Remodeling contractors are frequently questioned, “What’s your markup?” from potential buyers. Do you know how you would answer? The idea is to respond with questions of your own to show you’re the expert. Here are a few suggestions on how to handle that question. Be confident with your pricing. It’s important to be clear and […]
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The residential remodeling industry has become increasingly competitive because many customers are focused on saving money by finding low cost solutions. Subsequently, more and more low-priced competitors are entering the market. Focus on these five areas to help increase your business’s profitability: Reducing costs Contact vendors and suppliers annually to make sure you are getting
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From the moment the sales representative steps foot in the customer’s door, it’s so important to have a structured sales process to follow to increase the chances of a successful sale. The sales process starts much in advance of the in-home sales call though. Advance Prep Research the client (and their home) ahead of time
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“Discount” financing is a term that scares many home improvement contractors. But without discount programs, a lot of potential buyers would not qualify for financing … which means fewer sales can be closed. And fewer sales means lower profits. What is discount financing? Many banks, credit unions and finance companies will only make loans to
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It’s a new year … time for resolutions to be made and a great time for change. It’s also a great time to review what is and isn’t working for you when it comes to your consumer financing programs. Here are a few ideas to help you start the new year right! 1. If you
Financing in the New Year Read More »
When dealing with a one-stop financing program, like the one offered by Foundation Finance Company, dealers often want to know how to minimize their discounts. For a finance company who offers full service A, B, C and D lending, there is a fine line between discounting enough to cover real losses and staying competitive with
Making the most of credit approvals Read More »
“Chop shop.” That’s a term some dealers use to describe a finance company that offers discount financing programs. Doesn’t sound very positive, does it? But without discount programs, many customers would not qualify for financing … which means fewer sales can be closed. And fewer sales means lower profits. What is discount financing? Many banks,
Discount financing … friend or foe? Read More »
You’ve probably seen the offers in furniture stores, “Big Box” retailers and doctor’s offices: “No payments for 90 days” or “12 months same-as-cash.” Dealers and retailers across many different industries have learned that deferred payment or same-as-cash promotions can be a powerful sales tool that not only helps them sell more, but also benefit their
Promotional Programs – Proven Selling Tools Read More »
Note: Use of the terms "Loan," "Lender" and "Borrower" is for ease of reference only. Financings are in the form of retail installment contracts ("RIC").
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