Hiring an outside sales representative can be a powerful addition to your operation’s sales. Discover how A&E Paint Centers in Florida manages a team of outside sales representatives to strengthen their business.
Seal the Deal
Unmasking Greatness
When customers have the right tape and masking products, they can put pristine final touches on their paint projects. Learn more about the latest advances that are helping pros and DIYers stay on the level and paint between the lines.
PAINT & DECORATING RETAILER
(ISSN 1096-6927): Published monthly except December by the Paint and Decorating Retailers Association, 1401 Triad Center Drive, St. Peters, Missouri, 63376-7353. Phone: 800-737-0107.
Primers and sealants help painters excel with flying colors. Get information on how manufacturers are making the most of new product trends and how the right primers and sealants can add a beautiful decorative touch to every project.
Old Masters, New Paths
Learn about Old Masters, which has been serving the industry for nearly 70 years. Read how the company has adapted with the times to introduce new products and help retailers connect with customers decade after decade.
Istill remember the conversations with one of my early mentors. He had a lot of “sayings” that he would use during teaching moments. One of these aphorisms that stuck with me through the years would often arise when we were discussing the value of a project or plan.
We might be talking about budgets or details, and he would often state, “That’s the wrong place to save a nickel.” Of course, the idea being that there are some things you don’t want to scrimp on because the value of the savings may not offset the return on the investment.
Hire good people, give them the tools they need to do their jobs, push them and compensate them well .
In this issue of Paint & Decorating Retailer, we take a look at an area of your business where I think the sentiment behind this statement applies— your outside sales force.
When it comes to hiring, compensating and retaining individuals for an outside sales team, it is important to remember the highly important tasks these individuals will be entrusted with.
Not only are they asked to find new business, drive revenue and boost gross margin, but most importantly, they are also the tip of the spear when it comes to reaching out into your communities and representing your company and brand.
I have talked with many successful retailers who have assembled high-functioning sales teams and their advice is always the same— hire good people, give them the tools they need to do their jobs, push them and compensate them well.
More than one successful retailer has told me that they want their outside sales team to be among the most highly valued (and compensated) members of their organization because they are so vitally important to a company’s overall success.
Given how valuable these key team members can be, I’d recommend you take a look at our article beginning on Page 32, and if you’re on the fence about where to invest in growth for your business, skimping on a top-notch sales team is likely the wrong place to save a nickel.
Benjamin Moore Kelowna Kelowna, B.C., Canada Jay Donnelly
Flanagan Paint & Supply
St. Louis, Missouri
Lesley Davies-Baptista Paint Fair Ltd.
Freeport, Grand Bahama, Bahamas
PDRA ADVISORY COMMITTEE
Dori Marks, PPG Industries
Thomas Hill, The Coatings Alliance
Eugene Andreassi, Benjamin Moore
Joe Jankoski, Hunter Douglas
Bob Clemence, Hyde Tools
John Shingledecker, Allpro Corp.
Richard Russo, Reed Exhibitions
Mike Dube, Lancaster
The Big Picture
Brush With Greatness
Since November, the U.S. Space & Rocket Center in Huntsville, Alabama, has hosted a 300-pound crane, not as a museum piece, but as a tool to be used for the restoration of the monumental Saturn V rocket replica.
“Painting a 363-foot-tall rocket takes a whole lot to make happen,” says Pat Ammons, director of communications for the center. “The crane was a very effective solution, much more economical than scaffolding.”
Using the crane, painters started at the top of the rocket and worked down, completing a three-step process: pressure-wash, seal and paint. By March, they had neared the bottom ahead of schedule, thanks in part to PPG’s Colorful Communities™ program, a charity created by PPG to give spaces in need a fresh coat of paint.
In April, members of the PPG team helped add the final touches to the Saturn V replica.
Colors for a Cause
Benjamin Moore Rolls Out Hand-Painted Wallpaper Collection
Benjamin Moore is best known for its paint and coating options available through independent retailers.
Now that the manufacturer has partnered with a nonprofit organization, retailers might start looking to the coatings manufacturer for other wallcovering options.
In conjunction with The Alpha Workshops, a nonprofit providing decorative arts education and employment to adults and youth with disabilities and other vulnerabilities, Benjamin Moore is unveiling a new wallpaper line. The collection will use Benjamin Moore paints from the CENTURY®, Aura® and Studio Finishes® lines.
“The Alpha Workshops has always used Benjamin Moore as our preferred paint since we first introduced our signature wallpaper offerings in 2001,” says Ken Wampler, founder and executive director of The Alpha Workshops. “This ultra-premium collection enhances our long-standing partnership and exudes the highest level of quality while coating walls in an artful, new way.”
The Benjamin Moore and The Alpha Workshops Capsule Collection contains five patterns realized in three colorways. In Kimono, paints take the form of a radiant graphic floral, imprinted atop a matte background.
In Newport, they form delicate grids, stamped on the paper in layers to create a geometric pattern. In Topography, paints are loaded onto a stamp and applied in thick, glossy layers for a marble effect. In Spencer and Horizon, paints are brushed on in light strokes to textured paper that has been folded like origami. For most of the patterns, it takes a full day to create a single roll.
“The collection speaks to the basic color groups of primaries and neutrals, but all with a layer of glamour,” says Ellen O’Neill, Benjamin Moore director of strategic design intelligence. “Benjamin Moore premium products coupled with the care and precision by Alpha’s team, create captivating prints in a palette that can be easily mixed and matched.”
The Benjamin Moore and The Alpha Workshops Capsule Collection will be available to order at select Benjamin Moore retailers throughout North America and internationally, as well as at alphaworkshops.org All wallpapers are made-to-order and cost $125 per yard. Customers can also add their own color scheme to further customize their orders.
For more information, visit benjaminmoore.com
PAINTS MEDIUMS
Product News
Drywall Adhesive
Drywall Advanced is a specially formulated adhesive for interior drywall construction. The product resists shrinkage and reduces nail pops by up to 90 percent when compared to traditional latex-based drywall adhesives when finished after 24 hours. It reduces fastener use up to 50 percent, grabs fast, bonds strong and buffers sound. It is certified by UL Environment to meet the GREENGUARD Gold Standard as a low-VOC material.
PPG Industries
800-634-0015 or liquidnails.com
Brush and Roller Cover
The Paint Poncho® covers a brush or roller securely in EVA plastic to allow for breaks in painting without requiring full cleanup. An elastic pull cord and spring lock allow the bag to be secured around a variety of painting tools, and each bag can be reused on the same project, washed and saved for later or discarded. Paint Poncho comes in brush and roller configurations.
Paint Poncho paintponcho.com
Dinosaur Wallpaper
The D’ya-think-e-saurus line of wallpaper was manufacturer Paperboy Interiors’ first wallpaper design, sketched as a gift for young dinosaur-loving twins. The design is now available in new colors: Confetti, Warm Gray and Bone China Blue. Confetti has a pink hue, Warm Gray brings a neutral tone and Bone China Blue offers a cool tone. The inks used are nontoxic and sustainable.
Paperboy Interiors victoria@paperboywallpaper.co.uk or paperboywallpaper.co.uk
Wood Sealant
SEAL-ONCE® NANO+POLY™ penetrates a wood surface to create a flexible barrier by coating the wood fibers at the cellular level, while forming a breathable surface that allows the wood to expand and contract and for water vapor to escape. The formula can be applied to wet or damp surfaces, saving time and labor for contractors and end users. It also features enhanced UV and abrasion protection, extending the natural life of wood.
U-C Coatings
716-833-9366 or seal-once.com
Industry News
Chemical Concerns
EPA Issues New Ruling on Harmful Paint Stripper Chemical
The Environmental Protection Agency has issued a new ruling concerning products that contain methylene chloride, a chemical commonly found in paint strippers, The New York Times reports.
Andrew Wheeler, administrator for the EPA, signed a ruling that “prohibits the manufacture and use of consumer products containing methylene chloride, but did not ban it for commercial use,” according to the article.
Previously, legislators have attempted to ban the chemical for DIYers and professionals entirely.
For retailers, the effects of the ruling have many implications. Stores will have 180 days to stop selling
products containing methylene chloride. After that period, violators will face fines or possible imprisonment, according to the article.
Since the ruling was announced, more than a dozen retailers have announced they’ve removed or plan to remove products containing the chemical from their shelves before the 180 days are finished.
“Families have lost loved ones in tragic and heartbreaking circumstances,” says Alexandra Dunn, the EPA assistant administrator for chemical safety. “We answered the call for many affected families to ensure that no other family experience the death of someone close to them from this chemical.”
Industry Calendar
Allway Tools Remembers Former President
In February, former Allway Tools president Howard Soled passed away. The company remembers him as a pivotal member of its management team and an inspiring figure in the home improvement and decorating industry.
Soled joined Allway Tools in 1979 as the company’s vice president of marketing. He assumed the role of president in the early 1990s.
In his time with the company, Allway Tools was able to solidify its position as an innovator of great tools for painting, decorating and home improvement. Under his oversight, Allway Tools broke new ground with abrasives, wire brushes, safety knives and ergonomic tools with soft-grip handles.
Before joining Allway Tools, Soled refined his leadership skills by heading up Stencil Specialty Co. in Jersey City, New Jersey, a company that was founded by his father in 1919. Soled joined the U.S. Army at the beginning of the Korean War, where he served in the helicopter group and created a safety procedure still used today.
He is survived by his wife Irma, their four children, six grandchildren and three great-grandchildren.
LINDAR Launches PAINTWELL Products
LINDAR Corp., a plastic company based in Baxter, Minnesota, has released its line of PAINTWELL products, which includes a variety of paint trays and liners designed to serve DIYers and professionals.
“The PAINTWELL difference is the innovative, thermoformed design,” says Dave Fosse, director of marketing at LINDAR. “With PAINTWELL trays and liners used together, the paint is evenly distributed over the roller on the tray’s ramp surface, creating better paint coverage and, in the end, saved time.”
The new liners come in 9 ½-inch and 18-inch models, and are made from solvent-resistant recycled RPET material. Both trays feature a drip guard to reduce spills, and the liners’ design enables them to fit to nearly every paint tray currently available.
LINDAR was formed in 1993 and has since grown to become a leader in plastic thermoforming of paint products, food packaging and commercial products for an array of industries.
MAY 18-20
Do it Best 2019 Spring Market Indiana Convention Center Indianapolis doitbestcorp.com/market
JUNE 11-13
NRF Protect Anaheim Convention Center Anaheim, California nrfprotect.nrf.com
AUGUST 13-15
Independent Home Improvement Show Powered by NHS Lakeside | McCormick Chicago nationalhardwareshow.com/ihis
AUGUST 22-24
Orgill Fall Dealer Market McCormick Place Chicago orgill.com
SEPTEMBER 6-8
Ace Hardware Fall Convention Georgia World Congress Center Atlanta acehardware.com
SEPTEMBER 7-8
PACOA Fall Dealer Market Fitzgerald Gymnasium, Queens College Flushing, New York pacoa.com/events
NOVEMBER 6-8
Home Improvement eRetailer Summit Kimpton Hotel Monaco Chicago Chicago eretailersummit.com
If you would like your event included in this list, email Melanie Moul at mmoul@nrha.org with the date, location and a brief overview of your event.
Gordon Brush Acquires Paint Applicator Manufacturer
Replacing old caulk has never been easier.
ordon Brush Mfg. Co. has acquired Spectrum Paint Applicator Corp., an industrial consumer paintbrush, roller artist brush manufacturer.
Gordon Brush plans to relocate Spectrum’s manufacturing and operations initiatives at its 183,000-square-foot facility in of Industry, California.
Founded in 1945, Spectrum Brush has focused on producing an array of pro and DIY brushes.
Arthur Edelson, Spectrum’s CEO, says the deal opens a new chapter for both companies.
“It’s time for us to step aside so company can continue to grow,” Edelson says. “We felt Gordon Brush the best fit to take Spectrum Brush the next level, to continue our tradition of individualized customer service and to best continue manufacturing our American-made consumer, professional and industrial paint applicators.”
Ken Rakusin, president and CEO of Gordon Brush, says his company’s latest acquisition broadens its market reach and product offering.
“The acquisition of Spectrum Brush, our 12th acquisition, consolidates Gordon Brush’s reach in the paintbrush category. Spectrum Brush will add to our stable of other acquired paint and artist brush companies,” he says.
Rakusin believes the deal brings new opportunities to the company.
“[The acquisition] dramatically enhances our scale, product offerings and geographic reach—creating new synergies that better position us for future growth and investment in new and existing markets,” he says.
Sharp point digs out caulk from crevices.
Sharp high-impact blades shave old caulk clean from tile or windows.
Tube cutter helps slice open replacement caulk tube.
Padded end smooths new caulk bead for consistent profile.
Longtime Sunnyside Employee Retires After Historic Career
Sunnyside Corp., a paint thinner, solvent and paint removal company, is bidding farewell to Mel Sass, a longtime employee who has announced his retirement.
“Mel has been a tremendous employee, a strong customer advocate and a great friend,” says Chris Pearson, chief operating officer of Sunnyside.
Pearson says in the past, Sass served as the ALLPRO account manager, overseeing purchases for the large independent paint and sundries distributor.
Sass has more than 40 years of experience working in the paint and home improvement industries, Pearson says.
In 2019, Sass marked his 12th anniversary with Sunnyside, a career Pearson says was filled with professional achievements and personal highlights.
Sunnyside has more than 125 years of experience in the industry.
These days, it specializes in carrying a full line of paint thinners, solvents, paint removers, cleaning products, mildew treatments and paint additives.
The company’s products fall under several brand names, like ProSolutions, Green Envy, Back to Nature, M-1 and 2-Minute Remover.
Sunnyside was originally founded as a kerosene and oil distribution company in 1893, and through the years, has become a cleaning products, paint additives and solvents specialist.
Founded in Chicago, Sunnyside now operates from its headquarters in Wheeling, Illinois.
• Revives old leather and helps protect new leather
• Reduces scratches and helps preserve leather
• Rejuvenates leather surfaces
• Protects leather from future decay
• Restores dry leather back to its soft, natural condition
• Prolongs the life of leather furniture, purses, boots, bags, hats, shoes, gloves, apparel, autos, tack, and saddles
• Safe to use on all types and colors of smooth leather
• No artificial dyes or chemicals
• A little goes a long way
• Made in the USA
By Jerry Rabushka
Unmasking a New World
Stop Getting Stuck on How to Sell Painter’s Tape
Painter’s tape has undergone a transformation in the paint industry, moving from just a few options to several versions of specialized and high-performance products. Success on one substrate leads manufacturers to work toward the conquest of yet more surfaces with tape that pros and homeowners can trust more than ever before. Now, with so many varieties and price points, how do you stock and arrange it, and how do you help your customer pick the right one?
Colorful Commodities
As tapes have evolved and developed new features, many customers have learned what to look for depending on their project and their priorities. But there are some questions some customers may not know to ask. Does the paint they’re using require a certain kind of tape? Will the tape release cleanly from the surface after the paint dries?
These priorities and questions can change based on a number of factors, including whether the paint is intended for a DIY project or a professional job.
“The trend to more specialized tapes has impacted purchasing in a positive way,” says JoMarie Pagano, consumer marketing specialist at Intertape Polymer Group Inc. “A lot of what is being launched incorporates new and improved technology for better paint lines, clean removability and more.”
Tapes are also becoming more environmentally friendly, with some specialty tapes touting low VOC and other green factors.
“Consumers need a specialty tape to work well with these new conditions . They want the best available and are willing to try new and improved products .”
—JoMarie Pagano, Intertape Polymer Group Inc.
Mainly though, tape wants to keep up with paint. “Changes in paint technology are leading to changes in tape technology,” Pagano says. “Consumers need a specialty tape to work well with these new conditions. They want the best available and are willing to try new and improved products.”
Tape companies are looking for underserved segments of the market to introduce new ideas and features. IPG is paying attention to tan painters tape.
“We’re developing a new five-day contractor tan that will be the perfect combo of price point and quality performance,” says Pagano. “We listened to our customers and uncovered a gap in products and price point. We are excited to bring this product to market.”
Blue Dolphin™ Sundries has two new entries: a seven-day general purpose masking tape and a specialty product called Poly Seaming Tape, both developed mainly in response to contractor demand.
“Contractors wanted a tape that would hold up heavy plastic and also remove cleanly from painted substrates,” says Blue Dolphin president Roland Kolilias. “It has a dual function adhesive that holds firmly to plastic and allows for a 14-day clean removal from walls and trim.”
The general-purpose masking tape, he adds, provides an economical tape with seven-day clean removal.
FrogTape®, known for its green-colored Multi-Surface Painters Tape and yellow Delicate Surface Painters Tape, is leaping into blue tape to provide pro painters the company’s patented PaintBlock® technology at a contractor-friendly price.
“New FrogTape Pro Grade Painter’s Tape balances high value with high performance and offers an alternative to standard blue tape,” says Patti LaPorte, senior FrogTape brand product manager. Painters get their sharp lines FrogTape is known for at a price geared toward pro painters. This product is available exclusively in contractor multipacks—a new packaging concept for this brand.
Providing easily accessible tape options to consumers is a priority for FrogTape, LaPorte says.
“PaintBlock Technology is a super-absorbent polymer that reacts with the water in latex paint and instantly gels to form a microbarrier. This barrier seals the edges of the tape, preventing paint bleed and creating clean, sharp lines,” she says.
Nicola Rushin, marketing manager at Trimaco, notes that her company meets the needs of pro painters with products that address their desire for speed, yet allow them to achieve top quality results. Trimaco’s Easy Mask® range of tapes takes advantage of advances in adhesion, release, UV protection, flat tapes and straight lines, she says. This helps contractors work faster and more accurately.
Specialty tapes can be used for more than just preventative measures. They can also help create new designs or customize a paint job.
Handcrafted Brushes
Composed of CHYLYN™ filaments, the ORO Brush is the perfect compliment for all Latex or Oil/Alkyd Paints and Stains.
Superior Taper
Advanced Flagging
Exceptional Quality Holds & Delivers More!
TRADITIONAL Filaments CHYLYN
Superior Roller Covers
Today’s paints demand more from today’s applicators and the lintless Glossdel Plus delivers like no other cover.
Supreme Woven Fibers
Solvent Resistant Core
Exceptional Pick-up and Release
“All of these features are an important focus of ours—painters can rely on Trimaco’s Easy Mask® KleenEdge® Painting Tapes for good application and release, no bleed-through and clean lines,” says Rushin. “Along with wanting to mask an area off as quickly as possible, painters look for products that give them reassurance that they won’t have to spend time on large touch-ups at the end of a job or fixing messes left behind by a lower-quality product.”
The Easy Mask KleenEdge tapes allow a clean release up to 14 days, leaving no residue left over after a job. Products in the line include KleenEdge Perfect Edge™ Painting Tape, for use on a variety of surfaces, and KleenEdge Low Tack™ Painting Tape, designed for delicate surfaces. Both can be used with Trimaco’s Easy Mask masking films, masking plastic, masking papers and maskers.
A Tape for Every Job
Specialty painters tapes are special for a reason. With specific formulations designed to hold up to different paints and leave delicate surfaces unmarred after use, they can save professional
painters and DIYers a wealth of pain and money. However, customers will never know that if retailers aren’t prepared to knowledgeably sell these products.
“Retailers are missing the boat on specialty tapes,” says Kolilias at Blue Dolphin. “They need to market interior and exterior specialty tapes to the contractor. Many painters are not aware of newer exterior products so they revert to the old ways and use duct or stucco tapes which leave residue and require more clean up time.”
Blue Dolphin has literature to help everyone get on board, which is especially helpful for DIYers who haven’t painted in awhile.
“To accurately display all options for customers, make it easy to shop by using point-of-purchase displays,” says IPG’s Pagano. “Off-shelf displays and POP are great ways to display more details than just the packaging alone. Customers like to know how their tape is going to perform, how long it will stick and what kind of paint lines it will leave. Giving them enough information and a reason to buy this product is important.”
FrogTape® Pro Grade Painter’s Tape is the manufacturer’s first foray into blue painter’s tape. The specialty adhesive is designed to handle the rigors of a professional paint job while meeting the price point required by pros.
For DIY customers, literature that is user-friendly as well as informative can be a great resource to have on hand.
“The packaging should be easy to identify with minimal distraction and containing all the necessary information. Consumers may not know what they need, so it is important to help them by marketing the product well,” Pagano says. “While consumers are generally going to purchase the best tape for the job, the weekend warrior is more likely to buy the new product with the ‘cool factor.’ Marketing products with a why is highly important.”
Good and Fast
LaPorte at FrogTape agrees that efficiency and quality are key to attracting the professional painter customer base.
“Anything that can help professionals deliver quality work while saving time is going to pique their interest. With a tight labor market making it hard to find quality tradespeople, a product like FrogTape Pro Grade is going to help even the less experienced painter deliver beautiful lines,” she says. “That quality has a lot of appeal.”
Tapes are not the end of the conversation for painters. Each project that could benefit from the application of tape could also be best served with a combination of products available through specialty tape manufacturers.
“For example, if someone’s going to get KleenEdge Perfect Edge Painting Tape, you can talk up the benefits of using it with the Easy Mask QM5000 Masker & Easy Mask Premium Masking Film in order to mask off areas that they wish to protect during the paint job,” Rushin says. “The high-density film is treated with a unique formula which helps create cling to the protected surface, attracts overspray and reduces flaking.”
Trimaco packages many of those products into kits, Rushin explains. The Easy Mask QM5000 PRO™ Starter Kit contains one QM5000 Masker, one 12-inch Film Blade, one roll of KleenEdge Perfect Edge Painting Tape and one roll of 90-foot Premium Masking Film. After this initial purchase, a customer can then purchase rolls of tape, film and paper as needed.
Benny Cato, Trimaco’s southeast regional sales manager, urges retailers to take advantage of the growth in plastic’s popularity.
“Many consumers are moving from masking paper to masking plastic due to its bleed-through resistance that ensures the surface is protected. It is easier to wrap around objects and is translucent, allowing light transfer when masking windows. Price per square foot is comparable to paper, considering the length per roll is twice as long,” he says.
Tapes aren’t the only products that can save time and money on the job site. In addition to having a variety of tapes, retailers should also stock protective barriers like masking paper and plastic—which is becoming more common—to cover floors, windows and other materials during projects.
“Many customers do their research about products . It’s still important to explain the added value of the higher quality products to them— how investing in quality saves them time and money in the long run .”
—Nicola Rushin, Trimaco
Is the Price Right?
Given the technologies in play that assist specialty tapes in accomplishing their tasks, they often come at a higher price point than duct tape or masking tape designed to just adhere to a surface. This fact hasn’t been lost on manufacturers, who have worked to develop tapes that still work for professional painters but don’t break the bank.
FrogTape Pro Grade was created specifically to deal with this issue—it was developed in response to a growing demand among painting contractors for a high-performance tape at a value price, says LaPorte.
“With Pro Grade, professionals can get the performance of FrogTape in multipacks at pro-friendly pricing,” she says. “It also saves them money by eliminating time-consuming touch-ups or even callbacks for an unsatisfactory job. This more than makes up for the small difference in cost.”
Education is also important, says IPG’s Pagano. While some customers might get a bit of sticker shock when seeing prices for high-end tape solutions, it is up to the retailer to detail the ways a specialty tape can benefit the end result of a project.
“You might set up a display where the customer can peel off the different tape options themselves. To ease a consumer’s concern about spending more, the best option is to display the differences and qualities of all products,” she says. “If you want a quality product, the price is going to be a bit higher. Lower quality tapes will be priced lower. The amount a consumer is willing to spend should be dependent upon the job.”
Trimaco’s Rushin reminds retailers that many customers have done their homework.
“Many customers do their research about products,” she says. “It’s still important to explain the added value of the higher quality products to them—how investing in quality saves them time and money in the long run.”
You can continue a customer’s education in the store by putting out merchandising materials available from suppliers as well. Trimaco provides promotional flyers, banners, signage, POP displays, product information sheets, social media graphics and custom email eblasts, says Rushin.
“Depending on the substrate and condition of the coating, the user may have to step up to a more expensive tape to get the results they need,” Kolilias of Blue Dolphin says. “Using a cheaper product will lead to extra labor.”
It’s important for retailers to educate customers on the projects they are attempting and be ready with the right product based on the customer’s skill level. Different specialty tapes and coverage options can suit different projects.
By Diane Franklin
Unsung Heroes
Primers and Sealants Deliver Major Impact to Projects
Paint primers and sealants are the unsung heroes in many of your customers’ decorating projects. While these products don’t add “decoration” to walls and other surfaces per se, they are an underlying component that enhances the final results on a range of projects.
Primers in particular play an important role in enhancing the overall appearance of a paint job. For interior painting projects, quality primers add important attributes: better hide, improved adhesion, increased durability, stain blockage and a more uniform appearance of the final coat.
There are a variety of primers on the market— not only for traditional painting projects but also for such decorative projects as creating unique faux finishes, painting furniture, refinishing cabinets or accomplishing fun DIY projects like creating unique tabletop accessories or seasonal decor.
“The key to a winning project is a primer,” says Megan Newton, senior brand manager for Rust-Oleum. “The purpose of a primer is to create a foolproof project. If a primer is used, the paint will adhere better, create a smoother finish and the project will last longer.”
“Primers block the toughest stains and adhere to the most difficult surfaces like wallpaper . In addition, primers block odors from smoke damage and other sources .”
—Brian Osterried, PPG
A Trend Toward Versatility
One of the major trends in the primer category is products that offer greater versatility, which Newton observes is accomplished with product features that make a primer well suited for use on a variety of different surfaces.
“The idea is to make projects as easy as possible,” says Newton, noting that products in the Rust-Oleum lineup live up to this standard. “Most of our product lines offer a primer option, and many are versatile and can be used with most paints.”
Rust-Oleum offers a large selection of primers that fit this definition of versatility. Three examples from the lineup are: Stops Rust Universal Bonding Primer, which works well on even hard-to-adhere surfaces such as plastic; Foam Primer, which covers,
protects and primes craft foam so spray paint does not melt it; and Painter’s Touch 2X Ultra Cover primer, an everyday use primer that gets the job done fast and works on a variety of surfaces such as wood, plastic and metal.
Newton adds that the versatility of these primers means they can be used in conjunction with most other paints.
Michele Margotta Neary, vice president of marketing for United Gilsonite Laboratories, stresses how important primers and sealers are to achieving great results.
“Primers and sealants are necessities for interiors and exteriors of homes and businesses,” she says. “The elements can be harsh on natural and manufactured building materials, and clear and pigmented coatings are an easy DIY project and are used by pros to protect new construction.”
The versatility of various products often prompts customers to come up with their own creative uses.
“I do know that consumers have been using our DRYLOK on reptile tanks. They build foam mountain ranges and landscapes for the tank, then coat with DRYLOK and paint it to look like a landscape,” says Margotta Neary.
She adds that the product also has a big following among those who use it to make Halloween sculptures, with DRYLOK taking the place of classic masking materials.
Rust-Oleum’s line of primers and sealants aims for versatility, enabling users to craft a range of styles and finishes for their projects, says Megan Newton, senior brand manager for the company.
An All-in-One Trend
The paint primer category is always evolving, and surely one of the most dominant trends in the past few years has been the increasing popularity of combination products.
“Right now, many pros and DIYers are interested in ‘paint and primer in one,’” says Brian Osterried, PPG product manager. “That doesn’t mean retailers should stop carrying primers. They still deliver features and benefits that some combination products cannot. Primers block the toughest stains and adhere to the most difficult surfaces like wallpaper. In addition, primers block odors from smoke damage and other sources.”
There are some instances in which standard primers are preferred, Osterried points out.
“Depending on the surface, a primer is likely recommended to seal any patched areas to prepare the surface for a high-quality finish. Homes or specific rooms that have been exposed to smoke also require heavy cleaning and a coat of primer before painting. Nicotine creates a yellow residue on the surface that must be removed before painting.”
Osterried recommends removing the residue with a trisodium phosphate and warm water solution.
“Once smoke-exposed surfaces are wiped down, it can sometimes be difficult to get the nicotine to not bleed through the new paint, particularly with wood substrates in cabinets, doors or trim,” he says. “Therefore, a stain-blocking primer, such as PPG PAINTS™ SEAL GRIP® primer, is recommended before painting to ensure the stains don’t eventually bleed through.”
PPG Paints Seal Grip primer works because it is a premium interior and exterior product formulated to block most stains, including water, smoke, ink and tannin. It also provides adhesion to glossy surfaces. Featuring a fast-drying formula that can be painted over in as little as one hour, this product can be used as a whole house primer on properly prepared interior or exterior wood, masonry, plaster, wallboard, cement, brick, stucco, cement composition board and wallcoverings.
Continual Improvement
Primer manufacturers are constantly making improvements in their products so that they will perform better. A case in point comes from Mad Dog Paint Products.
“At Mad Dog Paint Products, a division of Merrifield Paint Co., we’ve noticed an increase in the use of flat sheens for exterior top coats,” says Doug France, sales and marketing director. “To make our flagship product, Mad Dog Dura-Prime, accept high-pigment, low-resin flat sheens better, we made a small adjustment in the product
formulation to reduce the surface tension of Dura-Prime, especially while it cures. With a relatively thin coat of 5 mils, flat sheens adhere to Dura-Prime exceptionally well.”
Dura-Prime is 50 percent volume solids, with extraordinary adhesion (over 300 PSI) and permanent flexibility, which France says makes the product “arguably the best 100 percent acrylic bonding primer on the market for locking down and encapsulating peeling, cracking and severely weathered substrates. And with more than 300-square-foot coverage per gallon, Dura-Prime may be the best value on the market.”
Thoughts on Sealants
Sealants are required in some circumstances before starting decorative aspects of a project. One trend that is occurring in this category is the use of more user-friendly formulations, as Michael Provenzano, PPG marketing manager, adhesives and sealants (makers of LIQUID NAILS® adhesives and sealants and TOP GUN® sealants) says.
“As a leading paint and coatings manufacturer, PPG is focused on making our business and our customers more sustainable,” Provenzano says.
PPG product manager Brian Osterried says the company’s line of TOP GUN sealants is suited to green building practices.
“We place great importance on environmentally conscious products and green building initiatives, and we are dedicated to developing products that help our customers achieve environmental certifications,” he says.
Provenzano reports that last year PPG announced environmental product declaration verification for 15 formulas from the PPG TOP GUN architectural sealants product line.
“EPDs contribute to the transformation of green building initiatives, such as Leadership in Energy and Environmental Design (LEED) v4, by enabling purchasing decisions built on science-based environmental information,” he says. “The EPD verification for PPG’s Top Gun sealants provides retailers and customers with another resource to quickly and easily reference the product during specification for a green building project. The usage of environmentally conscious products is one trend that is definitely here to stay.”
Selling and Merchandising Advice
Selling the unsung heroes of a decorating project is a bit challenging, since the part they play in a project is essentially invisible. Mike Mundwiller, Benjamin Moore field integration manager,
says the solution is to be more proactive at all points throughout the sales process.
“Primers are true problem-solvers,” he says. “Different substrates create different challenges. Primers are an ideal opportunity for knowledgeable retailers to show their high level of service to their customers by recommending the best product to solve the substrate challenge. Being able to discuss with a customer the advantages of a product like our INSL-X STIX Waterborne Bonding Primer, which has unparalleled adhesion to substrates like glass and tile, builds the retailers reputation for expertise.”
Fortunately, there are visual ways to get this point across, Mundwiller says, noting that many of the substrate challenges can be easily displayed at the sales counter.
“Having a painted sample of STIX on tile or cedar that shows tannin bleed, and how Fresh Start Exterior Wood Primer 094 suppresses that tannin go a long way in building the perception within the customer that the retailer is the expert,” he says.
Margotta Neary, meanwhile, suggests that retailers tap into the power of cross-merchandising to inspire customers to think creatively and to sell various products in this category.
Rust-Oleum manufactures a range of products that can prime and seal common surfaces like wood, plastic and metal. The products can be used in conjunction with many paints without damage or chemical interaction.
“Retailers should effectively display the coatings on popular substrates and take advantage of literature and displays manufacturers have available,” Margotta Neary says. “UGL has had the DRYLOK® Action Display for years, which conclusively shows DRYLOK® Masonry Waterproofer stopping water from soaking into the block. With a minimal number of employees available to explain products to consumers, often point-of-purchase and literature are essential in the process.”
Consumers may question why they even need to use a primer, often seeing it as extra work and perhaps feeling tempted to skip that step altogether. That’s why it’s so important for retailers to stress to consumers the necessity for using primers to achieve the look they desire. There can be a little extra work in the short run, but it’s worth it for the better outcome that consumers will achieve.
“Retailers should really focus on the end results,” Newton says. “Consumers may be hesitant to have to complete an extra step, but in the long run, the project will have less flaws and likely take less time. Plus, the project will have great results.”
Benjamin Moore’s STIX product line can adhere easily to traditionally difficult surfaces like glass and tile.
A Path to Growth
How Adding Outside Sales Led
A&E Paint Centers to Success
By Hilary Daninhirsch
Austin Young knows firsthand the connection between an outside sales team and an increase in profits. As the co-owner of A&E Paint Centers in Florida, Young himself became the first outside salesperson for the company about five years ago.
Fast-forward to today, and the 24-employee company employs five outside sales representatives, a factor that Young directly relates to the exponential growth of the business.
“We can get traffic in the store, but when you have an outside sales representative focusing on bringing in additional business, that is such a game changer,” Young says.
Building Toward Success
Young’s exposure to the paint business started early, as his father was in the paint business his whole life. When Young was growing up, the family owned a paint store in Kentucky, which gave him and his siblings a chance to learn the ins and outs of the business.
Today, A&E Paint Centers is a family-owned business, with several members of the Young family playing a role. The first store opened 13 years ago in Port Charlotte, Florida; the business has a second Port Charlotte location along with another in Cape Coral.
A&E Paint Centers is a dual-branded store, initially selling only PPG Paints, and then expanding to become a signature Benjamin Moore store. Young says that about 80 to 90 percent of their customers are contractors. Private townhome or condo owners, usually retirees or snowbirds, make up the rest.
Although being customer-oriented is a tagline often used in retail, Young says it is particularly true at A&E Paint Centers, as building and maintaining relationships is a priority.
“We recognized that having outside sales representatives in our business is crucial to find people who, for whatever reason, aren’t finding the store on their own .”
—Austin Young, A&E Paint Centers
“Our prices are good, but service is what separates us. I think what everyone in the store tries to do is to take care of the customer first and foremost,” he says. “Our customers have a lot of options, but we want to make this an experience that they remember, one they recommend to friends. Our focus is to always make sure the end result is something that everybody can be proud of.”
The company also offers ancillary services, such as a color consultant in the store who can help with color renderings. Their visibility in the community, including memberships in multiple professional organizations and regular participation in charity and fundraising events, is another essential business practice.
But it was the addition of a robust outside sales staff that kicked things up a notch and helped lift sales.
Developing the Team
“Sales representatives are the way to go. You should have one sales representative for each store location at a minimum,” Young says. He knew the business was out there, but decided to be proactive about chasing it a bit more.
“We recognized that having outside sales representatives in our business is crucial to find people who, for whatever reason, aren’t finding the store on their own,” he says.
A&E Paint Centers has three locations in southwestern Florida and serves a mix of DIYers and professionals. Through the addition of a robust outside sales team, the company has been able to significantly boost its pro customer base and its sales volume.
In fact, Young directly attributes the growth of his company’s profitability to the addition of an outside sales team, which has been a focus over the last five years.
“I went out as our initial outside salesperson about five years ago and that alone made an enormous difference,” he says.
Young later hired one of his competitors, along with his sister, who came aboard last year, as part of the outside sales team. Most recently, he promoted a manager from within and hired one more person to create a team of five salespeople.
“We’ve certainly seen a growth in sales as a direct result of that,” he says.
Freedom to Sell
Hiring new people is a two-way street. Interviewees are gauging whether it’s the right fit with their potential employer as much as they are being evaluated on their skills and knowledge for the role.
Young says he believes salespeople were drawn to A&E Paint Centers in part because the company is family-owned and -operated, and it’s known for treating its employees like family. The company also offers a competitive compensation package that includes attractive perks.
Young noticed all of his competition had multiple representatives, and some of them serve specific markets, such as commercial business or local homeowners associations. That is not the case with A&E Paint Centers, which Young says is a benefit for the salesperson.
“Our sales team isn’t segmented or pigeonholed; our representatives are allowed to chase whatever business they can find,” Young says.
He believes this one tweak to the process helps encourage sales representatives to keep their eyes open for opportunities anywhere and they appreciate the freedom of not being locked in.
In addition to not segmenting by market, A&E Paint Centers has its representatives sell the paint lines they are familiar with and can speak to the benefits of. Having two high-quality paint lines in the store helped attract new salespeople, because when the sales reps believe in a product, they are better able to sell it.
“People recognize the quality that Benjamin Moore and PPG have and the brand equity the companies bring,” Young says. “When you can go out and sell with those names, a lot of time you don’t have to sell the product; people know it is quality. That has definitely been an asset for our team.”
Young says the sales team regularly uses the quality of the paint as a selling point, and it helps create recurring business.
Austin Young (right) and his sister Nikki Young (left) are co-owners of A&E Paint Centers and are both part of the company’s outside sales team.
Having high-quality paint lines and sundries makes the sales representatives’ jobs easier at A&E Paint Centers. Owner and outside sales representative Austin Young says the brand name recognition is often enough to initiate a sale.
“An outside sales position is not a nine-to-five job . When I first talk to someone, I ask if they are OK with having a flexible schedule, with working nights and weekends, with going to networking events .”
—Austin Young, A&E Paint Centers
“In this industry, if you overpromise something, you won’t have that customer more than once. It’s ultimately about the product quality if you want a long-term relationship with people,” he says. “The lines we carry more than accomplish that and allow our team to be confident in what they’re selling.”
Finding the Right Fit
On his part, when bringing in new hires, Young prioritizes general sales experience
over direct experience in the paint industry because someone with sales experience already knows how to interact with customers and has familiarity with cold calls.
“I can train enough from the paint side for new representatives to go ahead and make sales calls, but having that sales experience is critical,” he says.
He acknowledges that not every new recruit has worked out, and there is some trial and error in the hiring process, but in general, he looks for several important qualities in candidates.
“First and foremost, they have to be disciplined. An outside sales position is not a nine-to-five job. When I first talk to someone, I ask if they are OK with having a flexible schedule, with working nights and weekends, with going to networking events,” he says. “That is all part of what this job dictates.”
He also advises new sales representatives that the key to being successful is to create and follow a specific regimen. And perhaps above all, he values a sales representative who has the right disposition to establish and maintain harmonious relationships with customers.
Although three of Young’s current sales representatives came from within and were already familiar with the paint business, the company still prioritizes on-the-job training and education.
In addition to making calls on their first day on the job, new recruits also shadow other more seasoned representatives.
The sales team tracks interactions on call sheets and follows the store’s lead-generation system. They also hold weekly sales meetings to discuss leads and sales calls and to make suggestions to help one another succeed. In fact, Young purposefully avoids fostering a competitive atmosphere.
“We have found it’s better to be open and work together,” says Young.
Looking ahead, Young would like to bring on as many sales representatives as he can.
“If we can have 20, I’m all for it, because everyone is making us money,” he says, pointing out that his service area has expanded, which would not have happened without the new business model in place.
For other paint stores seeking to bring in or add to their sales team, Young advises finding a representative who fits the company’s culture.
“They will be representing you and your company in the field,” he says. “You need to be confident that the people you hire will represent the company the way you want.”
4 Ways to Boost the Benefits of Outside Sales
Low unemployment rates and demand for increased wages often put small businesses into challenging positions to find qualified, long-term employees. When it comes to staffing your outside sales team, consider these benefits in addition
A birthday vacation .
Many businesses offer vacation time, personal days and holidays, but go the extra mile and give each employee an extra paid day off on their birthday. It’s an easy way to show gratitude and give them some time to spend their special day with family and friends.
Dinner on the house .
to standard packages that include health insurance and commission. Offering these types of unique perks will let your associates know you value them as part of the team and you want them to enjoy their work.
1 2 3 4
During staff meetings or on training days, treat your team to a meal catered by another local business. Not only will people appreciate the food, but it gives your team a chance to relax and get to know each other a little better in a casual atmosphere.
Games for goals .
If you already set weekly or monthly sales goals, add another layer of fun. Ask everyone to submit a specific dollar amount they’re hoping to hit for the time period. The person who gets closest to their dollar amount will win tickets to a local sporting event or other attraction.
On the phone .
Your outside sales team spends a lot of time making calls, texting customers and checking emails on the road. Eliminate any concerns about overages by setting up a company phone plan and giving each team member a line so they don’t go over the limit on their personal plans.
When it comes to hiring new team members, Young says it’s about finding the right fit for your company’s culture.
By Chad Husted
Masters of Their Craft
Stain and Finish Manufacturer Evolves, Expands to Accommodate Retailers
From its founding days of developing antiquing products to its present position offering a variety of wood stains and finishes to independent retailers, Old Masters has always kept the independent channel in mind.
As the market for interior and exterior wood finishes evolves, Old Masters changed its product lineup to follow suit. Now nearing its seventh decade in business, the company is at the leading edge of manufacturers looking to advance new technologies, including color and finish options for its customers and end users.
This drive has culminated in a new warehouse addition for the Orange City, Iowa-based company. With newly expanded storage to its distribution center, Old Masters will continue to supply independent retailers and paint businesses with quality finishes and stains for decades to come.
Changing Times
Ever since Old Masters was founded in 1953, the company has sought opportunities to modernize.
This began after founder Richard Ketcher started Old Masters as a manufacturer of products designed to distress and age furniture. After Ketcher’s retirement in 1969, the company was bought and sold a number of times before Diamond Vogel Paint bought the manufacturer and moved it to its current headquarters in Orange City.
“By 1982, the popularity of wood stains and finishes had grown and we were determined to shift Old Masters’ priorities to these products,” says general manager Robert Reints.
Old Masters rebranded its original antiquing ink and launched a new line of wood stain called Finishing Stain. This lineup featured 12 colors which could be tinted with universal colorants, making it a good fit for paint stores looking to custom match wood stains for their customers.
“It was that era that we really became known as an interior wood finishes company, and Old Masters continued to grow from there,” Reints says. “We really put a focus on developing distributor pricing programs and refocusing our sales efforts on new packaging, labeling and other changes to bring all of our products into the same family. This helps our
product sell and helps our retailer customers merchandise them for the end user.”
Old Masters began working with distributors and buying groups to further expand the reach of its products and integrate them in the independent retail market.
“Old Masters’ mission to manufacture and provide craftsman-quality stains and finishes has made us a great fit for buying groups,” Reints says. “The fact that our product line is supported by two-step distributors all over the country makes us an easy and profitable choice for our customers.”
Finishing Strong
Old Masters’ current lineup has focused on a few key areas for independent retailers. These water-based clear finishes like Masters Armor Interior Clear Finish and Ascend Exterior Water-Based Clear Finish. These products meet the toughest government regulations, including OTC, CARB and SCAQMD, for clear wood finishes.
Masters Armor Interior Clear Finish is designed to improve the application process of the finish and increase its durability over water-based polyurethanes. There is also a hardener additive for Masters Armor Interior Clear Finish that increases its performance for high-traffic areas like flooring, tables and bar tops where heat, solvent, moisture and staining materials can be a factor.
Ascend Exterior Water-Based Clear Finish is a 2019 launch replacing Old Masters’ Water-Based Spar Urethane using the same technology as Masters Armor. It applies easier and lasts
longer than current exterior water-based products on the market. It is available in matte, satin, semigloss and gloss.
Old Masters is the only company in the industry to offer multiple stain categories (penetrating, wiping and gel) in the same color palette. Customers can match a fiberglass door to an oak floor or pine window moldings to maple cabinets.
To better service its customers with these new products and the industry staples Old Masters has brought to the market, the manufacturer recently expanded its Orange City headquarters, warehouse and distribution center. The original facility, opened in 2007, nearly doubled to include more than 50,000 square feet of warehouse space.
Independent Ideas
Old Masters has invested in social media as an effective means to communicate directly with woodworking enthusiasts. Wood finishing, with its visual impact, is perfect for social media. Sandy Agar-Studelska, marketing manager for Old Masters, encourages independent retailers to follow and share Old Masters posts as a way to add content and awareness of wood finishing and enhance their own marketing efforts.
Agar-Studelska adds that retail staff should take every opportunity to use and familiarize themselves with products like Old Masters and use the products on their own projects.
“Retailers who build experience with any product in turn can relay skills and knowledge to their customers seeking expert advice. That’s the real advantage that an independent can offer to any customer over their competitors,” she says.
Old Masters has evolved from a manufacturer of antiquing products to a leading manufacturer of wood stains and finishes for the independent retail market. The company’s focus has been to develop low-VOC options that enhance durability and ease of application.
Rising Star: Tips From a Building YouTuber Fresh Coat
For independent retailers, social media can be a tool for you to promote sales, products and business culture. It’s important to use caution when promoting your business online, because social media can also become a forum for complaints that can spiral into potentially harmful conversations. If you manage it responsibly, social media is one of the best ways to reach potential customers.
Post What You Know
Risinger may have over 350,000 followers now, but that wasn’t always the case. By posting regularly and improving his on-camera skills, that number climbed. Post material that you find interesting or informative, and interested parties will find their way to you. 1
Matt Risinger, owner of Risinger & Co., started a YouTube page on a whim to show off some of his building projects around Austin, Texas. In a few years, his personality and knowledge have grown the page’s following to 350,000-plus subscribers.
Here are a few tips from Risinger on how to use social media responsibly and in ways that will benefit your business.
Promote Your Friends
2
In his videos, Risinger is eager to name people he’s working with and talk about their work in a positive light. These aren’t advertisements, just a friend talking about the great work of another friend. “Promote people who will promote you back,” Risinger says.
Know When to Log Off
3
Social media can be an important part of your business plan and marketing strategy, but it is possible to take it too far. If managing social media channels becomes a distraction, spread the responsibility around or reconsider how often you post.
Log On for Local
PDRA to Host Buy-Local Focused Webinar
The Paint and Decorating Retailers Association is continuing its webinar series with a presentation from Bill Brunelle, co-founder of Independent We Stand, an organization that is committed to promoting the benefits of locally owned independent businesses through the U.S.
Brunelle will present “Buy Into Buying Local,” which will showcase the reasons independent retailers should support other local businesses in their communities.
“American shoppers’ desire to buy local has never been stronger,” Brunelle says. “This webinar will teach retailers more about the buy-local movement and how it can drive sales and customer loyalty. Learn more about the power of leveraging your independently owned status and how you can use it to inspire your potential customers to buy local.”
The webinar will take place June 19 at 10 a.m. CST. You can register at pdra.org/webinar or contact Tina Sullivan at tina@pdra.org or 800-737-0107.
“We understand that many retailers are interested in continuing education, but they often can’t spend time away from their operations. We’re thrilled to be able to offer our members learning opportunities that don’t require them to leave their stores,” says PDRA CEO LeAnn Day. “Webinars are quick-hit lessons that deliver a remarkable value. We encourage retailers to make time to continued learning events like these.”
Independent We Stand is sponsored by STIHL, Do it Best Corp., Nationwide Marketing Group and PPG. You can learn more about the organization and the shop local movement at independentwestand.org .
PDRA Awards $5,000 Scholarship to Emma Petri
Iowa State University student Emma Petri is this year’s recipient of the PDRA Annual Scholarship. Petri was nominated by Jerry Keim, who owns Keim’s Paint Center in Rock Island, Illinois, and has been a member of PDRA for 29 years.
“I’ve known Emma for many years, and she’s a great student who is involved in a number of extracurricular activities,” he says. “She has a bright future ahead of her.”
Petri submitted the following essay about her career goals and how this scholarship will help her achieve them.
My name is Emma Petri, and I am a junior at Iowa State University studying event management. My time in college allows me to participate in various organizations on campus. A club I’ve been involved with since January 2017 is Alpha Phi Omega, a national, co-ed service fraternity. We focus on volunteering in Ames, Iowa, where the campus is located, and its surrounding areas. My chapter of Alpha Phi Omega works with Boy Scouts of America, and I help run a Boy Scout troop for at-risk kids along with coordinating a Merit Badge University at Iowa State. In addition to participating in service projects, I have also been the vice president of fellowship for the past two years. In this role, I plan and coordinate fellowships throughout the year and semester banquets. Some of my bigger fellowships include progressive dinners, a murder-mystery party and Alpha Phi Omega Olympics.
I also had the opportunity to participate in the National Student Exchange program in the fall of 2017. This program allows students to study at a different university within the states for a semester. I chose the University of Nevada-Las Vegas because they have one of the top hospitality and event programs in the country. My time in Las Vegas gave me new insights and showed me different career options within the event industry. I also had the opportunity to join the Alpha Phi Omega chapter at UNLV where I was able to participate in new service projects.
I also spent the past two summers in Green Bay, Wisconsin, and Charleston, West Virginia, working as a ministry support coordinator for Youthworks, an organization that places its employees on teams of four and sends them into cities all over the U.S. to run missions trips for middle and high school students. My role was to coordinate evening activities and gatherings, serve and volunteer alongside the students at the various thrift stores, homeless shelters, nursing homes and kids’ programming we partnered with. In addition to having a summer job, I am an office assistant at Iowa State during the school year. My job consists of helping students change their majors, checking in for appointments and answering overall questions they have. I also work on various projects that pertain to career services or international studies.
Receiving this scholarship would help me continue my academic endeavors into my senior year of college. Upon graduating, I hope to find a job in the entertainment or sporting industry. Since the state of Iowa lacks opportunities within these areas, I would like to move to a bigger city to pursue these career opportunities. The money from this scholarship would help offset the amount of money I would need to take out in loans for my last year of college.
Finding Your Real Value
6 Situations That Require a Business Valuation
Preparing a valuation for your company is a little like having a thorough physical examination on yourself with lots of X-rays and blood tests. The business valuation, if it is prepared by someone who knows your industry, can be an excellent way to get an expert’s opinion on how well your company is being run compared to national industry averages.
Discover six situations when scheduling a business valuation can give you powerful operations information.
1. Selling to family or key employees. The valuation will consider which assets are being sold and which assets will be retained by the seller. The valuation is providing perspective to both the buyer and seller depending on how the sale of the company is financed. If the usable cash flow changes during the transition, then those changes could impact the valuation.
2. Selling to an outside party. The calculation for the usable cash flow, or adjusted EBITDA, will be different when selling to an outside party. If the business owner sells immediately, there would probably be a higher EBITDA and thus a higher value. The buyer will want to review all assets and analyze the usable cash flow. A well-prepared business valuation helps buyer and seller discuss terms and conditions.
3. Seeking to improve value. If selling in the near future, a business valuation can monitor the progress of your transition plan. The business owner could increase the value of the company by raising gross margins 1 or 2 percent each year during the years before selling. They may also try to reduce expenses or eliminate slow-moving inventory.
4. When working with estates or probate. Unfortunately, a business valuation is usually required when a stockholder of a privately held company dies. The business valuation is needed for estate planning, but it may also be required by the company’s stock redemption agreement. Also, if a stockholder is getting divorced, the attorneys and both spouses will likely need a business valuation for property settlement negotiations
5. Entering buy/sell agreements. If there are multiple stockholders, it’s a good idea to have a business valuation prepared when stock redemption agreements, or buy/sell agreements, are first signed. Then, every one or two years, the valuation report can be updated to provide the
updated stock valuation, which is used to update the stock redemption agreement. This way, all stockholders know the value of the stock and how the valuation was calculated.
6. Planning for retirement and contingencies. A valuation report can value the shares in case one of the stockholders is retiring. In order to buy out the retiring stockholder, knowing the updated value of the stock would be critical. If one of the stockholders becomes disabled and unable to perform their duties of the company, a business valuation becomes important. Sometimes a stockholder may wish to sell a few shares if they have a need for cash. If cash is needed for medical purposes, or perhaps paying for college expenses, selling a few shares of stock in the family business may be one option for raising cash.
Gary Pittsford
is
president
and
CEO
of Castle Wealth Advisors LLC, a firm that specializes in family business valuations, succession planning, estate and income tax analysis and retirement income security. Contact him at 888-849-9559 or gary@castle3.com
0 Mike Weber | Hirshfield’s
Guest Column
Social Media
Being Socially Engaged
5 Tips to Enhance Your Social Media Strategy
Connecting with your customers and fans on social media is key to business growth. Done well, it can lead to stronger customer-store relationships and increase positive word-of-mouth. These days, just being on social media is not enough, as consumers are used to social media messages by brands. Here are five tips to spark new online ideas for you.
1. Plan ahead. A content calendar is a schedule of what you plan to share, and a social media scheduler lets you schedule these ahead of time on multiple social platforms. The calendar will help keep you on track and save you from scrambling for content. In one sitting, you can take care of a month’s worth of posts across different sites. We recommend using Google Calendar for your content, and Meet Edgar, Later or Viraltag for your scheduling.
2. A welcoming space. Designing a shop that welcomes customers in style—such as with eye-catching displays and fun project ideas—creates an environment that encourages visitors to take photos and continuously share on social.
3. Employees. Some of your best brand ambassadors are employees. Share your brand’s key points and social guidelines so they are easy to follow. Listen to employees’ input and experiences in the store and on social media. They offer a unique perspective and when they feel heard and part of the team, they are more motivated to share on behalf of your brand.
4. Events. Reach out to your pro customers and manufacturers to help create ongoing events. For instance, an interior designer can hold a class on choosing color. Many manufacturers would also be glad to collaborate on ideas for featuring products, conducting seminars, holding a contest and more. The events would ideally provide knowledge back to your core base (design or DIY) that will keep your customers coming back into the shop to learn, and of course, to shop. Promote these ahead of time on your social pages and be sure they are listed on your events pages.
5. Establish a media library. Social media needs content that is regularly generated. Reach out to your customers for pictures of their work as well as manufacturers and sales representatives for product and project images. Set these up in your content calendar and schedule them! Be sure you obtain permission to use these images along with giving proper credit.
Managing your content regularly and keeping your eyes and ears open to new content will keep your social sites looking fresh and full of ideas—just like your store. These social media tips can help lead your business to great success, just like it has our clients.
Monique Rogers is the founder of The Hive 3, a firm focused on branding, marketing, research and social media engagement. Her previous experience includes management, financial planning, marketing and an emphasis on small business success.
PDRA EDUCATION INITIATIVE
Small Business & Barbecue:
A Winning Combination
Earlier this spring, a team from Independent We Stand, a national organization that promotes small businesses, went on a five-day road trip through some of the best barbecue country in the U.S. Starting in Asheville, North Carolina, and ending in Kansas City, Missouri, the Great American Red, White & Q Road Trip covered over 1,000 miles and helped promote Independent We Stand’s America’s Main Streets contest. The three-month long contest invites the public to learn about the nominees and vote at mainstreetcontest.com for their favorite Main Street. The winning street will be announced on July 4 and will earn $25,000 in cash and prizes.
“The goal of this trip was for Independent We Stand to promote the unique experiences and the economic impact of America’s Main Streets on local communities,” says co-founder of Independent We Stand Bill Brunelle. “This year, we packed our napkins as we ate our way through barbecue hot spots and visited unique businesses that help their Main Streets thrive.”
One stop on the tour was Flanagan Paint & Supply, a paint, flooring and window covering company with two locations near St. Louis. The 70-year-old company was purchased in 2007 by the Donnelly family, and since then, the father-son team of Jim Donnelly and Jay Donnelly have expanded the business, specializing in architectural, commercial and industrial coatings. Thanks to Jim’s background in paint sales, paints from Flanagan’s now cover bridges, stadiums and schools.
Jay says he and his father were thrilled to have the Great American Red, White & Q Road Trip stop at their store. During the visit, Jim shared several retail experiences, including his joy at turning customers into friends and his thoughts on the big boxes.
Although some small businesses fear the impact of big-box stores, Jim expressed the opposite, saying box stores have driven some of their best customers to them in order to help fix mistakes.
Jim Donnelly (left) and his son Jay operate Flanagan Paint & Supply, which has two locations in the St. Louis area. The business was a featured stop on the Independent We Stand Red, White & Q Road Trip this spring.
from paint store to problem solver
The entire Benjamin Moore & Co. Family of Brands includes much more than interior and exterior paint. We offer coatings for virtually all surfaces, including metal, masonry, pools and parking lots.
Talk to your Benjamin Moore® representative to learn about the products that will transform your paint store into the ultimate problem solver.
