The Photocopier Lease: ‘Through The Ages’
The above ‘documentary’, tells the story of how the photocopier lease has grown and developed since its launch in early 1960. (Or, to be more exact, it shows how the photocopier lease hasn’t changed in over half a century!).
The video documentary is 45 minutes long. If you prefer not to see Grant talking to himself in various wigs for that length of time, a shorter 25 minute version can be viewed here:
Here’s the photocopier lease story:
On the 16th September 1959, Haloid-Xerox (not “Harold Xerox”, as
Grant Mr. Lennon confuses the name in the video!) launched the first ever commercial plain paper copier.
But Xerox had a massive problem. The cost of the machine was so expensive, they realised the machine would be almost impossible to sell.
To overcome this problem, they created the photocopier lease.
Grant admits he used a little ‘artistic licence’ in his video. Because the lease first offered by Xerox, did not have a minimum term of hire. They didn’t need to protect their customer base by locking them into 3 to 5 year contracts… because they had no competitors!
But, the minimum lease term was soon introduced once competition arrived and since then, there’s been no change.
The lease has continued to be sold as a tool which provides businesses with freedom and flexibility, allowing them to upgrade their equipment early to keep pace with technology.
That’s a myth. Remember, Xerox created the photocopier lease to sell more machines – not to help their customers!
Back in 1960 it was normal for the salesman not to even mention a purchase price. They didn’t want their potential customers to know the equipment cost, in fear of them losing a sale. It was far easier for them to ‘sell’ a lower monthly figure.
– Oh, that hasn’t changed.
Back in 1960 businesses were under enormous pressure to choose the right machine and supplier for them. Because once they signed the lease agreement, they were powerless to change either.
So, if they changed their mind a week or two later, or realised they needed a faster machine, or they required more paper trays… tough! They’d have to soldier on, with an inadequate machine, for at least the next 3 years.
– Oh, that’s still the case now.
Back in 1960 the customer could upgrade their machine during the lease term, but it wasn’t as flexible as it sounded. Because if they upgraded during the lease term, it created a ‘Settlement Figure’.
This Settlement Figure contained:
The total of all remaining lease payments.
PLUS – Interest on all the remaining lease payments.
PLUS – The cost of the new machine
PLUS – Interest added to the new equipment finance
PLUS – Compound interest added on to the settlement figure
– Can you imagine that nightmare?… Oh, that’s still how it works now.
Back in 1960 once the customer had finished paying all the lease payments, plus all the interest on those lease payments – they still did not own the machine!
– It’s a good job in today’s fast moving, flexible, business friendly environment that we’re not constrained by such inflexible practices…
Oh dear…. we still are.
But not anymore.
Because today is a brand new day. A new day where the revolutionary Total Flexibility Programme offers a fresh approach and delivers real VALUE, real CHOICE and real CHANGE.
Today you can choose a programme…
>Where you can choose the ideal machine for you without wasting time in meetings with salespeople.
>Where you are guaranteed lease acceptance, regardless of the size of your business or how long you’ve been trading.
>Where you pay no interest on your lease payments.
>Where you can change your mind within the first 90 days and return the equipment – no questions asked.
>Where you can switch service tariffs if your print volumes change, to make sure you’re always receiving the lowest service rates.
>Where you can change your equipment whenever you choose after just 12 months – with NO settlements figures or financial penalties to pay.
>Where you can choose to either KEEP or return the equipment at the end of the lease agreement.
TODAY – for the first time in history – you have a CHOICE.
You can reject the old, inflexible, salesman focused 1960’s photocopier lease and embrace the modern, flexible, customer focused Total Flexibility Programme.
Now see which machine Grant recommends for you, in your personal presentation. Just follow these four steps:
Step #1. Press the ‘Start’ button below to start the Smart Requirement Finder.
Step #2. Answer a few questions about your copying and printing needs (Grant will be there on the other side to help, if you need it).
Step #3. You’ll receive two emails. One asking you to click a link to confirm it was you that completed the Smart Requirement Finder. Then an email from Grant which will also contain the link to your personal micro site.
Step #4. Sit back, relax and watch Grants personal presentation.