Issue link: https://www.e-digitaleditions.com/i/92325
exactly the kind of collateral they want." "Tiger by the tail" is how he likes to describe the early years—when every- thing earned was used to pay back the bank and buy another round of new machines with 30 more months of financing. "It was tough, " says Lewis. "There was no free money because we had to keep putting capital in it to grow the business. " Dismantling the Infrastructure There are two types of customers that typically lease. One can't afford to write a $3,000 check for a new machine and the other likes the convenience of hav- ing someone else maintain it. Ninety- five percent of Mission's leases are full- service, an upgrade that includes installation, preventative maintenance checks/cleanings, and free ice if a machine breaks. "From time to time we accommodate a customer that requests traditional financing, but we always offer the leasing option first because we feel it's the best use of our capital, " says Lewis about his bias. "Our goal is to have some- thing that we own and can continue to get a return on long after it's paid for. And the key to longevity is service— " a monstrosity of sorts that gobbles up a tremendous number of resources to keep Mission's leasing program per- forming at an optimal level. "To be suc- cessful in running a full-service leasing program, you've got to be able to serv- ice the machines yourself, " says Lewis. "You have to buy trucks, you've got to have knowledgeable and certified serv- ice technicians, and you must have the parts on hand when they're needed. Companywide there are 25 service " trucks, a preventative maintenance crew of eight, and five licensed service techs trained to pull permits and do installs, repairs, and repos when neces- sary (although Lewis stresses that very few customers in Mission's portfolio fall through the cracks). Each of the com- pany's four locations, Austin, Corpus Christi, McAllen and San Antonio, has dedicated dispatch and service depart- ments and a sophisticated computer system that keeps track of everything Check out our family! HOSE REELS T&S hose reels keep the family's rugged reputation squeaky clean with reinforced hoses, heavy gauge steel housings, and precision fittings. ELECTRONIC FAUCETS Look, ma — no hands! This offspring saves water with hands-free sensor operation and long battery life. SAFE-T-LINK and POSI-SET™ They go the extra mile to keep the family warm, stable and safe. Safe-T-Link features a patented swivel connector and reinforced hydroformed steel braid; Posi-Set makes sure cooking equipment stays in the proper place and helps meet NFPA regulations. And the branches of our family tree stretch much wider — T&S Brass has a full family of products for foodservice applications that help save water and energy, improve the safety of your kitchen, and are more reliable. And, in the end, you save money in total life cycle costs. Visit www.tsbrass.com today to learn more. MINI PRE-RINSE UNIT This little guy has the family genes of superior water conservation and cleaning power, but fits in a smaller space. Available with a wide range of options. from monthly billing and receivables to scheduled PM's and detailed notations. "There's a spec on the type of water fil- ter required for each machine so serv- ice techs show up with the right replacement cartridge and right tools to do the PM, " says Lewis. "Every detail has to be noted and every piece of equip- ment has to be tracked. You've got to know how old it is; or if it needs to be repaired or replaced because they depreciate. Once you really grow the business, there's a lot of infrastructure that goes into maintaining it. " Next to its capital-intensive nature, that's one of the drawbacks he sees to committing to the leasing business. The other is preventative maintenance, something that can easily spiral into an overwhelming swarm of unhappy cus- tomers once PM's become a lesser pri- ority. "We've made that mistake, " admits Lewis. "You get busy and the first thing that slips is preventative maintenance because you don't have the customer calling you to clean their machine. You continued on page 62 1.800.476.4103 . www.tsbrass.com . twitter: @TSBrass . www.facebook.com/TSBrass !"#$%&'()*+,'-.'#'/01-2+,..'''3 November/December 201 2 61 4536536'''7894'-: