After you have identified a prospective client in your area, you may be tempted to immediately pick up the phone to set up a meeting to introduce yourself. However, it is important to conduct some research and educate yourself on the business prior to your initial meeting. This is especially true for wood product manufacturing clients as there are many risks to evaluate.

Below are possible questions to ask yourself while conducting your initial research on a potential wood product manufacturing client.

Business Operations

• Who is the owner of the business? How long have they owned the business?
• When was the business established? Are there multiple locations?
• What wood products does the business specialize in?
• Does the exterior of the business premises look well taken care of?

In order to find some of the information for the above questions, you can:

• Call the company directly
• Check the company’s website
• Search the Better Business Bureau reports
• Search the state’s database of registered businesses
• Call the local government office responsible for licensing

Community Input

• What is the reputation of the business in your community?
• Is the business a member of the Chamber of Commerce?
• Can you determine who the suppliers and buyers of the business are? How is their relationship with the business? Would they recommend working with the business?
• Do any employees of the business live in your community? How do they describe their workplace? Do they think enough safety measures are in place?

 Online Presence

• Does the business have a website? Is it up to date and well-maintained? Does it reveal any exposures that might exist?
• Does the business have a social media presence? Are there reviews or complaints on their sites? Does it reveal any exposures that might exist?
• Does the business have a profile on the Better Business Bureau website (www.bbb.org)? Is it BBB accredited?  What is its BBB rating? How do the customer reviews look?
• Is the business featured on any other rating sites like Angie's List, Glassdoor, or Yelp? Multiple complaints, especially with the same concern, should raise a red flag.

Doing initial research on a prospective client can provide valuable information that may make it clear that the business’s risk profile does or doesn’t match the agency’s risk profile and can vastly improve the effectiveness of your initial sales call.

Note: The writings of Pekin Insurance are intended to be used for educational purposes only as well as to give you general information and an understanding of insurance. Pekin Insurance is not held to the accuracy or completeness of any information on this site or that is found by following any link on this site. Please refer to the policy, the specific coverage forms, and the endorsements for a detailed description of the coverages, limitations, and exclusions that apply. Each coverage scenario and policy are unique, so examples written by Pekin Insurance are not guaranteed.