Home > Business Resource Center > Offering & Selling Financing
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In this day and age consumers are used to "financing" and "charging" their
purchases. Keep in mind, people don't buy what they need, they buy what they want!
In my opinion, it is a must for a company to offer financing and accept major credit
cards. In my prior businesses, I tracked our results from when we didn't offer
financing and credit cards, and the revenue we generated out weighed the fees
associated with offering financing and accepting credit cards. Our average sales
ticket went up tremendously, as well! Again, I believe it is a must. Whether you think
so or not, there are certain people that can't afford a new furnace or a new roof for
their home.
However, financing is generally something that needs "sold". You have to focus on
what the consumer can afford per month and make your sale fit into their budget.
Most companies that help you get set up with financing offer some sort of training (at
no cost) for you and your employees so that you can show your customer the benefits.
You may be pleasantly surprised that a lot of consumers don't really care about the
interest rate and terms. People are used to paying interest and see it as a way of life
if they are going to have the things they want and need. I guess it's the American
way, these days.
The beautiful thing about accepting credit cards and offering financing is that you get
your money very quickly, in most cases, a day or so, helping your business's cash
flow. In most cases the percentage you are charged make it well worth it, as we all
know how important cash flow is.
purchases. Keep in mind, people don't buy what they need, they buy what they want!
In my opinion, it is a must for a company to offer financing and accept major credit
cards. In my prior businesses, I tracked our results from when we didn't offer
financing and credit cards, and the revenue we generated out weighed the fees
associated with offering financing and accepting credit cards. Our average sales
ticket went up tremendously, as well! Again, I believe it is a must. Whether you think
so or not, there are certain people that can't afford a new furnace or a new roof for
their home.
However, financing is generally something that needs "sold". You have to focus on
what the consumer can afford per month and make your sale fit into their budget.
Most companies that help you get set up with financing offer some sort of training (at
no cost) for you and your employees so that you can show your customer the benefits.
You may be pleasantly surprised that a lot of consumers don't really care about the
interest rate and terms. People are used to paying interest and see it as a way of life
if they are going to have the things they want and need. I guess it's the American
way, these days.
The beautiful thing about accepting credit cards and offering financing is that you get
your money very quickly, in most cases, a day or so, helping your business's cash
flow. In most cases the percentage you are charged make it well worth it, as we all
know how important cash flow is.