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Business Bank Accounts
Establish a business checking account, preferably at
a bank with which you are familiar. Pay as many
business expenses as possible with checks drawn on
your business account. This will help ensure
complete records and receipts for business expenses.
As soon as your business income permits, establish a
business savings account. Later when the growth of
your business requires that you borrow money for
additional equipment or other needs, you will need to
apply for the loan through the business loan officer of
your bank. By having both a business checking
account and a business savings account at his bank
you will improve the chances of your loan being
approved.
Record Keeping and Money Management
To save costs you might be inclined to handle the
"paperwork" yourself. However, unless you (or your
partner) have had bookkeeping and accounting
experience, you will be better off turning over the
record keeping and accounting to a professional.
A professional bookkeeper or accountant will set up a
bookkeeping system suitable for your business and
then will periodically post income and expense
entries, audit the books, and prepare financial reports
that reveal your profit/loss status and your sources
of income and expenses. Most accountants will also
prepare the income and sales tax reports that local,
state and federal governments require you to file. In
addition to providing you with a how-it-goes look at
your business, the profit/loss and other financial
reports are needed for various tax purposes and
for borrowing money to expand your business. An
account also will be able to help you better manage
the financial aspects of your business. The "money
management" services of an accountant are
especially important as your business begins to grow
and you must make decisions about when and how to
expand it.
Once the books are set up, if you so choose, you or
your partner can post income and expense entries in
them, bill customers (accounts receivable), and pay
expenses (accounts payable).
Licenses and Permits
Most states, counties, and/or cities require that
businesses be licensed. Your accountant or another
local business owner can tell you what licenses are
required in your area and where and how you must
apply for them.
In addition to licenses that apply to all retail and/or
service businesses, some states and cities also
require special licensing of certain type of businesses,
and/or competency certification of certain skilled
trades that service the general public. Because
antenna installation is a skilled trade, be sure to
check with your state or local electronic dealer/ser-
vicer association to determine whether special licensing
or certification is required in your state or city.
If your state and/or city has a sales tax, you also will
have to apply for a sales tax number. (Most electronic
parts distributors will ask for your sales tax number
to verify that you are purchasing for a business there-
fore entitling you to wholesale prices.)
Introduce Yourself to Your Local Channel
Master Distributor
Visit your local Channel Master Distributor. Introduce
yourself and your business to the manager and learn
about the products and services that are available to
you. Inquire about ordering, payment, and credit
policies. Have your sales tax number with you and if
the distributor's credit permits giving a new business
an "open credit policy account," be prepared to fill
out a credit application. This means that you should
have a list of credit references who can verify that
you are a good credit risk.
Your Channel Master Distributor will be willing to
help you plan and cost out the antenna installation
you sell and install. He will also be glad to answer any
technical questions you have, or he will refer your
questions you have, or he will refer your questions to
one of the many antenna experts within the Channel
Master organization. The people at Channel Master
believe that installers are entitled to the best
available products and whatever technical support
necessary to install superior antenna systems.
SELLING TV ANTENNAS INSTALLATIONS
Some people think that "selling" means talking
someone into buying something they don't need and
don't want. People have this impression because at
one time or another a "high-pressure salesperson"
has attempted to con them into buying something.
There is a big difference between "conning" and
selling. Selling a needed, quality product at a fair
price does not require high-pressure or misleading
tactics. All that is required to sell a useful, fairly-
priced, quality product is to identify people who need
it, and then give them a convenient and comfortable
opportunity to learn about it. If you know the merits
of your product and can explain why and how it
meets the prospective buyer's needs, chances are
you'll make the sale and not even realize it until the
buyer says, "I'll take it."
S
I
ELLING &
NSTALLING
S
YSTEMS
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