Digital equipment lease

[TrueAmericanSigns]

Are there any recommendations as to which leasing company would work best with digital printing equipment with a new start-up sign business? I do realize there will be a higher rate as a risk for being a newbie. Thanks!

 

[iSign]

If you have a relationship with your own business banker, that might be a good approach.

GE Capital is one of the bigger players who helped me out a few times...

 

[jiarby]

i have used Omni Leasing in Colorado for our laser engraver and mutoh valuejet.

 

[PHILJOHNSON]

Time Payment is great for start up type leasing. If not, GE capital is a great alternative.

 

[Pat Whatley]

I'd recommend not doing it. Seriously. As a new start-up business you have no idea where your market is going to allow you business growth to be. Find a good, reliable wholesaler and sub out your work until you're so covered up with projects you're forced to buy your own machine.

Don't fall into the trap of thinking you have to have $50,000 in printing equipment just because you think every other shop has it.

 

[speedmedia]

I'd recommend not doing it. Seriously. As a new start-up business you have no idea where your market is going to allow you business growth to be. Find a good, reliable wholesaler and sub out your work until you're so covered up with projects you're forced to buy your own machine.

Don't fall into the trap of thinking you have to have $50,000 in printing equipment just because you think every other shop has it.

+++++1. This is great advice.

Thanks,
Kurt

 

[wes70]

Listen to Pat!

 

[signage]

+3 on Pat Great advice!

 

[Firefox]

As much as brokers tend to leave a bad taste in my mouth I have to agree with the advice given.
If you are determined to jump into this business it is a good idea to stay as debt free as possible. Starting slowly and building a customer base that will eventually pay the bills for future equipment is a conservative approach that might keep you from going under before you get started. You can also get a feel for where your market is leading you and make better informed equipment purchases.

 

[James Burke]

Cash is KING. Start small and grow at your own, healthy pace. It's not the most glamorous way but it sure is nice when you don't have a banker breathing down your neck when things are slow.

Heed the warnings posted above, there's much wisdom to be learned.

 

[Mainframe]

I am confused as to why someone would answer this post with a warning to not buy a printer, John & Susan didn't ask if they should buy a printer, they were asking about a good leasing company reference, hoping to gain an inside track on a reputable leasing firm, I have info on one but it is at the shop & I am home so I will have to post it later, As for whether they should or should not get one is a complicated matter in itself that requires the weighing of many factors, they may already have experience with the whole business end of using one & also may have a few great customers lined up, the printer may be the only debt they would incur for the start up, they may also have another source of income to help stabilize the unexpected ups & downs of a start up, and many other variables that would factor in. In my opinion to buy a printer or not is a business decision that for a start up would heavily depend on if in fact you could get financed for it. You then would have to weigh the other factors in accordingly. I must say I have run my shop without a printer at start up & in my local it was pure hell until I got one.

 

[TrueAmericanSigns]

I am confused as to why someone would answer this post with a warning to not buy a printer, John & Susan didn't ask if they should buy a printer, they were asking about a good leasing company reference, hoping to gain an inside track on a reputable leasing firm, I have info on one but it is at the shop & I am home so I will have to post it later, As for whether they should or should not get one is a complicated matter in itself that requires the weighing of many factors, they may already have experience with the whole business end of using one & also may have a few great customers lined up, the printer may be the only debt they would incur for the start up, they may also have another source of income to help stabilize the unexpected ups & downs of a start up, and many other variables that would factor in. In my opinion to buy a printer or not is a business decision that for a start up would heavily depend on if in fact you could get financed for it. You then would have to weigh the other factors in accordingly. I must say I have run my shop without a printer at start up & in my local it was pure hell until I
got one.

Thank you all for the advice...it was very helpful And that is what we were looking for. A 54" digital system is all we need and would have to pay on. All other shop equipment has been paid cash out of our pocket so far including working capital. Merry Christmas all!

 

[Pat Whatley]

True enough, and they can do with that opinion whatever they want. I'm just speaking from personal observations of watching countless shops struggle to create a market for equipment they "had to have" because some salesman had convinced them of it. I think it's irresponsible not to mention is when someone describing themselves as a newbie asks a similar question.

 

[Firefox]

Thank you all for the advice...it was very helpful And that is what we were looking for. A 54" digital system is all we need and would have to pay on. All other shop equipment has been paid cash out of our pocket so far including working capital. Merry Christmas all!

Merry Christmas to you. Good luck with your new venture. I'm sure you will be popping in now and then so keep us posted on your progress.

 

[bayshorecreations]

I used Susquehanna Commercial Finance. They are in P.A. so far so good. I have no complaints with them.

 

[visual800]

I don't see anything wrong with someone being in business a good while offering some extra advice for a newbie. Subbing out rocks! Sure there is not much demand for waiting but it beats the alternative...losing your equipment.

Being strapped down to financing sucks, especially in this economy UNLESS they can do a 1 year lease and see how it goes. Personally I think they should look into buying used, there are TONS of machines for sale right now

 

[The Big Squeegee]

I support what Pat said.
I leased a printer and fell on hard times. They repossessed the printer and I still had to pay on the lease. The main problem with a lease is that you don't own it so you can't dispose of it until the lease is up. I dealt with Financial Pacific and if I had to do it over again I would sub out my printing until the company was mature enough for better rates for a purchase.

 

[Mosh]

Lease = Rent. SAVE YOUR MONEY AND PAY CASH! Or you will never get ahead.
It is like borrowing money to buy a car, people that do this will never be ahead in life,
no matter how they try to spin it. If they could afford the car they should be able to
pay for it. There is always some LAME excuse why they borrow money.

 

[Techman]

Lease = Flease
ITs that simple.

I agree with Pat too.
It seems those who are making a living and getting out of debt would have a valued opinion. It seems those who are really struggling would heed some of this valued opinion. I know I watch and listen to those who are making it all work. Those opinions have saved me lots of mistakes.

Outsource is the way to go. But again I am getting out of the digital and vinyl side of it. There is simply no market left of any value in vinyl. The prices are so low on wholesale that it would seem to be suicide to get a new printer. In fact I am outsourcing a job this week. 1,000 decals. It's just too easy to let someone else panic.

The footage that has to be run through it to just pay the lease is more than I care to bear.

 

[jwright350]

Don't lease, go to your local bank for best rates these days!