Why Increasing Your Clients’ Buying Power Is a Win-Win for Everyone
Construction projects often come with a lofty price tag, so it can be difficult for homeowners to pay out of pocket for the entire cost of a job. That’s why it’s important to give your customers financing options to help them confidently take on bigger projects and earn you bigger jobs—a win-win situation for all involved.
ABC Supply makes it easy for contractors to offer in-house financing to their customers through our partnership with GreenSky, a credit lender that’s trusted by thousands of construction professionals. This service is one of many available through ABC Supply’s Freedom Programs, a collection of resources that helps contractors succeed while freeing up some of their time.
Here’s how in-house financing can benefit your customers and your business.
How In-House Financing Helps Your Customers
- Makes projects more affordable
- The costs of an exterior home improvement project can quickly add up, putting a lot of stress on homeowners to find ways to foot the bill. Offering your customers some buying power with financing for the home improvement projects can give them peace of mind that they can comfortably afford the project.
- Allows homeowners to take on bigger projects
- The ability to offer credit can also make a difference in the size of a project that a homeowner takes on. For example, instead of needing to replace a couple windows, a homeowner may want to replace all of them or even add an additional project, like new siding. Working with GreenSky or another credit lender can help offset the cost of the remodel by providing affordable payment plans with low interest and low monthly payments to fit any budget.
- Accommodates urgent projects
- If a customer has a project that needs to be done as soon as possible, like a leaking roof, making them aware of financing options for home improvement can help them get the job done right away.
How In-House Financing Helps You
- Gives you the competitive advantage
- If a homeowner has the option of working with a contractor who offers access to affordable financing and one who doesn’t, there’s a good chance they’ll pick the contractor who offers credit options—especially if you make a case for the quality job you’ll do. Talk about your customer’s options for credit when you present your estimate to help you stand out from other contractors.
- Strengthens trust with customers
- Many contractors feel the pressure to find the pricing sweet spot between estimating a project realistically for their business and attractively for their clients. This can often lead contractors to lowball a bid to increase their chances of winning it. While this may work from time to time, it’s not a sustainable business practice. Contractors can take back some control by presenting an accurate estimate along with two or three affordable financing options.
- Guarantees payment
- It’s vital to your business that you receive your homeowners’ payments on time. Working with a customer who has a credit lender will ensure that you receive consistent payments, so you have money in the bank to pay your crew and other business expenses.
In addition to offering access to a credit lender for homeowners, ABC Supply offers contractors convenient access to increased credit. This helps you accommodate large jobs, be competitive in your market and ultimately grow your business. Learn more about this financial resource for contractors and how to apply here.
Check out other programs ABC Supply has to offer to help contractors make the most of their time and money.