will cost you money. There is little point using a firm which does not yet have a proven track record; you will simply be throwing good money after bad.
In fact, some of the best firs will even advise you when a debt is simply not worth chasing; to save you the funds and allow you to focus on the ones which are.
It is important to verify the cost of the cannabis collection services. This must be taken into account when factoring in whether it is worth chasing a debtor or not. Many firms will offer to accept a percentage of the funds collected; which represents no risk to you. However, they may have standing charges and you should verify this before you select the firm.
In many industries location is becoming mess of an issue and this may even become the case with cannabis collection services. However, at present only certain states have legalized the purchasing and sale of cannabis. This limits the market and will ensure that most of your customers are local.
It is therefore beneficial to select cannabis collection services which operate within your locality.
This will make it easier to communicate with them on a face to face basis and they are more likely to be successful as they know the area.
Whatever your decision it is important to monitor the accounts you pass to the agency and their success rate. If this varies dramatically from the figures you originally saw it may be time to look elsewhere.