How to Offer Finance for Treadmills

Updated

Apr 20, 2025 6:38 PM

Written by Nathan Cafearo

Learn the full process, benefits, and essential tips for offering treadmill finance to your customers, helping boost sales and customer satisfaction for your fitness retail business.

I am a business

Looking to offer finance options to my customers

Find out more

Apply for a loan

I'd like to apply for a personal loan

Apply now

Why Offer Finance for Treadmills?

Selling treadmills isn't just about having the best models; it's about making them accessible. With the average price of quality treadmills often exceeding £1,000, many customers hesitate at the upfront cost. By offering retail finance, you can:

Increase conversion rates and average order value
Reach a broader customer base
Stay competitive with larger chains
Improve customer satisfaction

"Giving customers flexible payment options turns hesitation into a sale—and customers into happy promoters."

The Steps to Start Offering Finance

Partner with a Reputable Finance Broker: Choose an FCA-authorised broker or lender who specializes in retail finance, such as Kandoo.
Integration with Your Sales Process: Work with your broker to set up online and/or in-store financing options.
Staff Training: Ensure your team understands how finance works, what products you offer, and compliance obligations.
Communicate Clearly to Customers: Display finance options online, at the point of sale, and during consultations.
Ongoing Compliance: Maintain clear paperwork, update staff on regulatory changes, and regularly review your arrangement.

Types of Finance You Can Offer

Finance Product	Customer Benefit	Your Benefit
Interest-free credit	No extra cost if paid within offer period	More attractive purchase
Classic credit (APR)	Spreads payments, small interest applies	Broader qualification
Buy Now, Pay Later	Start payments after a set period	Impulse-friendly sales

Compliance: What You Need to Know

FCA Authorisation: Most treadmill retailers need to either partner with an authorised broker (like Kandoo) or gain FCA status themselves.
Advertising Rules: You must present financial promotions fairly and not mislead customers. Display representative APRs and clear, key information.
Customer Suitability Checks: All finance applications go through affordability and credit checks to protect both your business and your customers.

"Transparency and compliance aren’t just legalities—they’re your competitive edge."

Tips for a Smooth Rollout

Highlight finance options early in the customer journey (website banners, leaflets on treadmills)
Train staff to initiate friendly finance conversations, not hard sells
Use simple language when explaining terms—avoid jargon
Provide customer examples (case studies or testimonials)

Real-World Scenario

Sarah runs a UK independent fitness equipment shop. After adding finance options, her average treadmill sale price jumped from £900 to £1,400, and she noticed 38% more closed sales per month. Customers appreciated being able to buy higher-spec models while spreading payments—leading to glowing reviews.

Frequently Asked Questions

Q: Is offering finance complicated to set up?

A: Not with the right partner—brokers streamline the process and most setup is completed within days.

Q: What happens if customers miss payments?

A: The finance provider takes on the risk, not typically the retailer (always check your agreement).

Q: Do I need to handle sensitive customer data?

A: Application processing is handled by the finance company, so you avoid storing sensitive financial information.

Call to Action

Ready to boost treadmill sales and help more customers afford top-quality fitness equipment? Contact Kandoo today to learn more about tailored finance solutions for your business.