Be prepared before attending CMTS

The Canadian Manufacturing Technology Show (CMTS) is just around the corner, and visiting this show definitely can be a productive use of time.

CMTS, the largest machine tool exhibition show in Canada, is held every two years in late September and early October at The International Centre, Mississauga, Ont. More than 9,000 attendees will visit the more than 700 sellers of machinery, equipment, and accessories from all over Canada.

While this show distinguishes itself as the largest show in Canada, it isn’t overwhelming. It is a very easy show to walk, and the venue was recently renovated. Although it is spread out over a few halls, they are all interconnected, and the booths are large enough to hold a number of machines.

Equipment is strategically placed to showcase some of the newest technologies, but some of the machines are available to be delivered as soon as the show ends.

The entire show can be covered in one day, but more importantly, it is easy to meet and spend time with all the principals and upper management for every significant seller of machinery in Canada. Larger international shows tend to be extremely busy, so having a conversation with anyone of significance can be a challenge, to say the least.

The exhibitors at CMTS are, for the most part, the local representatives, along with support staff from the manufacturers. From the perspective of a visitor, this means the people working the booth are the principals of the local distributors, along with their key people and some of the smartest applications support staff.

In many cases, the machinery is manufactured in another part of the world, so for most potential buyers, visiting the factory may not be time- or cost-effective. CMTS is an opportunity to meet representatives for the machinery. It is exposure to these types of people that makes the trip to CMTS worth the time for anyone interested in learning about and purchasing the newest technologies.

Many organizations spend hundreds of thousands of dollars on their booth, and with such a large investment, they are always under an enormous amount of pressure to sell product to justify the expense. Prospective buyers have a unique opportunity at the show to negotiate a great deal or take advantage of a CMTS show special.

Be prepared with a pre-approval

I tell my clients that if they are even considering making a purchase at the show, have a financial pre-approval in place before attending. This will allow them to know what type of money is available, along with what their monthly payment would be. Then it becomes a simple business decision whether to proceed with the purchase of a new piece of equipment.

One of the biggest problems that manufacturers have once they are finally in a position to add a machine tool to their shop is that the equipment they want isn’t readily available. In many cases, it may be months away if it has to come from the factory.

However, a show like CMTS, with its location being close to many machinery sellers, allows them to stock their booth lots of machinery for both demonstration and, more importantly, sales purposes, all of which can be loaded on trucks and delivered as soon as the show comes to an end.

CMTS also provides an excellent opportunity to network. Selling, particularly in manufacturing, typically is relationship-based.

There is no question that sellers have to represent good equipment, or, in my world, offer a competitive cost of funds, but at the end of the day, if a meaningful relationship has been established, future business will be forthcoming. But beyond that, I have also found CMTS to be just as good an opportunity to lay the groundwork for new relationships.

As I have spent many hours at this show, first as an equipment seller and the last six shows as part of the leasing industry, what has become most noticeable over the years is that many of the attendees have a specific purpose in mind when they show up. Most manufacturers will not attend just for the experience.

It is true the industry is its own little world, and if you have been in it long enough, you will run into some old friends, but it is very important to have a plan in place and be ready to take advantage of any opportunity that may arise. That’s why a pre-approval is important.

Ken Hurwitz is senior account manager, Blue Chip Leasing Corp., 416-614-5878, www.bluechipleasing.com.