8 September 2023, 11:12
LECTURA is currently at the NordBau 2023 trade fair reporting on news from the world of construction machinery. Listen to our live report from the Start up Stage 2023, this time with Anders Terrs from Fabeo about the fair, industry trends and the company itself.
AJ: Mr. Terrs, what is your opinion on trade fairs as a StartUp company, do you prefer to meet your clients personally or virtually?
AT: I think since we are dealing with machines and quite expensive gear as well, I think it’s important to meet the customers, to talk to the customers and the customers can also ask their questions since one of the key words for us to work with is trust – where they can trust us, both when it comes to the knowledge base but also when it comes to payments and other stuff that is needed to be handled to be able to do transactions for machines. So, we like very much to do this, where we meet the customers, not only do an online thing. It’s important for us to be present and where the customers can see us.
AJ: Do you think that the machinery market is currently stagnating and if you do, what could possibly be the cause?
AT: So, if we look at the market now and what you hear from everywhere is, of course, that due to the financial and economy status for many of the businesses at the moment, they are struggling, also with the price increases that have come - especially if you have new machines. Since we work with used machines, we can see that the request for used machines is higher due to the fact that they have not the same impact on the prices, so when it comes to seeing if they are looking for machines, they look for used machines - and then of course within used machines you can find some that are more attractive than others. We can see that we work with many different areas, we work with construction, but we also work with agricultural machines, and we also work with trucks. We can see that - especially with agricultural machines – there is still a demand even if the crop have been quite poor in many areas, especially within Europe, due to the drought or the fact that is has been raining heavily. It’s hard to say that it’s black or white but used machines are interesting for many people – for the pricing but also for the fact that you can get them quite fast. Within that, certain machines could be for sure more interesting than others.
AJ: And how do you make sure that the sellers or buyers can be trusted?
AT: When it comes to the sellers, we meet all of them, we also want to see the machine. We are very picky and very thorough when it comes to the pictures we take, we also do interviews with the customers. Since within the company all of us have been working with machines for a long time - my background is with the agricultural machinery industry, then I have someone else within construction, someone else with trucks, we have forklifts, skylifts, whatever – and we also know that some questions need to be asked, we can look at the machine and see what shape it is in. You can also tell if a customer is maybe not telling everything and maybe you have to rephrase the questions. We do a lot of things to make sure we keep our promise to the buyers. When it comes to looking at the buyers it’s harder. The only thing that we check is that it’s a legit company, but then we don’t take any risk because we don’t move any machines until we have the payment fully in our account – and then we can release the machine, we don’t do anything before that. This is the only checkup we do on buying customers. Of course, the first time is always the hardest but when you have customers coming back, you have a relationship and then everything works much smoother. But when it comes to the selling customers we do more checkup – especially on the machines – so that we know what we are selling.
AJ: What would you like to achieve at the NordBau 2023?
AT: Since we are a fairly new company, I think that our main purpose here is just to show the brand, the name, what we’re doing. And then of course networking – talking to the dealers, maybe to some customers stopping by, talk in English. But the most important is to, as I’ve said, show the name, show the brand, tell them what we’re doing and also talk to network with the other guys here at the fair. That is the main purpose for us which I think has been achieved, the first two days at least.
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Source: LECTURA GmbH