Goodwill is the hidden asset in a business. Goodwill is the value that is built in the trading name of a business. It is a bit like a superannuation payout on retirement. Goodwill is not defined by the product a business sell.
The Goodwill in Apple inc. resides in their business name, not the iPhone or the iPad they sell. Products may fall in and out of favour over time. There is no goodwill value to an iPhone or an iPad perse. What is the Goodwill value in your trading name?
If you are trading with someone else’s business name, (the franchisor) whose goodwill are you building? Yours or theirs? If that franchisor goes down the gurgler, will you go down with it, or will you need to start from scratch again with a new business name?
It should be obvious to all of us by now that sheds are a commodity product. Farmer Joe couldn’t give a rat’s if your shed is a Ranbuild, Fair dinkum or a Wide Span, or that the steel comes from Czechoslovakia. If the price is right and the product suits his needs, that’s what he will buy.
This is the definition of a commodity product.
“a product that is the same as other products of the same type from other producers or manufacturers: Sugar is a commodity product and no one company has more chance of controlling its supply and price level than any of its rivals”.
So, if you were thinking that you are selling a “better” shed, you are not thinking with your customer’s mind. Wake up, it’s a tin shed.
Goodwill, your pension fund, is developed in the trading name of a business. Do you own the goodwill in your trading name, or does someone else?
At Quotec we are committed to help you keep the goodwill you build in your business name. We do this by providing state-of-the-art shed software. Software that you can access at your customers home on their computer. And we provide connections to steel suppliers Australia wide for you to choose from. It could not be easier, it could not be so transparent.
With Quotec: –
You can trade in whatever business name you what to build your goodwill into
There are no contacts to sign, not term to worry about, no territory, no rules, or regulations, no trading restrictions if you decide to leave, no noting. You simply subscribe to the Quotec system on a month-by-month basis, or you unsubscribe. It really is that easy.
You can use whatever supplier you like. Stramit, Lysaght, Metroll, or whoever. Use all of them at the same time and compare costs. Or you can order a shed with Quotec’ default suppliers right then and there. No setup required.
We are a family business that have been in sheds for decades. We have erected them, we have designed them, we have manufactured them…we know sheds. We can help you.
If building goodwill is becoming a priority of yours, you need to partner with a company that will not shackle you with their philosophy or business name, you need to talk to us. At Quotec we are innovators. We offer you flexibility to run your business as you see fit without any hindrance from us. We offer freedom without hooks.
If you want to have a private conversation, please call me John on 0410666812 and we will talk.