OEM Domino Printing (Gurnee, Illinois) has introduced an in-house leasing program for label printer converters of all sizes for its leading digital UV inkjet production press, the Domino N610i. The OEM pointed out that digital printing is on a strong upward trajectory and 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 businesses, Domino added.
How Domino’s in-house leasing program works . The in-house 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. “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,” said Mark Herrtage, Finance Director at Domino. “Our leasing programs are very much geared to all companies, whether they 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.”
Patrick Wafer and Ryder Fyrwald, owners & co-CEOs of Alros Labe, added: “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.” Domino added that the program offers competitive rates that are generally lower than banks or third-party leasing companies. “Plus, you’re dealing directly with Domino and no personal guarantees are required.” The lease can be even be structured with deferred payments to allow customers to ‘ramp-up’ their digital business – building their press bookings prior to making their first monthly payment. The company also offers a ‘Ramp-Up Program’ where users can access the press on a lease, and pay nothing for the first six months. After six months, users can then start to pay for the press through the margins they generated from what they’re selling using the Domino N610i.