With digital printing more relevant than ever, Domino has gone to great lengths to develop an In-House Leasing 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, finance director at Domino, who explained the details of this program and how to get started.

L&NW: What are the benefits of going with Domino’s In-House Leasing Program? 
Mark Herrtage: The Domino 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.  In the United States it’s called a dollar buyout lease, in other parts 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. 

If I were to summarize it, our In-House Leasing Program provides attractive low rates, with fixed monthly payments, no large cash outlay, no personal guarantees required and no banks or third-party leasing companies involved. You’re dealing directly with Domino.  We have a Ramp Up Program with deferred payments – bundled with service, maintenance, training, printheads and Digital Solutions Programs. Wel also have a future-proof trade-in guarantee.  The benefits are endless with this simple, easy, flexible program.

L&NW: What kind of response have you seen from customers so far?
MH: We have seen a tremendous response. In fact, most customers are utilizing our In-House Leasing Program instead of an upfront capital expenditure to acquire the Domino N610i. It’s just so easy and affordable. We have a few examples of what customers say about the program.    

Patrick Wafer and Ryder Fyrwald, owners and co-CEOs of Cover Label. “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.”

Christopher Stoehr, president of Southwest Label & Printing, says, “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. There are 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.”

L&NW: What Domino technology is supported in this program?
MH: The Domino N610i digital UV inkjet label press is supported in this program. Chris Gleis, president of Factor Forms & Labels Niagara, Ltd., says, “The Domino N610i is going to allow us to continue to grow at double-digit percentages every single year. This technology is best in class, and it’s going to allow us to print the absolute best quality for our customer base.”

L&NW: What’s important for converters to know about the program when they’re thinking of expanding into digital printing, and where do they get started?
MH: Digital printing is on a strong, upward trajectory. Label 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 and consistent 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 be competitive, retain customers, enter new markets, and grow their business. Yet not all converters can afford the outright capital expense of purchasing a digital press. So, Domino makes it easy with our In-House Leasing Program.    

In terms of getting started, all converters need to do is reach out to Domino. We can run samples of their artwork files so that they can see the consistent, repeatable, high-quality labels printed on the Domino press. We can run ROI and TCO calculations for them, so they know upfront if digital is a good fit for their business.  

L&NW: How has this program assisted label printers given the challenges brought about 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 “ramp-up” their digital business… building their book of business to put on the Domino press, prior to making their first monthly payment. So, the customer can have the press on a lease and pay nothing for the first six months. 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.

L&NW: How does the In-House Leasing Program tie into Domino’s commitment to customer service? 
MH: At Domino, our customers are our business partners. 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. And one of the nice things with the Domino lease program is it’s also backed by our trade-in guarantee program. 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.