Session 3 Review

Tell me about your key vendors and suppliers.

So our main supplier for parts is Hendricks Industrial out of Cleveland. We've been working with them for about 15 years now. The pricing we get is based on volume commitments we made back in 2018. That relationship is mostly with their regional sales manager, a guy named Tom Calloway.

For raw materials — steel primarily — we go through Midwest Metal Supply. Lead times right now are about 6 weeks, which has been consistent for the past couple years since things stabilized after COVID. We keep about 8 weeks of inventory on hand as a buffer.

The one relationship a new owner absolutely needs to protect is with Calloway at Hendricks. We get pricing that's about 12% below their standard list because of our history. That's not guaranteed — it's relationship-based. New ownership might need to make a trip to Cleveland in the first month.

[Session continued for 24 more minutes. Full transcript available for download.]