Not all commercial construction companies purchase their equipment. Because of the high cost of bulldozers, excavators, forklifts, aerials and other equipment, many companies prefer to lease them instead. If you run a B2B company that sells lease contracts for B2B commercial construction equipment, you should target these companies using these five following tips. Doing so will help you secure more lease contracts, thereby boosting your own company's revenue.
#1) Identify New/Startup Commercial Construction Companies
New and startup commercial construction companies are more likely to lease their equipment than their established counterparts. When a commercial construction company is just getting started, it may lack the funds needed to purchase equipment, in which case it may seek a lease contract. By targeting new and startup companies such as this, you'll generate a stronger response while securing more contracts in the process.
#2) Explain the Cost-Benefits of Leasing
When communicating with prospective customers, explain the cost-benefits of leasing versus purchasing. The cost of a new excavator, for example, can run anywhere from $100,000 to a half-million dollars. Even many established commercial construction companies are unable to foot this bill without going broke. Leasing, however, allows commercial construction companies to use expensive equipment for a fraction of the price.
#3) Offer a Variety of Equipment to Lease
It's important that you offer prospective customers a variety of equipment to lease. If your inventory consists only of a handful of small, obsolete bulldozers, you probably won't secure many lease contracts. Therefore, you should expand your lease inventory to provide prospective customers with a variety of equipment from which to choose.
#4) Provide Maintenance and Upkeep at No Extra Charge
You can also convince commercial construction companies to lease your equipment by including maintenance and upkeep at no additional charge. If a company purchases a piece of equipment, it will have to pay for regular maintenance and repairs, which can cost the company big bucks. Including this in your lease contract, however, allows companies to avoid this otherwise costly expense.
#5) Be Flexible With Contracts
One of the challenges of selling a lease contract is convincing prospective customers to agree to the terms. An equipment lease contract may require monthly payments for a year or longer. If a prospect isn't willing to commit, he or she won't sign the lease. To ease their worries, you should be flexible when creating lease contracts. If a prospect is hesitant to sign the lease, find out what's preventing him or her from doing so and make the necessary changes to the lease's terms and agreement.
Finding New Customers that Need to Lease Equipment
Being able to find new customers to lease equipment is always a challenge. SalesLeads can help that process by informing you about new construction projects going on in your area. SalesLeads offers a service called Project Reports that tells you of any new facilities being built, renovated or expanded. Each project comes with a description of the project along with the contact’s name, email, direct phone number and other essential information.