How We Enabled this Independent Trader to Start-up

How We Enabled this Independent Trader to Start-up

Over $80,000

in total transactions

22 Lots

successfully sold

4 Lots

won in 2 years

Background

Allen Cassidy is the founder of AGC Bits, a small enterprise that buys and resells oilfield drill bits out of Crowley, Louisiana. Here’s how Network International supported Allen’s efforts to start his own business and become his own boss.

20-years in the drill bit business

I’ve been buying and selling oilfield drill bits for the last 20 years. As unlikely as it may sound, they are a passion of mine and I love doing what I do.

Two years ago, I took the leap and started my own business. I know this market inside-and-out and I’ve built a strong reputation over the years as someone honest and hard-working. I value the independence of being a business owner although it’s not without its difficulties.

Finding used drill bits is a constant challenge

My customers are retail outlets that sell drill bits to end-consumers. I stay in regular contact with them so that when the need arises, I can meet it quickly. The hardest part is finding drill bits in good condition to buy.

The majority of my supply comes in small quantities from members of the general public. I check the drill bit section of the Network International website every week to hunt for used drill bits. The volumes on Network International are often much higher than elsewhere making it worth my while.

Network International helps me access a market larger

I don’t just use Network International as a buyer. I also sell drill bits that I can’t sell into my existing network. It has yielded up to 10-times more than the next best alternative – taking them to the scrap yard. I recently sold a lot of bits to a company in Latin America which I wouldn’t have been able to do otherwise.

More Sales Methods. Higher Recovery.
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  • Client AGC Bits
  • Date July 24, 2018
  • Tags Energy.

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