Intro: Synchrony Paves the Path with Roto-Rooter for Financing Solutions
Consumer financing giant Synchrony (NYSE: SYF) unveils its groundbreaking, expanded partnership with Roto-Rooter, the foremost provider of plumbing and drain cleaning services. Together, they introduce an innovative consumer financing model aimed at transforming the home repair industry.
Decade-long Partnership Embarks on a New Era
Building upon their ten-year alliance, Synchrony and Roto-Rooter have now taken a significant step forward in strengthening their relationship. The cornerstone of this collaboration is a private label credit card. It is designed with flexible financing options, incorporating promotional financing to adapt to customers’ diverse financial needs.
Innovative In-Home Digital Sales Tool
Collaboratively, Synchrony and Roto-Rooter have launched a unique in-home digital sales tool. This tool empowers technicians to propose financing options to customers instantly. As a result, necessary home repairs have become more manageable, leading to the negotiation of a fresh, multi-year contract.
Rollout to Franchise and Contractor Locations
Following the successful negotiations, Synchrony is implementing the expanded partnership across all Roto-Rooter’s franchise and contractor locations. It signifies the promising growth and commitment between the two business giants.
Empowering Businesses, Supporting Consumers
This strategic partnership allows Roto-Rooter to provide flexible payment solutions that cater to sudden home emergencies. Furthermore, it issues a dedicated credit card to customers, fostering repeat purchases, streamlining payments, and nurturing customer loyalty.
Financing Services as a Catalyst for Business Growth
“Synchrony’s approach to digital financing services offers businesses like Roto-Rooter a fresh perspective to increase sales and close deals more efficiently,” said Curtis Howse, CEO of Home & Auto, Synchrony. “We’re excited to nurture our longstanding relationship with Roto-Rooter and support their business growth with our bespoke financing options.”
What does the new partnership between Synchrony and Roto-Rooter entail?
The expanded partnership provides customers with a private label credit card offering flexible financing options. Additionally, an innovative in-home digital sales tool enables technicians to propose financing options promptly.
How will this partnership benefit Roto-Rooter’s business owners?
This collaboration will allow business owners to offer flexible payment options, thus being able to promptly address immediate and urgent home repair situations of their customers.
What benefits do customers receive from this agreement?
Customers will have access to a dedicated credit card that streamlines repeat purchases, facilitates easy payment processing, and boosts customer loyalty.
How is Synchrony’s partnership beneficial for its future business model?
This partnership provides Synchrony with the opportunity to implement its innovative financial strategies across Roto-Rooter’s franchise and contractor locations, expanding its customer base and consolidating its market presence.
How does Curtis Howse, CEO of Home & Auto, Synchrony, view this partnership?
Howse believes this partnership will uncover new ways to drive sales and increase business efficiency by providing Roto-Rooter with the digital financing services they need.
Table of Key Stats
- Years of partnership: 10+
- Financing options: Private label credit card
- New Tools: In-Home Digital Sales Tool
- Strategy: Promotional Financing
- Target: Franchise and Contractor Locations
Bernie is an experienced financial journalist with a focus on Earnings News and Financial updates. He has been working as a journalist for more than 8 years and has been with Survey Paid since 2019. His byline can be found on articles covering stock market analysis and commentary, earnings reports, and other financial news. Based in New York City, NY.
Contact Email: [email protected]