Net ? Restaurants

Jillian Shelton

New member
Hey everyone,
I'm curious we have a restaurant company that told me that most restaurant companies pay net 90. Is this true? Because we have other restaurants that pay Net 30.
Thank you for any responses,
 

Steven Button

Administrator
I'll have a meal at that restaurant and pay 3 months later... ?!?!?!

In my experience that is far from the norm - 30 days max!
 

Newlook

Member
I guess we are one of the lucky few. Submit invoices by Thursday and checks cut the following Friday
 

Ron Musgraves

Exterior Restoration Specialist
Staff member
I want Restaurants on Credits cards if i can, they pay 30 or less or I will not wash in this economy.
 

Guy Blackmon

Roundtable Host 2009
Hey everyone,
I'm curious we have a restaurant company that told me that most restaurant companies pay net 90. Is this true? Because we have other restaurants that pay Net 30.
Thank you for any responses,

Jill, what "They" told you and what is the actual "Truth" are 2 totally different things. They're trying to see what they can get away with, that's all.

This is where (And Why) a lot of Companies in our Industry get into financial problems and go out of business....They let Customers dictate when they get paid. Don't ever make that mistake.........30 days net or no service.... period.
 

Jillian Shelton

New member
The guy that told me this was the GM, He said " Im gonna be honest with you our paying department doesn't send out the checks until net 90." I'm like what!? He said he sends it off on his end on Mondays. So from what I got from him was he has no power to do anything but he knows how they work.
 

Ron Musgraves

Exterior Restoration Specialist
Staff member
If your new in there systems this can be true, but there are ways you can close it to 45
The guy that told me this was the GM, He said " Im gonna be honest with you our paying department doesn't send out the checks until net 90." I'm like what!? He said he sends it off on his end on Mondays. So from what I got from him was he has no power to do anything but he knows how they work.
 

Jillian Shelton

New member
Ok that make sense. We have not worked with his company before or its affiliates. They only have two restaurants we do power washing for.
 

Ron Musgraves

Exterior Restoration Specialist
Staff member
Ok that make sense. We have not worked with his company before or its affiliates. They only have two restaurants we do power washing for.

I think he was just being honest, his corporation is slow. I would do it knowing that its on a close watch. Get in contract with the Accounting and make sure they have all the paper work. Submit the invoice , the first ones directly if they allow.
 

Jillian Shelton

New member
I think he was just being honest, his corporation is slow. I would do it knowing that its on a close watch. Get in contract with the Accounting and make sure they have all the paper work. Submit the invoice , the first ones directly if they allow.

Ok , Thank you Ron.

And thank you to all who responded I appreciate it.
 
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