It’s no secret that the gig economy is here to stay. In a recent McKinsey survey of the American workforce, a whopping 36 percent of respondents indicated they were independent workers—a full 9 percent-point increase from the last time McKinsey tracked this worker segment.
That means more customers than ever are looking to start their own maker business, and may be in the market for a CNC machine. When they’re ready to buy… are you ready to sell?
CNC customers have already done their research
CNC machines are specialized, with a steep learning curve for new makers. They might be unfamiliar with the ins and outs of not just the hardware, but the software that helps them with the design and creation of their final products.
So would-be customers who’re new to maker culture are already doing a whole lot of research on their own before they ever contact you about one of the machines you’re selling—including how to afford an $8,000+ machine as a crucial part of their business plan.
These customers are ready to commit, but need financing options that will allow them to get what they need now, possibly without a large down payment up front. Affordable financing options will enable them to overcome their hesitation about the economy and launch their maker business. So why not bring them to you by offering more financing options for them to choose from?
Their options are your options
One of the first things that customers need to decide is how to invest in a CNC machine that will jumpstart their maker business. There are many ways to finance a new CNC machine or other equipment purchase. Options include:
Leasing via an equipment financing company
Loan through a traditional lender like a bank or credit union
Financing directly through the manufacturer or seller (like yourself)
Using a credit card
“Friends and family” fund-raising round
Most machine sellers will think of suggesting options #2-4 to their customers. Some might even get to #5.
But how many thought of the first option? How many sellers even know this service can be made available to their customers, at no cost to their bottom line?
"Would-be customers are already doing a whole lot of research on their own before they ever contact you about one of the machines you’re selling—including how to afford an $8,000+ machine."
The benefits of leasing, for your equipment business
Sellers who offer leasing to their customers can:
Give their customers more options to get the CNC machine they need to operate their maker business, without the customer walking away empty-handed.
If leasing through Clicklease, sellers can also:
Find out which customers are already approved for financing, and therefore have purchasing power.
You can call or email the prospective customer to find out more about which machine their interested in, and have more confidence in closing the sale knowing that the customer has a way to buy.
Get paid the same day, in cash (via ACH).
The benefits of leasing, for your customers
Customers who lease can:
Use their machine to make products right away, giving them the opportunity to generate income faster.
Are they trying to get products made in time for a show? A quick and easy leasing approval within seconds, with no hard credit pull, may be the way to go to get them to the show on time and ready to sell.
Count on fixed payments for a fixed amount of time.
Interest rates are still rising. A leasing contract with a solid payment plan can be counted on to stay fixed even when interest rates change, so that a new business owner can plan exactly what their monthly expenses will be for that machine.
Get approved for a lease, but not a loan.
Banks and other traditional lenders want reams of paperwork and days of scrutiny before they’ll offer a business loan—and that’s only if your customer was approved for one in the first place. The way leases are structured allow financing companies like Clicklease approve customers banks might not. And our proprietary approval algorithm that draws upon hundreds of additional data points and risk factors lets us approve even more customers than other leasing companies, period.
To Sum Up
There are many ways for customers to finance their CNC machines. The most important thing is to make sure you have the right financing information in place before they’re researching their options so that they come to you instead of a competitor.
You can add additional financing options to your website via a Financing page, or even via email when someone contacts your company about buying a CNC machine. (An email template works great.)
If you don't know where to start, contact us today—we’ve helped hundreds of sellers like you help their customers finance their equipment, and we’d love to help you, too.