You’ve probably heard of Best Buy, right? A department store specialized in electronics and technology.
But did you know that Best Buy has a specialty program that helps business owners?
This program, appropriately named Best Buy for Business, offers a wide variety of benefits that could really give a boost to many small business owners.
In this article, we will discuss the benefits of Best Buy for Business, how you can sign up for it, and some of the pros and cons that come along with this program.
What is Best Buy For Business?
Best Buy for Business is essentially a partnership program between Best Buy and a business. This can mean anything from Best Buy being a supplier or providing technical guidance and expertise.
So if you own a small business, you definitely should give the program a look.
What are the Benefits of Best Buy for Business?
If you’re unsure if Best Buy for Business is right for you and your small business, don’t worry. Below is a non-exhaustive list of the benefits that this program provides to its partners:
Supplying Thousands of Business Products
Best Buy acts as a supplier for its business partners. Personal computers, printers, copiers, and a lot more can be purchased through your business account.
When you are running a business, you often need to buy in bulk, which can be complicated with technology and electronics. This is one of the primary benefits of Best Buy for Business: you can get a lot of these electronics in bulk if needed.
Price Savings and Exclusive Deals
Best Buy not only offers a lot of products, but it also gives special savings and deals to their partners on their official Best Buy for Business website.
This is great for saving you some much-needed money on needed supplies. They also offer a rewards program that gives you points based on purchases.
Best Buy Business Advantage Card
This is a no-fee card that gives the business owner a lot of flexibility in terms of invoicing, payment options, purchase orders, and transaction limits, and more.
Detailed Net 30 Invoices
After each purchase, you will receive a very detailed net 30 invoice. If you are unfamiliar with that term, it means you will be sent an invoice that must be paid in full within 30 business days.
Each partner has an account manager that gives comprehensive solutions to complex projects or other purchasing decisions. This can be an excellent resource for getting a second opinion and is also helpful to have whenever a problem arises.
Geek Squad Support
Best Buy employs technology experts called the Geek Squad that helps its customers in a variety of ways. This is another huge benefit for partners, as the Geek Squad can help with consultations, demos, project management, installation, security, and even support for your Best Buy products.
How To Get A Best Buy For Business Account
Getting a Best Buy for Business account is pretty simple. You can simply go to Best Buy’s website and sign up for a business account. The process is very similar to signing up for an account on other websites.
To start, you’ll need some basic information about you and your business:
- Your Name
- Your Business’s Name
- A phone number for your business
- Your Business’s Address
- An email for your business
You can also upgrade your personal account if you already have a Best Buy account.
Advantages and Disadvantages of Best Buy for Business
Now that we’ve shown what Best Buy for Business is, we are going to break down the pros and cons of signing up for one of these accounts.
Pros of Best Buy for Business
Easy to Sign Up
The sign-up process is straight forward and simple. This means less time fiddling around with your account and more time getting back to business.
You can get exclusive deals on electronics with this account. You’ll be able to save money.
There is a lot of flexibility involved with a Best Buy for Business account.
Your purchases can be personalized so you can set transaction limits or decide on payment options and invoices that are right for you and your business.
Guidance and Support
Electronics can be pretty tricky to install and set up. So having the Geek Squad to help you through that process can save you a lot of time and frustration.
The same can be said if your electronics break or start going on the fritz, you will be thankful that you have an expert on call to help you fix it.
Cons of Best Buy for Business
Not a Business Credit Card
We’ve talked about business credit cards and their advantages before, so it should be said that a Best Buy For Business account is not like a business credit card.
You can only use your account to buy Best Buy products (i.e., electronics), so you are limited in the rewards you can get.
Not Compatible With Business Credit Card
Playing off of the con above, you cannot use your business credit card for purchases at Best Buy (once you have a Best Buy for Business account).
This could mean that you actually don’t save as much money, depending on what rewards and cashback you have on your current business credit cards. If you already have a business credit card with great benefits, you might not need to sign-up for Best Buy for Business.
Doesn’t Increase Your Capital Directly
While purchasing accounts, like Best Buy for Business, can be nice, keep in mind that they won’t actually give you any increased capital for outside projects.
While you might save a dollar or two, you will need to rely on outside sources of capital, like a small business loan, for more significant projects like renovating or expanding your current workplace.
What’s Best to Buy for your Business?
We hope that this post has helped give you the rundown of Best Buy for Business.
Always remember that you have options when running a business, including supplier accounts like these, business credit cards, or even business loans. Choosing the right option for you and your business will let you grow your business in no time.
For more helpful articles and guidance, be sure to join our Camino Financial Newsletter. We always strive to fulfill our motto: “No Business Left Behind,” and a big part of that is creating a community of small business owners and giving back through our business loans and loan financing coaching. Become a part of our community today.