Sales & Close Rate
Offering customer financing on big-ticket jobs.
It moves close rate and average ticket. The question is whether that lift covers the fee.
What financing actually does
Three real effects on your sales.
- 01
Lifts close rate on big tickets
Typical lift: 15 to 30% close rate increase on $5k+ jobs. The monthly payment becomes the comparison point, not the lump sum.
- 02
Lifts average ticket
Customers say yes to the full system, the bigger repair, the complete package. The monthly looks reasonable even when the total isn’t.
- 03
Removes the spouse objection
No more “I need to talk to my spouse.” Most financing approves in minutes, on the spot.
The cost
You pay 6 to 12% of the job total.
Merchant fee deducted from your payout. Or you pass it to the customer in the form of a higher promo APR. Either way, somebody pays.
The decision: does the close-rate lift cover the fee? Usually yes on jobs above $4,000. Usually no below that.
Worked example
$12,000 HVAC system. 100 quotes.
Without financing: 35% close rate. 100 quotes × 35% × $12k = $420,000 booked.
With financing (50% take rate at 9% fee, lifts close to 47%): 23.5 cash jobs × $12k = $282,000. 23.5 financed jobs × $12k × 91% (after fee) = $256,620. Total: $538,620.
Net lift: $118,620 more revenue. You absorbed $23,500 in fees to make that. At 40% GP, that’s $47,448 more gross profit. Financing pays for itself when the close-rate lift covers the fee 2x over. Track it. Most trades clear that bar on jobs above $4,000.
The bottom line
Run the math on your own numbers.
Tools to look at: GreenSky, Synchrony, Wisetack, Service Finance. No endorsement. Pick one and measure the lift.