Are you a furniture store owner looking to dramatically increase sales in a short period of time? Offering customer finance to your customers has many benefits, including almost doubling ticket sales. Read more about customer financing for furniture in this article.
What is Furniture Customer Financing?
There are over 28,000 furniture stores in America generating $510 Billion a year in revenue. Americans spend an average of $500 a year on furniture. Although Furniture is big business, there are many independent furniture stores struggling to make ends meet.
To make matters worse, 30% of all the small businesses closed during the pandemic, that is 10 million businesses, and some of those were permanently closed. No one really knows the actual number, but I am guessing it is close to 5 million businesses that closed permanently.
Offering Customer Financing for your Furniture Store
Offering customer financing for your customers is the quickest way to improve profitability. Research has shown that adding third-party customer financing can increase your average ticket sale by 85% and increase repeat customers by 20%.
What happens when you offer customer financing is that you create more consumer confidence, because they know they have an option to greatly lower the lump sum into affordable monthly payments. Personally, when I shop online and notice that I can do a payment plan, I typically add a lot more items into my shopping cart.
How Customer Financing for Furniture Works
Adding customer financing options to your existing business is simple and fast. Within 48 hours you can have multiple lenders ready to finance your customers all under one roof.
Customers can view a list of loan offers from their phone or on the personally branded order page that we provide to you. They then select the offer that meets their needs, signs the agreement through e-signature, gets approved, and then you as the store owner get the full amount immediately from the lender.
The greatest part of this setup is that after you get the full purchase price from the lender, the customer then enters the payment process of paying back the lender. As the owner, you keep the money even if the customer defaults on their payments.
That’s right! The money is completely yours if the customer defaults. You won’t get this type of protection, or all the money upfront, if you do in-house financing. Only third-party customer financing has these perks.
Why Apply with Us for Furniture Customer Financing
We are vested into the survival of every small business in America. Implementing customer financing for your furniture store is the fastest way to not only give the customer a better, anxiety-free shopping experience, but it will be a hands-free transaction for you as well.
Everything involved in the customer financing is done for you, from the lenders, to the checkout and branded order forms, to the payment agreement between your customer and the lender they choose.
We also have many lenders who work with all types of credit types which will improve the acceptance rate and help you close more deals. Every step in the process towards customer financing is seamless and paperless.
You also get a dedicated merchant account dashboard to view all your customer’s financing and status reports. We offer 1 year to 15 year terms for over a 100 industries, including jewelry, retail, seminars and workshops, digital products, auto repair, home remodels, and more.
As long as you have a product or service in the range of $300 to $100k chances are you can get approved today for customer financing. Click the apply link below and fill out a brief questionnaire to get financing.