We recently caught up with James Tuck, Business Development Manager at Admiral Vending, to learn more about their business and discover how offering finance options through Tower Leasing has helped to propel their growth.
1. Can you provide a brief overview of Admiral Vending and your role within the business?
Admiral Vending supplies a range of coffee and snack vending machines nationally for many different purposes. These include desktop, Extra Large, Workplace, Manual Barista, and BTC. We also have a range of Confectionary machines for vending snacks, cans and bottles. All our machines are available with various finance options. We supply and support these machines with our local engineers and get your ingredients delivered as and when they are needed.
My role as business development manager at Admiral Vending is to speak to potential customers, evaluate their needs and make sure any equipment we recommend fulfils their needs now but allows for any potential changes and increases in volume in the future. We would usually provide purchase and lease rental options along with service cover protection.
2. How did Admiral’s partnership with Tower Leasing come about and what motivated you to choose them as your finance partner?
Having leased equipment in previous industries and known Melissa for many years it was an easy decision to contact Tower Leasing, knowing Tower’s reputation for good customer service and competitive rates. Also, in the last few years the use of digital documents has increased drastically, Tower’s ability to use these documents not for just mainline funder deals but also a lot of broker deals makes the whole process quicker for the end user and smoother on the administration side. Deals are usually paid promptly, and any issues are handled quickly.
3. Can you speak to any notable improvements in financial performance or growth that Admiral Vending has experienced since partnering with Tower Leasing?
Firstly, it expanded market reach by offering accessible financing options, attracting a broader customer base that may not have the upfront capital for purchases. This broader reach has led to increased sales volumes and market penetration. Additionally, leasing fosters recurring revenue streams, providing financial stability and predictability that can support investment in further growth initiatives such as development, marketing campaigns, or expansion into new markets. Overall, the flexibility, financial benefits, and customer-centric approach of leasing has significantly enhanced Admiral’s growth trajectory.
4. How would you describe the process of working with Tower Leasing?
Working with Tower is incredibly straight forward, once your account has been setup you can propose any deals on the dealer portal and decisions usually come back quickly. If there is additional information required for new businesses, you are notified promptly and decisions are again turned around quickly. Invoicing and payouts are again handled efficiently, and any issues are dealt with quickly. I can thoroughly recommend Tower Leasing to suppliers looking to improve their current lease offering or to those at the beginning of offering a lease solution.
5. What would you say to other businesses thinking about offering finance options to their customers?
If you aren’t offering finance and lease options at this point your competitors certainly are and you will be missing out on sales and the repeat business that comes along with leasing. These days most companies would rather use their capital for expansion and lease essential equipment that will invariably be replaced or upgraded in a few years anyway.
6. What’s in store for Admiral Vending over the coming year?
Hopefully the year-on-year percentage growth will continue the current trajectory. We have some improvements coming to the supplies ordering process and a lot of processes are being moved to automation in the background which might not be apparent to the customer but should speed up a lot of things. The manufacturers have new machines on the way which will again be improving things for end users, customers and the dealers who supply them.
We would like to say a huge thank you to James for taking the time to share details about Admiral Vending and their experience working with Tower Leasing.
If you would like to learn more about offering leasing and finance options to your customers, please click here.
To find out more about Admiral Vending and the services and solutions they provide to businesses across the UK, please visit their website by clicking here.
