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How to Grow Your Business Profitably by Offering Financing
This may seem like a secret, but it’s not. HVAC dealers, improvement contractors, and generator dealers have been using financing to grow their businesses for years. The smart ones have turned it into an art form, but for the rest of the industry, it’s been gaining ground. First, let’s debunk some general myths about financing:…
Facts about Consumer Financing for HVAC Dealers, Generator Dealers and Contractors
Here are some common facts about consumer financing. 50% of all home improvement projects over $5,000 are financed. Over 35% of all homeowners search for financing options before starting the buying process. The average Dealer generates over $1 million in sales with 40% in financing business and 60% of cash/credit card sales. Credit Card Sales…
Financing Home Improvement with Credit Card
Financing Home Improvement with Credit Card Consumer Credit Card Spend for Home Improvement on the Rise, Houzz-Synchrony Study Finds Highest usage among millennials; Uptake of promotional financing One-third of homeowners used a credit card to pay for home renovations in 2017, according to a study released today by Houzz, Inc., in collaboration with Synchrony (NYSE:SYF), on…
Jumping on this home renovation trend could cost you
Jumping on this home renovation trend could cost you Jumping on this home renovation trend could cost you 1 in 3 homeowners used a credit card to pay for at least part of a home remodeling project in 2017, according to a new report. A quarter of those homeowners used credit to take advantage of…