There are many different asset finance companies who would love to work with you, so how do you choose the right finance partner for you and your clients?
Well it is much like choosing any other ‘business partner’. Initially any decision is going to be a slight leap of faith, as any good relationship is built on trust. This of course develops overtime, so to begin with it is important to establish the following:
- Is the finance company knowledgeable and responsive?
- Do you like the people you will be dealing with day to day?
- Will they look after your customers like their own?
Any relationship with the above foundations has a good chance of developing into a trusted partnership.
Offering finance has got to fit with your existing sales process, so it is extremely important to consider any perspective finance partner’s expectation of you including how much they expect you to get involved. Some vendors want to ‘sell’ on finance, by presenting the client with an indicative monthly payment themselves, whilst others want an entirely hands off approach to save them time and ultimately money. We are happy to work in whatever way suits you best to maximise the benefits of offering finance. Some of our most successful vendor partners simply make clients aware finance is an option and if they ask for more details, pass this over to us.
We would also suggest considering whether you feel that the finance company has your clients’ best interests at the heart of what they do, or if they are willing to win business at any cost. You are likely to be able to gauge this from their initial sales tactics with you – are they offering commissions (which the customer ultimately pays for) and super low rates (is this sustainable in the long run, or is this just to buy the business) or do they promise to build long term relationships with both you and your clients?
By working with the right broker, you will find that there is a huge amount of value in addition to being able to offer the complete solution to your clients. At Focus we like to think of ourselves an unpaid member of your team, working with you to educate your customers, helping them to make the right decision for them – whether that is an outright purchase or finance. As a family business, service is at the heart of everything we do and we work with our vendor partners to ensure that our process fits with theirs, creating a seamless customer journey.
Find out more about working with Focus can benefit you and your clients here.
Working with like-minded businesses who put their clients’ interests at the core of everything they do, has always been our goal, so if this is you, we would love to work with you. If there is any questions you need answered, please give us a call so we can start to build a strong working relationship.