Are you a remodel contractor looking to get more customers quickly? Are some of your remodel clients turning down your larger priced renos? In this article, we will discuss how to offer remodel customer financing to not only land more customers, but improve your average ticket sales by 85%
What is Remodel Customer Financing
There’s almost 4 million construction companies in the U.S. with 482,000 being remodeling companies. Construction is big business and more people are remodeling homes and flipping houses than ever before. The average ticket that people spend on a remodel is $10,000 to $15,000. Offering third-party customer financing can nearly double that amount. Let’s look at the benefits of remodel customer financing.
Remodel customer financing offers the customer the ability to break larger purchases into manageable monthly payments. Customer financing is not a new theory, but rather something most successful companies offer. Why not give your customers the option? In as little as 48 hours, you can have a seamless customer financing portal set up for your customers.
Offering Financing to Your Remodel Construction Customers
Research has shown that customer financing can dramatically ease the stress of decision-making for your customers and actually promote more buying and add-ons by 85%. It also can increase repeat customers by 20% because customers now know they have options.
Many customers decline the remodel without the business owner even knowing that the customer looked but got lost on the price. Customer financing solves that problem. Now, customers can be excited when browsing your portfolio of remodels and looking at exciting new remodel features for their home.
Remodels can be expensive and out of reach for most Americans. An average bathroom remodel price is between $6500 to $17,000. Most Americans don’t have that kind of money lying around. Add the additional price of supplies, including wood, rising dramatically during the supply-chain dilemma we’re having, and you have a scary price tag staring at you!
How Remodel Customer Financing Works
Once you apply for and are accepted for our Remodel customer financing program, you’ll have many lenders ready to work with your customers all under one roof. We have a wide-range of lenders that can work with all types of client types, from great creditworthiness to bad credit and second-chance credit.
There’s many features included in our customer financing, including seamless integration with any existing websites you use, paperless contracts, e-signature, a dashboard to see the funding status of all your customers, and best of all there is no recourse to you if the customer defaults on the loan.
Why Apply with Us for Remodel Customer Financing
Is it time to dramatically increase sales for your contractor business? If so, you can be up and running in as little as 48 hours. Then, your customer can apply to your financing through your website or their phone and view all the offers they are pre-approved for.
Once the customer chooses the plan best suited for them, you get the full dollar amount for the purchase right away, and the customer then enters the loan agreement with the lender. The entire process is hands-free for you; you collect the money and the customer begins the payment process with the lender.
Simply click the link below and fill out a brief form about your business, your average purchase price, etc. If you have products over $300 and services over $1000 you are on the right track to being approved. I wish you all the success in the world and thanks for reading! We are committed to helping every business not only survive but thrive during these hard times.
Erik C. Johnson