Offering a Layaway Plan in Direct Sales
Have you ever had a potential customer say “oh I’d love to buy that but I can’t afford it?” Most of us are taught to overcome that objection, to prove the worth or value of the product. However if the buyer truly can not afford the product, then no matter how convincing we are, a sale is not going to be made.
Have you considered offering a layaway option to those customers who can not afford the item right now? Many years ago, most major retail chains offered a layaway plan. Due to the cost of maintaining these programs, most stores did away with the layaway option. This is your chance to offer what the retailers don’t.
Write up the receipt for the product (s) that your customer wants and then set out the terms. Perhaps their order is $100 and they want to pay $20 per month, over 5 months. Why not accept this? In the end, you’ll have your $100 sale, they’ll have their products, and you’ll have a customer.
Remember, you are not a bank. If the customer comes to you wanting their money back, you are not a bank. When you write up your receipt be very clear there will be a $20 fee for any cancelled transaction.
Depending on the product (s) you sell, you may be able to order the product (s) 5 months down the road, once they are paid for. If you do have to order the product (s) up front, then again, on your receipt be very clear that if a payment is missed, the items will be sold and no money will be returned.
Usually customers are grateful for this service and you’ll get the $20 each month as promised.
Offering layaway to customers is a wonderful way to make yourself stand out as being different and unique.
Try advertising this service and watch your customer base grow.
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