With digital printing more relevant than ever, Domino went to great lengths to develop an in-house rental program. The program allows customers to pay for their new Domino N610i digital UV inkjet label press over a period of time, making it more affordable for converters to enter this growing market.
As part of L&NW Label Insights, we recently sat down with Mark Herrtage, Chief Financial Officer at Domino, who explained the details of this program and how to get started.
Marc Herrtage: The Domino internal leasing program 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. In the United States it’s called a dollar buyout lease, in other parts of the world it’s called a financial lease, but it’s actually a purchase of capital whose payments are spread over a period of time. Thus, at the end of this period, the customer would then become the owner of this press.
If I had to sum it up, our in-house leasing program offers attractive low rates, with fixed monthly payments, no large down payment, no personal guarantees required, and no banks or third-party leasing companies involved. You deal directly with Domino. We have a Ramp Up program with deferred payments – bundled with service, maintenance, training, printhead and digital solutions programs. We also have a time-tested take-back guarantee. The benefits are endless with this simple, easy and flexible program.
MH: We saw a terrific response. In fact, most customers use our internal rental program instead of an initial capital outlay to acquire the Domino N610i. It’s so easy and affordable. We have some examples of what customers are saying about the program.
Patrick Wafer and Ryder Fyrwald, owners and co-CEOs of Cover Label. “One of the great things about the Domino funding program for us is the ability to invest in other things…sales, marketing, hiring new employees are all ways we will grow the business. business, and with the financing, it allows us to do that. We don’t have the cash available to buy one of these machines. So having a financing option and the ability to pay it back over time, as well as really attractive rates, made it a no-brainer for us.
Christopher Stoehr, president of Southwest Label & Printing, says, “They came to me, they brought me the contracts, we went through everything and it was boom, boom, slam dunk, done. It was awesome. You deal directly with Domino. No bank is involved. The relationship with Domino, not just on hardware, but leasing and financing, goes hand in hand and, in my opinion, works best because it’s all together. Everything is managed by one company. For me, it was the best choice I could have made. »
MH: The Domino N610i UV digital inkjet label press is supported in this program. Chris Gleis, President of Factor Forms & Labels Niagara, Ltd., said, “The Domino N610i will allow us to continue to grow at double digit percentages each year. This technology is best in class and will allow us to print the absolute best quality for our customers.
MH: Digital printing is on a strong and upward trajectory. Today’s label converters, more than ever, understand the value of digital in their arsenal. As brand owners increase SKUs, versions, and customization, coupled with the demand for faster turnaround times, lower inventory, and consistently superior print quality to differentiate their products on store shelves, label converters are realizing that digital is not just a “nice-to-have” but rather a “need-to-have” to compete, retain customers, enter new markets and grow their activity. Yet, not all converters can afford the capital outlay of buying a digital press. Then Domino makes it easy with our in-house rental program.
To get started, all converters need to do is contact Domino. We can run samples of their artwork files so they can see the consistent, repeatable, high quality labels printed on the Domino press. We can perform ROI and TCO calculations for them, so they know in advance if digital is right for their business.
MH: With the Domino In-House Leasing program, the lease can be structured with deferred payments to allow the customer to “grow” their digital business… by building their volume of business to put on the Domino press, before making their first monthly payment. . Thus, the customer can rent the press and pay nothing for the first six months. All they pay for is their ink. And after six months, they can then start paying for that press from the margins they’ve generated on what they sell with the Domino N610i.
MH: At Domino, our customers are our business partners. Our leasing programs are for all businesses, whether it’s a small business that needs financial assistance from us or large corporations that simply want to be able to protect their own cash flow. or invest in other areas. We help them with that. And one of the benefits of the Domino Rental Program is that it’s also backed by our Trade-In Guarantee Program. If something new is launched and you want to switch to that, we’ll take back the press you have, and simply recreate a lease for you. We have a very strong exchange program.