What are payment plans?
As a home service professional, you know that your customers sometimes struggle to lay out the money for necessary home maintenance, repairs, and upgrades. Sunbit’s affordable payment plans enable homeowners to say “yes” to your services without cost holding them back. You get paid when the job is done, just as if the customer paid you by cash, check, or credit card. Your customers get the option of a convenient, interest-free payment plan that lets them pay for your services in manageable installments, rather than all at once.
How payment plans benefit your business
Payment plans aren’t just a good option for your customers. They’re good for your business, too. Here’s what your business gains by offering payment plans:
- They increase sales: Payment plans make customers more likely to accept your estimates and proposals. Knowing they don’t have to worry about paying you in full right away can increase your business’s revenue.
- They let you reach more customers: Payment plans let you attract a wider customer base by reaching out to customers who would otherwise be unable to afford your services.
- They build loyalty: Payment plans offer customers flexibility and convenience, which makes them happier. When you offer your customers a better experience, they’re more likely to use your services again and refer you to their friends.
- They improve your business’s cash flow: With a payment plan, you get paid for your services upfront, even though the customer pays in installments. This ensures you maintain a steady income stream to cover your ongoing business expenses.
- They let you stand out from the competition: Customers are more likely to choose a business that offers payment plans. Providing consumers with interest-free affordable payments makes them more likely to choose your company over the competition.
- They reduce default risk: Payment plans minimize the risk of
Key features of Workiz Sunbit integration
At Workiz, we’ve partnered with Sunbit to offer affordable payment plans. Sunbit is a user-friendly payment solution that offers flexible options for purchases like home repairs and renovations. It makes payments more convenient and accessible for businesses and their customers.
Sunbit’s streamlined application process is simple and straightforward, and approval often takes just seconds. Customers quickly learn whether they’ve been approved, letting them make a prompt decision about repairs or renovations. Sunbit offers different payment plans to suit everyone’s needs. Customers can choose four interest-free payments or opt for a plan with a longer repayment period that has some interest. There are no hidden fees with Sunbit, so you can have peace of mind when you use it to offer payment plans to your customers.
The payment plan process
Affordable payment plans with Sunbit are easy and work seamlessly with your Workiz account. Customers just complete and submit the straightforward application form. It asks for basic details like their name and income level. In under a minute, Sunbit evaluates the application and provides an instant approval decision, letting customers know whether they qualify. 90% of people are typically approved.
Once their application is approved, customers are shown the various options, including interest-free payment plans. They’ll see the amount they’d have to pay each month and for how long. Customers then select the plan that best fits their needs and budget.
Next, customers finalize the transaction, which means you get paid in full for the job when it’s completed. Customers will need to make monthly payments according to the terms of their plan.
Letting customers know you offer payment plans
Be sure to let your customers know that payment plans are an option you provide. Remember – knowing is half the battle. Your customers won’t choose a payment plan unless they’re aware you offer it, and gentle reminders can be helpful. That way, when they’re deciding whether to undertake a home improvement project, they won’t be held back by financial barriers.
Here’s how to offer payment plans to your customers:
- Train your field technicians to inform customers about payment plans when they provide an estimate, particularly for more expensive jobs or when customers have to choose between the cheaper way and the better way. Ensure your technicians are ready and able to answer customers’ payment questions and provide them with a flier that explains the process in greater detail.
- Incorporate messaging about payment plans into your outreach efforts. Let customers know how payment plans benefit them and clearly outline what they need to do to apply and qualify.
- Establish clear policies regarding payment plans. For example, if a part breaks down before the work is fully paid for, is a follow-up visit available at a discount? The answer is up to you, but be sure both sides know how maintenance, servicing, and refunds work in advance.
- Set up a system for recurring payments with a payment processor who can handle automated invoices and autopay. Sunbit takes care of all these details for you. Customers submit their payment details just once, and all future payments are deducted from their account. Once the work is fully paid for, payments stop automatically.
In summary, offering payment plans for home service jobs allows homeowners to break down the cost of a repair project into manageable monthly payments. Instead of paying the entire sum up front, a solution like Sunbit lets them spread the expenses over time. It gives them the funding they need to hire you for more projects and bigger tickets.
Applying and getting approved for a payment plan with Sunbit is quick and easy, allowing customers to make a decision so you can get started working on their home right away. Sunbit accepts applicants from a range of financial backgrounds, going beyond just their credit scores, so homeowners of various financial means can qualify. Repayment terms are flexible, enabling your customers to choose the plan that works best for them.
Offering payment plans lets you provide a better customer experience. Homeowners value the convenience and flexibility Sunbit provides, making them more satisfied and loyal customers. Payment plans let you stand out from the crowd by showing customers that their needs matter to you.
Ready to grow your field service business by offering affordable payment plans?
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