Being an equipment supply business, you will find couple of methods for you to set yourself aside from your competition. Quality products and great account management services are obviously essential, out of the box maintaining a loyal clientele. Meanwhile, many suppliers will typically offer clients discounts that undercut your competition to shut the offer – however this means less revenue and much more sales to satisfy your targets.
There’s a method to offer greater value for your customers without heavy discounting, meaning better sales margins along with a healthier bottom-line for the business – have you thought about vendor finance?
Vendor Finance Advantages
Vendor finance enables you to offer attractive financing for your clients, therefore supplying an easy one-stop solution for his or her equipment needs. Clients could make low payment per month for using their equipment which will help preserve their funds flow – and you can steer clear of the typical heavy discounting required to close a purchase.
Seize control of the sales process – Rather of discounting, highlighting the advantages of low monthly obligations which are income friendly makes it simple to shut sales without stepping into the haggling process over cost.
Maintain good relationships – clients always prefer to cope with someone they trust, meaning a vendor finance option is a lot more appealing than applying for a financial loan via a separate bank or perhaps a lender. You are able to provide your clients having a complete solution and win their business for existence.
Tighten credit needs – by providing vendor finance, you are also improving the caliber of the shoppers you work with. By learning more about a business’s credit rating and running credit report checks for financing, you are able to more precisely forecast your personal revenue stream and predict your money flow.
Gain start up business – by providing a choice of affordable monthly obligations for equipment finance, you are able to expand your clientele to smaller sized companies and new operators who may be unable to make large upfront cash payments.