Thousands of dentistry suppliers across the country are becoming more conscious of the benefits of offering their customers a finance option. Many have seen their sales surge since offering finance, as it makes their products more affordable to many businesses. Therefore, the advantages of leasing aren’t just limited to the customer, but most definitely the supplier too!
How offering finance benefits suppliers:
• Breaking the budget barrier
If you work within the dental sector, you are most likely already aware that dentistry paraphernalia is not cheap. Therefore, purchasing equipment upfront can be damaging to a practice’s cash flow. This is why so many dental practices and labs across the UK now use finance to acquire their equipment needs.
• Gain a competitive advantage
By offering a finance option to your customers, you will most likely also see a boost in customer loyalty. This is because the probability of them renewing their agreement with you is high. Bringing you more returning business.
• Increase in sales
Due to customers being able to overcome the budget obstacle, it enables more accessibility to your products. Quoting a rental option is one of the easiest ways to increase your order value. An extra £1,000 in sales is just another £1.00 per working day over a five-year lease term.
What finance offers to customers:
• Improved cash flow health
Affordable and fixed monthly repayment terms offer a big advantage to the customer’s cash flow. This frees up cash to be used elsewhere in the business.
• Distributed VAT liability
Not only is the cost of the asset spread across the agreement term, but so it the VAT.
• Tax advantages
With a lease rental agreement, 100% of the rental is deductible against a company’s corporation tax bill.
• Customers can also remain competitive
Leasing doesn’t just offer the supplier a competitive advantage, but also the customer. It enables the customer the access modern technologies that can significantly improve the productivity of their business. As it goes without saying, customers will favour the most effective service that they receive.
• Alternative source of funding
Through leasing, the customer won’t need to use up an existing bank facility.
• “If it appreciates, buy it. If it depreciates lease it.”
Words of wisdom from famous oil baron Paul Getty. Leasing saves money from being lost on depreciating assets. And instead, gives businesses the opportunity to renew their equipment once their agreement is over.
Are you a supplier for the dental industry that wants to see a surge in their sales? If so, please don’t hesitate to get in touch to find out more about partnering up with us. Give us a call on 01494 611 456. Or send an email to email@example.com