Are you considering offering customer finance programs, but don’t know if it’s right for your business type?
Do you question if it will be the best move for your business? Consumer finance is a great fit for retail and service businesses with high priced items. If you want your business to increase revenue and offer customer finance programs, read on to learn if you fit the criteria.
High Priced Retail
Your business is not cheap. Your products or services can easily cost thousands of dollars. Customers purchase from you seldom, but when they do it is a major purchase. We are talking about furniture stores, jewelry stores, auto repair shops, pet stores, and even funeral service providers. These are perfect candidates for customer finance programs. Clients of these businesses want the best, but also want to save money, so make it affordable with monthly payments.
Up-Sell Environment
Even if your product or services do not start out expensive, they can end up being costly. Up-sell items can improve the functionality and overall benefit of a product. Customers will purchase all add-ons if they can fit it into their monthly budget. A customer finance program can help you close the deal and lock in the up-sell.
Competitive Industry
Being competitive is about staying with the times. It’s one of the best ways to also stay current. If your competition is offering financing programs, you better do it too. Healthy competition is good for business. We recognize that it is not always best to follow the crowd, but in this case, you need to ensure that your competition doesn’t have a leg up on you.
If your business fits the criteria listed above, you are a great candidate for customer finance programs. Contact Financing Your Way for more information.