One of the most common scenarios for home improvement contractors is client surprise at the cost of their desired project. The result is one of two things: reduce the project scope or break up the project into phases. Neither is a good outcome for the homeowner or the contractor.
For the homeowner, it means having to settle for low end materials or repeated intrusions on their home, life and regular schedule. For the contractor, it means increased man hours, additional scheduling and missing out on a higher cost project and less satisfied customer.
Most successful contractors, like those at the top of the Remodeling 550 list, make it a point to offer their customers financing – almost 96% of the time. Those in the bottom 50 of the list offer financing just 83% of the time. Studies show that offering financing increases close rates by 18% and job size by 30%.
Foundation Finance offers the two most popular financing options: 12 or 18 months same-as-cash and traditional, long term financing.
Regardless of the financing plans offered, contractors who want to grow their business need to consider it for their clients.
This article originally appeared on Replacement Contractor