In any market, clients are looking for ways to make their purchases more affordable without compromising the quality of the product or delaying the service they need. That makes consumer financing a strategic tool for companies to boost sales and revenue while addressing clients’ financial needs. Your fencing company can benefit significantly from offering your shoppers dedicated financing and installment payment options.
This article from the United Consumer Financial Services team explains four reasons your fence company should consider consumer financing today.
Outmatch Your Competitors with Consumer Financing
Although the global fence market experienced significant supply shortages and noticeably declined in 2020 due to the effects of COVID-19, the market has since rebounded and is growing rapidly. The global fence market was valued at $8.51 billion in 2022 and is projected to reach $12.7 billion by 2030. That means several fence types and materials will likely maintain a 5-7% compound annual growth rate over the next several years.
Representing the largest single market size, the residential fence market accounted for 33.6% of the overall fence market in 2021 and is expected to increase at a 5.3% compound annual growth rate over the next several years. Despite being the demographic with the largest market share, residential clients often have less expendable income than corporate clients. This means the clients who buy the most fences often need the most financial assistance.
These numbers matter because they demonstrate that your company is competing in a rapidly expanding market, and you have opportunities to capitalize on revenue while demand is high. These numbers also indicate that the market is highly competitive, so companies with a competitive advantage can expect significant growth.
Offering consumer financing for your fencing and services provides a strategic advantage for your company. Consumer financing distinguishes you from your competitors, draws more clients to your products and services, and ensures a steady revenue stream while fostering long-term customer relationships. Financing firms like United Consumer Financial Services provide fence companies like yours with a way to gain more clients and offer customized payment options.
Keep Environmentally Friendly Materials Affordable
Due to inflation and lingering supply chain issues, wood and other environmentally friendly fence materials have become increasingly expensive to buy and maintain. Many clients can no longer afford these fence options or their upkeep despite a growing interest in sustainable materials and environmental awareness. That is why less expensive, lower maintenance materials like chain-link, vinyl, and metal dominate the market. These long-lasting, more cost-effective materials are projected to gain popularity over the next several years.
Your clients should not have to choose between affordability and their aesthetic or environmental concerns. By offering consumer financing, fence companies like yours can give clients the freedom to choose the appearance and material they want at a price they can afford.
Designed to offer clients more time to pay for the products and services they require, consumer financing transforms expensive up-front costs into manageable, affordable monthly payments. Providing your clients with consumer financing options means environmentally friendly materials can be budget-friendly, too, keeping sustainable or “green” fence sales a significant market player for years to come.
Empower More Pet Owners to Buy Invisible Fences
Although invisible fences are generally cheaper than above-ground, traditional fences, pet owners often have additional pet-related expenses, which means consumer financing is a significant draw for these clients. For example, nearly 40% of dog owners report living on a tighter budget due to their dogs’ expenses. If you want your fence company to remain marketable to all pet owners, you should consider consumer financing.
Providing clients with low, fixed monthly payments, consumer financing means pet owners can purchase the fence they need and want without exceeding their budget. Your fence company directly benefits from consumer financing since affordability and payment flexibility translates into increased sales, expanded clientele, and ease of transactions.
Benefits of Selling with Monthly Payment Plans
Companies like United Consumer Financial Services ensure your fence company can sell more and get paid quickly. With low monthly payments, more clients can afford your products and services.
Credit applications are completed online, and application decision is provided in minutes so a project can begin immediately. UCFS offers a competitive APR compared to credit cards for finance amounts of $1,000 to $10,000. Business owners are paid within several days of the project completion, and then the consumer begins making repayment 30 days later to United Consumer Financial Services. By working with a trustworthy financing firm, your company can be confident that your clients will receive the care and support they need as they pay for their fence.
Consumer Financing Is a Win-Win Scenario
Offering consumer financing gives your fence company a competitive advantage. Ensuring more clients can afford your products and services means boosting sales, increasing revenue, and improving customer satisfaction. With consumer financing options, your clients can also receive the fence they want when they want at a price they can afford. Consumer financing is a win-win scenario for your company and your clients.
Are you interested in learning more about how you can get started with consumer financing for your company? Contact your United Consumer Financial Services team today to discover how easy and effective financing solutions can help grow your business.