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Landscape & Design

By Daphne Dubois • April 2, 2020

The Benefits Of Offering Your Customers Financing Options

Techo-Bloc

Ready to grow your business? We’ve developed a program that will surely increase your closing rates. Introducing: Pave Now, Pay Later. This exciting new financing program was designed to allow homeowners to design the outdoor space of their dreams without any financial constraints and for you to increase your bottom line. Everybody wins!

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What’s in it for you?

We’re partnering with local trusted banks because of their exclusive focus on home-improvement lending and proven track record of working with landscape professionals just like you. The Pave Now, Pay Later program features high approval rates, easy application methods, fast payment, personalized support, and much more!

Still not convinced? Here are a few facts that may surprise you!

  • 33% of homeowners who are using financing options use the program offered by their contractor because it’s convenient.
  • Contractors see their closing rates skyrocket from 25% to 46% when offering financing (prospects that become clients increase from 1-in-4 to 1-in-2).
  • The average sale increases from $10,000 to $14,380 (+43,8%)
  • Contractors are assured to get paid in full upon project completion.

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When you offer payment options to every customer, you can not only improve cash flow, but increase leads, boost closing rates, grow average project size, eliminate discounting and reduce cancellations. It’s a win-win for everyone!  In fact, based on an average ticket size of $10,000, customers who chose to do more work because of financing increased their job size by 43.8%. If you think about the increase in project size and the increase in close-rate, while also factoring in the decrease in cancellations and discounting, you’re looking at a very low-risk/high reward situation. Your business will grow quickly and consistently.

In the long-run, payment options are also beneficial!

  • Allows homeowners to pay for their projects over time
  • Ties the project directly to you
  • Helps homeowners manage their budget
  • Gives homeowners a choice – customers value this
  • Allows your customers to use the bank’s money interest free.

You position yourself as a contractor who is helpful and flexible. This reputation will follow you long-term.

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Financing demands are on the rise!

There’s a reason why we’ve decided to offer a financing program at this time. In fact, recent market research has shown that there is a growing need in our industry for payment options.

  • Market projections for home improvement spending are estimated at just over $300 Billion in 2020
  • Over 50% of homeowners are financing their home improvement projects over $5,000
  • Homeowner’s are staying in their homes longer
  • 33% of homeowners regret not spending more on their renovations!

With plans ranging from 12 month Same-As-Cash (no payments, no interest for 1 year) all the way to 6.99% for 7 years, Techo-Pros will be equipped with a fantastic tool to help them close sales faster and for more money! Studies have shown that with these payment options, contractors have been able to increase their closing rate by 76%! Now that’s a boost!

Eager to get started? Check out our Pave Now, Pay later page to learn about the next steps!   

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