Ideas?….any of you?
I have been reprimanded by my team recently for writing about really depressing subjects. Let’s face it folks, the decline of manufacturing and the process of closing businesses, which is what I do for a living, can be VERY depressing. I also help companies to buy ongoing businesses. So here’s an inspiring story from the other side of my business. So many times we all hear people say that they can’t start their own business because they don’t have the capital or the machinery or the…..whatever.
Here is proof that all you need is some great ideas and determination.
The client that I’m writing about has only been in this country for about 15 years. He spoke almost no English and came to the US on a work visa for a well known international company. Shortly thereafter he was recruited to help start the US division of another well known company. Although he worked for others, he fed his entrepreneurial spirit by designing new products or improving products that were already widely in use. He developed a product that he believed to be better than anything on the market in its category. Although he knew he could sell this product in the marketplace, he did not want to go through the expense or the time to start an entire production facility.
For most people the story would end there. Not in this case. My client “borrowed” someone else’s facility. He found a manufacturer that was struggling financially. After having the manufacturer sign non-compete and non-disclosure documents, they were off to the races! My client found a way to use other people’s assets to build an entire business. Shortly down the road production needed to dramatically increase to keep up with sales orders. That’s where we came in. We marketed his company to get a 50% production partner. He needed someone who could keep pace with his sales ability. He is under contract to sell half the company for a 2.1 million valuation. The new partnership will permit him to become the largest manufacturer in the US in this category.
This all happened in a few short years with very little assets, great ideas, some street smarts and a boat load of determination.
Absolutely incredible and totally inspiring! So all you guys with machine tools, what are you waiting for?
All you need are ideas; everything else can be borrowed or outsourced to people who will be grateful to get the work.
Let your imagination fly. And….if you build it, I will be more than happy to sell it!
About the author:
Fran Brunelle is an industrial auctioneer with almost 20 years experience, a manufacturing business broker, licensed real estate broker specializing in industrial properties, a real estate auctioneer, certified appraiser and author. Fran has established several corporations that provide services to the manufacturing industry. The “Accelerated Group of Companies” provides tools and services to help manufacturers grow and exit strategies to maximize dollars when they are ready to retire or sell their manufacturing business. The group of companies that Fran Brunelle has established includes:
www.AcceleratedBuySell.com – Provides Online Industrial Auction Services, Used Equipment Auctions, Capital Equipment Auctions, Plant Liquidations, Industrial Plant Cleanout Services, Used Machinery Location Services, Certified Machine Tool and Equipment Appraisals, and more.
www.AcceleratedMfgBrokers.com – Specializes in Manufacturing Business Brokerage and Mergers and Acquisitions. We help manufacturers develop exit strategies to maximize retirement dollars, and successful manufacturers expand through acquisition of other manufacturing companies, product lines and customer lists. Manufacturing Companies for sale throughout the United States are listed on this site.
www.AcceleratedRE.com – Provides Industrial Real Estate Brokerage Services, Online Real Estate Auctions, Sealed Bid Real Estate Auctions and complete industrial facility cleanout services.
www.IgniteMfg.com – Provides funding for products made in the USA, and engineering/manufacturing educational needs through Crowd Funding.
www.MfgWebSolutions.com – Provides web development and social media services for manufacturers at under-market rates.
Fran Brunelle is a contributing author to:
blog.AcceleratedBuySell.com - A site that provides the latest manufacturing news, statistics and opinion. It also provides information on how to grow a manufacturing business, and what to do if you are a manufacturing company that needs to close.
MFGWebSolutions.com/blog - Provides the latest information on social media and web development for manufacturers. It gives manufacturers tips and tricks for boosting their web presence.