ETG (Energy Technology Group) Finance Limited is a main supplier of financial services and solutions to engineering firms looking to purchase new and used machinery. They recently announced a strategic partnership with UK-based 3D printing bureau Hawk 3D Proto, a division of Cutwel Limited.
Why you ask? Well, to offer Hawk 3D Proto clients financial assistance, if they choose to purchase 3D printers from the Hawk 3D Proto supply. In other words, ETG is trying to help business clients of Hawk 3D Proto buy a 3D printer without emptying their cash coffers.
Hawk 3D Proto is a division of Cutwel Limited, a successful cutting tool supplier founded in 1996. In May 2013, CEO & Founder of the organization Ben Hawksworth and his dad, Paul Hawksworth, Managing Director of Cutwel, decided to create a 3D printing company whose main purpose is reselling 3D printers and 3D printing supplies. If you go to their site, you can see that Hawk 3D Proto supplies a range of desktop 3D Printers, including Airwolf 3D and BEEVERYCREATIVE printers. They are also a certified reseller of the Stratasys Idea Series 3D printers.
Even desktop 3D printers are no small investment, hence the partnership with ETG. According to Ben Hawksworth, CEO: “We want everyone to get into the 3D Printing world and not to let finances restrict them from enjoying it. With the help of the great partnership we have with ETG Finance we can work together to get you one of our fantastic 3D Printers for you and your business.”
Now, let’s look a little closer. What I see is a company that partnered up with a financial institution in order to help others get a 3D printer from Hawk 3D Proto. People who do this will certainly pay interest on their loan, but at least they will have 3D printer. Personally, I wouldn’t ever do this in a million years, but, then again, I don’t have a viable business idea that would require purchasing a 3D printer to launch. I suppose it’s possible that this could help get 3D printers into the hands of people who don’t have the cash to buy them. I just wonder if that is really necessary?
If you’ve decided to be a 3D printing reseller like Hawk 3D Proto, this may be a method of altering the initial price it takes for an individual or business to get their hands on a 3D printer who might be able to pay it off over time, but not all at once upfront. Though a customer will actually end up paying more than the 3D printer was being sold for in the first place because of interest, they may be able to overcome the expensive initial price. Who knows, maybe they could eventually make the 3D printer pay for itself, with a viable idea?
If you have a viable business, and your cash is really tied up, you don’t have to consider a 3D printer out of reach. But it’s worth remembering: over time, you will end up paying more than the initial value. Impulse buying is the fuel of turbo-consumerism.