The Drive of Digital
Digital Printing is on a strong upward trajectory. Label printer converters today, more than ever before, are understanding the value of having digital in their arsenal. As brand owners are increasing SKUs, versions, and personalization coupled with demand for quicker turnaround times, decreased inventory, and superior print quality to differentiate their products, label printer converters are realizing that digital is not just a “nice-to-have” but rather a “need-to-have” in order to be competitive, retain customers, enter new markets, and grow their business.
Chris Gleis, president of Factor Forms & Labels Niagara, Ltd. says, “The Domino N610i is going to allow us to continue to grow at double-digit percentages every single year. This technology is best in class, and it's going to allow us to print the absolute best quality for our customer base.”
How the Domino In-House Leasing Program Works
The in-house leasing program from Domino allows customers to pay for their new Domino N610i digital UV inkjet label press over a period of time, typically three to five years with fixed, monthly payments.
“Typically in the United States it’s called a dollar buyout lease, in other part of the world it’s called a finance lease, but effectively it's a capital purchase with the payments spread over a term. So, at the end of that period, the customer would then take ownership of that press,” says Mark Herrtage, Finance Director of Domino.
No Large Cash Outlay
“The leasing program is a very simple, easy way for our customers to get into this technology. And it doesn't take a huge cash outlay to get into the business,” says Barry Wendell, Account Manager at Domino.
Patrick Wafer and Ryder Fyrwald, Owners & Co-CEOs of Alros Label explain, “One of the big advantages of the Domino financing program for us is the ability to invest in other things… sales, marketing, hiring new employees are all the ways that we're going to grow the business, and with the financing, it allows us to do that. We don't have the disposable cash to go out and buy one of these machines. So, having a financing option and ability to pay it down over time, along with really attractive rates, made it pretty much a no-brainer for us.”
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Adds Mark, “Our leasing programs are very much geared to all companies, whether that be a small company that needs some financial help from us, to large companies that just want to be able to protect their own cash flows or invest in other areas. We're helping them with that.”
Label printer converters will find that Domino In-House Leasing offers competitive rates that are generally lower than banks or third-company leasing companies provide. Plus, you’re dealing directly with Domino and no personal guarantees are required.
Explains Christopher Stoehr, President of Southwest Label & Printing. “They came out to me, they brought the contracts, we went over everything and it was boom, boom, slam dunk, it’s done. It was awesome. You're dealing directly with Domino. No banks involved. The relationship with Domino, not only on the equipment, but the leasing and the financing, it goes hand-in-hand and, in my opinion, it works the best because everything is together. Everything's handled by one company. To me, that was the best choice I could have possibly made.”
Flexibility in the Lease Structure
The lease can be even be structured with deferred payments to allow the customer to ‘ramp-up’ their digital business…building their book of business to put on the Domino press…prior to making their first monthly payment.
“We even offer a Ramp-Up program whereby they can have a press on a lease, pay nothing for the first six months. So, all they're paying for is their ink. And after six months, they can then start to pay for that press through the margins they generated from what they're selling using the Domino N610i,” says Mark.
Adds Domino Account Manager, Emily Kroll. “So, we're speeding the ramp-up process so that you're making money as quick as possible.”
Bundled Package provides “Business in a Box”
Emily says, “I get asked all the time, ‘Why should I buy a digital press?’ With Domino's Leasing program, the question really becomes, ‘Why wouldn't you buy a digital press?’ It includes service, maintenance, training, printheads. So, it's really nice that customers get to have that fixed monthly amount. There's no uncertainties.”
“The monthly payment will cover the capital repayment of the press, but it'll also cover the full service contracts. We can also bundle in Digital Solutions programs. For a few dollars, pounds, euros more, you can have a whole lot more included in your package,” says Mark.
And Barry adds, “We provide all the resources to train their operators. If they want to train their sales staff, we can train their sales staff; we'll teach management how you manage digital, and we'll teach customer service how to estimate for digital. It's basically a business in a box.”
Trade-In Guarantee, Future-Proof
“So, one of the nice things with the Domino Lease program is it's also backed by our trade-in guarantee programs. If something new is launched and you want to move to that, we will take back the press that you have, and we will just recreate a lease for you. We have a very robust trade-in program,” says Mark.
Emily puts the exclamation point on the key benefit of this program. “I think the main advantage to Domino's Leasing Program is it allows your business to grow with the advancements that are made in digital technology. Digital is the future, and the Domino N610i and the leasing program that we've put together is revolutionary.”