Do you own a plumbing business and want to increase sales by up to 85%? Offering third-party customer financing can break down those large project bills into manageable monthly payments for your customer. Read more about customer financing for plumbing services.
What is Plumber Customer Financing?
There’s over 120,000 plumbing businesses in America, generating over $107 Billion in revenue. The cost of plumbing services range from $40 at the very low end to $400 an hour on the high end. According to HomeAdvisor the average charge rate for a plumber is $328.
For big plumbing projects it can get expensive fast. A new electric water heater can easily cost over $500 and a tankless water heater over $1500, and including plumber fees that’s a couple thousand dollars.
What happens in the winter, when pipes freeze and bust? It costs an average of $500 to fix one pipe. What if a giant freeze happened and several pipes were busted under the house?
Most customers don’t have $2,000 to $4,000 lying around the house, therefore they ignore the problem, or try to fix it themselves. Offering customer financing for plumbing services allows the customer to not only feel confident in fixing all the problems, but also returning to you because they know financing is available.
Offering Customer Financing for Plumbing
Offering customer financing can transform your sales overnight and reduce anxiety for your clientele. Research shows that sales can climb as much as 85% when customer financing is available. Plus, repeat customers can increase by 20% because you are giving them options. They suddenly have a smaller amount due at the time of service rather than all at once, giving your customers relief during a potentially life-threatening situation.
How Customer Financing for Plumbing Services Works
Implementing customer financing into your plumbing business is a lot easier than most think. You can have customer financing for your customers within 48 hours, completely set up and ready for your customers to use.
We offer full-integration with your existing websites or phone. Customers can apply for financing through your website, or through their mobile phone. You will get a completely branded ordering form made for your business, so there is no worry if you don’t have a website.
Your customer will be able to apply and view several offers for customer financing because we work with over a dozen lenders. Even if your customer has bad credit or second-chance credit, we have lenders who can work with them.
Once your customer selects the loan offer, they can sign for the loan through e-signature. The entire process is paperless. You can also view all your clients and their status with a merchant management dashboard.
The best part of customer financing for plumbing services is that once the customer signs for the loan offer, you get the full amount of the loan amount. So, if the customer gets approved for the full plumbing bill of $2380, you as the owner gets the $2380 right away.
Then, the customer enters the loan agreement and begins the monthly payments. There is no recourse to you if the customer defaults. You get all the money and it is yours to keep. If the customer defaults, it’s between the customer and the lender.
Why Apply with Us for Plumbing Customer Financing
If you have a product or service that exceeds $300 we can help you. We offer customer financing up to $100,000. You can potentially increase your profits in as little as 48 hours with our customer financing. We are committed to helping small business owners survive these uncertain times and offering financing helps both the business owner and the customer. Click apply here to fill out a brief application and god bless!
Erik C. Johnson