Does Your Business Offer Business Equipment Leasing
To Your Customers?
If you sell equipment and don’t offer business equipment leasingto your business to business customers, then you’re likely leaving money on the table.Or if you have an existing business equipment leasing program, well suited to your equipment offering and your customer credit profile?
Both of these two questions should be asked and answered by anyone in the equipment resale market, either selling new equipment, used equipment, or a new and used mix.
Because the world of equipment leasing is mostly designed around business to business transactions.
Larger asset values are acquired by companies and there is a more well established resale market for larger assets in which security can be liquidated if required.
So for anyone in the business of selling equipment to other businesses, there can be plenty of potential lending and leasing companies out there that are more the capable and willing to finance your customer requirements.
The big challenge, however, is having a good fit in terms of financing abilities and service between your sales process and customer needs, and the abilities and requirements of an equipment leasing company.
Many times these relationships can be mismatched, resulting in very low close rates on applications which isn’t doing much to support sales.
In other situations, business owners do their own internal financing instead of trying to figure out how to leverage the programs that already exist. While the approach can prove effective, it also takes capital away from investing in inventory which can further impact the bottom line from another direction.
Business Equipment Leasing Should Improve The Sales Process
If a business leasing program is not offered or readily available to the customer at the time of sale, two things can happen that you want to avoid.
First, the customer, left to their own devices, cannot locate a suitable equipment leasing option to finance the sale which results in a lost transaction and related margin.
Second, in their hunt for financing, the customer comes across a competitor who directs them towards an equipment financing program that fits their needs and steals the sale from you.
Both of these situations should be avoided if at all possible and can be with the help of an equipment leasing specialist who can help you design and implement business equipment leasing program that meets both your requirements and the requirements of the majority of your customers.
To find out more about a business leasing program and how it can best be arranged for your customers, give us a call and we’ll go over everything with you and get all your questions answered.