I have been a little bored professionally lately. And, I have told me wife that I was looking for some type of change. (Our marriage is fine, so she did not take change the wrong way.) This only became my hope within the past week, and today I had my hope answered in full or part….
One of my businesses is (was) supplying floor cleaning products for a large national retailer of women’s lingerie products. I bring the product in, and then I ship it to a centralized warehouse where the floor cleaning products are sent out to individual stores. I had a passing thought about this business earlier this week, and the inkling exploded today. This floor cleaning product has been determined to leave a residue on their floor tiles. And, they are stopping all further ordering of the product. Additionally, they would like me to purchase back their remaining inventory of product. (in excess of $10,000)
- I just ordered and received a sizeable order of these floor cleaning products. This retailer is my only customer for these products. Do I try and return? Sell at a discount on eBay?
- Without this product, the need for my warehouse is barely needed. Do I discontinue all cleaning products and end my sublease of my warehouse space?
- I have the janitorial supply business and my sign business. If I choose to stop the janitorial business entirely, I can focus more on the sign business……
- The same company issued a PO and refused to pay for the product ordered before.
- These products have been good, consistent business. But, with the elimination of these products, the effort necessary to keep this customer viable is of questionable worth.
As it stands, I will likely wait to discuss options until April. My business partner in this business is out of the country for a few days, and we can both be more level-headed about it then.
On the positive side, my health or my families health was not impacted. BUT, I will be careful what I ask/hope/pray for in the future…really careful!!