In today’s market, offering financing solutions is a smart way for HVAC contractors to stay competitive and grow their business. With many homeowners feeling the pressure of rising costs, financing can help make HVAC purchases more affordable and increase sales.
Why Financing is Important for HVAC Contractors
A large number of Americans are living paycheck to paycheck, and this makes it harder for them to make big upfront payments for HVAC systems or repairs. Offering financing gives homeowners an easy way to spread out the cost into manageable monthly payments.
When financing options are available, customers are more likely to commit to a purchase. In fact, many contractors report that offering financing helps boost their sales significantly. Not only does it help with system replacements, but financing can also make repairs more affordable, giving customers more flexibility to maintain their systems.
Boost Your Sales with Financing Options
Financing doesn’t just help your customers, it also helps you. When you offer financing, customers tend to spend more because they can manage larger payments. Instead of paying all at once, they can finance the cost, leading to larger transactions. Contractors who offer financing typically see a 10% to 39% increase in average ticket size, according to research from Synchrony, a leading provider of consumer financing solutions.
Make Financing Part of the Conversation
One of the biggest mistakes HVAC contractors make is assuming that customers can’t afford to finance. The reality is, many homeowners would prefer to finance their HVAC purchases instead of depleting their savings. Always present financing as an option. For example, you can say, “We can make this work for $250 a month—how does that sound?” This makes it easier for customers to make a decision without feeling the stress of a large upfront cost.
Some Tips for Offering Financing:
- Train Your Team: Make sure your techs and salespeople know how to present financing in a natural,
helpful way. They should offer it early in the conversation and explain how it can make the process
easier for the homeowner.
- Don’t Assume: Never assume a customer can’t afford financing. Everyone’s financial situation is
different, and offering financing can help open the door for a sale.
- Highlight Flexibility: Let your customers know that financing options are flexible and designed to fit their budget. Whether it’s low monthly payments or longer terms, they’ll appreciate the choice.
- Promote Financing in Marketing: Use your website, social media, and ads to promote the availability of financing. Customers will appreciate knowing that financing is an option before they even call you.
More Ways to Boost Sales
While financing is a great tool, it’s just one of many ways to boost your HVAC sales. Here are a few additional ideas to help you stay competitive:
- Offer Maintenance:These plans provide steady, recurring revenue and help keep customers loyal.
- Promote Energy Efficiency:Many customers are looking for ways to save money on energy bills. Show them how upgrading their HVAC system can help them save long-term.
- Leverage Seasonal Promotions:Run special deals during peak seasons to encourage customers to take action and replace old systems.
Conclusion
Financing is an easy way to boost sales and provide a valuable service to your customers. By offering flexible payment options, you make it easier for homeowners to get the HVAC services they need. Don’t let the competition pass you by—make financing part of your offering today!
Need more marketing tips to grow your HVAC business? Bedrock Markets specializes in helping HVAC contractors with simple, effective strategies. Get in touch to learn more!
