The Great Recession changed the purchasing habits of individuals, and many tightened their wallets. However, for the home improvement industry, spending increased as more homeowners opted to stay in their current home and remodel, rather than move.
For the home improvement contractor, this is good news. However, it’s still critical to have the right plan and strategic business partners in place to ensure you’re capturing as much business as possible in a competitive market. Here are 3 tips that can help:
One strategic business partner that every contractor should have is EnerBank USA®, the largest specialized home improvement lender in the country. Just think of it, by offering your customers more ways to pay, like a Same-As-Cash Loan and a low monthly payment loan option, you are giving them the flexibility to choose the option that works best for them and their unique financial needs.
And, offering payment options is good for you too—homeowners who finance their improvement projects spend 42% more than those who pay cash. Why is this? Because when a homeowner has access to attractive payment options, they can make decisions based on what they really want for their home and not just based on cost.
So, if you aren’t offering a choice of payment options to your customers, visit EnerBank.com/contractors to learn more.