2020 BRN Discussion, page-24844

When I was 7 years old I remember as clearly as if it was as yesterday walking down the main aisle at Grace Bros Parramatta with my father. We were going to buy a Mother’s Day present and we walked past a display and my father said You know Bill who came to dinner last week his company makes those.” Wow I thought and being seven I said “He must make a lot of money.”

My father then proceeded to tell me all about the terms of payment Grace Bros imposed on its suppliers and how if the product did not sell in 3 months Grace Bros would ring Bill and tell him to come and take it back and even if it did sell Bill had to wait 120 days to be paid.

I was shocked and asked why Bill accepted this and my father’s words have remained relevant to this day. “When your starting out like Bill you have to take what you get when dealing with Grace Bros because they are so big.”

Brainchip are in a better position than Bill but there is a downside to having EAP’s with two dozen or so of the biggest household name Fortune 500 companies in the world.

My opinion only based on 61 years of experience since that day in Grace Bros.

For the younger posters Grace Bros at one time was the Amazon of retail in Australia.