Equipment Financing Sign Of The Times
Author: Stephanie Clarke
Date posted: 01.23.23

A growing sign company in Dallas, Texas, produces premium quality signs in less than half the time of its competitors. From billboard signage to roof signs, A-frame stand-alone signs to yard signs, and everything in between, the company is dependent on high-end, heavy-production equipment to keep up with demand in a growing market.

As the company’s signs go up around the greater Dallas-Fort Worth metropolitan area, the business is being inundated with orders for new, improved signage for existing customers as well as new customers, both residential and commercial. For example, the booming housing market has new construction contractors seeking not only permanent signs for new neighborhoods but direction signs to guide potential homebuyers to new, move-in-ready homes as well as models.

 

The sign company also has a large social media presence which had begun getting requests from other parts of Texas and across the country. The plan is that by putting additional equipment in place in the manufacturing facility, the sign company can open an online store and grow the business even more.

The issue is each piece of equipment is unique. The machines which produce smaller signs seem affordable but keeping up with the necessary volume means more are need to meet growing demand. Larger signage requires larger pieces of equipment which is quite costly. Both types of machinery are digitally driven, which means little to no increase in the needed manpower for operation, though additional employees will be needed for sign installs throughout the region.

 

With the addition of an online store, additional team members will be needed to oversee and manage ordering and delivery, though no installation will be included for online sign orders.

 

To obtain the needed equipment to begin the expansion, Mike and Pete, hope to acquire two additional small sign printing machines and a single larger printing machine. Cost is a factor, but all estimates indicate they could repay the estimated $90,000 in loans over a short period of time due to the increased revenue anticipated.

When seeking financing options, the business partners found equipment financing, a loan which will allow the sign company to lease the machines over an allotted time period and ensure anticipated profits. If the new, leased equipment did not meet expectations, it could be returned at the end of the term.

 

The sign company partners went to work, completing the application. They had the revenue reports, bank statements, and credit score needed and set up a three year lease, at the end of which, they could purchase the printing machines or return them. The funding process took seven business days and the new printing machines were installed the following week.

 

Mike and Pete, the sign company partners were pleased with the additional equipment and realized the ability to meet the needs of new customers while managing existing customers accounts. By the end of the first year, they had bought out the small printing machines and were well on the way to completing the purchase of the larger machine as the company made significant strides in its expansion.

About The Author | Stephanie Clarke

Stephanie has a bachelor's degree in psychology and has been a professional writer for over 15 years. Her client list includes New York Times bestselling authors, publishing houses, prominent public figures and successful business owners. She resides with her family in Florida.

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