10 Feb Top 5 Ways Retail Consumer Finance Helps Small Businesses
Offering retail consumer finance is a great way to take your small business to the next level!
We interviewed small retail business owners to find out how retail consumer finance helped their small business. Here’s what we found:
Levels the playing field
Many business owners are beginning to realize that they are losing clients to their competition simply because their competition is offering consumer finance. If your business is going to stay competitive, you will need a partner like Financing Your Way, who works with multiple lenders. They can help you to provide more diverse options for retail consumer finance, so you will always be more flexible than your competition. In addition, Financing Your Way, offers support and sales training so your staff can quickly learn how to offer consumer finance, retain clients, and convert leads.
Meets the needs of your clients
Customers are not willing to overspend their monthly budgets, so by offering retail consumer finance you give your customer the option to work your product into their budget. If your current clients are consistently requesting discounts or they complain about your prices, your clients need flexible payment options. Retail consumer financing should always be your answer to those requests.
Makes expensive products affordable
Selling luxury products can increase your average sale. If your products are expensive, then it is critical that you offer retail consumer finance. Financing companies like Financing Your Way works with multiple lenders, so that you can offer more than one option for consumer finance.
Helps you to sell add-on products
If you sell multiple products, you should pair complementary products for an up-sell. Place popular items near the register and train your employees to never miss an opportunity to up-sell. If the final price is higher than your client expected, offer retail consumer financing as an option for payment.
Increasing revenue is the best reason for offering consumer financing. As a retailer, you buy products so that you can sell them. If your products are just sitting on the shelf, your business cannot experience success. It’s time to become flexible in your techniques and to try new ways to sell your products. Retail consumer financing is a modern strategy that can help your business increase revenue.