As a small business owner what is one of your main goals? If we had to guess it would be to increase your sales numbers. What is the best way to do that? Well, it is not by making your sales representatives work harder or longer and it is not by hiring more sales representatives. The trick is to have a vendor finance program. The easier you make it for your prospective customers to buy your products the easier you increase your bottom line.
Still don’t believe us? We will break it down for you.
Here is what happens when you give your customers the option to lease by having a vendor finance program in place:
Speeds up the deal.
Your customer will never have to go searching for you’re a secure financing option on their own. Remember those customers that have to leave your business to go get a bank loan and they don’t return for weeks, if even at all? With a financing program in place you would be able to approve them on the spot and get paid faster. You won’t have to worry about them leaving to never return.
Prevents the customer from shopping around.
When the price tag is high, customers will generally shop around to save as much money as they can. If your small business sells medium to high priced goods you are probably familiar with this. You can avoid this by having a financing program in place. If you can offer your customer a financing option then it is no longer a high price but rather a monthly payment that is manageable.
Free up your customers’ cash reserves.
Today, most people to have a bunch of cash lying around to go and spend. They like to hold onto their cash in case of emergencies and unexpected costs. By financing your product your customers won’t have to worry about emptying their pockets.
If you have a vendor finance program with a solid financial partner it can definitely become easier for your customer to sign on the dotted line. More importantly, it puts you in a position to better care for your customer’s needs. With care comes trust as well as a long relationship between you and your customer.
Why haven’t you established a vendor financing program yet? Take the first step today with Direct Capital!