Do you offer warranties to your customers? If your company provides high-quality work, utilizes trustworthy materials and delivers value, the answer should be “yes.” Simply put, offering a warranty can mean the difference between winning your next big job, and losing that job to someone else.
And while it might seem like warranties are only a game for the big dogs, it turns out that your competitors are most likely offering some sort of guarantee on their work. Over 90% of exterior companies offer some kind of warranty, according to the Home Improvement Research Institute. Over 67% of landscapers offer a warranty, which is significant considering that 67% is the lowest reported rate in the industry.
A fair warranty that’s offered in good faith can help distinguish your company from the pack. But tread carefully – if you aren’t sure how to offer your warranty without adding stipulations, it might be worth stepping back and re-evaluating.
So, what goes into a warranty?
First, think about the materials that you use. While you can’t make a guarantee on the materials, the manufacturer most likely does.
Materials should be covered by the manufacturer, but keep in mind that some manufacturers have a better reputation when it comes to standing behind their promises. Look for online reviews or ask around to fellow contractors before choosing which building materials to install. Make sure that you follow the manufacturer’s recommended installation instructions – if you don’t, you’ll void and then lose your warranty, even if the product is defective.
Keep in mind that certain materials are typically covered for a blanketed amount of time. Over 97% of exterior product manufacturers offer a warranty longer than two years. On the other hand, less than 30% of landscaping products are sold with a warranty of two years or more. If you are going to extend the warranty offer to your customers, check with the manufacturer for the length of the warranty first.
Similarly, the length of “quality of work” warranties varies from one trade to another. Exterior companies cover their craftsmanship for an average of 7.4 years. The average warranty offered by painting contractors is three years.
If you are willing to offer a warranty better than these averages, make sure your customer knows it. It could give you that extra little advantage to win the job.
And after you win the job, Constructyv is here to help you schedule it, manage invoicing, and offer credit card payments to your customers.