Taylor guitars are sold in the U.S. and Canada, as well as in over 60 countries, through more than 800 music retailers. As part of the Taylor brand strategy, dealers must provide customers with a "full Taylor experience", stocking the full line of Taylor's guitars. But stocking the full Taylor line presents a challenge to dealers: a guitar can take up to six months to sell from the time it arrives at a dealer. Conversely, manufacturer's terms typically require dealers to pay within 30 days. Taylor needed help providing inventory finance for stock purchases and turned to GE Capital, Commercial Distribution Finance for a solution in 2000.
GE Capital's Strategy
GE Capital, CDF offered Taylor Inventory Financing to help dealers acquire Taylor's products for stocking their stores. With Taylor taking care of the upfront inventory finance costs, CDF enabled the dealer to purchase the full range of Taylor guitars, matching the dealers' turns to GE terms.
Deb Barker, Relationship Executive for CDF, and the music team, worked closely with Taylor Guitars designing programs and terms, to provide cash flow solutions during seasonal peaks and valleys. Taylor offers their dealers the total experience through the Taylor Guitars University, educating their dealers on Taylor's products, managing their business, as well as GE Capital's cost effective finance programs. Deb reckons
"We come to Taylor as One GE....a unified team. With our manufacturer-centric model, not only do we offer affordable programs, we also provide valuable insight as subject matter experts."
Providing a streamlined financing solution has put Taylor's marketing and distribution strategy first, helping their business take off in 2010. Sales volume through GE Capital has increased 25% Year Over Year, with stronger growth trends anticipated.
Both Deb and Taylor are working towards promoting music education. Deb is the chair of the GE Volunteers team in the Atlanta, GA office, and has connected with the “Little Kids Rock” foundation, a non-profit educational program designed to bring instruments and music education to school children in economically challenged areas. As a business passionate about music, the match was a perfect harmony.
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