Although the U.S. economy is making a big comeback, many Americans are still struggling to save. According to www.creditdonkey.com , less than half of Americans have enough money to cover an emergency repair of less than $500. Of course, this means that half of the people with broken HVAC systems can’t afford to fix them. While this may seem like a devastating blow to the HVAC industry, there is a silver lining to it all – financing. If you are not offering financing as an HVAC contractor, then you are only getting half of the business that you could get. A quick look at HVAC equipment sales stats validate the importance of offering financing. Equipment distributors report that the top 10% of producing dealers finance a whopping 70% of the equipment they sell.
Clearly, offering financing is the ticket to increased sales. So why don’t more HVAC contractors do it. The explanation is easy – it is a hassle. How can offering financing be made easier? One way is to streamline the sales process using software like P3. The P3 Equipment Sales Module allows contractors to offer payment amounts for equipment on the spot. It also affords customers the ability to apply immediately from the tablet which makes the process simple.
When you are thinking about ways to grown your business, think about offering financing. What would adding 50% to your bottom line mean to your business?
