Sign Up For Jobba’s Rooftop View, a monthly newsletter for roofing contractors  – click here!

Should You Add Roof Financing Options to Your Business Model?

As we continue to find ourselves in uncertain times for the 2020 year, we all know many businesses and homeowners are facing financial hardships or major budget cuts. Because of this, discussing pricing for any roofing work can be a very sensitive subject to some. It’s no surprise that roof repairs and replacements can be expensive, but potential customers may not know just how expensive until you deliver that final estimate. 

Many industry experts have implemented various financing options to help their customers get the relief they need, while allowing you to close a sale. 

But how do you know if you should add these types of services to your roofing business? We broke down all of the basic information about roof financing and how it can impact your overall business performance.

How does roof financing work?

When business owners and homeowners are in need of a roof repair or replacement, they often find that the cost is more than their budget will allow at that point in time. With the help of various loans and financing that are designed roofing maintenance, your customers are able to pay a reasonable amount over an extended period of time. By providing finance options, you are allowing customers to access the repairs they need immediately and choosing a payment plan that works for them.

How is roof financing beneficial?

The main benefits of roof financing are to help reduce the stress on business owners and homeowners in need of roofing repairs or replacement and provide them with alternative ways to pay for the work needed. But roof financing doesn’t just benefit your customers, it can benefit your roofing business as well. 

From providing a positive customer experience to still being able to close a sale, roofing companies that choose to take advantage of financing and loan options have seen massive changes in their business and sales performance. 

How does financing impact job sales?

Many roofing contractors know that one of the biggest reasons they lose a job is because of pricing. While sometimes these scenarios result in the customer going with a roofing company that provided them with a lower estimate, it is often because the customer cannot simply afford to pay the full amount up front. 

Thanks to roof financing, your salespeople will be able to have solutions for customers who find the needed work to be too expensive or not fitting within their current budget. Various roofing sales teams have actually found that instead of waiting to hear a customer say something isn’t within their price range, they provide the financing option upfront to show how their companies are willing to help the customer where it is needed.

Business owners and homeowners will sign the agreement with relief knowing they didn’t have to put a huge financial burden on themselves. Roofing businesses also have reported that when they started offering financing options that their customers would express their satisfaction in online reviews or to friends, leading to more opportunities for the company. 

Jobba knows the hardships many commercial and residential roofing customers are currently facing in the wake of this global pandemic. We are always working with different companies who need advice on the financial companies to work with and integrate into their system. If you are looking to add new forms of payment for projects, contact us to see how we can help your roofing business.

Would you love to grow your service department and turn it into a profit center? There are four critical processes to be managed by Commercial Roofers who want to grow their profits and service revenues – Read our ebook 25 Ways To Grow Your Roofing Company’s Service Department to learn!

Share this post