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When dealing with businesses one of the major assets you can buy are the invoices which the business issues for services or goods it has supplied. You need to have a trusted relationship with your business client and you want your client to be in the right sort of business issuing invoices to good quality customers.
When you deal with private individuals you should hold and be in control of the asset you buy. You need to take into account the cost of storing, protecting and insuring the asset for up to 90 days in the fee you agree to charge.
When you deal with businesses there may be assets which you will not take into your possession. A prime example is a car from a second hand car dealer. You would leave the asset in his control so that he can continue to try to sell it. It follows that you need to have a trusted relationship with your client in these circumstances.
Getting your initial clients couldn't be easier. Just tell all the people you know what you're doing and you will begin to do business. A simple information card will get the ball rolling. You will be surprised at how quickly you get more business through simple word of mouth. You won't need to sell anything in this business.
An asset discounting business can quickly build into a complex admin problem. Different fees, different discounts and many clients will want to do a lot of business with you. It can be difficult to control and administer your business. We recommend using the excellent AssetDisc system. AssetDisc is on-line so you can operate it from any internet enabled device including your phone. It has a single fixed monthly cost so you know what your business admin overhead is and you have no nasty surprises.