Good luck. I tried to sell DIYComponents a while back. It was a functioning webstore with real clients and established traffic. If I recall you offered me less than the value of the registration. LOL.
Fuck, I may end up keeping them if I can't recoup my registration fees! I don't remember what the offer was on DIY, but surely it was more than registration (I hope!).
Seeing as how "Honeywell" is a registered trademark, I should think that using this domain might just infringe on that. They've got even deeper pockets than Brinks and we all know the kind of trouble Jim R. wound up in. I wouldn't wish that on anyone!
That may be true, but I've owned it for a while and no complaints yet. I just can't keep up with a store, the back-end is more work than I thought it would be. My card processor holds back 30% for
90 days, making a lot of money out floating. It's unsustainable for someone without a huge credit line.
You haven't heard anything from Honeywell because so far you've just "parked" the domain. I would imagine their legal beagles are sniffin' around though.
Jim disrespected the court, that is why he lost. He felt he couldn't be bothered with the requests to show up. When he first got the cease & desist letter from Brinks he showed it to me (before it was posted!) lol...
Anyway, IIRC there were 10 demands and I advised him to willingly abide by a few of their requests. I enumerated the ones I thought were real 'sticky' ones, and ones I thought were reasonable (like not selling panels). It was an all-or-nothing deal for him, he didn't want to even try to be reasonable. His response to Brinks was to 'shove it', or something like that.
I think had he handled the case better, he may have won. You don't tell a district judge that she has no jurisdiction either!
I have never noticed a holdback, and I have a commercial PayPal account for my business and a personal one for my fishing club. It sometimes takes a week for money to appear in my PayPal account when a bank account only user makes a purchases, but that's it. Otherwise I can transfer the balances to my bank account as soon as they complete a purchase. Takes about 3 days to clear to my account.
I'm not saying they don't hold back your money, but I have never experienced it. I do have both CC and bank accounts attached to me commercial account. That may make a difference.
I run a small fishing tackle webstore using my commercial PayPal account. Purchase volume isn't super high, so maybe that's the difference. I also use that same account for buying and selling on Ebay.
How long are they holding back that 30%? Seems to me if you can hold out for about 3.5 times that time period once then you can get ahead of the curve, as long as you aren't taking out 100% of your profits every month.
Also... some of your distributors may be able to help with terms. Two of mine in the alarm business extended my standard payment terms just from me asking them. Didn't even ask for a new credit application.
90 days. That was after I "upgraded" to a merchant account and the API's for use in shopping carts.
Before that I would have the money instantly. I am also charged $30 for the 'service'.
Yep, I had the same thought. If I can build a rolling reserve of cash large enough. The good news is I get the interest on the funds.
ADI is the only one I was thinking of dealing with on the Honeywell-alarms.com site. I was just going to sell wireless kits and provide support for them.
I've had a run of bad luck with my shoulder first, now my back. Its hard for me to do much physical labor anymore. As such, my credit has taken a huge hit in the last 3 years being uninsured. I make a little bit fixing computers, and I dumped the alarm company because I didn't set it up right to begin with. If I get another gig as an IT contractor with HP here in Houston, I'm headed that way.
If not, I may just build the store (using different software this time) and see what happens. I can go to ADI 2-3x a week to get the product and ship it. The drop-shipping may be nice for larger, heavy, items. I'd rather pack & ship my own, so I can pre-program the panels and the wireless devices and include my own notes for them.
I don't know if Honeywell will dislike the name or not, after all I am selling their stuff. I'll make sure to notify people they are not dealing with Honeywell, but a re-seller.
Weird. I don't pay PayPal a monthly fee either. Just the usual exorbitant percentage of all funds received. I get API verification pack to my website too. Are you using a merchant credit card service through PayPal like a virtual terminal maybe?
90 days is a long time to hold 30%, and I am sure they are paying you crap for interest. I'll ask my dad if he experienced that when he had the hardware store. We never took credit cards a the grocery store, but Cotter & Co negotiated some pretty good deals for their True Value and V&S Variety franchisees.
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