How to Offer Finance for Conference Equipment

Why Offer Finance for Conference and Presentation Equipment?

Businesses, educational institutions, and event organisers often require conference and presentation equipment like projectors, audio-visual systems, screens, and wireless microphones. These items can be a significant investment, and not every potential customer can or wants to pay upfront. By offering finance options, you can:

• Expand your customer base to those who prefer spreading costs
• Increase average order values
• Enhance customer satisfaction and loyalty
• Stand out from competitors who lack flexible payment solutions

"In today’s competitive environment, offering finance is a customer-centric strategy that drives business growth."

Types of Finance Options Available

Understanding the choices available is key:

• Interest-Free Credit: Customers pay in instalments, usually over 6 to 12 months, with no extra cost.
• Standard Credit (Interest-Bearing): Spreads the cost over a longer term with interest applied.
• Hire Purchase: Ownership transfers to the customer after all payments are completed.
• Leasing: Customers use equipment for a period with the option to upgrade or purchase at the end.

Table: Pros and Cons of Common Finance Products

How to Set Up Customer Finance

Setting up finance options in your business involves a structured approach:

1. Partner with a Registered Finance Broker
   Look for a broker regulated by the Financial Conduct Authority (FCA), such as Kandoo.
2. Determine Your Offerings
   Decide which finance products fit your business and customer profile.
3. Train Your Team
   Ensure employees understand finance products, eligibility, and how to introduce them to customers.
4. Integrate Finance at Point of Sale
   Offer finance options both in-store and online during checkout for maximum reach.
5. Promote Clearly
   Clearly communicate finance availability through marketing, your website, and in-store displays.
6. Stay Compliant
   Follow FCA guidelines for advertising and selling finance.

Key Compliance Points

• Use clear, fair, and non-misleading finance promotions
• Ensure all financial promotions include representative APR and key financial details
• Provide pre-contractual information to customers so they can make an informed decision

Benefits to Your Customers

Customers looking for conference and presentation equipment can benefit from finance by:

• Accessing better quality or higher-spec equipment than their initial budget allows
• Managing cash flow more easily
• Preserving working capital for other expenses
• Benefiting from potential tax advantages (for business leasing arrangements)

"For business clients, financing can transform a strained budget into an opportunity to upgrade, without disrupting cash flow."

What to Look for in a Finance Provider

Not all finance partners are created equal. Look for:

• FCA accreditation
• A range of finance products suitable for businesses
• Quick application and approval processes
• Transparency in fees, rates, and terms
• Strong customer service record

Quick Tips for Success

• Proactively offer finance: Don’t wait for customers to ask
• Highlight low monthly payments alongside equipment prices
• Leverage testimonials from customers who have benefited from finance
• Use online finance calculators to help customers visualise affordability

FAQs

Do I need FCA authorisation?

• If you introduce customers to finance in the course of your business in the UK, you may need FCA authorisation or to be an Appointed Representative of an authorised broker.

Is finance only for large purchases?

• No. Many businesses offer finance for a wide range of price points, making high-quality conference equipment accessible for all budgets.

Final Thoughts

Offering finance for conference and presentation equipment not only positions your business as a flexible, customer-focused provider, but it also drives higher sales and loyalty. With the right finance partnership, you can make premium equipment accessible while ensuring regulatory compliance and boosting your bottom line.

Ready to offer finance to your customers?
Contact Kandoo today to explore tailored finance solutions for your business.

"Flexible finance can turn hesitations into sales and customers into loyal advocates."