Plumbing Financing Boosts Customer Satisfaction and Grows Revenue
As a plumber, you’re in the business of solving problems for your customers. Whether it’s a leaky faucet, clogged drain, or even a complete home plumbing system overhaul, your clients trust you to get the job done right the first time around. However, the cost of a full-scale plumbing project can often be more than many homeowners can afford to pay for upfront. This is why providing customers with plumbing financing options can be a powerful sales tool that boosts ticket sizes, increases customer satisfaction, and ultimately grows your overall revenue.
There are a variety of options available for plumbing home improvement financing, including credit cards, personal loans, and home equity lines of credit. But with high interest rates, credit card limit limitations, and other drawbacks, these options are usually not a good choice for major plumbing repairs and upgrades.
While it’s true that credit card interest rates can be quite high, some plumbing companies choose to work with a finance provider to offer their own in-house plumbing customer financing programs. This eliminates the guesswork for techs who might be nervous about mentioning plumbing financing to their clients, and allows businesses to tailor their plans so all financed jobs, no matter the interest rate or payment plan chosen by the homeowner, remain profitable for the company.
With an integrated customer financing solution like ServiceTitan Mobile’s, the whole process is simple for plumbing companies. A partnered financial provider handles the loan particulars, and plumbing companies simply add their customized financing options into ServiceTitan. When a client selects a plan, they can complete a quick, online loan application, and find out their approval status instantly. The partnering lender also handles the borrowers’ monthly payments, which can be paid off over a flexible term of months or years.
While there are a number of plumbing financing providers, some of the most popular and respected include GreenSky, Service Finance, Turns, and Financeit. Each has its own terms, conditions, and requirements, but all offer a wide range of financing products for homeowners with different credit scores. Providing customers with multiple plumbing payment options can help them purchase the services they need, and may encourage them to opt for more expensive upgrades or add-on products that they might have otherwise passed on. This is why it’s important for plumbing businesses to partner with the best financing providers to ensure their clients’ needs are met. This will allow them to grow their client base and remain competitive in the industry.