Many hot tub retailers operate with unrealized potential; their payment options limit their reach. By providing consumer financing options for their hot tubs, swim tubs, and spas, these businesses open the door to a larger market and more customers than ever. Offering flexible, accessible, affordable payment plans helps hot tub retailers engage more buyers, increase sales, and boost revenue. Join us as we walk through the top five ways consumer financing helps your hot tub business attract new customers and expand your reach.
Increase Affordability and Accessibility for More Customers
Consumer financing is your hot tub business’s key to increasing affordability and accessibility for your customers. Most consumers either can’t or don’t want to pay for their hot tubs outright; they need flexible payment options that allow for repayment over time.
Choosing the right consumer financing partner for your hot tub retail store is critical to expanding your customer base. A firm boasting high approval rates gives more shoppers access to financing that empowers their purchases. Instead of trying to save up for a hot tub purchase, putting the purchase on credit cards, or postponing the purchase altogether, consumer financing makes hot tub ownership a reality with affordable monthly payments. It helps you onboard customers who otherwise would not choose to purchase a tub or spa. Consumer financing allows more customers to choose the hot tub they want and buy it today, helping you increase your reach, sales, and average order values.
Payment Flexibility that Serves the Customer
Today’s consumers need flexible payment options, especially for big-ticket purchases like a hot tub. Many shoppers turn to credit cards to finance high-value products, but unfortunately, they’re then bombarded with astronomical APRs that crush them with high interest fees. On top of these exorbitant (and many times, hidden and surprising) fees, credit cards weigh down consumers with debt that can feel insurmountable. Hot tub retailers must provide customers with fair, reasonable payment flexibility that delivers value to the shopper. Consumer financing is the answer.
Offering consumer financing helps hot tub businesses provide a better customer experience before, during, and after the sale. Providing shoppers with a straightforward, accessible financing option relieves the stress of making a purchase decision and increases affordability. As shoppers choose the hot tub they want, financing empowers them to upgrade for just a few more dollars per payment. After the purchase, shoppers enjoy consistent rates and predictable payments.
Your payment options matter. Providing straightforward financing with reasonable, consistent rates helps your customers purchase the hot tub of their dreams without negatively affecting their planned monthly spending, savings account, or credit score. These benefits not only attract more buyers but also facilitate a positive experience that can lead to even more exposure and sales.
Facilitate a Near-Immediate Purchase Decision
Committing to a hot tub purchase is a significant decision—both financially and emotionally. Shoppers spend time and energy evaluating high-cost purchases like these, and the thought of spending thousands on a “non-necessary” item like a spa can cause them to reconsider their decisions and end the sale.
Partnering with a financing firm that offers a fast, simple, paperless application and a prompt credit decision helps facilitate big-ticket purchases. Reducing friction in the application process boosts shopper confidence and removes emotional barriers to purchase, helping retailers sell more hot tubs and spas.
Hot tub retailers must promote consumer financing options for this reason. If your customers don’t know you offer financing, they won’t be able to take advantage of it, and you’ll lose out on a sale while they lose the opportunity to add a hot tub to their space.
Help Customers Upgrade Their Hot Tub Purchases
Choosing a hot tub is a big decision. Shoppers want a unit that’s perfect for their space, has all the features they want, and will stand the test of time. When shoppers are relegated to putting their purchase on a credit card or pulling thousands from their savings account, they’ll feel pressured to settle for a lower-end model to keep costs low. Consumer financing options position those clients to choose the hot tub they want without affecting their credit or savings.
Financing through United Consumer Financial Services allows shoppers to upgrade their hot tub purchases while maintaining a low monthly payment. For just a few dollars more for each payment, shoppers can enjoy newer models with advanced features that enhance hot tub ownership. Consumer financing gives shoppers more bang for their buck. When they know they can maximize every dollar through the financing your store provides, they’ll be more likely to not only shop with you but also recommend your business to others.
Keep Cash Flow Steady
Partnering with a consumer financing firm like UCFS enhances virtually every aspect of your operations:
- Flexible, affordable financing attracts more customers seeking payment options.
- Affordable payment plans help increase average order values and sales volume.
- Your business reaps the benefits of increased sales and customer satisfaction without the overhead required to facilitate an in-house program.
In addition to these points, consumer financing helps maintain all-important cashflow for your hot tub retail business. Cashflow is the readily accessible resources your business needs for daily operations: keeping the lights on, covering payroll, adding inventory to your showroom, and even the smaller costs like office supplies. You need liquid cash to run your business, and when your payment is held up in accounts receivable, you’re stuck in limbo.
Providing consumer financing through a partner like UCFS allows you to reap all the benefits of affordable, accessible consumer financing, including consistent cashflow for your hot tub sales business. When you partner with UCFS, you receive payment directly into your account in just one to two days, giving you access to your earnings so you can expand your business and your market.
Sell More Hot Tubs with UCFS
Consumer financing makes bringing home a hot tub a reality for your customers. Partnering with UCFS for your hot tub business’s financing helps you sell more hot tubs all year long. Contact us today to learn how we can provide hot tub financing solutions that attract more buyers and help you expand your market.