Consider these 10 categories at the NAMA Show to help build business value
Next month’s NAMA Show in Dallas will be one of the biggest in years. For any operator who is thinking about selling their business, it is an opportunity to gain exposure to potential buyers and to find products that can build your company’s value. This year's NAMA Show runs from May 7th to May 9th.
If you have followed my newsletters on an ongoing basis, you will know by now that I am a firm believer in the value of the NAMA Show, especially for the operator who has an exit strategy. It doesn't matter if you see yourself selling in one year, two years or five, the NAMA Show is important for several reasons.
Get known
1) It provides an operator an opportunity for some exposure. Attend and participate in round table discussions and education sessions. Ask NAMA people how to get involved at next year's show. This year, when you ask a question at a session, say your name and the name of your company out loud. Make a point of introducing yourself to large operators, potential buyers, like people from Canteen, Aramark, InReach and others.
Here is a good way to start the conversation with a corporate guy you see at a booth or at an industry event. Introduce yourself and tell them you admire the success of their company and ask them a question about which single cup brewers are working well for them, how they are dealing with micro market security, if they still think vending will be viable in the coming years or if anything in particular has impressed them at the show. They will always be receptive, because people in this industry are very helpful and they will ultimately remember who you are. Down the line, when you are ready to sell your company, the entity that is known generally draws more interest from buyers than a company that always sits under the radar.
Go see Bob Tullio at the Automatic Merchandiser and Vending Market Watch booth and see if he is interested in a comment from you about the NAMA Show for one of his post-show podcasts on Vending & OCS Nation. It will provide you with some excellent industry exposure.
Stay sharp
2) If you are going to be in the business for any period of time, you need to know what products are driving revenue. Having access to cutting edge products and equipment is critical; it tells a lot to a prospective buyer. It says that you are paying attention and running your business the right way.
Look at these key categories
3) If you are planning to sell your business in the near future, certain exhibitors have exactly what you need. You should be looking at how you can drive sales. I have identified 10 categories at the 2024 NAMA Show that can help you accomplish this objective:
10 key categories to explore at the 2024 NAMA Show…
1 - Check out the Meat Snack Category – Leading operators will tell you that meat snacks continue to be a hot selling product in vending and micro markets.
2 - Indulgent Products – From cookie dough to ice cream to premium chocolates – consumers are craving indulgence.
3 – Better sandwiches – Consumers are increasingly relying on micro markets for a meal and that means operators need to focus on quality sandwiches – especially frozen to thaw.
4 – Sales support – Telemarketing and other sales-oriented products can help build sales quickly.
5 – Breakfast – Any operator who is missing this segment is ignoring a huge revenue opportunity. Focus on breakfast products that deliver quality.
6 – Baked foods – Again, with the reliance on operators for fresh and delicious entrees, the growing name brand premium meal suppliers need to be considered. The potential buyers for your company are investing in this category.
7 – Salads – There will be more salad options at this show than we have seen in the past. It’s a fast-growing segment.
8 – Specific dietary needs – Vegan, KETO, vegetarian, gluten free – this category is gaining momentum.
9 – Ice – This has become a premium category. Consider companies that will take the ice investment and service headaches off your hands, allowing you to conserve capital, especially if you are thinking about a sale in the next year. If you have the time and technical expertise, ice machines are a steady form of long-term income.
10 – Water – Water machine rentals are worshiped by potential buyers for your business. The new breed of dispensers are sleek looking, with plenty of bells and whistles, generating significant ongoing rental income.
Focused on maximizing the value of your business
At VBB Advisors, we are committed to serving our clients long before they sell their businesses. Accordingly, we stay on top of industry trends and help operators maximize the value of their business before they go to market.
At the same time, buyers come to us because they know that we serve sellers who have thoroughly and thoughtfully considered their exit strategy with my help. That is the type of seller that you want to be – a seller who has their ducks in order, has taken steps to make their business as attractive as possible and a seller who values their employees enough to make a deal that everyone will feel good about.
Take that critical first step. That is often the toughest one to take.
Order our free 2024 Exit Strategy Planner. At the very least, it will provoke some thought, and this is a good time to think about your future.
Whatever your reasons are to sell your company - the timing, a sense of frustration, the desire to enjoy life or an interest in rewarding yourself for years of hard work – VBB Advisors can help you realize your goals.
I am Mike Kelner, the leading sell side intermediary in the convenience services industry. Let’s sit down and have a conversation. Use this appointment scheduler to set up a meeting with me.
Or – give me a call at 704-942-4621
