Why is Financing so Important to Your Business?
Did you know that in the US, 62 cents of every dollar spent on equipment is financed and that 72% of all companies finance equipment? That's nearly three quarters of all your customers financing their equipment purchases. But why? When you lead with a monthly payment, your customers save cash for expenses such as personnel, inventory and advertising.
It's about cash flow. Picture your customer dropping a huge chunk of money on equipment only to get a small return over time. It's like giving an employee 5 years' salary on their first day. It just doesn't make sense. The same should go for your customers' equipment. Sell them something that earns its keep and can be cash flow positive. Make it earn as it goes. Isn't that easier than requiring a large upfront cash outlay? That's where we come in.
We work with you to help your customer get what they need when they need it. When you lead with a monthly payment, you cut down on price wars, beat the "I can't afford it right now" response, differentiate yourself from the competitor who doesn't offer financing, and you get paid right away. Oh, and your customers will spend more on higher ticket items. Sell your customers the equipment they need, when they need it.