Episode 46 Show Notes
Why don’t we as an industry offer more financing options for our furniture? Per Jim Wall, there is a certain element of risk, but in times like these offering financing options could be a game changer for your business. Listen as we talk about all things financing and contract interiors.
Jim is a strategic account manager at Marlin Capital Solutions and has been working to help our industry better understand the ways they can and should use financing in their business. Rather than fear the unknown, Jim helps dealers and brokers better understand the benefits in financing both to their customers and to their bottom line.
For instance, did you know that offering financing options can actually equal tax benefits for your customers. Listen in to learn the basics on this.
Plus, offering a financing option can seriously reduce overall sticker shock for your customers. Instead of looking at hundreds of thousands of dollars for furniture and other office materials, you could be showing them a sticker for a few thousand dollars over time.
You customers need your solutions regardless. The worst that can happen is that you continue to make as many cash sales as you currently do, but by offering financing you could bring in even more business.
Listen as we discuss the pros and cons of financing and why now really is the time to start offering this solution.
In this episode:
[02:26] Welcome to the show, Jim!
[02:53] Learn about his background, his business, and his journey in the industry.
[05:25] Why the furniture industry has never really embraced financing.
[08:32] My views on the lack of financing in the industry.
[10:53] Did you know that financing also provides tax benefits to your customer?
[14:07] How financing can alleviate sticker shock.
[16:16] Listen, as Jim tells us why it’s never a bad time to have a financing conversation.
[19:36] Jim wants you to ask the tough questions up front and then be ready with a solution.
[22:32] Fear of the unknown is why Jim believes companies aren’t offering financing more often.
[25:12] The customer says no thank you, I’ll pay cash is the worst thing that could happen if you suggest financing.
[27:10] The take away from this episode is that the dealer needs to find ways to increase sales and be positioned to offer solutions.
[28:37] Jim shares some next steps for dealers.
[30:56] Thank you for being on the show!
Links and Resources:
Connect with Jim:
Connect with Sid:
Sid on Instagram
The Trend Report is proudly sponsored by INDEAL. Partners in progress in the commercial interiors industry. To learn more about INDEAL, please visit their website at https://www.indeal.org/
The Trend Report introduction music is provided by: Werq by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4616-werq License: http://creativecommons.org/licenses/by/4.0/
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