By: Jennifer Scherbring on March 4th, 2019
What You Need To Know About Adding Wide Format Printers to Your Service Offering
From the early days of analog to the advent of digital, the Office Technology industry continues to transform with technology. As a vendor relationship manager with GreatAmerica for 12 years, I have seen first-hand how office technology dealers have been able to evolve with the industry and bravely adopt new product lines and service offerings. Where we once sold products, we now sell full-fledged solutions. It’s this impressive ability to morph and pivot with the industry that has allowed our dealers to flourish, even in a world where users print less than they used to. Identifying areas where opportunity remains strong is what our dealers are best at. According to Keypoint Intelligence, one area dealers can find opportunity for business growth is that of wide format printing.
What is wide format printing?
Wide format printing is a type of digital printing which is roll fed. Like the name suggests, it is used for printing materials with wider dimensions on an array of different materials called substrates. Most often they’ve been utilized in the construction industry by architects, engineers and construction crews as a way to print blueprints, but more recently, businesses and organizations of varying types are finding use in having wide format printers in-house to enable the on-site production of large format artwork or signage including banners, posters, tradeshow graphics or backdrops.
How can I add a wide format offering to my Dealership?
While the opportunity is plentiful, without a finance partner who can handle the nuances that come with a wide format service agreement, selling and administering invoicing for the services and supplies on these large machines can be challenging. Wide format printers come with a hefty price tag attached, which makes overcoming price objections a challenge in itself. But because these machines do not produce consistent output in the form of uniform pages, billing for usage and/or overages is much more complex than a standard multifunction printer. If you are exploring adding these machines into your offering, it is imperative you partner with a finance company that has a program, and the billing know-how to accommodate the unique needs of these machines. Considering that many of the organizations seeking to buy these machines are doing so because they have a very real business need for them, the opportunity is ripe for the picking. Partnering with a finance company offering a program built specifically for the complexities of these machines, like GreatAmerica, will ensure your dealership is successful in supplying the wide format equipment and services these organizations need.
Most finance companies will offer programs that bundle the monthly payment, maintenance, and usage under one contract for regular printers. The same type of comprehensive programs for multifunction printers, however, are virtually non-existent--with the exception of cost-per-foot financing through GreatAmerica. Through this program GreatAmerica provides the upfront funding for the cost of the equipment, while also administering the invoicing for the bundled contract and passing through the services and supplies portion directly to the dealer.
The concept of cost-per-foot-financing is really very similar to a standard bundled contract for a multifunction printer. The application and funding process is the same – once credit has been approved, funding is provided to the dealer for the upfront cost of the equipment. The main difference lies in the way services and supplies are billed.
While multifunction printers are normally billed on a cost per image or device based billing model, wide format printers are billed based on the square feet printed. Just as with a bundled contract for a standard multifunctional printer, Cost-Per-Square-Foot Financing bundles the monthly equipment payment with the service and supply fee onto one single contract, allowing you to simplify your customers’ processes with a single monthly invoice.
Why Bundling Will Help You Sell More Wide Format Printers
Not only does this program reduce cost objections from your customers, but partnering with a finance company that has this capability can position dealers favorably against others in the marketplace who don’t offer these machines on bundled contracts. Most that offer financing at all offer in-house, equipment-only financing, treating services and supplies as a completely separate agreement. Others require an upfront cash purchase which doesn’t allow for the end-user to enjoy the benefits of financing their machines--like freeing up bank lines or preserving cash flow. Without a bundled program the arrangement for billing for the services and supplies on these machines can be clunky and unpredictable for the end-users.
Maximize Sales, Increase Profits & Grow the Value of Your Business
Cost-per-square-foot financing fills a gap in the marketplace for dealers needing a tool to help address the unique needs of a wide format printer service agreement. Dealers enjoy longer contracts, greater customer control and protection, and more consistent upgrades. This program can help dealers to differentiate themselves and take advantage of an opportunity in the marketplace to maximize sales, increase profits, and contribute to the overall value of their businesses through bundled contracts. At the same time, the end-customers will be given a better way to buy; through financing, they are enabled to scale their businesses while reserving cash and bank lines for initiatives that will impact their bottom line.
Want to learn more about our Cost-Per-Square-Foot Financing program? Download our FREE flyer and get in touch with a GreatAmerica representative today!
Jennifer has been a member of the Office Equipment Group Southeast team since joining GreatAmerica in 2007. Her favorite part of her job is partnering with independent office equipment providers and developing long-term, mutually beneficial relationships. In her free time she enjoys spending time with her husband and three daughters.