by Jim Hinshaw Recently, I heard a story of a Viet Nam Vet who was at a restaurant having a dinner with his wife when a stranger comes up to him and calls him out by name. He asked the Vet how he was doing. He responded, “Do I know you?” The stranger says, “Yeah, I packed Read more
Business
by Jim Hinshaw
Recently, I heard a story of a Viet Nam Vet who was at a restaurant having a dinner with his wife when a stranger comes up to him and calls him out by name. He asked the Vet how he was doing. He responded, “Do I know you?” The stranger says, “Yeah, I packed your chute back in the day.” This supposed stranger was no stranger at all. In fact he was the ground support crew that made sure parachutes opened for the troops while flying missions over Nam. There’s nothing more critical than making sure you parachute opens when jumping out of an airplane. It’s the difference between life and death. This stranger literally kept this other Vet alive by packing his parachute correctly every time. Talk about having a guy’s back; this stranger literally did.
This got me thinking about contractors in our industry and the survival of your business. So who’s got your back to support you or even help save your business? Who can you call on when things don’t go exactly as planned? Many of you in this industry are in business for yourselves and sometimes it can be lonely running the shop by yourself. So whom can you call upon? You can’t talk to your employees if you have any because they have problems of their own and aren’t interested in yours. Friends don’t want to get involved and usually don’t understand your business and industry anyway.
So you need a person you can call upon when you are not sure what to do next and offer support to grow your business or even survive. You need a good chute packer who’s got your back. Do you have such a person in your life that’s a confidant and trusted advisor to help you get through the tough times and market swings this industry brings?
I happened to have married a chute packer, May, who always has my back and I have absolute confidence in that. She not only supports me, but she’s also completely honest in all aspects of our relationship, business and personal. That is what you want from a trusted advisor, the truth at all times. Even when there is bad news to be delivered, you need one who will deliver it and not sugarcoat the opportunity you are facing to simply make you feel good temporarily.
So how can you find such a trusted advisor that can support you with the challenges this business and life throws your way? Perhaps they may be someone you already know. In some cases, a family member may be able to help such as a relative who has been or still is in business and can share thoughts on your plan of action for your business.
In addition, there is no shortage of consultants on the planet; you can hardly swing a cat around by the tail without hitting one. OK, I know that’s sort of a stupid and non-politically correct phrase, but you see where I am going. There are consultants who have been in this industry and have bought and sold companies similar to yours. There are others who have had experience in different industries but have life lessons that apply across many industries and businesses that can help you with the issues you are facing. Ask other business owners whom you respect who they have used and how they have been helped to receive the results they achieved.
You can even interview a consultant and ask about their experience, how they have helped others and what they will do for you. Any consultant should be able to provide references and an action plan for your situation before going on the clock. Just ask.
Another source of trusted advisors are your business relationships, the sales reps calling on you. Many have been involved with contractors who have businesses similar to yours; they may have helped others grow their companies or have learned over time what separates one successful contractor from another. Ask your rep what advice he may have for your business as many have moved from being simply order takers to consultants that will work with you; and without charging additional fees. Many distributors have put together business programs addressing exit strategy, HR concepts, how to work with different generations, Quick Books, and many other concepts. So the next time your rep calls on you, ask him to have a cup of coffee with you at a local coffee shop. Ask for his help with your business or what he sees other successful contractors doing that you may also be able to implement.
A final source of help may be an industry group such as Service Roundtable. With full disclosure, I am a coach and partner in SR; it is the nation’s largest forum for HVAC, Plumbing, and Electrical contractors. It’s only $50 per month and you may interface with companies up to $50 million/year in sales. You can ask the group how they are doing GPS, health care, dispatching, almost anything, and be provided some great resources. It’s a huge bargain! Here is a link to save you $25 off the first month’s membership, from me! http://www.serviceroundtable.com/Hinshaw
Also be aware that none of us know everything about every business and even we can use outside support from time to time. But there is help and advice available all around us. Just do your investigative work and find the person who can fit your needs, budget, and who will defiantly have your back. With your business and livelihood at stake, It can be the difference between survival or going out of business. You need a good chute packer.
It’s not often that a company is named one of the best places to work, let alone receive the ranking for four consecutive years. But, Moen has done exactly that – the #1 faucet brand in North America is honored to be voted one of the Top Workplaces in Northeast Ohio by The Plain Dealer Read more
[vc_row][vc_column][mk_image src=”http://www.plumbingperspective.com/wp-content/uploads/2015/07/Knowify-Logo.jpg” image_width=”800″ image_height=”350″ crop=”false” svg=”false” lightbox=”false” group=”_general” frame_style=”simple” target=”_self” caption_location=”inside-image” align=”left” margin_bottom=”10″][vc_column_text disable_pattern=”true” align=”left” margin_bottom=”0″]Knowify Knowify for Contractors is a powerful new suite of tools to help Plumbers manage their businesses better. For the first time you’ll be able to manage both the service ticket side of your business and the long-term contract work Read more
[vc_row][vc_column][mk_image src=”http://www.plumbingperspective.com/wp-content/uploads/2015/07/Knowify-Logo.jpg” image_width=”800″ image_height=”350″ crop=”false” svg=”false” lightbox=”false” group=”_general” frame_style=”simple” target=”_self” caption_location=”inside-image” align=”left” margin_bottom=”10″][vc_column_text disable_pattern=”true” align=”left” margin_bottom=”0″]Knowify
Knowify for Contractors is a powerful new suite of tools to help Plumbers manage their businesses better. For the first time you’ll be able to manage both the service ticket side of your business and the long-term contract work in one easy-to-use, highly automated system. Better yet, Knowify syncs with your QuickBooks, ensuring that the operating side of your business and the accounting side of your business stay up to date with one another.
Dispatch
Knowify’s service ticket/dispatch features will allow you to view a map of your service appointments, see your resource schedules and availability, and book new appointments in seconds. Your dispatched teams can view work orders, check in and out of jobs, record comments, and mark jobs as finished from Knowify’s powerful mobile app.
Contract Work
From bid to billing, Knowify’s job management tools will help you deal with the painful administrative tasks that can really burden a plumbing company. You can:
– Use Knowify’s powerful project management features to cost out jobs and then run them once they’re live;
– Prepare bids or change orders and submit them for e-signature directly through the system;
– Track resource schedules and worker timecards, including a special “foreman view” your on-site foremen can use to punch in time for everyone from the jobsite quickly and easily;
– Prepare and send purchase orders to your vendors through the system;
– Bill for your work with standard invoices or with AIA-style applications for payment, depending on the job;
– And more![/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][mk_image src=”http://www.plumbingperspective.com/wp-content/uploads/2015/07/Knowify-1.jpg” image_width=”800″ image_height=”350″ crop=”false” svg=”false” lightbox=”false” group=”_general” frame_style=”simple” target=”_self” caption_location=”inside-image” align=”left” margin_bottom=”10″][vc_empty_space height=”50px”][mk_image src=”http://www.plumbingperspective.com/wp-content/uploads/2015/07/Knowify-2.jpg” image_width=”800″ image_height=”350″ crop=”false” svg=”false” lightbox=”false” group=”_general” frame_style=”simple” target=”_self” caption_location=”inside-image” align=”left” margin_bottom=”10″][/vc_column][/vc_row]
By Jim Hinshaw I recently had a flight to Philly and met an airline attendant that could change the face of flying. Now, I realize that some of you may wonder, what does a flight attendant have to do with my business in the plumbing industry. But I had an encounter with a flight attendant Read more
By Jim Hinshaw
I recently had a flight to Philly and met an airline attendant that could change the face of flying. Now, I realize that some of you may wonder, what does a flight attendant have to do with my business in the plumbing industry. But I had an encounter with a flight attendant on a US Airways flight that was stunning and the lesson applies to all of us as well.
My son, Mike and I were flying out of Denver on a direct flight to Philadelphia with carry-on bags only. I travel all the time so I have a good idea of what will and will not fit in the overhead bins. My bag always fits unless it’s a small commuter jet. However, this was a brand new Airbus 321. And I mean so brand new it still had the new plane smell to it just like when you buy a brand new car. Mike and I sat in seats 12C and 12D, across from each other and right where we wanted to be with both having aisle seats. For clothing I was wearing my travel uniform and an Under Armor shirt to keep warm. As we walked in, and attendant named Jeff challenged me about my baggage. He said, rather loudly and firmly, “Hay, Under Armor, put that carry on down!”, as if in demand without request. I kindly protested and said, “I know it will fit, I’ve done this many times before”. Jeff asked, “What seat are you in?” And I responded, “12C.” He said, “I’ll put it up for you.” Now, it took me a minute to understand that comment since I would never have imagined that phrase coming out of the mouth of a flight attendant. So I said, “Great, that would be just great” and handed over my bag. He then asked me if I wanted my briefcase up there next to the carryon as well! I thought, wow, It just doesn’t get any better than that.
Jeff was a middle-aged guy, but looked to be in good shape. He turned to my son and said, “where ya sitting?” Mike told him, 12D, and once again Jeff said, “I’ll put those bags up for you.” So he was not simply doing a mercy bag lift for an old guy like me, he did it for everyone, young or old. In fact, as the rest of the passengers came down the aisle, he lifted each bag up. About 200 bags or so in all. I had a chance to chat with Jeff later on because it was a 4 hour flight, and found out some things. He lives in Phoenix, and enjoys working out but isn’t able to make it to the gym like he used to. So now he works out in a way by lifting bags on each flight instead. That equates to lifting about 30 pounds approximately 200 times each flight and about 3 flights per day. That could be as much as lifting 18,000 lbs. per day. Now I am aware that lifting bags on a plane is not the same as a 150 lb barbell, but it’s still quite an exercise.
I told Jeff that if word got out, he would ruin it for flight attendants all over the world. He laughed and said not much chance because no one knows him. I told him I would do all I could to change that because he made such a positive impression on Mike and I.
So you may think this is a one in a thousand flight experiences and will never happen again, right? Mike and I flew back on United and had another encounter that was just as amazing. We got on and sat in the back of the plane this time in row 22. When the food cart came by during the flight, Mike ordered an item and I said, “I’ll pick it up.” The flight attendant responded, “Nope. It’s on me!” Another WOW moment in an already marvelous trip. And It gets even better. About 2.5 hours into our 4 hour flight, Mike and I went to the rear of the plane to use the facilities. A couple of passengers and the two flight attendants were standing there chowing down on more of the food, etc. Now when Mike and I travel, we always like to chat with the attendants to find out where they’re from and when they’re going home etc. A woman in an exercise suit asked what we wanted to eat or drink. We thought she was a flight attendant off duty or something and perhaps heading back home. Not so as she was just another passenger. The flight attendants asked us what we wanted. We replied with what we wanted and I went to pull my credit card out when they both said, “It’s on us! No charge!” Those are generous and inspirational words to hear when you are on the road. We stood back there and talked with them for about an hour. It really was a memorable trip for us. After a while, a 2 year old boy came running back being chased by his dad. We ended up playing with the boy for 10 minutes while his dad had a chocolate bar. And you guessed it, he got one for free!
Is there an application for our industry? I believe so. Let every employee know that they are in charge of customer relations for your company. They’re basically your ambassadors in a way. Anyone who has any interaction with customers are part of the sales team and contribute to the perception of the company. IT takes just one person to make someone feel good or bad about a company. After getting home, my wife asked how the trip went? I told her it was unbelievable. She asked me to clarify since unbelievable can go either way. I said it was unbelievably good. Both US Airways and United are high on my list of companies I want to do business with simply because of the actions of a few employees.
So while it may be just another install to the installation, they must make it special for every customer And I want to be clear about something. I’m not saying you have to give away your products and services, but you do have to connect with the customer and connection with them emotionally and positively. That is how business is done today. As an example, I had a horrible flight out of New York a few years ago on a small commuter jet heading back home. Except we never made it home. We ended up with a mechanical problem and landed in Philly I think. However, they would not let us off the plane as we sat there for 3 hours. Then when they did let us off, we had to go into the boarding area only and could not leave because we were going right back out. It was a horrible experience. We got back on the plane where it took 6 long hours to go the rest of the way as we at on the runway for another 2 hours. Guess which airline? The same one we flew last month. So I had made a mental decision not to fly them ever again. I can count on one hand the number of trips I have taken with them in the last 5 years actually. However, this one employee, Jeff, changed my mind completely. He made me realize that one person can make a difference both good and bad.
You see, it’s not about giving away your products and services, it’s always the extras that are so unexpected that people remember. Everyone “expects” good service from everyone today. It’s the small things, even a free soda or candy bar. The airlines weren’t in the business of selling food or free baggage lifts but in air travel sales. But it was the generosity in the baggage lifts and small food items that made the difference. Is it not worth it to give a way a soda or candy bar sometimes when passengers are spending a few hundred dollars for a flight sometimes? The cost is peanuts compared to the reward of more passengers. This same principal applies to contractors and your business as well.
One employee can connect with the consumer, and they will feel good about your company because of what that one person does. So let your employees know how valuable they are in the process of keeping customers. Because they are.
Thanks, for listening, we’ll talk later.
This report analyzes the worldwide markets for Plumbing Fittings and Fixtures in US$ Million by the following Product Segments: Plumbing Fittings (Bath & Shower Fittings, Lavatory Fittings, Kitchen and Other Sink Fittings, & Other Fittings), and Plumbing Fixtures (Bath & Shower Fixtures, Lavatory Fixtures, Kitchen and Other Sink Fixtures, & Other Fixtures). For more information Read more
This report analyzes the worldwide markets for Plumbing Fittings and Fixtures in US$ Million by the following Product Segments: Plumbing Fittings (Bath & Shower Fittings, Lavatory Fittings, Kitchen and Other Sink Fittings, & Other Fittings), and Plumbing Fixtures (Bath & Shower Fixtures, Lavatory Fixtures, Kitchen and Other Sink Fixtures, & Other Fixtures).
For more information please click on:
http://www.researchandmarkets.com/publication/m9e1sq2/plumbing_fittings_and_fixtures
Plumbing fittings and fixtures are crucial components of plumbing systems installed in buildings for efficient distribution of water within the building for drinking, washing, heating and for removing waterborne wastes from the building. Plumbing components are typically used in laying pipelines that provide means of transport for fluids into and out of the building. Given that efficient plumbing is a critical requirement for all buildings, demand for plumbing fittings and fixtures is dependent on the level of construction activity, which in turn is influenced by the overall health of the economy. The level of economic growth and construction activity primarily dictates market prospects for plumbing fittings and fixtures. Current improvement in economic growth as mirrored by the steady rise in global GDP, and improving consumer confidence is poised to boost housing starts, commercial and infrastructure construction projects and building renovation/retrofit activity in most nations.
Rapid urbanization in developing countries will continue to drive growth in the market, since strong urban concentration will trigger increases in infrastructure expenditure, and urban planning. The creation of large megacities involves the construction of high-rise buildings and skyscrapers, which in turn increases prospects for plumbing work, thus driving market prospects for plumbing fittings and fixtures. The urban drift and the ensuing growth in urban areas and reclassification of city boundaries is largely triggered by concentration of employment opportunities in urban areas and continuous shifting of opportunities from agricultural to industrial/tertiary sectors. Growing need to develop sustainable cities for the future will have a significant impact on market prospects in the coming years.
Building renovation projects are expected to benefit from the implementation of stringent regulations that mandate renovation and reconstruction of ageing buildings, both residential and commercial. Also, building renovations following natural disasters such as the Japanese Earthquake and Thailand Floods in 2011, Hurricane Sandy in 2012 and tornadoes in early 2013 in the United States will continue to generate demand for plumbing products. Demand for plumbing products for replacements is especially high in the residential construction sector. Home kitchen remodeling projects typically involve installation of multiple sinks for convenient cooking and bathrooms. Also, growth in the average size of new homes offers increased space that can accommodate multiple showers, bathtubs and whirlpool baths for comfort and luxury thus benefiting demand for plumbing fixtures.
Title Index:
I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study
Plumbing Fittings
Bath & Shower Fittings
Lavatory Fittings
Kitchen and Other Sink Fittings
Other Plumbing Fittings
Plumbing Fixtures
Bath and Shower Fixtures
Lavatory Fixtures
Kitchen and Other Sink Fixtures
Other Plumbing Fixtures
II. EXECUTIVE SUMMARY
1. INDUSTRY OVERVIEW
Plumbing Fittings and Fixtures
A Prelude
Impact of 2007-2009 Economic Recession on Plumbing Fittings & Fixtures Markets in Retrospect
Global Market for Plumbing Fittings & Fixtures Posts Healthy Recovery in 2010
Natural Calamities Hurts Demand in Japanese Market in 2011
Global Market Once Again Tested in 2012 & 2013
Growth in the European Market Once Again Dragged into the Red Against Backdrop of Eurozone Crisis
Fresh Economic Uncertainty in US Challenges Recovery of Construction Activity in the Nation During 2012
Slowdown in Asia-Pacific Hurts Market Sentiments in 2012
Global Market Avoids Erosion in Revenue Despite Economic Challenges
Resurgence in Growth Fundamentals Delivers an Optimistic Market Outlook for 2014 & Beyond
Improvement in Global GDP to Spur the Demand
Positive Eurozone Economic Outlook Enthuses the Market
Fading Fiscal Cliff Concerns in the US to Spruce Up the Market
Current & Future Analysis
Developing Countries to Lend Traction to Global Market
Urbanization: A Key Growth Driver in Developing Countries
CIVETS to Replace BRICS as the Focal Point for Future Growth
Residential Sector Holds Greater Promise for Plumbing Products
Commercial, New Residential and Remodeling/Replacement (includes corresponding Graph/Chart)
Rising Commercial Real Estate Investments Extend New Opportunities
Americas, Asia-Pacific and EMEA (includes corresponding Graph/Chart)
Building Renovations & Remodeling
A Key Revenue Contributor
Growing Focus on Water Conservation Driving Demand
Quality Scores Over Aesthetics for Plumbing Products
Factors Shaping Consumer’s Choice: Rating on a Scale 1 10 (10 High Impact, 1 Low Impact)
Premium Products in Demand
Plastics Seek Greater Role in Plumbing
Plumbing Contractors Turn Efficient Consumer Cluster
Expensive, High-End Products Add to Plumbing Fixtures
Standard Fittings Gain Popularity
Domestic Manufacturers Maintain Dominance in Distribution & Supply
Online Marketplace
The New Distribution Vertical
Competitive Scenario
2. PRODUCT OVERVIEW
Plumbing
An Overview
Plumbing Fittings
Bath & Shower Fittings
Showerhead
Bathtub & Shower Combinations
Single Lever Controls
Anti-Scald Valves
Lavatory Fittings
Kitchen and Other Sink Fittings
Other Plumbing Fittings
Flush Valve
S Trap
P Trap
Sill Faucet
Drains/Overflow Fittings
Plumbing Fixtures
Bath and Shower Fixtures
Bathtub
Shower Stalls & Receptors
Whirlpool Bathtubs
Lavatory Fixtures
Urinals
Flush Tanks
Water Closets
Kitchen and Other Sink Fixtures
Lavatory Sink
Kitchen Sink
Other Plumbing Fixtures
Bidet
Drinking Water Fountain
Spas
3. PRODUCT INTRODUCTIONS/INNOVATIONS
Moen Unleashes IsoT Six-Function Handheld Shower
Delta Faucet Rolls Out New Bathroom Products
Moen Launches New Collection of Freestanding Tub-Filler Faucets
Moen Unveils New Kitchen and Bath Faucets with Microban® Antimicrobial Technology
Kohler Unveils Tailored Vanity Collection
Villeroy & Boch Launches New Washbasin Models
Ideal Standard Launches Tempo Ceramics and Bathing Products
Jacuzzi Brands Rolls Out ELARA® 7236 in Both Soaking and Air Bath Configurations
GROHE Introduces GROHE GranderaT Designer Collection in the US
Kohler Unveils Adair One-Piece Toilet
American Standard Unveils Prevoir Collection of Stainless Steel ADA-Compliant Kitchen Sinks
Kohler Unveils SensateT Touchless Kitchen Faucet
American Standard Launches Five New Bathroom Accessory Sets
Kohler Launches Artifacts Collection of Bathroom Products
Matco-Norca Unveils New Single- and Two-Handle Builder Light Lavatory Faucets
Bradley Launches the Advocate AV-Series Lavatory System
Speakman Company Launches New Shower & Bath Products
Signature Hardware Unveils Whittington Collection Sink Faucets and Tub Shower Sets
Expert Denver Plumbing Unveils Cost-Effective Kitchen and Bathroom Face-Lift Strategies
Ideal Standard Introduces Ideal Solutions for Hotels
Ideal Standard Rolls Out Concept Countertops Basin Range
4. RECENT INDUSTRY ACTIVITY
LIXIL Acquires 87.5% Stake in GROHE Group
TOTO Teams Up with WinWholesale
DecorPlanet.com Forms New Partnerships to Expand its Plumbing Products Portfolio
Southern Plumbing Expand its Commercial Services
Commercial Metals Divests Howell Metal to Mueller Copper Tube Products
Atkore International Takes Over Assets of Heritage Group
Patrick Industries Takes Over the Business and Certain Assets of Frontline and Premier Concepts
Dunes Point Capital Snaps Up The Professional Plumbing Group
American Standard Brands Signs New Distribution Agreement with Ferguson Enterprises
Paini Enters into Agreement with J. Keats
TOTO Joins Hands with Wolseley Canada
Ideal Standard and PTS Team Up
HIL to Commence cPVC and uPVC Plumbing Products Business
Aliaxis Takes Over Majority Stake in Ashirvad Pipes
Kludi Acquires Majority Stake in Kludirak India
Rexnord Acquires Assets of LWG Specialised Plumbing Products
Norma Group to Acquire Guyco
Spectrum Brands Holdings Acquires Stanley Black & Decker’s HHI Group
Sioux Chief Teams Up with Davenport Associates
QAI Laboratories and UL Team Up to Improve Plumbing Product Testing and Certifications
Astral Polytechnik to Set Up New Facility in Tamil Nadu
Delta Faucet Ventures into Indian Bathroom and Kitchen Fittings Market
H&R Johnson to Focus on Super-Premium bath Products
Jaquar to Establish New Facility
Toto to Develop New Production Facility in India
Mangalam Industries Commences Operations
5. FOCUS ON SELECT GLOBAL PLAYERS
Asahi Eito Co., Ltd. (Japan)
Cera Sanitaryware Ltd. (India)
Elkay Manufacturing Company (US)
Grohe AG (Germany)
Hindustan Sanitaryware & Industries Ltd. (India)
Ideal Standard (UK)
Armitage Shanks (UK)
Jacuzzi Inc. (US)
Jaquar and Company Pvt. Ltd. (India)
Kohler Co. (US)
LIXIL Corporation (Japan)
American Standard Brands (US)
MAAX Batch Inc. (Canada)
Masco Corporation (US)
Moen Incorporated (US)
Roca Sanitario S.A (Spain)
Roca UK (UK)
Roca Bathroom Products Pvt Ltd (India)
Sanitec Corp. (Finland)
Spectrum Brands Incorporated (US)
Toto Ltd. (Japan)
Villeroy & Boch (US)
6. GLOBAL MARKET PERSPECTIVE
III. MARKET
IV. COMPETITIVE LANDSCAPE
Total Companies Profiled: 274 (including Divisions/Subsidiaries 312)
The United States (44)
Canada (5) Japan (6)
Europe (204)
France (6)
Germany (34)
The United Kingdom (44)
Italy (52)
Spain (13)
Rest of Europe (55)
Asia-Pacific (Excluding Japan) (47)
Latin America (4)
Africa (2)