Flooring companies must identify and implement practical ways to support business growth in this competitive market. Increasing accessibility, maximizing purchasing power, and boosting cash flow are crucial to a flourishing flooring business.
Whether you’re a retailer, an installation company, or both, consumer financing opens the doors to long-term, exponential growth. That’s why choosing the right financing partner is a must. Read on as we explore how to choose the best consumer financing firm for your flooring company and how offering financing will help your business.
The Power of Consumer Financing
Consumer financing is a vital tool in bringing customers along through the sales process. A simple, accessible financing option can help you secure the sale, especially when a shopper hesitates to purchase. Consumer financing empowers your customers to choose the flooring options and services they want –– when they want –– without altering planned monthly spending or touching their savings accounts.
A proven financing firm can help simplify your flooring sales, making high-value flooring affordable through structured monthly payment plans. Introduce financing options early on and ensure the consumer understands the increased flexibility, affordability, and purchasing power that financing affords them.
Your customers aren’t the only ones who benefit from financing their purchases; you do, too. Offering financing can increase your average order value, boost your sales volume, and often help your team close the sale, increasing the likelihood of future purchases from that individual.
Consumer financing is a powerful tool for your flooring company. Let’s consider what you should look for as you explore financing options.
What to Look for in a Consumer Financing Partner
As you can see, offering consumer financing benefits your customers and your flooring company. With so many options available, how can you ensure you choose the right partner?
Below, we explore a few “musts” when considering a consumer financing partner. Choose a financing firm that checks these boxes, and you and your buyers will win.
A Quick, Convenient Application Process
Big-ticket purchases can intimidate consumers. The stress of allocating monthly income or savings or moving money around accounts often causes shoppers to postpone their flooring purchase or abandon it altogether.
However, choosing a consumer financing program with a quick, convenient application process disarms hesitant shoppers and helps them along toward purchase. A fast application and approval process reduces friction in the buyer’s journey, giving them the confidence that they can realistically and affordably choose their flooring and begin installation today.
United Consumer Financial Services puts you and your customers at the center of everything we do. Our simple, convenient application process allows you to proceed with the sale quickly, securing customer confidence and capitalizing on the energy of the shopping experience.
UCFS simplifies repayment with a streamlined financing process that helps you close the sale. When financing options are straightforward, consumers see they can afford the products they want and even upgrade their flooring purchases. Within minutes of application, they will receive a notice of approval that allows you to continue the sale and deliver an exceptional customer experience that primes them to return for future flooring purchases.
Prompt Repayment to Improve Cash Flow
Liquid capital plays a crucial role in your flooring company’s success. Positive cash flow enables you to execute day-to-day operations while investing those resources into your business. When choosing your consumer financing partner, you want a program that provides prompt compensation to your flooring company so you can utilize the cash earned from your sales.
For businesses that handle their own customer repayments, funds can be trapped in accounts receivables. The money is yours; you deserve access to it. That’s what UCFS provides through our consumer financing program. We send payment one to two days after your customer signs their project completion certificate.
Your business relies on a positive cash flow stream. Partnering with UCFS for consumer financing ensures prompt access to your earnings so you can invest them back into your business.
High Approval Rates
Consumer financing expands your reach and allows you to market and cater to an expanded customer base. Less-than-ideal credit scores or limited cash reserves shouldn’t hinder a consumer’s opportunity to shop with you.
Consumer financing programs with a high approval rate significantly boost the accessibility of your flooring for a broader range of customers. By choosing a financing partner with high approval rates, flooring retailers and installers can help remove financial barriers that might otherwise deter potential buyers. As a result, you can tap into previously underserved markets, such as first-time homeowners, young professionals, or those rebuilding their credit.
Financing from UCFS empowers your customers to invest in higher-quality flooring solutions or larger-scale projects they may have thought impossible due to financial constraints. The increased affordability and flexibility afforded by high-approval financing allows you to cater to a broader spectrum of consumers, driving sales and fostering customer loyalty.
Worry-Free Payment Flexibility
Financing makes almost every aspect of a purchase easier. By breaking down a large, lump sum cost into affordable, set, monthly payments, you increase customer purchasing power, confidence, and satisfaction with your business. Consumer can avoid the cost of placing a large lump sum on a credit card with upward of 29.99% interest. Large amounts on a credit card can be daunting, especially if paying the monthly minimum means paying off a credit card purchase a decade later!
UCFS sets your customers up with an automatic payment that helps ensure they don’t miss a payment. Monthly payment for 2 or 3 years means they know exactly what to budget for and they can set when it will be withdrawn from their bank account or charge to their debit or credit card. Smaller, affordable, scheduled payments can make their lives easier, and they get the flooring they’ve been dreaming of – or need.
Shoppers want simplicity and affordability, and financing from UCFS makes both possible.
Consumer Financing Built for Your Flooring Company
The most crucial aspect of your consumer financing partner is that they’re prepared to serve you and your customers. With more than four decades of service, United Consumer Financial Services has crafted our program to serve flooring businesses like yours while meeting the needs of your varied customer base.
Consumer financing allows you to expand what’s possible with your flooring company. Reach out to our team to learn how you can take advantage of our consumer financing program and increase your sales and revenue starting now.