Domino launches in-house leasing program

Time：2020-01-15 From：

Domino has introduced an in-house leasing program, which allows label printer converters of all size an easier path to adding UV inkjet production press.

The in-house leasing program from Domino allows customers to pay for a 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.

Barry Wendell, account manager of Domino said: ‘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.’

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.’

Herrtage adds: ‘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 and the customer deals directly with Domino and no personal guarantees are required.

Christopher Stoehr, president of Southwest Label & Printing said: ‘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.’

The lease can be 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,’ Herrtage said.

Domino Account Manager, Emily Kroll said: ‘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.’

Herrtage adds: ‘Ione 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.’.

‘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,’ Kroll said. ‘Digital is the future, and the Domino N610i and the leasing program that we've put together is revolutionary.’

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