duet group The Duet leasing and maintenance service

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1 The Duet leasing and maintenance service A new way to source and manage musical instruments more cost-effectively and reliably than purchasing. And an opportunity to acquire best-of-breed brands without large capital investment. duet group

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3 The Duet message We provide musical instruments, equipment and services that Protect clients from purchasing costs Ensure instruments are always operating to the highest artistic standards Encourage and reward students in practice and performance Solve the timing problem of today s needs vs available budget Make best-of-breed Instruments affordable, accessible and available Empower the education professional to focus on teaching and creativity Ultimately, guarantee future sustainability. 3

4 The Duet expertise Our service is based on symphonic principles, each element entirely dependent on the other. We re experts in financing just as Beethoven was an expert in melody. We re experts in maintenance just as Beethoven was an expert in harmony. We re experts in management just as Beethoven was an expert in rhythm. 4

5 The Duet expertise Our service is based on symphonic principles, each element entirely dependent on the other. Just as a symphony is the interdependent product of melody, harmony and rhythm, so Duet s service is the inter-dependent product of financing, maintenance and management. Duet partner clients enjoy the thrill and unforgettable experience of collaborating in massive public concerts in London s Royal Festival Hall. 5

6 Components of expertise Financing Cost-effective purchasing of instruments and equipment. Artistic vs economic valuations so client only pays for musical qualities. Flexible, bespoke leasing systems that fit inside pre-existing client budgets. Maintenance Regular tuning and planned preventative maintenance. Annual structured servicing. Remedial works and repairs. Management Procurement at best price. Disposals to realise maximum asset values. Renewals to ensure client stocks are always good as new. 6

7 Duet means a partnership in bespoke consultation No two schools, colleges, or departments are ever the same The composition of each instrument fleet differs from every other Client value-added needs differ The best results and the most beneficial outcomes are always the product of careful consultation. Duet Foundation supports young musicians through scholarships, help with instrument purchase, tuition and sponsorship of concerts and recitals. 8 7

8 The typical model This graph shows a small fleet of four beige pianos each replaced with a new blue piano at a frequency of one replacement per annum. Supplier inflation shows increase in capital expenditure whilst diminishing instrument quality shows increased maintenance spend. So when piano no.4 is being replaced, the earlier replacement for piano no.1, several years before, attracts increasingly higher maintenance expenditure. 8

9 The Duet model This graph shows all four beige pianos being replaced in one event. The new blue pianos are serviced and maintained regularly, thus diminishing wear and tear and, by so doing, increasing the artistic life and stability of the instruments. Leasing and servicing costs are fixed, offering predictability for budget holders. 9

10 So how much does it actually cost? A typical school of 900 students To Purchase Duet Lease 1 x Steinway Model D concert piano 2 x Steinway Model B teaching pianos 4 x Yamaha C3X practice and teaching pianos 6 x Yamaha U1 upright practice pianos Annual servicing 3 x tunings per piano per annum 350,000 23,900 per annum A smaller school of 300 students 1 x Steinway Model B concert piano 2 x Yamaha C3X teaching pianos 5 x Yamaha U1 upright practice pianos Annual servicing 3 x tunings per piano per annum 130,000 8,700 per annum 10

11 The most popular instruments leased by schools and universities Pianos Timpani Cor anglais Bass clarinets Double bassoons Double basses Piccolo trumpets Rock drum kits Electric guitars and basses Classroom percussion Classroom keyboards Organs Harpsichords French horns Staging Raked seating Amadeus soundproof rooms Digital recording equipment 11

12 So, what does working with Duet entail? Firstly we meet with the head of music, often with a head of keyboards present. Here we discuss the objectives of the client s requirements: repertoire, ABRSM standards, brand preference, list of existing stocks. Often this is followed soon after by a short technical presentation to finance managers to illustrate the contractual issues of any future management lease. continued Duet Foundation supports young musicians through scholarships, help with instrument purchase, tuition and sponsorship of concerts and recitals. 12

13 A detailed audit of stocks is carried out to ascertain quality and identify instruments needing retirement, potential refurbishments, possible re-locations and the value, per instrument, of the fleet. At Duet s offices we develop a set of models each with a corresponding proposal which includes brand and model types, refurbishment opportunities, disposal/retirement recommendations, and recommended replacement brands and models. Clients are encouraged to discuss our models and proposals with all stakeholders. Then a draft leasing agreement and maintenance schedule are advanced to the head of music and finance manager. Duet usually delivers new stocks and refurbishes old stocks within three months of the lease documentation being approved by the client. The Main reason we want to work with Duet is that we have found an organisation that understands music making, musicians and the resources required to inspire creativity. When it comes to Duet, you re not speaking to a bank, finance company, or manufacturer: you re speaking to a music services company that shares musicians values at a profound level. Prof. John Wallace Principal, Royal Conservatoire of Scotland At the Royal Northern College of Music we believe and invest in the energy between students, artists, and audiences and we provide a rich variety of courses which train musicians to a professional level. Our partnership with Duet is entirely in tune with our mission. Duet provides world-class musical instruments for our teachers and students whilst delivering the highest level of integrated servicing and maintenance. Prof. Jonty Stockdale Principal, RNCM 13

14 The people who agree with Duet Ashford School Harrow School King Edward VI School, Warwickshire Oakham School Oundle School Reigate School Royal Conservatoire of Scotland Royal Hospital School Royal Northern College of Music St Hilda s College, Oxford St John s College, Cambridge St Joseph s College, Ipswich Skipton High School Tiffin College University College Falmouth University of London University of Southampton Wellington College Whitgift School 14

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16 We d love to form a Duet with you Above all, Duet is about delivering the best results from the outset and dynamically every day thereafter. Visibly when you need it, invisibly when you don t. Bank House, Bank Street, Ashford, Kent TN23 1BX Telephone Fax duet group