Case Study

The Archery Shop

How the Archery Shop hit the bullseye by offering point of sale finance

The Archery Shop logo

The Archery Shop and why they chose finance

The Archery shop offers a large range of archery equipment teamed with excellent and friendly advice. Products range from traditional archery bows and arrows to clothing, supplying archers of all levels with the right equipment.

Realising the potential and benefits

Archery can be quite an expensive sport for the performance shooter and The Archery Shop always had people making enquiries and buying expensive bows. It’s a niche market, and people often save or plan ahead when buying expensive gear but The Archery Shop had the occasional client who would say: “Oh, this is the bow I really want, but I can't really afford to pay so much right now.” They would generally take a cheaper option.

However, it was only after they started offering finance that they realised the huge potential and the benefits it could bring to their business and their customers. Once they offered finance, customer numbers increased along with customer satisfaction - it is a lot easier now for someone to acquire that dream bow.

In their own words

We asked Director, Carl Aldred for his opinion on offering retail finance through Close Brothers:

It was done in a record time, everything was ready to go in a week and it didn't require any effort from us. A service adapted and suitable for our fast changing business environment.”

Carl Aldred

The Archery Shop Bournemouth

How long did it take to start offering 0% finance?

Once we had agreed to proceed, we were up and running within one week. This time-scale was for the Web developer to install the relevant modules to our website. Training was done in house and was very easy to understand.

How long did it take for the product to be fully integrated onto your website?

Once we decided to go with the Quick-Start product (meaning we didn’t have to apply for our CCL straight away) it was incredibly easy. In fact easy is probably too small a word for it. Throughout the whole process we barely had anything to do, because Close Brothers did everything for us making our life so much easier.

The results of offering retail finance through Close Brothers

35

Additional applications targetted in the first year

51

Orders taken in the first 6 months alone

£34k

Revenue generated by the additional orders

2 months

Time taken to cover the cost of website integration

The results are positive but the highlight of their experience with CBRF was the set-up completion.

It was done in a record time, everything was ready to go in a week and it didn't require any effort from us. A service adapted and suitable for our fast changing business environment.”

Carl Aldred

The Archery Shop Bournemouth

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