Get a financial pre-approval before attending CMTS

Go to the show armed with a pre-approval from your chosen lending institution, even if you are only considering making a purchase.

The Canadian Manufacturing Technology Show (CMTS) is just around the corner, so I thought it would be relevant to discuss why visiting this show could be a very productive use of time and how to get the most out of the experience.

CMTS is the largest machine tool exhibition in Canada. It will be held September 25-28 at a new location this year, the Toronto Congress Centre. This is the first time in many years there has been a change in venue, and it is a very smart move. The Toronto Congress Centre is a newer building that is better equipped for this show in its current form, plus it will make for a much more intimate experience.

CMTS has distinguished itself as the best machine tool show in Canada from both a venue size and length-of-time standpoint. However, this does not mean it is overwhelming. The venue is very walkable.

The show will now be held in one very large hall, with booths big enough to hold several pieces of equipment and without being overwhelming like larger international exhibitions can be.

The equipment is strategically placed to showcase some of the newest technologies, which normally are available to be delivered as soon as the show ends.

Distributors and OEM Representatives

The exhibitors are, for the most part, local distributors along with support from the equipment manufacturers. The new venue will make it very easy to meet and spend time with all the principals and upper management from every significant seller of machinery in Canada.

This contrasts with larger, extremely busy international shows, where it can be challenging to find someone of significance to chat with. From a visitor’s perspective, this means that the people working the booth will be the principals of the local distributors along with their key people as well as some of the manufacturer’s smartest applications-orientated support staff.

In most cases, the machinery is manufactured in another part of the world, making it difficult for potential buyers to visit the factory. This makes CMTS a great opportunity for buyers to see the equipment and talk with its distributors and builders in person.

It is exposure to these types of people that makes the trip to CMTS worth the time for anyone interested in learning about, sourcing, and ultimately purchasing the newest technologies.

Many exhibitors allocate a significant amount of capital for this show. With such a large investment, there is enormous pressure for these exhibitors to sell product to justify the expense. This means the show offers a unique opportunity to negotiate a great deal or take advantage of a “show special.”

Get Pre-Approved First

I always tell my clients to go to the show armed with a pre-approval from their chosen lending institution, even if they are only considering making a purchase.

By doing so, they know that money is available to purchase a machine that is being exhibited at the show.

Equipment availability is one of the biggest challenges manufacturers face once they are finally in a position to add a machine to their shop floor. It could take months to receive a machine if it has to come from the factory. However, because equipment is brought in specifically for CMTS, there could be buying opportunities that literally cannot be found anywhere else.

CMTS also provides an excellent opportunity to interact in person, which doesn’t happen nearly as often as it should which in today’s post-COVID world of online meetings. I always look forward to visiting with people that I haven’t seen in a while, particularly if they are coming from either Quebec or Western Canada. I use CMTS as opportunity to catch up.

I have always found that sales, particularly in the manufacturing sector, are relationship based. It’s hard to understate the amount of loyalty and goodwill that can be found within this industry. Many of my best clients are ones who originally bought equipment from me when I was working as a machinery distributor many years ago.

Now, there is no question that to be successful you must represent good equipment, or, in my world, offer a competitive cost of funds. But all things being equal, if a meaningful relationship has been established, future business will be forthcoming. I have also found CMTS to be just as good an opportunity to lay the groundwork for new relationships as well.

Even in years when the market wasn’t great, I have always found CMTS to be a productive use of my time. In some instances, I met people at one show but didn’t do business with them until we met at a subsequent show years later.

Having spent many hours at this show, first as a seller and now as part of the leasing industry, what has become most noticeable over the years is that the people who attend do so with a specific purpose in mind. Manufacturers no longer attend just for the experience. That’s why it’s important to have a plan in place to take advantage of any opportunity that may arise.

Register for CMTS here.

Ken Hurwitz is vice-president of Equilease Corp., 416-499-2449, ken@equilease.com, www.equilease.com.