Mobile Surveillance: Growing Your Fleet
This week Jake Voll brings three lenders and one operating dealer together on the money side of mobile surveillance trailers. Marvin Fuller of M&S Security Services Inc has gone from two rusty prototypes to seven trailers in about a year. Jim Wooster of Alarm Financial Services lends against RMR, Jennifer Holloway of CIBC Bank leads the specialty security group there, and Peter McCoy of NewLane Finance writes the fast equipment paper. Nobody spends a minute on camera specs. The whole hour is how you pay for the first trailer, and then how you pay for the fleet.
In this episode, we talk about...
✅ Marvin's path from two prototypes in the yard to seven units, including why he bought a couple of used ones
✅ Selling a $2,000 a month trailer when your sales team is used to $40 a month alarms
✅ Who actually buys these, from contractors and municipalities to solar fields, and who to stop chasing
✅ Short term versus long term contracts, whether they are on wheels or not, and why the advance rate differs
✅ Utilization rate instead of attrition as the number that matters, and how two dormant months eat your margin
✅ The three financing routes: an RMR based facility, a traditional bank line, and one page equipment paper
✅ CIBC's three by three by three timeline, and why the banking relationship has to exist before it starts
✅ NewLane's four hour credit approval, and financing your customer instead of guaranteeing the note yourself
✅ Four week billing and the thirteen month year, which Jake had not heard before this call
✅ Cash flow versus crash flow, and the concentration risk hiding inside a 150 trailer deal
Coffee Break With Jake is recorded live every Friday at 11am ET. Join us live or register to attend at https://go.ssandsi.com/coffeebreak
In this episode, we talk about...
✅ Marvin's path from two prototypes in the yard to seven units, including why he bought a couple of used ones
✅ Selling a $2,000 a month trailer when your sales team is used to $40 a month alarms
✅ Who actually buys these, from contractors and municipalities to solar fields, and who to stop chasing
✅ Short term versus long term contracts, whether they are on wheels or not, and why the advance rate differs
✅ Utilization rate instead of attrition as the number that matters, and how two dormant months eat your margin
✅ The three financing routes: an RMR based facility, a traditional bank line, and one page equipment paper
✅ CIBC's three by three by three timeline, and why the banking relationship has to exist before it starts
✅ NewLane's four hour credit approval, and financing your customer instead of guaranteeing the note yourself
✅ Four week billing and the thirteen month year, which Jake had not heard before this call
✅ Cash flow versus crash flow, and the concentration risk hiding inside a 150 trailer deal
Coffee Break With Jake is recorded live every Friday at 11am ET. Join us live or register to attend at https://go.ssandsi.com/coffeebreak
