The ProSource Spring Summit in Nashville last week was an extremely buoyant and positive event as the custom integration industry’s largest buying group explained its focus for 2018. Dave Workman, ProSource President and CEO, cited 44 new members in 2017—with a goal of 40 more in 2018. Said Dave Workman, “Size in and of itself doesn’t matter. Size alone is no insurance policy to success. What’s different about ProSource is we are an aggregate of members who have built their businesses from the ground up. ProSource is a reflection of its hardworking membership.”
“2017 was an amazing year. The economy is in great shape and we feel like the consumer is ready to spend. The stock market is still doing well. Unemployment is very low and home prices are steadily rising. And all of these indicators tell us that 2018 should be another very good year for the consumer and for your businesses.”
Dave cited the following positive ProSource News going from 2017 into 2018:
** Record amounts of member rebates
** Membership over 560 strong and growing. ProSource has an extreme vetting process and are very selective on membership
** Focus on strong new memberships on the west coast
For category performance:
** Video overall TV up 14%
** Premium TV (over $1,500) up 34%
** Components up 23%
**Home speakers up 12%
** Custom installation up 13%
ProSource is anticipating “another great year” in the Premium TV category. Said Dave, “Big panels are critical to our position. A 75-inch TV is too large of a set for someone to put into the back of their F-150 and try to truck it home and then maneuver it into place. According to our vendor partners, there is a large amount of big panel televisions at the premium segment, and that’s where you live.”
Speaking of pushing into 2018, Dave went on to describe how today’s households have approximately 10 devices tied into the network, and in a few years, that number will be 50. Representing the tremendous opportunity in network security for the ProSource member for the foreseeable future.
Hagai Feiner of Access Networks moderated a riveting panel on cyber security: (l-r) Heather “Mo” Williams, Ruckus Wireless; Mike Maniscalco, ihiji; Kenny Kim, Snap AV; Sid Bose, attorney in Ice Millers Data Security and Privacy Group.
Another key growth initiative is the shading and lighting categories with the following members pushing forward: Coastal Source, ColorBeam, QMotion, Screen Innovations, and Vantage.
Said Dave, “We are willing, capable and excited to be focusing on new lighting and shading opportunities…there is unlimited potential.”
Business solutions were paramount during the Nashville Summit. Recurring Monthly Revenue has been discussed for years, but now, it’s clear that the industry is moving forward to solidify these recurring revenue streams. This also adds a foundation of extended services that keep the ProSource dealer on the mind of the homeowner. This chief ProSource initiative, featuring new vendors and programs, is set to improve productivity and generate recurring revenue from managed services through partnerships with Parasol and OneVision Resources.
Commented Dave, “ProSource added 13 new vendors in 2017, of which eight specialize in managed services and business productivity; a huge ongoing priority. Managed services are a real game changer and ProSource is two years ahead of any other group in this area.”
“When we decide on particular initiatives, such as managed services, we follow through on it. We have to make it work. I am very conscious of how we make this large organization as intimate and effective as we possibly can. We’re a team and that’s our strength. Ultimately that is our greatest strength.”
Chris Cruise of Crown Audio Video in Dallas, Texas fires questions during a roundtable discussion.
“We are living in changing times with so much opportunity ahead. The ProSource role in the industry is to demystify technology and make it work for the consumer. “