What’s it take to grow your business by 60%?

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Tim Goddeau, Operations Manager, Micelli Chocolate Mold Co. talks about how the financing they received from Amur Equipment Finance helped to catapult their business by 60% in growth.

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Hi, my name’s Tim Goddeau and I’m the operations manager at Micelli Chocolate Mold. We are the only company in North America that makes industrial chocolate molds. Besides chocolate molds, we also produce display molds for the display industry. Any brand name you can imagine we’re the guys that make it.

I have a skill set where I come into companies and modernize them. I take companies from one level to another level and that was the opportunity I had here. Last year we had an opportunity to produce a large project for a domestic chocolate factory and we needed to finance some large equipment purchases for that project.

John from Amur Equipment Finance helped us get the funding quickly so we could move on the equipment, get it in place and manufacture the job to the time requirements of our customer. The financing that we received in the past year catapulted the business probably sixty percent in growth.

When anybody comes to me and asked me where they should be getting some financing, I think they should be talking to Amur.

What’s it take to be a full service provider to your customers

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Learn how Amur Equipment Finance has helped to understand the needs of DTM Packaging as well as the needs of their customers. Listen to Guy Tringale, Managing Partner of DTM Packaging discuss how partnering with Amur Equipment Finance has provided them the ability to be a full service provider to their customers, from bottling, to labeling, to complete solutions integration, to financing. DTM Packaging has become a simple one stop solution.

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Guy Tringle – DTM Packaging

At DTM Packaging, we built complete bottling and packaging lines. Everything from bottling and scrambling to filling to capping to labeling to complete systems integration for our customers. We work for the typical mom-and-pop type shop all the way up to some of the bigger multinational companies.

We met the folks from Amur here at this packaging show four years ago.  They came up to the booth, they asked if they could take, we said we would give them five minutes and we’ve been working with them ever since. But we do see a great value in having Amur working with us. We’re a full-service provider and we sell based on having the ability to provide the complete packaging line. Everything from the engineering services, to the equipment, to the installation. And the one piece we were missing was the ability provide financing. Working with Amur has allowed us to do that.

What I like about Amur, is that all I have to do is make a phone call and send them a copy of the quote and give them the customer’s name. You know, they work directly with the customer. It’s quick and it’s seamless and it allows our whole process of quotation to purchase order happen in a timely manner.

Technological Advances in Manufacturing

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Trends in Manufacturing 

Everyone has heard of the industrial revolution: the dawn of factories and workshops, and complete transformation of the global economy, unravelling from Great Britain across Europe and vast swathes of the world. However, the story of progress has been a continuous one, with the automobile and the computer both having profound impacts on the way goods have been manufactured and sold. Factories that rely on human hand, in often dangerous conditions, became automated by robots controlled by highly skilled operators, working in sanitized environments. 

Technological Advances of the Past Decade

Industrial revolution is a continuing process not a historical concept: many have described the last decade as a quiet 4th industrial revolution, with profound implications for small and medium businesses. Technologies such as 3D printing and the related concept of additive manufacturing have created opportunities for a very different type of manufacturing. Until this decade, the pinnacle of production has been defined by scale and homogeneity: massive production runs of identical products produced in “subtractive” processes (a raw material is machined, cast, cut away etc. etc.). The largest companies often forced out smaller competitors, leveraging the barriers to entry introduced by large upfront costs and huge economies of scale.

With additive manufacturing, the more “artisan” producer has the capability to rapidly re-tool production to flexibly meet the needs of the customer: moving from mass production to customized production. 3D printers tended to be used predominantly for rapid prototyping but have become increasingly popular for final use components, with the benefit of making rapid changes to the product without requiring expensive molding. Adjustments can be performed by re-programming a CAD design rather than requiring mass re-tooling. Machines can be purchased to provide this capability for a fraction of the cost, while avoiding raw material waste: an increasingly relevant concern as environmental awareness and regulation continues to grow. Robots themselves are becoming smaller and smarter, easily trainable on a variety of precision-based needs. 

Increasing Operational Efficiency

Manufacturers are also able to operate more efficiently through utilizing what has been coined the “Internet of Things” (IoT). Outdated Enterprise Resource Planning systems have made manufacturers flat-footed in responding to consumer demand, while data warehousing provides more predictive analytics and a far clearer view of production needs across complex supply chains. Meanwhile, factory equipment is interconnected. This means that devices act as sensors, providing live feedback about their own health and potential issues with the manufactured product. They are increasingly programmed to use this data to self-learn, taking production data and using that to refine the production process. This is of huge value, with this data helping manufacturers both identify production quality issues immediately to avoid producing defective items, while performing pre-emptive maintenance to minimize down-time and repair costs.

Quality in Manufacturing

From Amur’s perspective as a lender, we welcome these technologies as assets to manufacturers looking to provide an affordable and flexible service for their customers. The upfront cost of this business essential equipment can typically be financed to ensure affordability, with the value added by the new equipment to the manufacturing process repaying its cost many times over. The opportunities to bring back an artisan quality to manufacturing through rapid responsiveness to the customer provides natural comparative advantage to smaller manufacturers.    

Considerations for Buying Equipment | Equipment Funding Options

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Considerations for Making an Equipment Purchase

At AmurEF, we can finance new or used equipment, but there are many considerations that you must take into account before making an equipment purchase.

Buying Used Equipment

When buying used equipment from a dealer, we can finance titled or non-titled equipment. We can also finance titled equipment when you are buying it from a private party; however, we do not finance private party sales of non-titled equipment, as they can become quite complex to process. This is mainly due to the difficulty of finding out whether there are any pre-existing liens on that equipment (asset-specific or blanket) from another lender, which requires a lengthy and costly lien search. If the seller has other liens on the equipment, the prior lien holder can come knocking on our door demanding the equipment back.

Benefits of Used Equipment

Buying used equipment can have the same benefits as buying a used car; similarly, avoiding initial depreciation the minute the car is driven off the lot. Buying any equipment for your company is a significant investment and maximizing the use of your capital is always a smart business decision. Many customers can purchase several used pieces of equipment for the price of one new piece of equipment. For many young companies, this is an appropriate approach to help them receive all the equipment they need for their operations in a very cost-effective manner.

In general, well maintained used equipment holds its value when compared to new equipment. In some industries, older equipment is more advantageous as its engines or machinery may be easier to maintain lacking some of the newer computerized controls. For example, in the professional arborist industry a wood chipper will typically lose 20% of its value quickly and then 10% of its value every year after until the value starts to level off. A new $70,000 chipper may have a resale price of $50,000 two/three years later, but a used $45,000 chipper may still be worth $36,000 after the same period.

Benefits of New Equipment

New equipment does have several advantages. First impressions can make a huge impact in closing new business. A fleet of newer equipment can give customers confidence in your professionalism and help close business when compared to a competitor with trucks and equipment that are starting to show their age. Also, in some industries, there is an adage that old equipment is expensive equipment. You need to consider any potential downtime for unexpected repairs that may arise from owning older equipment with a questionable service history, as well as the availability of spare parts for older vintage units. The cost of this down time can make the decision to purchase newer equipment an easier one, especially if it means needing expensive rental equipment to replace the out of service items or just losing work due to equipment issues. Thus, always take your time working with the vendor or seller to understand the equipment’s history and condition.

New equipment can also make budgeting easier if there are service or warranty contracts that come with it. If you match the term of the lease or loan with the length of the warranty contract, it is easy to predict the cost of ownership over the term and avoid big repair bills later on, which can quickly erase your hard-earned profits.

The decision whether to get new or used equipment is an important one, and each situation is different. In general, however, new equipment will have higher upfront capital costs and lower long-term ownership costs; the opposite applies to used equipment. If you have any additional questions about AmurEF’s funding options for either new or used equipment, please don’t hesitate to call one of our representatives for help.

Micelli Chocolate Molding | Equipment Financing Success Story

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Valentine’s Day Chocolate Sales

Nothing says Happy Valentine’s Day like a heart-shaped box of chocolates, and as Valentine’s Day approaches, it becomes increasingly difficult to resist your sweet tooth. This time of year, stores stock their shelves with chocolate of every variety, enticing customers to purchase something sweet in red and pink packaging for their sweetheart. Whether you prefer a classic square of milk chocolate, round caramel filled-truffles, or a heart-shaped treat, there’s something for every taste and preference.

The association between chocolate and romance goes back as far as the Aztecs in the 15th century, and today, candy companies capitalize on that notion, with over 58 million pounds of chocolate sold on Valentine’s Day in 2018. This year, Valentine’s Day candy sales are expected to exceed $1.8 billion.

The Equipment Behind Custom Chocolate Molds

Manufacturing chocolate candy requires special molds produced by only a handful of companies, and Amur Equipment Finance is lucky to have worked with one of them. Micelli Chocolate Molds is the only industrial chocolate molds manufacturer in North America, working with large multinational brands to create custom molds for some of the confectionary treats you love.

Founded in 1946, Micelli Chocolate Molds has managed to remain at the top of its industry by consistently adapting to changes in technology. AmurEF has helped them acquire the equipment necessary to catapult the company to 60% growth within one year.                                            

Chocolate Manufacturing Success Story

Tim Goddeau, Micelli Operations Manager, has built his career on helping companies grow through modernization. When a large domestic chocolate manufacturer approached Micelli to produce a large order on a tight schedule, Tim knew the company required a new high-speed injection molding machine to meet the production speed and quantity requirements of this customer.

Tim immediately flew to China to inspect the required new molding machine, but after approving the purchase, Micelli needed to quickly secure financing. Time was of the essence. Micelli had to acquire the equipment, move it from China to the U.S. and begin manufacturing immediately. Recognizing the need for quick and smooth financing, the equipment manufacturer recommended that Tim contact John Bortle, an AmurEF National Account Manager.

Drawing on his years of extensive industry experience, John was able to structure the financing and ensure that Micelli could acquire the equipment needed to complete the large project on time. By relying on AmurEF for their financing needs, Micelli was able to move on the equipment, ship it to the US, and complete the job on time.

The Chocolate Industry Continues to Boom

AmurEF’s speedy service and knowledgeable staff were paramount to Micelli’s success, ensuring Micelli’s continued presence as a major provider in the chocolate industry.

This Valentine’s Day, as you savor your favorite chocolate candy, take a moment to observe its unique design.  Each drizzle, swirl, and engraving was thoughtfully molded to create an indulgent treat.