1. Why would I want finance in my business, I am already selling the product? We live in worrying times and this is the most often asked question when we speak to retailers. The reality is that you do not realize you have lost the client as they left the store or did not proceed with a quote. The reason they did this is that they cannot afford the purchase, even with discounted pricing. We are able to demonstrate that simply advertising and offering the existence of a purchase alternative can increase sales turnover by 14.00% within three months.
2. What if I already have access to a finance product? Great, that means you understand the savings we are offering your clients. Put very simply we offer a generous approval policy that opens your goods and services to a greater percentage of the community and this means the chance at great sales.
- Lower interest rates means clients can afford to borrow more or save thousands
- Bundling of products means multiple sales and greater profit margins
- Low Doc Rent program means no questions asked and ease of approval
- Fast approval, settlement and payment for your goods means less use of your overdraft
- Assistance to clients with small adverse credit histories or issues
- Payment of commission for the introduction of goods means greater income for your sales staff to keep them happy
Just the above opens 17% of the community to your business that you could not previously assist.
3. I am not supposed to use another finance program? You cannot be restricted from achieving sales, if your current provider will not help you, they cannot demand you do not provide an alternative to assist your client. We have no issue with being your second choice in lending. Use us when your preferred lender will not assist you.
4. Why don’t you have interest free periods? Quite simply, we are not interested in ripping people off! Our research demonstrates the majority of clients will not repay the finance within the interest free term and revert to high interest facilities that are often backdated to the start of the agreement which can cost your client thousands – you must preserve your reputation and integrity with your client as when they realize what they have signed up too, they will blame you not the lender.
5. Why wouldn’t the customer organize their own finance? You must control the sale, if the client walks out the door without a solution, it means they are free to shop around and compare. However let’s also look at why other finance is not suitable:
Home Loan – if the client was going to do this they would have done it before entering your business. It takes up to six weeks to increase a mortgage and many cannot do this anyway due to lack of equity of high fees an charges such as mortgage insurance.
Bank Personal Loan – again they would have done this before coming to you and takes around 10 days to complete. This can be very expensive in fees and charges also or they may have reasons the banks will not assist as their credit policy is very tight these days.
Credit Card – they need the credit card to live on in most cases and a new credit card takes up to 28 days to arrive and this allows your client to “shop around”
Cash – your client needs this for household expenses or emergencies. You need to help your client with a solution to buy today and repay over time (and faster if they wish)
6. My customer wants interest free? They only want it as they believe it is true. A simple explanation and comparison of charges demonstrate we can save a client up to $7,208.80 in fees and changes on a $5,000.00 purchase. This is frightening and when you explain this to the client you will find they come around very quickly.
7. How would I market Finance? To ensure you remain profitable, it is imperative you have a finance solution that allows your customer to save, and more importantly, assists your business to profit and grow, well into the future.
You must actively promote our finance alternative internally and through marketing programs. Your clients will not ask for finance due to embarrassment they feel when asking, so it must be offered. Here are a few ways to make this happen:
- Display window posters so your clients can clearly see that finance is available
- Place supplied customer brochures on the sales counter
- Include the weekly repayment amount on all quotes and invoices
- Display swing tickets that show weekly repayments to create sales interest
- Discuss the benefits of promoting weekly repayments instead of advertising full price costs with staff
- Bundle goods and services into packages to gain further sales and maintain full profit margins
- Include weekly repayments for all goods and services in all advertising
What do I do now?
That is simple, contact your Area Manager today on 1300 690 227 and arrange for them to drop by for a chat. You are under no obligation to proceed and you will be able to ask any more question you may have prepared. Alternatively you can contact our National Development Manager, Jason Hodson by email at to ask any questions you may have without fear of being pressured.
Please take the time to absorb all of this information and the possibilities we have presented to you. Imagine how much easier you and your sales staff will now find selling your goods and services. Imagine the increase in cash flow you will enjoy in these tough times and the advantage you will have over your competitors.
From the largest of organizations to the smallest of family businesses we have extensively trialed our systems ands facilities to ensure we can cater for your needs today and tomorrow.
Contact us today and Activate your business.
