Implementing financing into your sales process doesn’t have to be complicated. Financing options can seamlessly add to your HVAC business and ensure you stand out in the highly competitive industry. A statistic from Smart Service reveals, “The Bureau of Labor Statistics projected the employment of HVAC technicians to grow by 15% from 2016 to 2026.”
Not everything can be turned into a DIY project; some require a professional. A safe and comfortable home is absolutely necessary, making HVAC professionals essential to homeowners everywhere. Now has never been a better time to strengthen your HVAC business by offering home improvement financing options. When your entire team is aligned on the benefits of home improvement financing and its impact on your business, collective motivation will rise.
Some of the greatest benefits of offering financing include:
- The ability to relieve the financial burden that comes with an unexpected home expense, such as a broken air conditioning unit
- Removing the high up-front cost of a home improvement project for affordable monthly payments
- Providing the maximum amount your customer qualifies for, allowing you to offer additional services or higher-end products
Lead the Financial Discussion with Financing Options
Starting out the financial conversation by discussing the availability of home improvement loans can ease your customers’ financial stress and give them more comfort with the project at hand. It's crucial to remember that a wide variety of homeowners can benefit by having their projects financed – never assume your customer ‘needs’ or ‘doesn’t need’ financing. A consumer’s assets, such as their home or car, are unreliable indicators of their current cash availability for emergencies. Simply mentioning that financing is available will avoid the pre- judging risk, allowing you to close more deals and accelerate the growth of your business.
Home improvement financing, the new industry standard, is a reliable and beneficial option for homeowners with different financial situations.
The Power of Monthly Payments
Listening, relating, and supporting your customers’ journey is essential. You can even use examples of past customer success stories to relate to their situation. According to a study from Jotform, “30% of shoppers said a flexible payment plan option meant the difference between making a purchase and forgoing it.” Presenting a ‘good, better, best’ proposal in a monthly payment form can help your customers feel more comfortable moving forward with the project. Rather than presenting the total cost as thousands of dollars out of their pocket, it can be an affordable monthly payment. Your customers will be thankful for that affordability, giving your business a great advantage over competitors who may not have those options.
The ability to accommodate your customer’s unique budget is of great power. You can be that breath of fresh air during potential financial stress. Offering your customers a flexible financing plan that works for them is an advantage that will stand the test of time in your business.
Interested in learning more tips about offering financing? Read our full blog here.
Contractors, add to what makes your HVAC business great with Watercress Financial’s flexible financing solutions: https://watercressgroup.com/hvac-specialists/
