Finance & leasing “Vending businesses may no longer choose to provide ‘cash box’ or ‘free on loan Tower Leasing’s Kevin Reed


machines’ and I don’t see customers rushing to pay for vending equipment upfront. “No one wants buying decisions taking longer and customers may choose to


maintain old equipment until there is an essential need to purchase new equipment. We need to drive more sales.” Considering the above, a leasing option might offer the best solution for both operators and their customers. Here are some of the benefits:


For operators: • Selling more - Your customers pay smaller, more manageable payments over time, rather than one lump sum upfront.


• More payment options - By offering traditional leasing, staged payments, low-start finance, ‘interest-fee’ along with cash purchase, your customers can consider choices.


• Customer retention - Your customers can upgrade their equipment any time throughout the lease period, simply by restructuring the schedule of rentals. Tower Leasing, for example, promotes new ‘accelerated’ upgrade programmes and term extensions, where customer needs have changed but new equipment may not be necessary – still allowing the operator to realise revenues and protect operating agreements.


For customers: • Acquire the equipment based upon their needs, not just when budgets allow. • Keep up with the latest technology (touch free or cashless solutions are calling) with the ability to upgrade at any time throughout the lease period.


• Structure lease payments to suit customers’ needs and allowances. • Advantageous tax allowances.


“At a time where many customers may have had a ‘poor’ year and credit scores may


be affected, flexible, supportive underwriting and attitudes to risk are paramount in supporting operators’ sales growth. “We are here to support the vending industry in today’s current pandemic. Tower will


continue building a relationship with new and existing partners and help your clients continue running their businesses and thrive on the other side.”


home, the impact on vending businesses is profound. If, as anticipated, employers choose to embrace this hybrid work


Time to adapt to a new way of working A


ccording to the European Vending Association (EVA), 80% of vending and coffee machines are located in workplaces, so with so many people either on furlough or working from


from home/office model post-pandemic, then vending will need to adapt accordingly, according to David Jackson, sales manager - Vendor at Siemens Financial Services in the UK (pictured). “But if we have learned anything from the past 60 years of


supporting our customers with smart finance, it is that they have an entrepreneurial spirit like no other. We have seen our partners adapt and diversify their products and marketplaces at a lightening pace. Siemens Financial Services (SFS), has been aware of change in the


market coming for some time and has consequently spent the last several years digitally transforming its offering into a smart finance environment where vendors no longer need to physically visit their customers to complete new finance deals. David says: “We have created a digital eco-system where vendors


can see their entire portfolio in a matter of seconds and have introduced them to new asset types to help re-build their businesses. “We have removed the need to rely on key individuals to get things


done. We continue to innovate, and this foresight has been key to supporting our vending customers in these extraordinarily volatile times. “The vending industry will bounce


back, but vendors will recover at different speeds. “Our priority is to help businesses in


the vending industry embrace change. We have built the tools to access innovation and digitalisation and we’re already seeing the leading vendors seize that opportunity.”


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