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"Why would you not offer financing when it can increase your ticket price by 30% and close over 50% more deals?" This compelling question from Gail, Account Executive at FTL Finance, sets the tone for a conversation that could transform how contractors approach sales in today's market.
Many contractors mistakenly believe financing is only for price-shoppers or worry that discussing payment options makes them sound pushy. The reality? Modern consumers expect financing options for everything from Amazon purchases to groceries – and your HVAC, plumbing, or roofing services should be no different. This expectation is particularly strong among millennials, who focus less on the bottom line price and more on whether purchases fit comfortably into their monthly budgets.
The psychology behind financing is powerful. When homeowners see a $12,000 system price tag, many experience immediate sticker shock. But presenting that same purchase as a manageable $150 monthly payment makes it digestible and accessible. Leading with payment factor – introducing financing options early in sales conversations – creates a better customer experience while driving higher close rates and increasing average tickets.
Ready to leverage financing in your contracting business? Start by partnering with one financing company and offering simple payment options to every customer. Make financing visible in all your marketing materials, and train your team to present it confidently as a valuable service rather than a last-resort option. Bundle additional products and services into financed packages to create complete solutions that benefit both your customers and your bottom line.
Whether you're new to offering financing or looking to optimize your current approach, the message is clear: financing isn't just an option anymore – it's becoming essential for contractors who want to remain competitive and grow their businesses. Connect with FTL Finance to learn how their contractor-friendly programs can help you meet modern consumer expectations while boosting your sales and average ticket size.
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From the Yellow Chair