Digital printing for labels is on an upward trajectory. Label converters increasingly understand the value of having a digital press in their arsenal. The increasing number of SKUs, personalization coupled with demand for quicker turnaround times, and superior print quality to differentiate products, make digital more compelling than ever. It’s no longer just a luxury or frill but a way to be competitive, retain customers, enter new markets, and hence to grow the busines. Chris Gleis, president of the major Canadian converter, Factor Forms & Labels in Niagara Falls, says, “The Domino N610i is going to allow us to print the absolute best quality for our customer base.”
Domino’s in-house leasing program
The in-house leasing program from Domino allows customers to pay for their new Domino N610i digital UV inkjet label press over a while, typically three to five years with fixed, monthly payments. “Typically in the United States, it’s called a dollar buyout lease, in other parts of the world, it’s called a finance lease but is effectively 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.
The simplicity of the leasing program
“The leasing program is a straightforward, 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 of Domino. Patrick Wafer and Ryder Fyrwald, owners and co-chief executive officers of Alros Label explain, “One of the bigger 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 attractive rates, made it a no-brainer for us.”
“Our leasing programs are geared to all companies, whether that be a small company that needs some financial help from us, to large companies that want to be able to protect their cash flows or invest in other areas. We’re helping them do that,” explains Herrtage.
Easy process, competitive rates
Label converters find that Domino’s leasing offers are at competitive rates, that are usually lower than banks or third-company leasing companies provide. Plus, you’re dealing directly with Domino, and no personal guarantees are required.
“They came to me, brought the contracts, we went over the details, and it got done shortly. It was pretty awesome because you’re dealing directly with Domino. The relationship with Domino, not only the equipment, but the leasing and financing go hand-in-hand and, in my opinion, it works best because everything is together and handled by one company. To me, that was the best choice I could have possibly made,” explains Christopher Stoehr, president of Southwest Label and Printing.
Flexibility with in-lease structure
The lease can 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 before making their first payment. “We offer a ramp-up program whereby they can have a press on a lease and pay nothing for the first six months. Basically, they pay only for their ink. After six months, they can start the payment through the margins they generated from what they’re selling using the Domino N610i,” says Herrtage. Emily Kroll, account manager of Domino, adds, “We’re supporting the ramp-up process so that you’re making money as quickly as possible.”
The bundled package provides business in a box
Kroll says, “There is always a question – Why should I buy a digital press? With this program, the question actually becomes, Why wouldn’t I buy a digital press? It includes service, maintenance, training and printheads. So its really nice that customers get to have that fixed monthly amount. There are no uncertainties.”
“The monthly payment will not only 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 Herrtage.
Wendell adds, “We provide all the resources to train their operators. If they want to train their sales staff, we can do that. It’s basically, business in a box.”
Trade-in guarantee, future-proof and revolutionary
“One of the best things with the Domino lease program is that it’s also backed by our trade-in guarantee programs. If there is a new product launch and you want to move to that, we will take back the press that you have and recreate a lease for you. We have a robust trade-in program,” says Herrtage.
Kroll put exclamation points on the key benefits of this program, “I think the main advantage to Domino’s leasing program is it allows your business to grow with the advancements made in digital technology. Digital is the future, and the Domino N610i and the leasing program that we’ve put together is revolutionary.”