Accelerate Your Earnings with Coach and Consultant Client Financing
Published April 17, 2024
Accelerate Your Earnings with Coach and Consultant Client Financing
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Business growth is the top priority of many business owners who offer financing to customers as a way to generate revenue faster and avoid wasting time chasing payments that are perpetually overdue.
A successful business is one that continues earning income, meeting projections, and satisfying current clients while attracting new, potential clients on a regular basis. Coaches and consultants who fall short of these expectations need to try a new approach to sell more clients on their coaching programs and consulting services.
Fund My Contract can help. We have worked with many coaches and consulting firms looking for a fresh perspective on keeping their unique businesses afloat. Our network of third party lenders assist coaches and consultants in developing a robust menu of innovative financing programs designed to meet the particular needs of your clients who want to hire your consulting business, but may not have the available cash on hand to pay for those services in full when payment is due.
Implementing a set of different payment plans that cater to your customers can be a much-needed boost for business coaches and consultants who want to take their entrepreneurial journey to the next level and ensure the success of their coaching program. Only then can you accelerate your earnings, attracting new clients who now have access to your coaching programs and giving your current clients another reason why they trust you as a proven authority on offering solutions to some of the most difficult challenges.
Consulting Services Financing Helps You Reach a Wider Audience
When you provide financing options to your customers, you’re giving more people an opportunity to participate in your coaching programs because they have more choices when it comes to paying for the services they need. Cash flow can be a challenge for some clients, they can afford to cover the costs of your consulting fee, they just can’t afford to pay for those services right now, all at once.
But when you offer financing options through Fund My Contract, you reach a wider audience and offer your coaching services to more potential clients who can now pay for your courses across a series of fixed monthly payments. As a result, you generate more revenue from more clients who have been eyeing your coaching program for some time but haven’t been able to fit the full cost into their monthly budget.
Stimulate Business Growth with More Revenue
Working with Fund My Contract to expand your client base comes with a range of benefits to help you course correct when your business is dwindling. Don’t reduce your prices to attract more customers. That only cuts into your bottom line, making it tougher to succeed.
Breaking down the barriers to engagement and conversion starts with giving your customers an easier way to pay for hiring your expertise. The sooner you earn more income, the quicker your coaching business can grow. Expansion in any industry can be a tough nut to crack, but where coaching and consulting services are concerned, growth depends on your customers hiring your services when it’s best for your business, not when those customers can finally afford to pay for those services.
How Financing Works to Keep Your Consulting Business in the Black
The driving factor for bringing more clients to your door is affordability. They already know you’re the leading expert in your field, they’re well aware that your coaching programs have helped many other clients, they’ve read your customer reviews so they know you come highly recommended.
What they don’t know is how they’re going to pay for your services. They can’t fit your consulting fees into their budget this week or this month. But, as much as they try, each passing month doesn’t put them in a more advantageous financial situation.
So they refrain from hiring you. That means one less client in your coaching program. One less consulting gig that could represent a large dollar amount on that invoice. That income is lost for the time being and who knows if or when that potential client will return.
But when you provide a series of financing programs that make your costs more affordable to the potential client, he or she doesn’t have to wait any longer and neither do you. The client hires your services, enrolls in your course, and both parties get what they want.
Think about how many potential clients are waiting to reach out to you but they can’t afford the costs of your programs or services right now. They may assure themselves that things will be better next month, yet the months pass by and they never sign up which means that’s revenue you’ve missed.
But when you work with Fund My Contract to provide financing to those clients, that’s revenue you’re bringing in faster and keeping your business in the black as a result. You set the types of financing programs you want to offer and the client chooses the options that fits him or her best.
For most clients, the idea of paying for the work over low monthly payments is enticing. Other clients may relish the idea of a financing program that offers a set of flexible terms that allows for more time to reimburse the lender in full.
Whether it’s a promotional interest rate or a smooth application process that’s much easier and quicker than conventional lenders, you can provide your client base with the financing programs that make the most sense.
Why Coach Financing with Fund My Contract is the Faster Route to Long Term Success
Get Paid in Full from the Start
Coach financing allows for customers to get involved in your consulting programs without being forced to pay for those services all in one amount. When the client decides that he or she wants to take advantage of one of the financing programs you offer, the arrangement may allow for easy monthly installments to pay for the services in full.
That doesn’t mean you are waiting to get all of your compensation during that time. Your coaching business receives the full amount of the fee from that client in full, at once. You get paid your funds upfront, before the coaching program has commenced.
Once you receive payment for the coaching services you provide, your responsibility in the financing arrangement comes to an end for that client. You’ve received what you are owed, in full. No exceptions.
The client and the lender are bound to an arrangement that states how and when the monthly payments are to be made. If the client misses a payment or otherwise defaults on the financing agreement, you keep the money that was paid to you under the agreement for services rendered. You are not required to return those funds. Those are yours to keep.
Financing Means More Conversions and Fewer Objections
Clients who want to take your courses but don’t have the available funds on hand right now can apply for one of the financing programs you offer. The application process is simple, requiring only some personal data about the client, his or her credit and employment histories are analyzed and the client can get an answer in just a matter of minutes whether he or she has been approved and the financing program for which they qualify.
The application is then processed, reviewed, and if the client qualifies for the program he or she has requested, the funds are transferred to the client and may only be used to pay for consulting services offered by your coaching business.
When the application and approval processes are quick and straightforward, your business benefits as more potential clients become paying customers, with an increase in revenue that helps your business expand and grow.
Faster Approvals for Clients Who Qualify
When your clients can get approved faster, that makes for smart business decisions on your part as you’re giving your customers access to the financing they need in order to pay for the services they require. The approval process for each client is no different than any other financing application and approval analysis, this might put some hesitation in those clients who are concerned they may not qualify due to a lower credit score or complicated credit history.
The good news is that, while credit score and history do play important roles in determining whether or not to provide that client with the financing needed for higher ticket programs such as your coaching seminar or consulting course, creditworthiness is determined through additional factors.
The other components that also have an influence on whether or not a client is approved include their current debt to income ratio, employment history and current place of employment including how long that individual has been employed there, history of bankruptcy or unpaid bills that are outstanding over an excessive period of time. All of these are considered when deciding on an approval or rejection of a client’s financing application.
Once the determination has been made, the process for getting the requested amount to the client and, in turn, sent to you as payment for your services is very quick, sometimes as soon as two to three weeks. When you work with Fund My Contract, you don’t have to wait to generate the revenue you need to succeed.
Get Your Coaching Business Back on Track with Fund My Contract
Are you ready to give your clients access to some of the best financing programs in the industry? Then it’s time to call the coach financing experts at Fund My Contract. Let’s discuss the barriers to conversion that are keeping prospective clients from signing up for your coaching sessions and build the right set of financing programs to overcome those barriers and bring more paying customers to your coaching business.
Why wait? It’s a crowded market with a lot of competitors all vying for the same customer base. Get a leg up on the competition and urge your clients to reach their full potential by helping them afford the cost of your training courses with financing programs through Fund My Contract.
Closed Loop Coach Financing
To reiterate, once the client has received the financing, it can only be applied for spending with your coach business. The money is not allowed to be used elsewhere with another consultant or similar competitor. In fact, that money is earmarked solely for use with your coaching or consulting business. After all, you were the reason that client was able to access the financing in the first place. It wouldn’t be very fair if that money could be used to hire your competitor instead of with your business.
That’s why Fund My Contract offers closed loop financing for all small business owners with whom we work. Our main goal is to see your business succeed and grow. Business growth is best achieved when revenue is generated in a timely manner.
Maintain a Competitive Advantage
Every small business owner is looking for an edge in the marketplace. When you work with Fund My Contract, you are getting a leg up on the competition by offering real choices for helping clients pay for your services.
Client acquisition is vital for coaching businesses and when you can give potential clients the ability to pay for the services they need at a price they can afford, you’re going to get a whole lot more paying customers coming through the door. More choices means more opportunities and that puts your business ahead of the other guys.
Make Fund My Contract a Part of Your Business Plan
Our network of third party lending partners are ready to discuss how coach financing can help accelerate your earnings and customize the best financing program that best suit your clients. Talk to one of our financing experts today and find out how your consulting business can experience a significant increase in sales and revenue this year and the next.
Financing with Fund My Contract can do more than just increase sales and help your business take in additional revenue, it can also boost customer satisfaction. One new client posts a positive review about your business online and that can lead to many more new clients inquiring about your consulting services and participating in the financing programs you offer in order to enroll in the courses you provide.
Why wait to start generating more revenue? Accelerate your earnings today with one call to Fund My Contract. Our track record is second to none. Let us help you expand your customer base and grow your business.
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