This is more of an observation and/or business marketing thought than anything else, but it has to do with money, so it fits here anyway (well, I’ll make a post about baseball fit here if I wanted to… plus, I will tie this in to equipment financing in a moment.)
Anyway, in talking with many business owners, it seems that there’s a general feeling of “price really matters” right now. Now I know some of you are saying “duh”, but to tell you the truth, it’s starting to matter way more than it ever has before.
For example, look around you – what are homes selling for now in your area? I’ll bet a LOT less than a while back. Vehicles too. But it’s not just the big stuff. The Lawn-Cleanup Guy I mentioned in another post…. I talked to him the other day. He lowered his prices this year. Said he had to in order to compete. Same thing with a painter I know – he lowered his prices.
Now these are just anecdotal examples, but I have a pretty good read on current trends in matters business, and I see a little… well… price consciousness. From manufacturers to service providers to the lemonade stand down the street – people are using a price as a way to bring in business.
So what does this mean for you? Well, it means that if you are in business, and sales are down, pricing is something you may want to look at. Simple as this – if your competition lowers their price, you may be forced to follow, at least to a degree. But again, I’ll leave any definitive opinion on that for the marketing guys. Let me stick instead to something I really know (ahhh, here’s the equipment financing part.)
Right now, there are very likely some sweet bargains on business equipment. Equipment you have been thinking about buying for some time now. Couple that with some great interest rates and my old favorite Section 179, and financing equipment makes more sense than ever.
Like I’ve mentioned many times in the past, us equipment financers are here, we’re open for business, and we’re lending (and leasing).