Connections
Avoiding Common Mistakes When Negotiating Printing Equipment Leases
In the printing industry, equipment leases are a massive money maker and estimated to be worth about $3 billion. Sign shops, print providers and small print shops are leasing everything from presses and copiers to colorimeters and UV printers in an attempt to stay on top of changing technology without having to make massive capital investments.
In fact, I’d be willing to bet you have at least one piece of leased equipment in your shop right now, if not more.
And, while a lease payment is often significantly cheaper than a loan payment, those costs can still add up. But did you know that carefully reviewing every lease can save you as much as 5 to 15 percent over the total cost of the lease? So, how do you do it?
Always Get Quotes
Your clients will visit multiple printers for quotes on jobs, so do the same with your next lease agreement. Remember, you don’t always have to lease from the manufacturer itself, so get multiple proposals from various leasing companies and let them know they’re bidding for your business.
Get All the Documentation With Every Quote
Before you can really evaluate a proposal or quote, you need to see the fine print (because that’s where a lease can hurt you). So, ask the bidding lease company to Read more
Fight the Big Box Stores Part 1
Focus on Business-to-Business Opportunities
You may not be able to beat the big box stores like Office Depot or Staples when it comes to advertising, promoting and marketing yourself to the mass public, but you can pin them to the mat on networking with other local businesses in your area.
Business to Business Will Save Your Business
By developing strong, personal relationships with other business owners in your area, you’re setting the foundation for future sales. For example, when my friend first started out in the print shop business, I told him to join his local business networking group and to do it quickly.
He attended meetings, he joined golf clubs and he even bought tickets to breakfast lectures and do you know what he got? Direct, face-to-face contact with all of his current best customers. The big box stores can’t compete with you on that, so you have to capitalize on it.
Make it Personal
A big-box printer may be able to charge a few cents less per copy, but they generally have an untrained kid behind the counter and Read more