It’s an often-underused tool at any seller’s disposal, but financing is there to make the sale easier—and oftentimes, bigger. Specialty flooring retailers across the country attest to the power of financing in their own businesses where the benefits run the gamut from attracting new customers to retaining repeat business and building bottom lines and even fostering trust and loyalty.
Here’s what specialty retailers had to say:
“We offer 12 months deferred/no interest if paid in full financing year-round, and in 2024 it made a huge difference in our sales. Our financed sales increased about 40% over 2023. Though it means we pay more (as a retailer) it also means we closed jobs that we wouldn’t have been able to close without the option to finance. It also gave us bigger-ticket sales. Our financed sales averaged about 30% larger than our cash/credit sales.”
— Sunni Petty, Petty Family Floors, Round Rock, Texas
“Offering financing options to every customer as a flooring company owner is a strategic way to remove barriers to purchase and increase sales. Many customers may want to upgrade their flooring but hesitate due to the upfront cost, even if they value quality and durability. By providing flexible financing options, you enable customers to afford premium products and services without immediate financial strain, making it easier for them to say yes. This approach not only broadens your customer base but also fosters trust and loyalty, as customers appreciate businesses that accommodate their financial needs. Additionally, financing options can lead to higher-ticket sales, as customers are more likely to invest in better materials or additional services when costs are spread over manageable payments. Ultimately, this creates a win-win scenario by enhancing customer satisfaction and boosting your revenue.”
— Brian Elias, Refloor, Farmington Hills, Mich.
“We offer 12 months deferred interest if paid in full and some others. We work with Wells Fargo. We don’t do a lot of financing, but it has made some sales possible that wouldn’t have been otherwise.”
— Lori Poff Kellogg, Floor Concepts, Wilmington, Del.
“We advertise 12 months, interest free but have plenty of other levels to choose from if we allow (we get final say). It’s funny, a few years back people would be offended if we offered financing, but in the last year and a half it has helped us close deals and even upsell them.”
— Katye Grace, Family Tradition Flooring, Rochester, Minn.
“About 70% of all revenue is financed. From deferred interest to longer terms up to 24 months, we get as much needed to do the job and give the customers exactly what they want in a payment that fits their budget.”
— Adrian Rojas, In-Home Floors, Conroe, Texas
“We offer financing to everyone. We post our financing options on social media and a clip on how I’m available to help as well. And when you walk into our store, we have a large framed sign that talks about our financing on a big welcome table. We are in an area where if you’re not offering financing people are probably not going to bother shopping with you.”
— Christina Peterson, Blue Mist Paint & Flooring, Spartanburg, S.C.
“We offer three options with the total. Cash price, credit card price or monthly payment option. I think offering the option of $12k total $11.5k cash or $1k/month for 12 months most people will take the 12 months just because. Most people won’t buy a car in full up front either. The more options the better. You have to offer it in a way that’s not offensive though. If you just say we have financing a lot of people would take it as you think they can’t afford it.”
— Chris Rogers, Wally’s Carpet & Tile, Upland, Calif.
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