How do I know if a company is still in business?

Submitted: Friday, Mar 22, 2019 at 08:42
ThreadID: 138002 Views:1214 Replies:8 FollowUps:5
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Hi all,

Could I just dip into your expertise for a moment, please?

I am about to have a newly bought van send to a company that does
2WD to 4WD conversions. I live in QLD and the company is in VIC.
Is there a way to check if the company is doing okay other then flying down there?

cheers,

Annelies
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Reply By: Member - Racey - Friday, Mar 22, 2019 at 09:07

Friday, Mar 22, 2019 at 09:07
Google the name of the business.
AnswerID: 624546

Follow Up By: annelies - Friday, Mar 22, 2019 at 09:38

Friday, Mar 22, 2019 at 09:38
Thanks, and that tells me what? That the business is still holding up their website
or that they are still in business?
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FollowupID: 898066

Follow Up By: Member - Racey - Saturday, Mar 23, 2019 at 10:42

Saturday, Mar 23, 2019 at 10:42
A search will bring up any reference to that company including a phone number
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FollowupID: 898086

Reply By: Member - wicket - Friday, Mar 22, 2019 at 09:44

Friday, Mar 22, 2019 at 09:44
Depending on your vehicle there is one in qld https://bus4x4.com.au/
AnswerID: 624547

Follow Up By: annelies - Friday, Mar 22, 2019 at 10:02

Friday, Mar 22, 2019 at 10:02
Thanks Wicket. Yes, have been there but they do not convert TH commercials unfortunately. The short distance would have been much more convenient.

cheers
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FollowupID: 898068

Reply By: Ron A - Friday, Mar 22, 2019 at 11:07

Friday, Mar 22, 2019 at 11:07
Maybe give them a call and have a chat over the phone. Ask if they would be happy to supply contact details for some past clients that you could talk with.
A Google search will reveal any comments from forums or online sites, a search of VCAT and Consumer Affairs Victoria will reveal any Small Claims Tribunal matters.
A Google search of the address will also enable you to look at a street view and see where they are working from. A search of Business Names in ASIC will identify that the Company exits and how long it has been in existence.
A search of Facebook may provide some information although not all businesses use Facebook.
At the end of the day the cost of a flight down might be money well spent as presentation of the staff and workshop always provides a good idea of the quality of the work.
AnswerID: 624552

Follow Up By: annelies - Friday, Mar 22, 2019 at 12:36

Friday, Mar 22, 2019 at 12:36
Great!! Thanks for the info, Ron. I'll get into it right away.
You are right, after collecting as much info as possible I should go there myself
as well.

Thank you very much for your time.

cheers,

Annelies
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FollowupID: 898070

Reply By: Boobook - Saturday, Mar 23, 2019 at 11:03

Saturday, Mar 23, 2019 at 11:03
I would have thought a quick phone call would tell you the answer.



Tony
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AnswerID: 624576

Reply By: Ron N - Saturday, Mar 23, 2019 at 12:01

Saturday, Mar 23, 2019 at 12:01
Annelies - You enter into risk anytime you engage in a major transaction with any business.

You may get advice that the company is in business, and even speak to the manager/owner, and even give them your job that you needed done.

However, there is no way you can know if the business is solvent, or if it is teetering on the edge of bankruptcy, or if it will go into liquidation while your job is being done.

Be wary of businesses that have a poor credit rating (you can acquire business credit ratings from a number of companies), businesses that have a record of not paying suppliers, or are very slow payers.

Be wary of businesses that have a record of disputes in Small Claims Tribunals, media reports of customer "difficulties", and a list of lawsuits .
You can study up on any company lawsuits on the AUSTLii site.
The judges case summaries in lawsuits give a very good idea of the reliability and honesty of the people involved.

Finally, object to demands for large payments up front, and never pay the full amount up front.
A business should have adequate working capital to carry out your job without demands for large payments up front.

Be especially wary of businesses demanding full payment in cash, up front.

As a rough guide, a payment of around 10% to 20% up front should be a maximum payment required - unless there is a large quantity of specific or specialised materials/parts required for your job - in which case, a larger payment may be requested.

Always make payments with credit cards, this ensures you have recourse as regards getting your money back, if the company goes into liquidation, and fails to complete your job.

Finally, check Product Review, WordofMouth.com.au, and Google reviews on the business - and ask for testimonials from satisfied customers, before entering into any agreement with any business, that involves a lot of work and serious amounts of money.

The size of a business is no guarantee of their ability to continue in business, large companies go into liquidation very swiftly, on a regular basis.

Regards, Ron.
AnswerID: 624578

Reply By: Baz - The Landy - Saturday, Mar 23, 2019 at 14:19

Saturday, Mar 23, 2019 at 14:19
Ask for some customer references, people who have had conversions done with them. It might be a way of gaining an insight to how the business is going.

Cheers, Baz - The Landy
“Those who don’t think
it can be done shouldn’t
bother the person doing it…”

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AnswerID: 624582

Reply By: Mark W11 - Saturday, Mar 23, 2019 at 23:33

Saturday, Mar 23, 2019 at 23:33
Extremely tricky to workout if a company is financial, as rarely do employees even know that a company is about to shut as well as the employee can even find themselves locked out.

So yes you will be at risk, mainly with the deposit and warranty of work.

For Example:
Resent closure Jurgens Australia
https://pakenham.starcommunity.com.au/news/2019-03-18/no-plan-on-the-vans/

https://www.caravancampingsales.com.au/editorial/details/jurgens-australia-shuts-its-door-117543

There will be people with missing deposits for ordered caravans,
There will be people who will not be able to get faults fixed etc..

So people have mentioned here phone the company -- even about a couple of days before a closure, I am sure an employee would say all is good, even the owner would say so.

People say Google the company -- that will not work that well.. I can see that Jurgens Website is still up.. https://jurgens.com.au/ no signs of issues there either.
AnswerID: 624588

Follow Up By: Cyberess - Saturday, Mar 23, 2019 at 23:42

Saturday, Mar 23, 2019 at 23:42
Actually Jurgens could still be in business https://www.facebook.com/jurgensau/photos/a.225274777537793/2245881882143729/?type=3&theater

I guess it's just a matter of marking sure that one is not over exposed.
1
FollowupID: 898101

Reply By: annelies - Sunday, Mar 24, 2019 at 05:58

Sunday, Mar 24, 2019 at 05:58
To all that have responded to my question, thank you very much for your expertise and time. It is of great help.

I have done the online research, made several calls and are going to meet the people before the van arrives. The deposit is 50% but the work is extensive and specialised, so .....
Before completion of the work I'll go there again and as you all said, it is all I can do and for the other part...... fingers crossed.

Thanks everybody and I hope to be able to exploroz in a couple of months as hubby and I still have to convert the van into a camper ourselves.

cheers,

Annelies
AnswerID: 624589

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