Keeping your customers happy with alternative finance16th February 2017
Maintaining a balanced approach towards keeping your customers happy and satisfying your business’s finances can be a frustrating endeavour. Just when you think you’ve achieved a balance, an irksome issue comes out of nowhere and forces you to lean towards one side or the other. For many businesses, this issue has come in the form of economic uncertainty and has lead to a great number of price hikes. However, as you can imagine, this has resulted in some very disgruntled customers indeed. So, how do you regain your balance in this endless see-saw of priorities? Alternative business finance.
Choosing between your customers and your business is undoubtedly a painstaking situation to be in. But with the pound weakening, ensuring your inventory remains well stocked has become that bit more difficult and expensive. Either you pass these costs on to your customers or you let your finances swallow it. Which is it to be?
No matter which way you choose, this issue is going to have you running back and forth to the point of exhaustion. But at Rangewell we’re giving you a 3rd option – both. Why choose when you can reap the benefits of both?
With alternative finance, you can get the funds you need without having to engage in a tug of war with your local high street bank. There are plenty of alternative finance lenders around, all willing and able to offer you the funds necessary to keep your customers happy and content. If you’re going to raise your prices, you need to present them with a good reason for staying.
Keeping your customers happy
No one likes having to pay more, unless they feel that they’re getting value for money. This is where alternative finance can be of major benefit. With the diverse array of products and packages on offer, securing the funds you need to carry out any business project has never been easier. Whether you’re looking to build extensions, install better equipment or even change the appearance of your business, alternative finance is here and offering all the funds you need to succeed. Here are just a few of the many products your business could benefit from:
- Business Loans: The trusty business loan continues to be a staple among the business community. It offers anything from £5,000 to £1,000,000 and is repayable each month over a fixed period, plus interest. By applying, your business could benefit from a lump sum that can be applied and used for any business project or for the purchase new equipment. With a well-tailored business loan the possibilities for your business are endless.
- Hire Purchase: Acquiring big, expensive equipment for your business has never been easier with a hire purchase solution. Don’t let a lack of personal funds hold you back, with this solution an alternative finance lender could make the purchase on your behalf. Paying an initial lump sum in the region of 10% of the asset’s total worth, you could secure the asset for your business and retain its usage whilst making monthly repayment to the lender, plus interest. You receive ownership of the asset once you have concluded the repayment scheme.
- Leasing: Rather than claiming ownership and inheriting all the burdens that come with it, borrowing assets for a fixed period of time might be a more viable solution. Leasing terms usually last between 1 – 3 years, during which you will be entrusted to make fixed monthly payments for its continued use. At the end of your term you can either return the asset, extend the lease or present a buyer. Naturally, this package is most suited to businesses looking to run a particular service for a limited time, or are just experimenting. Whatever your intentions, leasing remains a popular choice for business owners alike.
- Business Cash Advance: Extremely useful if you’re looking to acquire a fast lump sum. Although it may look like a loan at first glance, I assure you, it is not. Business Cash Advance, sometimes referred to as Merchant Cash Advance (MCA), grants you a lump sum based solely upon your monthly credit card earnings. But in exchange, the lender will take a percentage of your potential sales, usually in the region 18% or 18p/£. So, for every £1 your customers pay using their credit or debit cards the lender will take 18p until the debt has been repaid.
Our values are simple – We’re on your side.
At Rangewell our services are clear and transparent. We support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.
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