How Financing Options Can Lead to More Business
Home improvements are an important part of owning a home, but for many home owners they are a cost that can be difficult to pay for. For this reason, it’s important to consider giving your clients options when it comes to paying for your services, including financing options.
According to the Certified Contractors Network, around half of all home improvement projects over $5,000 require the homeowner to use credit or financing. In some cases, the reason this happens is because the family didn’t have time to save up for the project. Perhaps a windstorm blew a tree branch into the house or a flood completely wrecked the basement; they find themselves in a sudden pinch and require financing options to make their home livable again.
Even when a home remodeling project is planned, financing options still make sense. Many homeowners want that option of low monthly payments rather than having to come up with the entire cost of the project at once. Regardless of what their reasons are, customers are more likely to choose a contractor that offers financing.
One of the perks of having a financing option is that you can use it in your marketing strategy and appeal to more clients. Experience shows that contractors with financing options are able to attract more customers and keep them longer, which means they develop a sense of loyalty with you.
However, you have to choose wisely when you bring a financier in to assist you with a financing program. Your best bet is to pick one that caters to prime and near-prime consumers. The big banks are often less likely to extend financing to a consumer with less than perfect credit, which means you end up losing out on business.
Instead, choose a tiered financing program, one that can offer financing to up to 50 percent of the consumers denied by prime lenders. With the right financier, you will see an uptick in business. When you take on a new client who has been denied in the past, they are more likely to give referrals, which is essentially free advertising for you.
When you bring The HELPcard in to assist you with your financing program, you get a company with experience in customizing solutions that fit the client. Furthermore, we can do the following for you:
- Offer a wide variety of promotional options to give you the competitive edge
- Increase your sales and grow your business
- Create a line of credit for consumers to make further purchases without reapplying
- Add value to the customer’s experience, which leads to better loyalty
- Provide an easy application process
If you’re looking to bring in more business, contact us today and we’ll discuss a customized option that is sure to give a boost to your profits.