How to Offer Finance for Premium Kitchen Ovens

Why Offer Finance for Premium Kitchen Ovens?

Premium ovens and cookers represent significant investments for many households. By offering finance options, you:

• Make premium products more accessible
• Increase average order value
• Reduce customer hesitation at checkout
• Stand out from competitors

"Finance options can transform a 'wish' purchase into a 'today' purchase for your customers."

How Does Retail Finance Work in Practice?

Retail finance lets customers split the cost over several months or years, usually through third-party lenders. As a retailer, you receive the full payment upfront (minus any agreed fees), while the lender collects payments from your customer.

Typical Finance Models

1. Interest-Free Credit (0% APR): Customer pays in installments, no extra cost
2. Interest-Bearing Credit: Longer terms, customer pays interest
3. Buy Now Pay Later: Delayed start to repayments

At a Glance

Setting Up Finance for Your Showroom or Online Store

Getting started is straightforward, but careful planning helps you make the most of retail finance.

Step-by-Step Guide

1. Research Reputable Finance Brokers: Choose FCA-authorised partners (like Kandoo).
2. Select Your Finance Products: Match finance types to your clientele.
3. Integrate with Your Sales Channels: In-store, online, or both.
4. Train Your Team: Ensure staff understand the offer and compliance.
5. Promote Finance Availability: Feature prominently in marketing materials.

Key Consideration:

"Make sure your finance partner is fully FCA-authorised to protect your business and customers."

How to Present Finance Options to Customers

Clarity and transparency are crucial.

• Clearly display example monthly repayments
• Highlight interest rates and any fees
• Offer quick eligibility checks
• Use simple, jargon-free language

Highlight:
"Don’t let a complicated process put customers off—make finance feel accessible and straightforward."

Compliance & Best Practices

• FCA Regulations: You must follow strict regulations if ‘brokering’ finance
• Credit Checks: Be upfront about what’s required from the customer
• Advertising Standards: Clearly state any terms and conditions

Compliance not only keeps you legal—it builds trust with your customers.

Five Reasons Finance Helps You Sell More Ovens

1. Bigger Baskets: Customers buy more or upgrade their choices
2. Decreased Drop-offs: Fewer abandoned sales at payment stage
3. Competitive Edge: Finance options can win sales over rivals
4. Better Cash Flow: The lender pays you upfront
5. Wider Audience: Reach those who prefer spreading the cost

Real-World Example

Imagine a customer sees a £2,000 range cooker but hesitates at the checkout. By offering 0% finance at £83/month over 24 months, the purchase suddenly feels achievable.

Frequently Asked Questions

Q: Will I need a credit license to offer finance?
A: Not if you use a licensed broker like Kandoo, who handles the regulatory side.

Q: Is finance available for all ovens and cookers?
A: Usually yes, if products meet the finance provider’s minimum value requirements.

Q: How long does setup take?
A: Many brokers can have you trading with finance in under two weeks.

Ready to grow your kitchen showroom or web store?

Contact Kandoo today to learn how effortlessly you can offer premium oven finance to your customers—helping them, and your business, cook up something special!