If your products or services are out of customers’ price ranges, you can say the customers are out of luck. You can lower your prices. Or, if you want, you can offer credit.
People may be extremely impressed if you’re willing to cut them a little slack. It plays into the customer service aspects of a business, and can help ensure that you bring in some money as opposed to none.
Offering credit is not something to do without a second thought, however. It’s a little bit worrisome when someone doesn’t have cash for a purchase, and even more troubling when they for some reason can’t use credit cards to cover the situation
Also, Melanie Lindner notes, "’Just-in-time’ operators may not have the flexibility to withstand cash shortfalls," and she suggests, "If you do offer a payment plan, charge an acceptable finance fee–perhaps 1.5% a month, or 9% a year–and establish a reference checking policy."
Still, if you’re looking for ways to generate money and loyalty, offering credit is at least another option to consider.