How Roof Financing Improves Cash Flow for Contractors
How Roof Financing Improves Cash Flow for Contractors
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Roofing companies that are looking for business growth opportunities should consider implementing financing options to make their services more accessible to a wider customer base. When your customers can’t afford to pay for the roofing services you provide, the future of your roofing company may be left in doubt.
Fund My Contract offers some of the most unique and innovative financing programs available in the roofing industry and our network of third party lenders works with roofing contractors like you to develop financing solutions that help improve your roofing company’s cash flow.
Roofing Contractors and Cash Flow Issues
Many roofing contractors can face dire challenges to the financial stability of their businesses as they contend with a variety of financial and operational difficulties due to a lack of consistent cash flow. Project delays, increased labor costs, and an inability to bid on new jobs leading to missed opportunities are just some of the most common barriers to success that roofing companies can face when they fail to generate revenue. These challenges can have a snowball effect on your company’s credit score and the reputation of your roofing business in your region.
That’s why managing cash flow issues is so important and working with Fund My Contract can be a catalyst towards accelerating business growth by making your services more affordable to more potential customers who may be priced out of roofing projects they need because they are unable to cover the costs of the work in one lump sum.
If your customers can’t afford to hire your roofing business, they will look to hire your competitors who offer lower rates with the quality to match.
Offer Financing Options for Greater Affordability
A roofing contractor needs to exploit any and all revenue streams available to ensure the long term success of the business. But when affordability becomes a significant barrier to conversion for potential customers, those revenue streams are cut off and the financial health of the roofing company will suffer.
Fund My Contract is dedicated to helping your business thrive instead of merely survive by overcoming the common financial issues that can doom small business owners from the start.
Financing options give you a greater advantage in a competitive market by allowing your customers to pay over time instead of all at once.
The truth is most customers who need roof repairs and other services in which you specialize can’t afford the upfront costs on that work and so they refrain from hiring your roofing business.
That can dramatically impact healthy cash flow.
But when you work with Fund My Contract, our network of third party lenders can make your services more affordable to more customers by allowing them to pay for the costs of those services over a series of low monthly installments with flexible payment terms and promotional interest rates for customers who qualify.
Giving your customers the financial resources to hire your business helps to generate revenue and improve cash flow because you are no longer chasing after monies owed on unpaid invoices and customers who fail to make timely payments on the work you’ve performed. With financing options through Fund My Contract, your customers no longer have to worry about affording the cost of work in an upfront payment at the time of the transaction. Now they have a choice of paying over time and selecting from one or more payment options that your business provides. The result is an increase in jobs, higher revenues, and no more pursuing late payments like a collections agent.
Maintain Profit Margins for Sustained Growth
Struggling roofing businesses will try all kinds of strategies and tactics to keep their heads above water. That often includes reducing their rates in a last-ditch effort to attract new customers. Cutting into your profit margins when your initial costs remain the same is a recipe for accelerated failure and when you’re trying to succeed in a competitive market, you need every advantage on your side.
Reducing your profits won’t improve your roofing company’s fortunes and that’s why many contractors decide to offer financing options instead. Roof financing plans improve cash flow by giving more customers the capability to hire your professional services when they may not have been able to do so before.
Roofing Companies Generate Revenue Faster with Fund My Contract
Cash flow issues can have a detrimental impact on the financial stability of your roofing business. That’s why Fund My Contract has made sure that your business is the only one that benefits from offering financing options to your customer base. Our network of third party lenders has a wide range of financing programs that get your customers approved quicker and your business paid faster.
Best of all, your business benefits by receiving payments through “closed-loop” financing which means that after a customer is approved for funding through one of our third-party financiers, those funds can only be spent hiring your business for the purpose of purchasing your products and services, no one else’s. The funding goes directly to your roofing business when your professional services are rendered and the bill comes due.
Should the customer decide, for any reason, not to move forward with the roofing project for which he or she applied and was approved for financing through your roofing business, the financing agreement is canceled. Those funds may not be spent with any other roofing company but yours. When you work with Fund My Contract, we are dedicated to helping your business grow and those funds should be spent helping your business do just that.
Improve Cash Flow and Customer Satisfaction
Don’t miss out on future growth opportunities because your customers can’t afford the costs of your roofing services. Now you can provide access to affordable financing plans that put spending power back in the hands of your customers, which not only allows them to greenlight the roofing projects they need you to perform, but allows them to spend more when doing it.
Enjoy more sales and higher priced invoices as your customers make better informed decisions on how and when they spend their money. Fund My Contract reduces the barriers to conversion due to costs.
Reach out today to learn more about how consumer financing can generate revenue, improve cash flow, and increase customer satisfaction by giving them the access they want to the financing they need for completing the improvement projects on their homes.
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