Tagged With "Lease Agreement"
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Re: Ten Ways Copier Reps Can Make Their Proposals Stand Out to Win More Orders!
Thanks. Good reminder. Enjoy the holidays.
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Re: 57 Days of Selling "Day 47"
Art, these are great for our sales teams. Keep them coming. Thank you. Carl Carl Little Director of Business Development Datamax KC 913-752-2256 (direct) 913-333-7180 (cell)
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Re: 57 Days of Selling "Day 47"
Karl Thank you! Please feel free to share via social media also! Ten more to go. I was just thinking about doing a journal for the entire 2017. Art
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Re: 57 Days of Selling "Day 47"
I am seeing more of that with wide format recently and I am not sure why. Most of what I have seen has been where they are running the same volume as before but they just don't want to have a machine anymore so they outsource it and it doesn't seem to matter if the machine was leased to them for a $1 a month they still wouldn't do it.
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Re: Ask Me Anything
Sounds like I missed a good knowledge drop last week Art! Had a pretty good excuse, but love the topics discussed! I'm always learning and part of this ongoing learning is something from your blogs/emails that I throw in my knowledge bucket. Keep it up and I appreciate what you do!
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Re: Ask Me Anything
@TML Yup anytime there;s a new family member it over rides anything that has to do with business. Hope to have you on the next call. Just remember to RSVP on the calendar and I will send you the link
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Re: 7 Deadly Topics from 7 Deadly Sinners at Top 100 Summit (Part One)
I disagree that you have to own the network in order to offer seat-based billing. Before I go into why, can we (imaging industry) please stop referring to Managed Services as MNS? No one in the IT world uses this term; it's industry jargon that makes you stand out as a copier dealer 1st and an IT Services provider 2nd. Managed IT Services, Managed Services...fine. MNS needs to die. Now, here is why I disagree that you have to own the network as a client's Managed Services provider in order...
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Re: 7 Deadly Topics from 7 Deadly Sinners at Top 100 Summit (Part One)
Originally Posted by txeagle24: I disagree that you have to own the network in order to offer seat-based billing. Before I go into why, can we (imaging industry) please stop referring to Managed Services as MNS? No one in the IT world uses this term; it's industry jargon that makes you stand out as a copier dealer 1st and an IT Services provider 2nd. Managed IT Services, Managed Services...fine. MNS needs to die. Now, here is why I disagree that you have to own the network as a client's...
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Re: 10 Ways to Close Net New Business #4 of #10
Just a short update in reference to the account I was speaking about. The IG came back with many additional questions today, asking if the cost per page could be lowered, the annual cost of the maintenance agreement, and the price of the system. I stated NO on all accounts. We had started with a 25ppm color A3 device and then moved to an A4 color device. They were not even happy with that price. In addition when they received all of the no's they asked about pre-owned or used. I then stated,...
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Re: Global Imaging aquires Conestoga Business Solution
Global Acquires Pennsylvania-based Conestoga Business Solutions - Tuesday, July 07, 2015 Global Imaging Systems Acquires Pennsylvania-based Conestoga Business Solutions; Bolsters Xerox’s Presence in SMB Market LANCASTER, Pa., July 6, 2015 – Global Imaging Systems (GIS), A Xerox Company, has acquired Conestoga Business Solutions, an award winning, independent office equipment dealer in the Pennsylvania region. The company will offer the full range of Xerox office and printing technology, and...
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Re: Bad salespeople still exist, don't they?
Spot on Art. I love Gary Vaynerchuk's famous quote, "Legacy is greater than currency." You never know where you will be in 5 years. Walking away from every deal with your reputation and integrity intact is more important.
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Re: Charge for IT support
We had never charged for it after the sale until about 6 months ago due to people calling all the time for driver installs, scanning issues related to their internet etc. We used to offer an optional network/it yearly agreement and people would decline and then start calling for help. We decided to send out, initially an opt-out to ever customer who had current devices, and after every sale send one out. We did it as an opt out due to the fact that customers would decline the option and...
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
In my opinion, what the dealer was funded is not material. That is between the dealership and the leasing company. If it truly is insurance to cover just the device you either insure for the amount necessary to cover the debt should something happen which would be sum of payments plus the residual value or insurance to cover the replacement cost. However, most office equipment is covered under a blanket policy covering all building contents.
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
To be on the safe side, I always give my clients the MSRP on the equipment as the number they should provide to their insurance company.
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
txeagle seems you may have the best answer, just quote them MSRP and we should be safe. We just went through one of these where the copier was damaged by fire and was covered under the BOP policy. The insurance company paid the stream of payments plus the residual. I'm always somewhat concerned when I have to quote a price to the customer and then that customer uses that for the value of the equipment to the leasing company. If you sell at MSRP and the equipment is leased, then you need to...
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
If you sell at or above MSRP due to significant GP or because a buyout was involved, I would quote the Stream of Payments of the hardware + the buyout, excluding the portion of the monthly payment attributable to Service/Supplies in the case of a bundled lease/service agreement.
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
Tx, ty for this this. I don't bundle MA/Supplies. I just don't want my customer to get jammed in case there is a loss. We've had quite a few losses here in NJ with the storm from a few years ago. I'm just looking for the right thing to do for customers who opt out of the leasing companies insurance. I'm somewhat skeptical of giving them stream of payments plus residual, may open up a can of worms.
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
I've had the question come up a few times over the year and I simply give them full MSRP for the machine and all accessories as the amount.
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Re: Your Copier
Welcome back😀 https://www.p4photel.com/blog/...-the-copier-industry 6 Reasons Why Flat Rate aka One Rate Will Change the Copier Industry Art Post 36 minutes ago I remember when plain paper copiers used rolls of paper and not sheets. I remember when the glass on the copiers had to move back and forth. I remember when copiers used liquid ink (toner) to produce an image. I remember when you used a dial to set how many copies you wanted to make. Yup, it's been a pretty incredible journey to see...
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Re: Five Reasons Why I'm Stoked About the New Ricoh SP8400DN Printer
No, we are not doing any of those agreements with our MFP's. With the printer the device billing would not include the drum, or fuser. Client would pay for those. Device billing is a practical maintenance agreement for the new A3 ink based MFP's. Epson will be launching their 100ppm color device shortly. The only consumables is the print head and the ink. It's rumored that the print head will be warranted for 3 years. In addition the print head is very costly. The idea would be to charge...
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Re: Five Reasons Why I'm Stoked About the New Ricoh SP8400DN Printer
Thanks. Interesting. I wonder what the advantages and disadvantages of those ink jets are (compared to laser MFP).
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Re: Are Copier Sales Reps Asking the Right Questions
As you said, this blog wasn't meant to cover all the bases but your comments about brand loyalty and brand/service provider loyalty are only true if the decision maker has been the same for each decision. If you aren't talking to the owner, you may be talking to a totally different person than the one that made past decisions. You need to know that before you decide whether to pack your bags and walk away. Also, in a leased equipment environment, the decision to stay with the same brand and...
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Re: Kyocera finally put's out a low volume A4 Color
Looking for feedback on this. Has anyone sold these are had a chance to put hands on it and get an opinion. What type of service rates would you charge for toner inclusive service agreement on this?
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
If anything you should be bumping outright purchase prices and discounting leases. The customer who purchases their equipment outright keeps their equipment too long and may go elsewhere when the time comes to upgrade anyway.
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
Maybe not such a bad thing. This makes shorter term leases with less interest more attractive and therefore leases can be turned faster as long as your not padding your leases to begin with.
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
This bill may not apply to Fair Market Value leases. There is no mention of establishing the residual value of the asset which makes the interest rate impossible to calculate. Is a .0278 rate on a 36 month FMV truly -0- interest? Of course not. If you don't end up with title to the equipment, you really haven't financed anything. What is the interest rate on a Hertz Car Rental? What is the difference between that an a 36 mth FMV other then the length of term?
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
Hello Art and the rest of the P4P members - Our industry association (ELFA), along with several independent law firms that represent many of our industry members are reviewing this legislation to determine the actual effects it will have on the industry as a whole and to provide guidance so that our members will be in compliance with the legislation. What we know at this point is that is you are involved in offering financing to businesses in California, you will be subject to this...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
Padded lease rates are used to "pad" the pockets of dealer principals who are taking commissions away from their sales people. It's a dishonest but standard practice that should be eliminated, so this sounds like healthy change in the right direction.
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
In some cases, more is made on the lease padded rate than the salesperson makes in commissions. Others may tell you that they use the "padded" rates to create promo's for the reps. Do I look like I need an incentive to sell? Frak that, if you need an incentive to sell then you need to get a job at Mickey D's
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
Here is a report from leasingnews.org. One of their legal editors is doing a three part review of this legislation. Leasing News Exclusive: State Senator Steven Glazer and the genesis of CA SB 1235 (Part 1 of 3) By Tom McCurnin Leasing News Legal Editor This is important not only if you are doing commercial business in California, but this may affect other states. If you are new to this, here is legislation passed both the assembly and senate, awaiting California Governor Jerry Brown’s...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
Part Two: Leasing News Exclusive: The Opposition and How Senator Steven Glazer Got SB 1235 Passed (Part 2 of 3) By Tom McCurnin Leasing News Legal Editor The bill was "Engrossed and Enrolled" and presented to the Governor at 5 p.m., September 12th, awaiting his decision to sign or veto. How He Pushed It Through the Legislature What are the takeaways from this interview and SB 1235? ▪ First , I Was Surprised at the Overwhelming Support of Trade Groups for the Bill. When he rattled off the...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
Part Three Leasing News Exclusive: Is the Disclosure Too Complicated? State Senator Steven Glazer Position on CA SB 1235 (Part 3 of 3) By Tom McCurnin Leasing News Legal Editor The bill to require full disclosure of interest rates is awaiting Governor Jerry Brown's signature. It was reviewed to be recorded and sent to his office late last week. It seems unlikely he will not sign it as it passed the State Assembly 72-3 and in the Senate 28-6 .It then will be up to the California Department of...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
from today's Leasing News. Ralph Petta Reaction to Tom McCurnin's "Is the Disclosure Too Complicated? of SB 1235" [ http://leasingnews.org/hires/petta_ralph2018.jpg ] From: Ralph Petta President and CEO Equipment Leasing and Finance Association 1625 Eye Street, NW * Suite 850 Washington, DC 20006 "Allow me to take exception and set the record straight with respect to Mr. McCurnin's statement in his September 21 article(1) about passage of disclosure legislation in California, SB 1235 that...
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Re: Oki 1450 vs Ricoh 6700 wide Format
So, the Oki or Teriostar 1040 is one page per minute faster than the Ricoh. Oki wants the user to replace the corona wire cartridge and the process cartridge. I believe the process cartridge is the drum. Now, the memories come back, if an end user scratches that drum, it's on the user to replace the drum which is going to be a very pricey item. If I was a business owner I would not want my peeps handling a part that has a cost of $1,500-$2,000. If they scratch it, it's on me to buy another,...
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Re: UPDATE 3-Canon buys Dutch Oce for $1.1 bln, fights Ricoh
So, will KM enter a better bid?? Read below: Océ may terminate the conditional agreement with Canon in the event that a bona fide third party makes an offer which is, in the reasonable opinion of Océ’s Management Board and Supervisory Boards, superior to the Offer. An alternative offer shall only be regarded as superior in the event its bid price exceeds the Offer price by 10%, or in the event of a consecutive bid by 5%. Canon has a right to match a superior offer. In the event the...
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Re: UPDATE 3-Canon buys Dutch Oce for $1.1 bln, fights Ricoh
SCENARIOS-Will Canon succeed in its bid for Oce? * Canon offering 730 million euros to buy Oce * Shareholder Orbis with 10 percent stake opposes offer * Oce shares remain above Canon's 8.60 euro offer By Harro ten Wolde AMSTERDAM, Nov 20 (Reuters) -Japan's Canon (7751.T) plans to buy Dutch copier and printer maker Oce (OCEN.AS) for 730 million euros ($1.09 billion), but large Oce shareholder Orbis said the offer undervalued the company. In response, Oce shares passed Canon's 70 percent...
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Re: #2 Riso Poll
On second thought, even with the recent distribution agreement, Pitney Bowes does not make sense. Ricoh has their hands full with IKON (or vice-versa) and Canon struck their deal with Oce. What about HP?
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Re: CBS NEWS REPORT ON COPIER SECURITY
This discussion has made me think that I perhaps need to update my blank Service Agreement to include new line items regarding HDD and info security. In a five year rental, people change. Without documentation, the person I talked to five years ago might not be around.
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Re: Are Step Leases ethical business practise?
Disclosure, disclosure, disclosure is the name of the game. I've not run into any step leases (yet) but know they are out there. I make it a policy to go over the T&C's of the simpliest lease agreement with the customer so that they understand full well. Can't tell you how many customers who were sold by former reps had now idea what the terms of their lease. To some it was a big surprise. Honesty and plain language is the best policy.
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Re: How to beat Global Industries aka Xerox
Are you saying your agreement covers third party software issues? So I can call your tech support if my MS Word stops printing? (even though everything else still prints).
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Re: Global Image Charge Wording
Our agreement says the same thing. Otherwise, no one who can utter the phrase "I never got the bill" ever has to make a payment, or we must send all invoices certified at extra expense. At a MINIMUM, you owe $311.15 EVERY MONTH. Pay it EVERY MONTH, whether you get an invoice or not.
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Re: "What is" Section 179
Leasing and Section 179 Did you know that your company can lease equipment and still take full advantage of the Section 179 deduction? In fact, leasing equipment and/or software with the Section 179 deduction in mind is a preferred financial strategy for many businesses, as it can significantly help with not only cash flow, but with profits as well. Non-Tax | Capital Lease The main benefit of a non-tax capital lease is that you can still take full advantage of the Section 179 Deduction, yet...
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Re: Up against Toshiba eStudio 2330
We don't typically write a CPP that low for color, but we do replace the development units & drums for our clients as part of the service agreement. CPP is between $.07 & $.085 depending on the volume.
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Re: MPS And Profit
There are a number of factors that impact start-up cost for MPS clients. In the traditional "copier" world, prior to putting machines under contract we would inspect them, perform service to bring it up to spec and bill the client. In MPS, we just put them under contract, so the start up cost can be virtually nothing or cost an arm and a leg depending on the condition of the machines that are being placed under an MPS Agreement. Another factor is how much toner the client has on hand prior...
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Re: Google Cloud Print Opens Access to Printers Across the Globe
I tested it yesterday on an old Ricoh 3245c. It worked well on a PDF brochure aside from the fact that it didn't apply duplexing. On a Lease Agreement out of Word, it was a total debacle, not even close to being correct. I believe it split into 8 pages.
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Re: Q. How does your company handle networking charges?
1st 90 days, all inclusive, with no time limit on hours required to get the customer to say they are happy. Thereafter, billable at $95.00 per hour onsite. Dealer, Canada
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Re: Q. How does your company handle networking charges?
I think we all struggle with where to draw the line. The point I make with my Sales force, as well as with my customers is if you come in one day and you can't scan to email, but it was working fine yesterday the customer perceives this as "my MFD is broken" because one or more of the functions have stopped working. But most of the time nothing on the MFD is broken. The configuration is the same as it has been for the last 6 months (or 2 years). What most often has changed is something on...
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Re: Q. How does your company handle networking charges?
Mid-sized dealership in Midwest- We have recently added a section to our maintenance agreement where the customer has to check either a network services rider($195-295 per year depending on the customer) or check the box that says if you don't check the above box, you will be billed $xxx per hour for network services. This doesn't mean as a salesperson we can't either remote in or stop out and load a print driver, but the customer up-front knows that we now charge for IT services. A couple...
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Re: Color Print Control
We default every color device we install to black & white. Are we losing some revenue on CPP contracts as a result? Of course we are. Is this money the client would spend if they were not covered under a toner-inclusive agreement? No, because there would be no black and white documents that would accidentally use color toner. If part of our value proposition is to help a client reduce the expenses associated with managing their printing systems by creating a strategic outsourcing...
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Re: Color Print Control
Thanks for the feedback. txeagle24, I'm a little confused by this statement: there would be no black and white documents that would accidently use color toner. This sounds like you're talking about process black (which normally clicks as black). What I'm talking about is if the printing is not defaulted to B&W when the customer prints mapquest or something with a hyperlink it prints and clicks color. This is regardless of whether they have a toner inclusive agreement or not. If the...