BuyMax launched BuyFin Consumer Financing in Spring 2024 and franchise owners are already seeing its impact on their bottom lines. BuyFin is a modern, data-driven approach to consumer financing. Offered in conjunction with technology partners and financial institutions, the service helps contractors close more jobs while increasing average ticket size. Built-in AI decision-making allows for contractors and customers to have a streamlined experience.
In today's competitive home service industry, attracting and retaining customers requires going the extra mile. Offering financing options like BuyFin Consumer Financing can be a game-changer for your business. By providing flexible payment solutions, you can empower customers to address their needs, boost your average ticket size, close more deals, and ultimately build a stronger reputation.
Close More Deals
Consumer financing has revolutionized the home service industry by addressing a critical challenge: affordability. Many homeowners require essential services like HVAC repairs or plumbing installations but are deterred by significant upfront costs. BuyFin bridges this gap by providing flexible financing options that make these services accessible to a wider customer base.
If a customer is between two companies – one that offers financing and one that does not – going with the company that lessens their financial burden is a clear choice, especially when the economy is tough.
BuyFin removes the financial barrier for many customers who might otherwise delay necessary repairs due to upfront costs. By offering BuyFin financing options, you can convert more leads into paying customers.
Increase Average Ticket Size
Offering financing doesn’t just help customers say “yes!” to services, it allows them to make decisions based on what they want, not just what they can afford at the moment.Customers are more likely to opt for higher-priced services or additional upgrades when they can spread the cost over time. This translates to a significant boost in your average ticket size.
One Hour Heating & Air Conditioning and Benjamin Franklin Plumbing in Medina, OH, and Dayton, OH, saw a 61% and 34% increase in average ticket size respectively after implementing BuyFin. Jacob Schlegel, Director of Marketing & Operations for the locations says, “We offer three repair options to our customers – Need to Do, Should Do, or the Complete Solution. We are getting many more people doing the Complete Solution, which has helped boost our average ticket size.”
Increase Customer Satisfaction
BuyFin allows customers to address their home service needs without straining their budget—that makes for happier, loyal customers. Those customers are more likely to leave positive reviews, which can significantly impact a company's reputation and attract new clients. In today's digital age, word-of-mouth recommendations and online reviews are crucial for business growth. BuyFin can be a catalyst for both.
To learn more about how BuyFin can transform your business, contact us today.
