The Power of High Ticket Financing: How It Can Fuel Your Business Expansion
Published June 06, 2024
The Power of High Ticket Financing: How It Can Fuel Your Business Expansion
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Small business owners eager to expand operations must seize opportunities for business growth whenever and wherever possible. Customer financing programs through Fund My Contract can fuel your business expansion by making high ticket items more affordable for a wider range of potential customers.
Growth opportunities can come in all forms for small businesses looking to succeed in a crowded marketplace rife with pitfalls and setbacks. Disruption and uncertainty around every corner means making smart business decisions that fuel growth. Consumer financing is the smartest decision you’ll make because financing offers many advantages for potentially increasing sales, improving customer satisfaction and building brand loyalty in a competitive market.
Why Offer Consumer Financing?
Consumer financing unlocks the untapped potential in a wider audience of new customers who may have been shut out from buying your products or engaging your services due to the cost. The biggest obstacle to converting sales on big ticket items is the customer’s inability to pay for the transaction in one lump sum.
The customer either lacks the financial resources available to do so or would prefer not to pay in full because it would disrupt their monthly budget. So the alternative is to walk away from the transaction and revisit later, but it’s already too late to generate revenue from that customer interaction. Whether they return at a future date or not is a coin toss.
Are you willing to gamble the future of your business on that coin toss? Wouldn’t you rather ensure the stability of your business with revenue growth you can count on, instead of leaving it up to chance?
Customer Financing Programs and Business Growth
Consumer financing puts purchasing power back into the hands of your customers and that can significantly influence consumer behavior to proceed with converting a sale and perhaps even spending more than initially intended.
But there are many more benefits to incorporating consumer financing as an effective and lucrative solution for business expansion and increased cash flow.
More Customers Buying More Products
Small business owners who offer new products or services to the public can open up new revenue growth opportunities which, in turn, expands their customer base.
Financing programs through Fund My Contract can boost sales and help your business reach sales projections with steady cash flow as customers are more willing to close a sale instead of worrying about how they’re going to pay for the products or services you offer.
You’ve empowered the customer to make a purchasing decision with confidence. That can lead to sales on more big ticket items and even urge your customers to splurge on deluxe products that represent a larger profit and substantial growth opportunities for your business.
Build Brand Identity and Foster Customer Loyalty
Potential customers who are interested in your product or service may have a barrier to conversion in a lack of available funds to pay for the item in one lump sum.
When you can help the customer secure financing to lower that barrier to conversion using an alternative payment option that allows the customer to complete the purchase by paying over time across a series of low monthly installments with competitive interest rates, the word will spread…and fast.
Happy customers leave positive feedback. That inspires new customers to engage with your business which turns those potential customers into repeat business customers who know they can rely on you to offer quality products and services at fair prices and financing programs that increase their purchasing power.
Before you know it, your business has earned a positive reputation that builds your brand’s identity in the marketplace and fosters the kind of loyalty that every business owner dreams of.
Faster Payments Equals Faster Business Growth
Perhaps the most advantageous aspect of consumer financing options for your business is the ability to get paid faster and generate more revenue for your business in less time.
How does that work? It’s simple – when the customer wants to buy your product or engage your services, he or she is able to secure financing with one of the programs you offer through Fund My Contract. Once the customer is approved and funded, those monies go directly to your business in full. The customer pays in monthly installments but your business receives the total amount all at once.
That means you get paid faster, without the hassle of chasing down unpaid invoices and collecting on outstanding balances. You generate revenue on your products and services, allowing you to invest that new income back into the business, helping it grow faster and choosing paths for expansion that result in greater financial leverage for your small business.
Healthy Profit Margins to Keep Business Expansion on Track
Businesses that are having trouble staying afloat or seeking out new and inventive ways to get ahead in the marketplace will sometimes resort to silly sales gimmicks and marketing tactics that offer deep discounts and reduced prices to drum up new customers.
Unfortunately, these types of marketing campaigns often do more harm than good as it signals to the community at large that your company is failing and reducing your prices expedites the inevitable as you start to cut deeply into your profit margins. Less profit dramatically reduces your ability to expand.
But you can avoid this downward spiral by teaming up with Fund My Contract, our vast network of third-party lenders can have you rethinking your marketing approach by addressing customer needs with some of the most innovative financing programs in the industry.
Drive success by closing more sales with more customers when you offer consumer financing programs that can revitalize revenue growth instead of giving the store away with goofy marketing strategies before going out of business.
How Your Business Growth Thrives with Consumer Financing
Small businesses eager to accelerate business expansion and growth opportunities with consumer financing through Fund My Contract.
So how can your business thrive with financing? Start by reaching out to one of our dedicated consumer financing experts who will discuss your business needs and the challenges you face in maintaining consistent cash flow and revenue growth. We connect you with our diverse network of third-party lenders who are ready to help you bring financing access to more customers with a variety of features.
You set the criteria and our network of lenders will develop the right programs to meet the demands of your customer base. There are programs that place a greater emphasis on low monthly payments and some programs that provide more flexibility in giving the customer additional time to reimburse the lender once the financing is approved and the agreement executed.
Some small business owners may have their sights set on building an increased demand in their products or services as well as the financing programs they choose to offer to their customer base. You can work with lenders to offer a limited time, promotional interest rate that can spark urgency in those customers who wish to participate in such a program when they are ready to make a purchase with your business.
All the tools for revenue growth are at your disposal when you work with Fund My Contract to accelerate your business growth trajectory with consumer financing.
Faster Approvals for Robust Revenue Growth
The Fund My Contract financing model puts the power of consumer financing at your fingertips with some of the most innovative and unique customer financing programs in the industry today.
We’ve even made it easier and quicker for your customers to get approved for the financing they need to support your business. Our convenient online portal requests some basic personal information from the customer along with the amount needed for financing.
After the application is filled out and submitted, your customers find out which financing programs are available to them and you can discuss the benefits of each program to help them decide which one best suits their needs.
An initial approval can take minutes which means your customers receive approvals much faster and you can continue towards closing the transaction on a sale, generating more revenue to expand your business. We want to remove the obstacles from the purchasing process and that means reducing the amount of time your business must wait to bring in more income and increase your profits.
Fast approvals drive sales and your customer doesn’t get cold feet waiting for an answer.
Get Fund My Contract in Your Corner
Strategic partnerships are important for small businesses to succeed. If your business is experiencing slow growth and a drop in sales and revenue, it’s time to partner up with Fund My Contract. We can work with you to provide the kind of high ticket financing programs proven to revitalize stagnant businesses and help you compete in a crowded field of competitors.
Give us a call today and let’s develop a plan for success that can attract new customers, scale operations, fuel business expansion, and accelerate growth.
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