MillerKnoll Success Stories

Home
MillerKnoll Success Stories

Problem solved:

Budget constraints moving to a Class A space

Architecture firm

An architecture firm wanted to move to a new Class A space but was concerned about the financial side of things. The cost of the space was high, and they had budget constraints that limited their ability to pay for furnishings upfront. Their dealer and their MillerKnoll Financial Solutions representative understood the importance of getting the firm into this space without putting unnecessary pressure on their budget, so they got to work developing a solution that would allow them to make the move affordably.

The MillerKnoll Financial Solutions team determined that extending the firm’s furniture payments over time would take pressure off of their budget. Together, they discussed what amount and timeline would best fit the firm’s current cash flows and built a custom solution to meet those needs. The entire process was simple, and thanks to their MillerKnoll Financial Solutions team, the architecture firm was able to successfully transition to their new, fully furnished space on time and within budget.

Project size

$1.3 Million

Problem solved:

Flexible fixed-term lease

Restaurant chain

Flexibility to return furniture and fixtures to be used in a space with a fixed-term lease.

A longtime customer of a MillerKnoll dealer located in the southeast was interested in a furniture finance option that would allow the company to use and then return furniture at the end of a five year term in a leased warehouse space.

This customer had not historically leased furniture and equipment, but after learning that MillerKnoll Financial Solutions could structure a flexible 60 month term for a complete solution including MillerKnoll furniture, DIRTT interior workspaces and AV equipment, they decided it was a perfect fit.

The process was so easy and convenient that the customer has already begun discussing future projects to finance with MillerKnoll Financial Solutions

Project size

$1,760,000

Region

Southeast

Problem solved:

Budget constraints

Real estate investment firm

This is an excellent example of how financing can be used to eliminate budget restrictions. In this case, the dealer and the customer had initially arrived at a budget of $50,000. The problem was that this number did not meet all of the customer’s office furnishing needs.

The dealer got MillerKnoll Financial Solutions involved in strategizing the transaction early on in the sales process. MillerKnoll Financial Solutions worked with both the dealer and the president of the company to develop a customized financing solution that met their specific needs.

The end result was an expansion of the project scope and the elimination of the budget restrictions. The final transaction for furnishing the entire suite topped out at $111,000, representing an all-inclusive solution covering a private office, break room, reception area, multiple workstations, conference room, interview rooms and a collaboration area. Financing even covered design services.

Project size

$111,000

Region

West Coast

Problem solved:

Conserve cash

Plastics company

A customer wanted to conserve cash while moving into a new building.

The dealer rep presented a financing option proactively and the customer was interested. MillerKnoll Financial Solutions quickly reviewed and approved the customer for the requested amount based only on the customer’s name, address and phone number. With financing in place, the customer planned to place the order for an August 1st install. However, during negotiation of their new rental space, they learned they had the option to move into a suite with more square footage. This gave them a lot to consider: extra space would be put to good use, but what about all of the furniture needed to fill it? Could they afford it?

Since the customer was already looking to finance the furniture, they simply added the new furniture to their agreement and their monthly payment was adjusted accordingly. The customer was also very pleased that the deposit was paid by MillerKnoll Financial Solutions on their behalf and that they did not need to write a check.

It was a very simple process from start to finish and the financing solution allowed them to take advantage of additional space with minimal impact to their budget.

Project size

$117,500

Region

Midwest

Problem solved:

Stalled opportunity

IT solutions provider

This story starts with a $48,000 proposal that had been stalled for a while. After a promising start, the owners of the company would not commit to the order and eventually became unresponsive. Thinking that it might be a cash flow problem, the representative contacted the customer and offered a financing option. The suggestion got their attention and got the deal back on track. The transaction was configured so that MillerKnoll Financial Solutions took care of the 50% down payment, which provided the incentive for the customer’s management team to place the order using a very favorable payment structure. The transaction might have ultimately happened regardless, but there is no question that financing provided by MillerKnoll Financial Solutions helped to move the stalled opportunity along.

Project size

48,000

Region

Mid-Atlantic

Problem solved:

Add-on to previous project

Healthcare

The customer is a developmental phase company and therefore pursued MillerKnoll Financial Solutions in order to preserve their capital to grow the business. They were able to purchase MillerKnoll as opposed to other less expensive alternatives because the dealer proposed the solution with a financing option. The total amount sold and financed to the customer was over $80,000.

Project size

$42,000

Region

Northeast

Problem solved:

Selling against 0% manufacturer financing

Engineering firm

Competing against 0% financing availability is difficult enough in the early phase of a sale. Changing a customer’s mind when they’re about to sign another manufacturer’s 0% financing offer is a long shot, at best. But with the right financing representative at your side, long shots turn into lost sales for your competition.

Here’s an example from a MillerKnoll dealer pursuing a local engineering firm that was very close to signing a deal built on a Steelcase 0% financing offer. Poor odds, but a quick call to MillerKnoll Financial Solutions turned the tables in the MillerKnoll dealer’s favor.

First, MillerKnoll Financial Solutions quickly pre-approved the engineering firm. Then, following a warm introduction to the customer from the dealer representative, our representative requested a copy of Steelcase’s proposal. The representative analyzed the proposal and pointed out several weaknesses, including the fact that the offer was strictly limited to Steelcase products and that three payments were due in advance. The representative also noticed a $375 documentation fee, as well as a warning that rates would be subject to change – a good bet in the current economic environment.

Having been made aware of all of the downsides of a seemingly unbeatable offer, the customer reconsidered, ultimately choosing MillerKnoll furniture and a MillerKnoll Financial Solutions offer that provided similar benefits without the drawbacks of Steelcase financing. Thanks to the insight and advice of our representative,the MillerKnoll dealer was able to make a profitable sale that almost certainly would have been lost otherwise.

Project size

$106,000

Region

Northeast

Problem solved:

Multiple locations

Banking

This project was originally limited to office furniture with a corresponding budget of $1.5 million. However, when it became clear that MillerKnoll Financial Solutions financing could be applied to other elements besides furniture, the entire technology infrastructure was added as well. This increased the size of the deal by an additional $1.5 million, to a total of $3 million.

The customer wanted to keep their cash flow positive and realized that financing was a fantastic way to achieve that. At the end of the day, they acquired the furniture and IT equipment and received the financial structure they desired.

Project size

$3 Million

Region

Northeast

Problem solved:

Customer budget constraints

Athletic apparel company

The dealer was primarily competing against Knoll and the customer ultimately based their decision on the best combination of products and financing. Although the company was an existing MillerKnoll customer, financing had not been a factor in previous projects. Phase one was completed at the end of 2014 and phase two by June of 2015. The total project was $2.25 million, which is all MillerKnoll, but they also plan to add other equipment in the future.

Project size

$2.25 Million (All MillerKnoll)
Phase One: $250,000
Phase Two: $2 Million

Region

Southeast

Our Certifications

WE DESIGN WORKSPACES THAT AFFECT PEOPLE LIVES

At Space Continuum, we’re not just a commercial furniture dealer. We offer our clients a superior customer experience. We provide solutions based on the needs of our clients. Drawing on our ability to listen, learn, and build client relationships, we help our clients articulate and execute their visionary plans for the future.

Contact Us

Request a Call Back

Our team is ready to help! Request a call to design a functional, stylish, and efficient workspace.

Featured In

Become a Client

Email Us

Call Us