How DrinkTanks Gets Paid Upfront on Golf Club and Craft Brewery Orders With Resolve Pay

DrinkTanks found Resolve through MarketTime, then used it to offer Net 30 terms to golf clubs and craft breweries. In its first three months it sent over $50K in invoices through Resolve and was paid upfront on every one.

At a Glance

Customer Snapshot

DrinkTanks has made insulated growlers, CO2 dispensing systems, and drinkware in Bend, Oregon for more than a decade. Consumers buy on its Shopify site. Wholesale buyers order at trade shows, through the company's own portal, and on MarketTime.

The wholesale business has two sides. The DrinkTanks brand goes to brick-and-mortar shops. The co-branded side puts a golf club's or brewery's logo on custom drinkware, made to order. On his onboarding call, Nick Hill put it this way: "We try to automate everything we can."

The Challenge

DrinkTanks had some rough years during COVID. Now it's growing again, and faster than planned. The hard part is how long cash stays tied up. DrinkTanks makes its product in Asia, both custom orders and its own line. It pays a large chunk upfront when it places a purchase order and the rest when the goods ship. Delivery takes about 45 days. Only then can it sell, ship, and wait to get paid. "It's almost about a six month cycle that cash is tied up," Nick said.

Selling on terms to golf clubs and breweries stretched that out further. DrinkTanks was carrying six figures in receivables on its own books, and any money still owed by a customer was money it couldn't send to the factory for the next order. Faster cash, and getting credit checks and collections off the team's plate, were what Nick needed most.

The Turning Point

MarketTime, the wholesale ordering platform used by manufacturers, sales reps, and retailers, had started offering net terms to its manufacturers through Resolve. Nick filled out the MarketTime and Resolve interest form and talked the program through with MarketTime.

Once Nick got on the phone with MarketTime and Resolve, it was clear there was an opportunity to offer net terms to their customers with large orders, golf clubs and breweries, in addition to those who place orders outside of market shows.

The Solution

Here's how it works for DrinkTanks:

• 100% advance. DrinkTanks sends an invoice from the Resolve dashboard and gets the full amount advanced, minus Resolve's fee, usually within 1-2 business days. The buyer pays Resolve on Net 30.
• Resolve takes the credit risk. Resolve checks each buyer's credit, sets their line, and follows up on payments. The program is non-recourse, so buyer credit risk stays with Resolve.
• Easy to pick up. After his onboarding walkthrough, Nick said, "Invoicing was pretty straightforward. Payment's pretty straightforward."

The Results

Within three months, DrinkTanks ran more than a dozen wholesale orders through Resolve, mostly from golf clubs and breweries. It was paid upfront on every one, usually within 1–2 business days, while its buyers got 30 days to pay. DrinkTanks gets faster cash flow, Resolve carries the credit risk, and its customers get flexible terms.

“Our cash cycle runs about six months, from the factory deposit to the day a customer pays. With Resolve, our golf and brewery orders get paid upfront, so that money goes straight back into the next production run.”

Nick Hill, Founder, DrinkTanks

The Takeaway

DrinkTanks came in through MarketTime and set up Resolve for its MarketTime orders and its direct wholesale accounts under one agreement. Other brands on MarketTime can do the same: offer Net 30 on platform orders, extend the same terms to customers they sell to outside MarketTime, and get paid upfront either way.

Sell on MarketTime? Resolve can put net terms on your wholesale orders, on MarketTime and off it, and pay you upfront. Learn more at resolvepay.com.