When do you need to seek ways to attract more customers? Often, it is when you need new opportunities to boost your business’ revenue. One strategy is offering lease-to-own (LTO). This easy lease renewal payment solution not only broadens your customer base possibilities but also paves a way to increase your revenue by appealing to customers who might need more means or desire to use an alternative to financing. In this article, let’s explore why your retail business should offer lease-to-own. 

1. What is lease-to-own, and how can it benefit your business? 

With our Acima Leasing solution, we buy the product from you and lease it to the customer with clear paths to ownership. As a retailer, this flexibility opens your business to a broader audience of consumers looking to shop with more than cash and financing options. 

Benefits as a Retailer: 

• Customer Experience Boost: With lease-to-own, you can provide an alternative to financing that is simple, from starting the application to completing the lease agreement and eventually returning for a new transaction. 

• Proven Financial Stability: Acima Leasing is a sub-brand of Rent-A-Center, Inc. As a retailer, you can benefit from working with a brand with a long track record of business growth. 

• Educated Approach: Acima Leasing also provides materials about lease-to-own so that you can educate employees and customers about how lease-to-own works. 

• ECommerce Expertise: As an eCommerce retailer that offers Acima Leasing, you can use our robust API and shopping cart plug-ins to create a frictionless online experience. 

2. What types of items can retailers offer for leasing with Acima Leasing? 

Certain item categories are available for lease with Acima Leasing, especially those that meet essential home and lifestyle needs. These include: 

• Furniture 

• Mattresses 

• Tires 

• Appliances 

• Electronics 

• Jewelry 

• Eyewear 

• Handbags 

• Camera Equipment 

3. How do I set up a lease-to-own solution for my retail business? 

Making Acima Leasing available in your stores or on your website is straightforward. Start by filling out an application to talk to our team, and we’ll guide you through how our solution can work with your business. We offer a seamless process to get you up and running quickly, allowing you to start benefiting from offering lease-to-own as soon as possible. 

4. What other benefits should I prioritize when choosing a lease-to-own provider? 

When selecting an LTO provider, prioritize ease of use for the customer, simplicity of implementation and the provider’s track record of business success. Acima Leasing excels in all these areas, ensuring a hassle-free experience for you and your customers. 

5. How can I train my staff to manage lease-to-own transactions effectively? 

Acima Leasing provides comprehensive training materials to educate your employees on lease-to-own transactions. We provide the tools your team needs to be prepared to handle customer inquiries and transactions, making the process smooth and efficient.  

6. What are the marketing benefits of offering lease-to-own? 

You can market your lease-to-own payment solution through various channels, including your website, social media, and in-store messaging. By working with Acima Leasing, you’ll also benefit from our email remarketing campaigns, designed to keep customers engaged and informed about their leasing options with your business. 

7. How can lease-to-own improve customer satisfaction and loyalty?

Lease-to-own can significantly enhance customer satisfaction by offering easy lease renewal payments and a straightforward application process. Depending on their application, customers can get approved for up to $,5000 of shopping power**, empowering them to shop with you. This flexibility fosters loyalty, as customers will enjoy the convenience. 

8. What are some common challenges retailers face with lease-to-own, and how can they be overcome? 

If you need help seeing the immediate impact of lease-to-own, we provide a merchant portal to track all transactions. Additionally, we offer in-store marketing materials to help educate customers on lease-to-own options. This way, you can quickly inform your customers about lease-to-own benefits. For eCommerce integration, our robust API and pre-built shopping cart plugins are compatible with platforms like Shopify, Magento, BigCommerce, and WooCommerce, building that frictionless experience. 

Why Consider Acima Leasing for Your Business 

Offering lease-to-own in your retail business is a strategic move that may help to expand your customer base, promote revenue growth, and enhance customer satisfaction. With our turnkey integration process, you can offer a lease-to-own solution quickly. Don’t miss the opportunity to grow your business with lease-to-own. Start the conversation with our team today and fill out an application!