payment query
- Thread starter andaman boy
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Matt_NJ
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No offense but you have already answered your own question:
- The transaction is a large one which requires most of your savings
- There is concern over the company being able to deliver and you potentially losing most of your savings with no recourse.
- The company in itself is not recognized by 7+ divers on one of the largest diving forums on the internet (some of whom have been diving for a long time)
- You are concerned about the transaction
- You are concerned about the transaction
- You are concerned about the transaction
Personally it would not be something that I would follow through on. If you are trying to start a business or are already in business and are looking to purchase from new whole salers this is not the way to go about it. You take on enough risk investing your savings in a product to sell when there is the potential that it will not sell, or not sell for enough to make you back your money or the profit you require to justify the effort. Adding in risk that you may not even get the product to sell is just a really poor way to start an entrepreneurial effort.
Are you approaching this venture in a fly by your pants mode? Did you build out even a rudimentary business plan? Local market analysis? Is this something web based, or actual LDS on premesis? If you have not done any of the above then you may want to STOP now and analyse what you are getting into. Take a business class in your local college they probably offer somehting in the evenings for $200 which would help out. Do some research on the internet about starting a business and developing plans. Speak with Financial advisor and a Tax advisor prior to investing your money to ensure you get the best returns and tax benefits and most importantly track your paperwork properly.
There is a lot more to any business then buying a bunch of product and offering it for sale!
- The transaction is a large one which requires most of your savings
- There is concern over the company being able to deliver and you potentially losing most of your savings with no recourse.
- The company in itself is not recognized by 7+ divers on one of the largest diving forums on the internet (some of whom have been diving for a long time)
- You are concerned about the transaction
- You are concerned about the transaction
- You are concerned about the transaction
Personally it would not be something that I would follow through on. If you are trying to start a business or are already in business and are looking to purchase from new whole salers this is not the way to go about it. You take on enough risk investing your savings in a product to sell when there is the potential that it will not sell, or not sell for enough to make you back your money or the profit you require to justify the effort. Adding in risk that you may not even get the product to sell is just a really poor way to start an entrepreneurial effort.
Are you approaching this venture in a fly by your pants mode? Did you build out even a rudimentary business plan? Local market analysis? Is this something web based, or actual LDS on premesis? If you have not done any of the above then you may want to STOP now and analyse what you are getting into. Take a business class in your local college they probably offer somehting in the evenings for $200 which would help out. Do some research on the internet about starting a business and developing plans. Speak with Financial advisor and a Tax advisor prior to investing your money to ensure you get the best returns and tax benefits and most importantly track your paperwork properly.
There is a lot more to any business then buying a bunch of product and offering it for sale!
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Matt_NJ:
Actually, I recognise them. IST manufactures SCUBA equipment and has been around a long time.
However that doesn't change the fact that I wouldn't be paying anybody in advance with a large wire transfer for anything.
Terry
DiveSite
Contributor
I have purchased from them before. Scubatoys and Scuba.com both carry their products.
For what it's worth, here is their US contact info:
IST Diving Systems
1652 W. Orange Grove Ave.
Pomona, CA 91768 USA
TEL: (909) 622-9600
FAX: (909) 622-9220
For what it's worth, here is their US contact info:
IST Diving Systems
1652 W. Orange Grove Ave.
Pomona, CA 91768 USA
TEL: (909) 622-9600
FAX: (909) 622-9220
Matt_NJ
Guest
Web Monkey:
That's good to know. That changes alot if they are a known entity but I still stand by my recommendations for doing the necessary due dilligence to start a business. And I agree with you regarding the wire transfer but I generally do not purchase stuff from overseas unless I have no option.
creggur
Registered
Just got an IST hooded vest from ST for my wife last week.....
Actually seems like a pretty nice piece, titanium lined and comfortable according to my wife....
Actually seems like a pretty nice piece, titanium lined and comfortable according to my wife....
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Starting a business requires that you manage your cash flow. That is the number one killer of small businesses -- not lack of sales, but lack of ready resources
If you have to spend most of your savings to get started and you have not left yourself 4-6 months of operating capital readily available to you, then you will fail. Not might, will.
I work in the financial sector and I see this all time. It doesn't matter how great your business idea is, how well developed your plan is, how hard a worker you are, or anything else. If you don't have the money to weather the unexpected you will go belly up, usually sooner rather than later.
My concern for your question is not if this is a good or bad purchase. My concern is the "most of my savings" part of the claim. If that's the case, then you don't have enough savings to succeed, and you should consider what other options you have open to you to address what sounds like an impending critical cash management failure.
If you have to spend most of your savings to get started and you have not left yourself 4-6 months of operating capital readily available to you, then you will fail. Not might, will.
I work in the financial sector and I see this all time. It doesn't matter how great your business idea is, how well developed your plan is, how hard a worker you are, or anything else. If you don't have the money to weather the unexpected you will go belly up, usually sooner rather than later.
My concern for your question is not if this is a good or bad purchase. My concern is the "most of my savings" part of the claim. If that's the case, then you don't have enough savings to succeed, and you should consider what other options you have open to you to address what sounds like an impending critical cash management failure.
creggur
Registered
Of course after reading this in Scuba Diving I don't think I would trust their life support equipment.
IST R600 Saturn & R700 Imperial
IST R600 Saturn IST R600 Saturn ($290)
First-stage type: Balanced piston.
Low-pressure ports: 4.
High-pressure ports: 2.
First-stage swivel? Yes.
Second-stage adjustments: Dial.
THUMBS DOWN:
Failed all breathing simulator tests.
Poor wet breathing.
Significant changes in breathing and wetness in differing positions.
IST R700 Imperial ($250)
First-stage type: Balanced piston.
Low-pressure ports: 4.
High-pressure ports: 2.
First-stage swivel? Yes.
Second-stage adjustments: None.
THUMBS DOWN:
Failed all breathing simulator tests.
Poor breathing, regardless of position.
Bubble interference.
Consumer Alert
These two IST regulators should not be used for scuba diving. Not only did they both fail every breathing simulator test, neither of them even made it to 66 feet on the objective machine tests. They performed worse than the private-label mail-order regulators we evaluated several years ago.
During the ocean ergonomic tests, the less expensive R700 did better than the adjustable R600. No owner's manuals are provided by IST. The poorly translated IST catalog tells us "Balance piston ... adjustable second stage will provide smooth effortless breathing." "Made with superb precision engineering ... designed to breathe effortlessly ... extremely safe ..."
These two regulators not only failed to meet U.S. Navy and European CE criteria, they could not function at 66 feet and were overbreathed by test divers in 30 to 40 feet of water.
IST R600 Saturn & R700 Imperial
First-stage type: Balanced piston.
Low-pressure ports: 4.
High-pressure ports: 2.
First-stage swivel? Yes.
Second-stage adjustments: Dial.
THUMBS DOWN:
Failed all breathing simulator tests.
Poor wet breathing.
Significant changes in breathing and wetness in differing positions.
IST R700 Imperial ($250)
First-stage type: Balanced piston.
Low-pressure ports: 4.
High-pressure ports: 2.
First-stage swivel? Yes.
Second-stage adjustments: None.
THUMBS DOWN:
Failed all breathing simulator tests.
Poor breathing, regardless of position.
Bubble interference.
Consumer Alert
These two IST regulators should not be used for scuba diving. Not only did they both fail every breathing simulator test, neither of them even made it to 66 feet on the objective machine tests. They performed worse than the private-label mail-order regulators we evaluated several years ago.
During the ocean ergonomic tests, the less expensive R700 did better than the adjustable R600. No owner's manuals are provided by IST. The poorly translated IST catalog tells us "Balance piston ... adjustable second stage will provide smooth effortless breathing." "Made with superb precision engineering ... designed to breathe effortlessly ... extremely safe ..."
These two regulators not only failed to meet U.S. Navy and European CE criteria, they could not function at 66 feet and were overbreathed by test divers in 30 to 40 feet of water.
Well, I don't want to pry too much... but do you already have a store? Or are you buying a bunch of IST stuff to open one? I would not spend my life savings on just one off-brand product line to open a shop. As mentioned before, we do carry some of their stuff - and have had no problems, but mainly some inexpensive neoprene products, a few little accessories, etc.
If trying to open a shop, I'd make sure you have some diversity in your products, and you need a larger brand name that can give you a wider sku option. Something like Oceanic, Aeris, Scubapro, Aqualung, or even Mares, Tusa would be much better investments... and unless you haven't saved too much in your life - it won't require your life savings.
If you want to give me a little more info - I'd be glad to talk to you about it... If you don't want to post info here, feel free to contact me through pm or larry@scubatoys.com
If trying to open a shop, I'd make sure you have some diversity in your products, and you need a larger brand name that can give you a wider sku option. Something like Oceanic, Aeris, Scubapro, Aqualung, or even Mares, Tusa would be much better investments... and unless you haven't saved too much in your life - it won't require your life savings.
If you want to give me a little more info - I'd be glad to talk to you about it... If you don't want to post info here, feel free to contact me through pm or larry@scubatoys.com
OP
andaman boy
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hey doc,
gonna be openin in the andaman islands....india.this will be rental equipment.
gonna be openin in the andaman islands....india.this will be rental equipment.
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