Having financing options can be a huge help when it comes to home improvement projects. These projects usually have a high upfront cost and most customers are unable to pay it all at once. With GreenSky® Program1 bank financing, projects become more affordable because payments can be broken down into installments. You can meet customer expectations better and you can close more deals to garner more profit.
Why is it Important to Offer Financing Options?
These days, most consumers expect to have financing options. Especially when it comes to big purchases, you will rarely find people who will want to pay it all upfront. When you offer financing, you’re giving consumers more buying power. With more buying power, consumers are more willing to spend.
What You Miss Out On If You Don’t Offer Financing
Offering financing is an added benefit for your business. When you don’t offer financing, you’re missing out on opportunities to close bigger deals and increase sales. Remember when we said that with more buying power, consumers are more willing to spend? We can apply that idea here.
Say your service business has the opportunity to upsell on a home project deal. The customer may already have the expectation that financing is offered and that’s why they are willing to spend more on the project. However, if they find out that financing isn’t offered, they may be hesitant to bite the bullet and go through with the purchase.
The benefits of financing are numerous, and your service business can pave its way to a more profitable future. To dive deeper into the benefits of financing, we’ve put together a guide that gives you actionable advice on how to close more sales, increase the average ticket size and get paid faster – all by offering financing!
Ready to learn more how you can increase sales with financing? Download the Increase Profitability by Offering Financing eBook to expand your knowledge on financing with GreenSky®!
Co-sponsored content with GreenSky®
- GreenSky® Program is a program name for certain consumer credit plans extended by participating lenders to borrowers for the purchase of goods and/or services from participating merchants. Participating lenders are federally insured, equal opportunity lender banks. GreenSky® is a registered trademark of GreenSky, LLC. GreenSky Servicing, LLC services the loans on behalf of participating lenders. NMLS #1416362