Brokers, Funders and a Shark Gather
at the 2024 Brokers Expo in NYC
By Don Cosenza, CLFP

 

Before the Instagram reel or the TikTok short, there was another promotional format on a much larger screen – the television.  Making its debut back in the 1980s, the “infomercial” touted everything from the Ginsu knife to ThighMaster.  Over the last forty years, more than 500 products made their way into our living rooms through the infomercial.  And these TV sales pitches made one marketing genius very, very wealthy.

Kevin Harrington, better known by many as the “original” shark on ABC’s wildly popular Shark Tank television series, created the infomercial, making himself and dozens of others multi-millionaires.  For those of us in attendance at the 2024 Brokers Expo in New York City’s The Glass House on November 6, we got to hear firsthand from the guru himself what it takes to be successful. He covered everything from the importance of personal branding to raising capital for your dream business.

Alexandra Gordon, DMCP, Event Producer,  Coterie Spark, explained, “Kevin’s presentation was not only amazing, but it was also relevant and beneficial for those at the conference.

“Kevin had everyone on the edge of their seats as his message provided a glimpse into the mind of a brilliant and self-made entrepreneur. We never had so many attendees make it a point to find a seat in the main hall to hear a keynote speaker.”

The Brokers Expo is operated by Coterie Spark, an events management and meeting planning company that has executed conferences and events in over 40 cities around the globe and in the cloud.  It is the first conference organized for the small business finance industry, by the small business finance industry. The meeting is an opportunity to engage with and learn from industry thought leaders and policymakers while networking with fellow brokers from across the country.

Ms. Gordon explained that this year’s event was a record-breaker all around. “Total attendance was north of 460. People showed up with a smile, ready to learn, network, and forge business alliances on a beautiful, warm and sunny day in New York City,” she said.

A one-day program, Brokers Expo provides the tools, strategies, and best practices necessary to compete in today’s rapidly changing business environment. This year, the agenda covered compliance and legislative updates, marketing and sales techniques, what makes a successful broker, and how to utilize artificial intelligence most effectively for business success.

Show sponsors ran the gamut, ranging from revenue-based financiers to MCA providers to working capital companies to banks. Brokers from the same channels were in attendance along with various service providers covering everything from management software to AI platforms.

For more information on how to participate in the next Brokers Expo, please contact Alexandra Gordon at 832-216-0174 or email agordon@coteriespark.com.  

Don Cosenza, CLFP
Marketing Consultant
dcosenza@usa.com

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New Hires/Promotions in the Leasing Business
and Related Industries

Nick Careno was hired as Director of Business Development, MMP Capital, Boston, Massachusetts. He is located in Greater Boston. Previously, he was Co-Founder and Vice President of Sales, Elite Capital (August 2020 - November, 2024); Specialty Healthcare Finance, Dext Capital  (December, 2021 - October, 2023); Vice President Sales, Ascentium Capital (January, 2019 - July, 2020).
https://www.linkedin.com/in/nick-careno-0a106010/

Brian Keller was hired as Senior Business Development Representative at M1 Financial, Marlton, New Jersey. Previously, he was Senior Account Manager, Vendor Finance, Canon Financial Services, Inc. (December, 2022 - October, 2024); Partner Success Manager, Structure Team Lead, PEAC Solutions (March, 2016 - December, 2022); Vice President, Relationship Manager, Citizens Bank (July, 2015 - March, 2016). He began his career at TD Bank, May, 1995, AVP/Store Manager, promoted VP/Small Business Relationship Manager (May, 1995 - July, 2015).
https://www.linkedin.com/in/bskeller/

Steven Umphlett was hired as Senior Managing Director, National Accounts, Commercial Credit Group, Charlotte, North Carolina. Previously, he was Managing Director, South End Consulting, Inc. (May, 2022 - November, 2024); National Director of Business Development US, Tandem Finance (October 2022 - May, 2023); Regional Business Director Commercial Equipment Finance, Arboretum Commercial Finance (July, 2020 - June, 2022).
https://www.linkedin.com/in/steven-umphlett-b497a594

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support

Define Your Capabilities
By Scott Wheeler, CLFP

Originators in the commercial equipment finance and leasing industry have seen many changes over the past twelve to eighteen months. Internal and external capabilities have been altered and all participants are in the process of redefining their current capabilities. Vendors and end-users can no longer assume that past capabilities still apply. Strong originators are working harder than ever to re-introduce their capabilities to current, past, and new relationships.

Changes creates voids in the market and opportunities for aggressive originators willing to put in the extra effort to properly explain their current capabilities. Vendors and end-users want the facts:

• What are your capabilities?
• What criteria do you require for an approval?
• What is your process to fund a transaction?
• Why do you deserve their business?

Every originator must be able to provide confident answers to all these questions. Originators must present themselves as knowledgeable professionals who know their current position within the market. Opportunities continue to expand for top originators who are fully engaged with their vendors and end-users.

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com 

Wheeler Business Consulting is working with individual originators and sales teams throughout the industry to ensure that they are well positioned in the market, capturing their fair share of business, and outperforming the competition. To schedule a one-on-one meeting contact Scott Wheeler at: scott@wheelerbusinessconsulting.com

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Commercial Finance/Leasing Finance
Conferences and Forums

NEFA Fall Conference Planning Committee:


Kirsten Dargy, LTi Technology Solutions – Chair


Kim King, CLFP, Odessa


Alyssa Lawrence, CLFP, Marshall Capital Group


Michelle Noyes, GreatAmerican Insurance Group

Nov. 11-14: NEFA Fall Conference, Indianapolis, Indiana
Special Registration for members and those who will come one by November 11th; Plus Speakers. And programs:
https://web.cvent.com/event/653f9e73-4bf5-4117-80de-c935474e7f72/summaryNational Equipment Finance Association (NEFA)Purpose and Membership https://www.nefassociation.org/membership/

Vicki Shimkus, CLFP, Balboa Capital, Broker Relationship Manager, will be covering the conference for Leasing News readers.

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Nov. 13-15 SFNet's 80th Annual Conference, Houston
Join us where industry movers, shakers and decision makers meet to accelerate growth - 
Full Info
https://www.sfnet.com/home/events/event-detail/2024/11/13/default-calendar/sfnets-80th-annual-convention

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To be listed or update: kitmenkin@leasingnews.org

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Top Ten Most Read by Readers
November 4 to November 8

(1) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Nov2024/11_06.htm#hires

(2) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Nov2024/11_08.htm#hires

(3) About Chapter 15 Bankruptcy that
13 Chesswood Limited Companies Face
https://leasingnews.org/archives/Nov2024/11_04.htm#about

(4) North Mill Equipment Finance Reaches Over
$73 Million in Funded Volume in October, 2024
https://leasingnews.org/archives/Nov2024/11_04.htm#nm

(5) Taycor Financial To Become The Vendor Division
Of North Mill Equipment Finance
https://leasingnews.org/archives/Nov2024/11_08.htm#taycor

(6) Funders Taking "New" Broker Business List
Five Do Not Require that Brokers Be Licensed
https://leasingnews.org/archives/Nov2024/11_08.htm#taking

(7) Story Credit Financing
Business Loans, SBA Loans, Working Capital
https://leasingnews.org/archives/Nov2024/11_06.htm#sc

(8) Trump, Republicans To Take Over in 2025
By Sean Murray, President, Chief Editor, deBanked
https://leasingnews.org/archives/Nov2024/11_08.htm#trump

(9) Trump’s White House Return Signals
Major Shift in EV Policy
By Matthew W. Daus, Esq.
https://leasingnews.org/archives/Nov2024/11_08.htm#trump2

(10) Top 10 trucking policies likely to be
affected by Trump’s return
https://www.freightwaves.com/news/top-10-trucking-policies-likely-to-be-affected-by-trumps-retur

 

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NFL Ticket Cost Inflation
Over the Last Decade

More than ever, attending an NFL game is becoming a luxury commodity.

In 2023 alone, average ticket prices jumped 8.6% to $120. Driving up costs are new stadiums, which are being built with fewer seats as luxury boxes and premium seats take up more space. The newly-built Allegiant Stadium, for instance, which hosted last year’s Super Bowl in Las Vegas, has 65,000 seats—one of the lowest in the league.

This graphic shows the rising cost of attending an NFL game, based on data from Team Marketing Report via FinanceBuzz.

Over the last decade, NFL game costs have risen by 39%, surpassing the rate of inflation.

The Las Vegas Raiders, with their new stadium and relocation, have experienced the most significant price hikes. Compared to 2013, attending a game is $103 more expensive. The Allegiant Stadium, costing a staggering $1.9 billion to build, is one of the most expensive in the world.

Meanwhile, attending a Cleveland Browns game is nearly double the cost compared to 2013.

The Kansas City Chiefs’ Super Bowl victories have contributed to higher ticket costs in particular, rising 103% over the past decade. On the resale market, Chiefs tickets were the second-highest in the league in 2023, with home tickets costing $468, on average.

In stark contrast, Dallas Cowboys game costs declined 1% compared to a decade ago. Despite being the world’s most valuable sports team, game costs remain fairly stable, at $160 in 2023 versus $162 in 2013. For context, the Cowboys had the highest game costs in 2013, while costs are slightly above the NFL average today.

Like the Cowboys, the New York Jets and New England Patriots have seen among the lowest price hikes overall.

News Briefs

Elon Musk Is Positioning X Behind
    the New Trump Presidency
https://www.nytimes.com/2024/11/09/technology/elon-musk-trump-x.html

Meet the 16 people in the $100 billion club
    — who are jointly worth more than Amazon or Google
https://finance.yahoo.com/news/meet-15-members-100-billion-203855987.html

Why Are Cities Still Spending Big
    on Convention Centers?
https://www.nytimes.com/2024/11/11/business/convention-centers-revival.html

In Chelsea, a new model for public housing
    opens its doors
https://www.bostonglobe.com/2024/11/08/business/chelsea-affordable-housing-apartments/

Many firms face ‘crisis’ as affirmative
    action programs fall
https://www.bostonglobe.com/2024/11/11/business/many-firms-face-crisis-affirmative-action-programs-fall/

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Trump Eyes Pro-crypto Candidates
for Key Federal Financial Agencies
https://www.washingtonpost.com/business/2024/11/11/trump-crypto-regulation-bitcoin/

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Sports Briefs---

Four teams beat the odds
    with improbable wins
https://www.bostonglobe.com/2024/11/11/sports/nfl-week-10-review-improbable-victories/

49ers fans are fed up with Tom Brady
San Francisco blunders
https://www.sfgate.com/49ers/article/tom-brady-bay-area-49ers-games-19904918.php                                                       

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California News Briefs---

Bay Area solar company Enphase Energy lays off'
  hundreds as industry's woes continue
https://www.sfgate.com/tech/article/enphase-energy-layoffs-workers-solar-19907535.php

Huge San Jose industrial and manufacturing complex gets  
construction fundsProject could create north San Jose jobs hub
https://www.mercurynews.com/2024/11/08/san-jose-property-build-real-estate-develop-economy-jobs-work-tech/

Ski traffic in Tahoe is already a nightmare.
    development could make it worse.
https://www.sfgate.com/renotahoe/article/ski-traffic-tahoe-nightmare-palisades-tahoe-cars-19893958.php

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Gimme that Wine

 

http://www.youtube.com/watch?v=EJnQoi8DSE8

King Family Vineyards: One of Virginia's
    Premium Wineries
https://www.winebusiness.com/wbm/article/293944

 Renowned California winemaker’s final act:
Resuscitating a scorned grape
https://www.sfchronicle.com/food/wine/article/greg-la-follette-marchelle-19790066.php

5 Holiday Buying Trends to Watch in 2024
https://daily.sevenfifty.com/5-holiday-buying-trends-to-watch-in-2024/

Trump deportation vow causes concern in Napa Valley;          
immigration advocates brace for impacts
https://abc7news.com/amp/post/trump-deportation-vow-causes-concern-napa-valley-immigration-advocates-brace-impacts/15528809/