Understanding the benefits of offering financing options

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In this article, you will learn about some of the benefits of offering financing options to your clients. 

Financing options are a great way to make it easier for your customers to say yes to the services they need but may not be able to afford using traditional payment methods. Offering financing to your clients is a win-win for all parties, ensuring you receive the full payment for your services up front while allowing your clients to pay in installments over time. 

In Workiz, financing options can be made available to your clients through Sunbit or Wisetack

Here are some key findings from a recent study on how financing can help home service businesses like yours:

  • On average, businesses who offered financing won one extra job per week

    Closing deals with clients can be challenging for many service professionals. Often, one of the main reasons clients reject proposals is due to cost concerns.

    With the high expense of online leads, closing deals has never been more crucial. While winning every job isn’t possible, you can improve your chances by offering financing options that make it easier for clients to say “yes.”

  • Jobs paid through financing were 4.5 times the size of other jobs

    Financing options can significantly enhance your ability to close larger jobs. Financing makes high-cost services more accessible to clients who may be otherwise burdened by the upfront cost.

    It also opens the door for upselling opportunities for larger jobs. Clients who may have hesitated to add extra services or upgrades due to cost concerns can now consider these enhancements without straining their budget.

  • Nearly 90% of clients who used financing were happy and relieved it was offered to them

    Financing options aren't just a great way to grow your revenue, they're also a great way to grow your reputation in a crowded market.

    Happy customers are more likely to leave positive reviews, recommend your services to others, and become repeat clients, ultimately strengthening your businesss's reputation and generating long-term success.

     

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