So you own an equipment or software sales company or you are a sales rep of the like. You have a busy life and you struggle every day to manage your time so you concentrate on real sales opportunities.
Proactively offering potential customers financing options is becoming a huge movement in the business to business environment. Why? Because it helps businesses with limited cash and gives you more potential customers than ever before. Here is how it works, you, form a partnership with an equipment and software financing company. Once they have filled you in on all the details, you can show all potential customers that you offer many ways to pay you including financing options. If they decide to use the financing options, the financing company will pay your directly, you make the same amount of money (maybe more) you would have made if the customer paid you directly. Simple enough?
Now you’re probably already wondering, what’s the point? Why is offering financing such a big deal and how does it make my business better? To answer this question, here are three little facts provided by GSG Capital about financing that you probably didn’t know:
Fact #1: Offering Financing Helps You Sell to Those That Wouldn’t Be Able to Buy Otherwise.
Offering financing broadens your potential customer pool because it makes it possible for more companies to buy your product. For those businesses that have excellent credit or for those that have less than stellar credit, you can increase the opportunity to close business because your finance partner will assume the credit risk.
Fact #2: Setting Up A Financing Program is Both Easy and Inexpensive
By inexpensive we actually mean free. Basically you’re forming a partnership with an outside financing company that specializes in equipment and software financing. In exchange for letting the finance company work with you to make it easy to offer financing and work with your potential customers, they will take over the financing process, work directly with your potential customer to get all documents executed and handle all the follow-up. All you have to do is opt in. And contrary to common belief, there are no up-front costs to opening a program like this. Many times you will be paid directly from the financing company faster that directly from your potential customer.
Fact #3: There Is No Risk To You
As mentioned above, you will be working directly with a finance company. The finance company is responsible for evaluating your potential customer’s ability to pay them back for the financing. Once the finance company pays you the invoiced amount in full, the risk of the customer making payments shifts to the finance company. In any situation, the customer and the finance company would always prefer that the equipment or software operate as sold. You eliminate the payment risk.
So if someone told you they could help you increase sales, it will not cost you anything and you reduce your payment risk. Would you do it? Call on GSG Capital for sales help.