How to Offer Finance for Treadmills

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

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

Types of Finance You Can Offer

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.