Editors Blog


Taking Care of Business: You Can Layaway Merchandise, Why Not HVAC?

October 6, 2008
/ Print / Reprints /
ShareMore
/ Text Size+

If you have ever used a layaway plan to purchase merchandise, raise your hand. I knew it. There are a lot of you out there just like me.

I still use it once in a while to put Christmas gifts in a safe place until I am ready to purchase them. I did a lot of layaway purchases for toys and games when the kids were young.

The fact is, buying via layaway remains a viable option for many consumers. If you don’t need something right now but you know you will need it in the next few months, lay it away. That way you know you will get exactly what you need when you need it, especially if the item is very popular (remember Tickle Me Elmo?).

Let’s say your customer is planning to purchase a replacement HVAC system next year because they don’t have the money right now, are in the remodeling stage, or just figure the old system still has 365 days of life left in it. What is stopping them from putting a down payment on it and making monthly payments for 6-12 months until they are ready for installation?

You can put their monthly payments in escrow or simply use that money for cash flow if needed. You have a guaranteed customer next year, and if you treat them right and they like the layaway plan, you may get some referral customers, too.

It’s win-win for you and your customers - so what are the drawbacks? Inventory space? Regulations? No accounting method? Bah, go for it.
You must login or register in order to post a comment.

layaway

Lori
October 13, 2008
Can you send me your process on how this layaway works for HVAC equipment? msideplumbing@aol.com Thanks

Layaway for HVAC

Gloria Fultz
October 14, 2008
I think this is a good idea, not just for regular HVAC, but for solar systems and all home performance services (air sealing, insulation, etc.) With tight credit right now, this is a way for people to put their limited funding into something that will save energy and money in the future. Of course, a low interest financing option would be another way for customers to pay over time.

hvac layaway

pemril,LLC
December 8, 2008
I have done hvac layaway for years in my company and decided in 2005 to start pemril llc, a company that allows me to devote my full time to teaching other HVAC contractors how to do hvac layaway. Visit PEMRIL.COM Thank You, Dave

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con