L&NW: What are the benefits of using Domino’s Internal Rental Program?
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 this is called a dollar buyout lease, and in other parts of the world it is called a financial lease, but it is 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.
L&NW: What kind of response have you seen from customers so far?
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, said: “One of the great things about the Domino funding program for us is the ability to invest in other things – sales, marketing and marketing. Hiring new employees are all ways we will grow the business, and with funding, it allows us to do that. We don’t have the money available to buy one of these machines. So having a financing option and the ability to pay it back over time, along with 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.”
L&NW: What is important for converters to know about the program when considering getting into digital printing, and where to start?
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, build customer loyalty, enter new markets and grow his activity. Yet, not all converters can afford the capital outlay of buying a digital press. So Domino makes it easy.
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, and we can perform ROI and TCO calculations for them .
L&NW: How has this program helped label printers given the challenges posed by the pandemic and other supply chain issues?
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, 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.
L&NW: How does the internal rental program relate to Domino’s commitment to customer service?
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.