Wayfair Net 30 Review
Although it's known as a home goods brand, Wayfair offers numerous products like furniture, appliances, and lighting that can also be used by businesses.
If you’re looking to decorate and equip your business with these types of products while also building business credit, you may be interested in a Wayfair net 30 account.
Our Wayfair Net 30 Review
With a staggeringly large product catalog, LTM net revenue of $12 billion, and reporting to two of the three major credit bureaus, Wayfair is an appealing vendor to many business owners.
The only downside is that they lack some of the transparency of other vendors.
3 Reasons to Get a Wayfair Net 30 Account:
- Wayfair Reports to D&B and Experian Business
- Wayfair Offers Over 40 Million Products
- Frequent Sales
One of the first things business owners want to know when considering buying from a net 30 vendor is which credit bureaus they report to.
When it comes to Wayfair, it’s Dun & Bradstreet and Experian Business — two of the three major credit bureaus. That’s something that should pique the interest of many business owners because it’s more than what many other vendors offer.
By making your payments on time, this reporting should increase your business credit score, which can help open the door for future financing opportunities like low-interest business loans and the best credit card terms.
Something to note is that Wayfair offers what’s called a Professional Account, which technically has 60-day terms for B2B customers in the United States. However, for non-US customers that pass a credit check, Wayfair offers net 30 terms.
So for the sake of simplicity, we just counted it as a net 30 account.
If you’re looking for true net 30 accounts, here are some worth considering:
Created in 2002 by founder Steve Conine of Cornell University, Wayfair Inc (formerly known as CSN Stores) has grown to be one of the world’s largest home goods commerce marketplaces.
They’ve even been referred to as “the Amazon of home goods” and have seen impressive revenue growth and interest from Wall Street and countless investors.
They currently offer:
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Offered over 40 million products from over 20,000 suppliers
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Had a huge employee base with over 14,000 employees across North America and Europe
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Served over 22 million active customers — many of which are repeat customers
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Had a market capitalization of $8.4 billion
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Had over a 14% market share in home goods in 2023 (despite a 1% net loss)
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Earned $3.2 billion in total net revenue in the second quarter of 2023 alone
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Had $116 million outstanding shares in December 2023
When it comes to selection and company profitability/overall financials, Wayfair is hard to beat.
From furniture to rugs to lighting to appliances and more, you can find virtually anything you need from a single supplier.
Although many items they sell won’t apply specifically to business owners, such as bath towels and wine fridges, for instance, they still have an extensive catalog that does. Office furniture and overhead lighting are just a couple of examples.
Also, this company is known for having quality customer service with customers having access to a Wayfair employee throughout most of the day.
A quick look at Wayfair’s website and you’ll see how much they have deals baked into their business model. To quantify, they have products up to 40%, 50%, and even 60% off.
They also offer:
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Clearance sales
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An annual Way Day sale
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Black Friday deals
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Promo codes
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Rewards
Besides that, there are coupon offerings for even more deals, which are perfect for business owners who want to cash in on big savings. Further, Wayfair offers fast and free shipping on orders over $35, with many items offering 1-2 day delivery.
The bottom line is that if you want access to a huge inventory line of Wayfair stock with many coming at a low cost, this company is an excellent choice as a vendor.
Wayfair Net 30 Account Requirements
Applying for a Wayfair Professional account is pretty straightforward and requires three main steps.
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Choose your industry
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Submit your contact info
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Verify your business
In terms of specific information Wayfair needs on the application, they ask for your:
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Personal information
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Business name
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Address
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Tax ID
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EIN
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Business start date
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Annual sales
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Net income
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Gross profit
Note that Wayfair delivers to several countries outside the US, including the United Kingdom, Germany, and Canada. But to open a financing account, you must have a US-based physical billing address.
Also, note that applying for both a Wayfair credit card and 60/30 day financing is done through a Wayfair Professional account.
As for the minimum purchase amount for this retailer, they don’t officially state what it is. However, the average for most net 30 vendors is around $50.
And as we mentioned earlier, spending anything over $35 will ensure you receive free shipping.
You can apply for a Wayfair Professional account here.
If you’re interested in reading their privacy statement, you can find it here.
Build Business Credit Even Faster with eCredable
Net 30 accounts are one of the main ways business owners raise their credit scores while also increasing cash flow. And there’s no denying that this strategy is effective. However, it’s not without its pitfalls, as doing so typically requires you to have 5-10 vendor tradelines.
One way to expedite the business credit-building process while saving time and money is to use a tool like eCredable, which turns your business bills into credit tradelines.
It’s a simple concept.
Whenever you pay business utility bills like electricity, internet, water, or TV, eCredable reports your payment history to the major credit bureaus.
And because we automatically attempt to download up to the last 24 months of your payment history upon signing up, this can result in a huge credit bump right off the bat.
In fact, most business owners see an average increase of 32 points.
For more information, check out eCredable Business.