Dealer spotlight is a monthly blog series showcasing some of LeaseQ’s best vendor partners. These equipment sales representatives are among the top in the industry, and LeaseQ is pleased to share their stories.
Tell us about yourself and why you founded Billy Vick Restaurant Equipment?
I started Billy Vick Restaurant Equipment in 2011 with Steven Jeffrey after obtaining my company auction license and contracting auctions. Initially, we only focused on auctions, and contracted 30 in the first year, and 60 in the second. Very quickly, we gained access to many restaurants closing and an abundant volume of available equipment.
Restaurant owners started calling to ask if we would buy their equipment. Some had to be out in two days, which wasn’t enough time to advertise for an auction. We realized we had the opportunity to collect more equipment, so we rented a small warehouse, and began holding monthly auctions also. Soon, we graduated from a warehouse with 7,000 square-feet to one with 20,000 square-feet.
Today, we have diversified our business even further. Along with contracting auctions, we have an eBay online store, and we offer restaurant packages, walk-in sales and financing. This is where LeaseQ comes in.
Why did you partner with LeaseQ, and when did you first engage?
We partnered with LeaseQ because of their service. We have switched finance companies three times because the representatives didn’t provide services after a short time. Like a car dealership, we need to sell and secure financing while the customer is in the warehouse. LeaseQ makes this possible, and just this year, we’ve helped 40-plus restaurants secure financing for equipment.
What was equipment financing like before your partnership?
When we first realized we needed a finance company, we looked online and called several companies. We tried one company, but they didn’t try to get a cosigner or even contact the customer. They didn’t go the extra mile to get our customers financed, even though they claimed they could finance startups. Another company we worked with gave us great service, but they suddenly stopped approving almost every application. The rep was great, but he had no control over the approval decisions.
How does your partnership with LeaseQ benefit your customers?
Nothing leaves our warehouse that isn’t paid for. LeaseQ has been beneficial because we’re able to secure financing for many more customers. A customer may come in wanting to buy several pieces of equipment and leave with a complete restaurant package. With LeaseQ, we can finance and deliver the equipment quickly and easily. It is beneficial to have a finance company that works as hard as you do!
What do you like most about working with LeaseQ?
Our reps, Brett and Pat, have been just wonderful. LeaseQ has the best service of all the finance companies we have worked with.
What challenges are facing your industry?
Our competitors in the equipment business have been doing this for 20, 30 or 40 years. It is a challenge being a female and building a company in a male-dominated industry, but I have several things they don’t. I am diversified in my business. The “old school” guys do not hold auctions or provide financing. We are using all the tools of modern technology to rise above the rest. Internet, financing and passion for our business help us to compete in this competitive industry.
Learn more and finance your restaurant equipment today at https://www.billyvickrestaurantequipment.com/.