Market revenue in home improvement is expected to grow to approximately $1.12 Billion by 2025, according to a 2019 Global Market Insights, Inc. report. HVAC replacement, water treatment, energy efficiency advancements and home upgrade projects are strong drivers prompting consumers to connect with home improvement contractors. How much of that billion dollar market revenue will you be able to add to your bottom line?
Your chances of getting a larger piece of that revenue pie are much stronger if you consistently offer financing to your customers. The most effective dealers offer financing as a part of every sales call, realizing its strong value to the homeowner–no matter what their income level or project size. Foundation Finance provides a mix of win-win elements: deep, flexible credit approvals, fair loan bids, fast loan decisions, a simple funding process and, most importantly, quick payment turnaround that keeps your cash flow flowing.
Competitive Consumer Financing
Recently, Andrea McCullion, Sr. VP, Sales & Marketing at Foundation Finance Company was invited to speak at the Electric & Gas Industries Association (EGIA) EPIC2019 (Educating Professionals in Contracting) conference in Las Vegas, NV. Senior executives from the top six industry finance lenders convened on a “Consumer Financing Power Panel” to deepen attendees’ understanding of financing within the home improvement industry.
Andrea is a Foundation Finance Company founder and knows very well that access to competitive consumer financing can make or break a sale. “One of the biggest things I hope contractors take away is the bottom-line impact financing can make on their businesses,” she states. “From 50% higher tickets, to >20% increases in closing rates, industry data shows how much more contractors who consistently offer financing can sell compared to those who don’t – especially when using a lender like Foundation Finance that can approve both ‘first look’ and ‘second look’ customers with a simple process flow.”
How is Foundation Finance different?
Its unique approach to underwriting lets the company buy deeper (lower FICO scores) and approve deals that other lenders pass on (second look loans). This broader approval philosophy helps contractors work with a larger variety of customers who come to them for improvements as well as financing needs.
Closing more deals, selling larger projects, getting paid…these are vital characteristics to successfully growing your business. Claim your share of the $Billion home improvement market growth by selling the customer a complete package: home improvements + financing! We’ll help you every step of the way. Call 1-855-241-0024 or email [email protected].