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COVER
STORY
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Joe Tatulli |
The Glasser Group
A Unique Company,
A Unique Product,
A Unique Plan
By Joe Tatulli
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| Stuart Glasser
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Linda Glasser
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Dennis Moody
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I have this friend named Jeff. Jeff knows
cars. I can still remember the time we went to look at a used
pick-up truck that I was interested in. Jeff got in, started
it, looked under the hood, and crawled under the running vehicle.
He asked the owner a couple of questions, turned the motor off
and checked the oil. He then took a socket wrench out of his
pocket, pulled a plug and examined it. After the examination
we walked away from the owner and talked. Jeff said, "Offer
the guy two grand and don't go over twenty-two hundred. The
truck isn't worth more than that." The guy was asking $3000.
I bought the truck for $2100.
Jeff is now the manager of the "previously owned"
division of a very large, East Coast new car dealer. He doesn't
pull plugs anymore. His skills are legendary in the Southern
New England area and beyond. Jeff can intuitively determine
the wholesale and retail value of almost any used car that comes
through his lot. He is a natural. He is, "The Man"!
Stu Glasser is a natural too. He has the uncanny ability to
understand and make the deal. He can read the lay of the land,
he seems to be able to intuitively understand costs and pricing
from the factory to the retail floor, and he is a salesman's
salesman, able to pick a winner and make all the right moves.
The Glasser Group is his invention and it has been able to harness
the biggest and best horses in the trade.
I was born in the Bronx," said Stu Glasser. We spoke of
many things during my visit to Tampa, the city he now calls
home, along with his wife, best friend, and business partner
Linda. "I grew up in St. Albans, Queens. My dad and all
my uncles were in the glass business."
Glasser had just picked me up at the airport and it was time
for lunch. He asked me where I wanted to eat. I gave him my
typical answer, "Take me to your favorite lunch place,"
I said. Ten minutes later I was enjoying a corned beef ruben
at a deli, and if it hadn't been seventy-five degrees outside
with palm trees in the parking lot, I would have thought I was
in Manhattan. Glasser enjoyed a bowl of matzoh ball soup.
"I learned all about business from my father Sol,"
Glasser said. His dad was in the auto glass business. "My
father was an entrepreneur when being an entrepreneur wasn't
heard of," he said. His dad moved the family to Stratford,
Connecticut where Glasser grew up.
We left the restaurant and headed to the office. While we drove
he told me about his early days in the waterbed business.
"My first venture was a small shop in Hartford. It was
1969. I was young and aggressive, a typical entrepreneur, like
my dad. We carried leather goods, hand bags, moccasins, tie-dyed
t-shirts, books, incense, oils and underground comics."
The small store, similar in character to many early futon specialty
stores, even carried a small amount of furniture. "We even
had some furniture - bean bag chairs. But the most important
thing we had was marketing. This was the beginning of 'Progressive
Rock Radio' and we owned the air waves. I did over three quarters
of a million dollars out of 900 square feet my first year,"
Glasser said.
Things continued to go well and Glasser's success increased
by leaps and bounds. "Being an entrepreneur is not something
you learn. You are on a road and you move along that road. Along
the way things happen and you decide to go one way or the other.
I felt my way along and met with phenomenal success," he
said.
The Flotation Era
"Some friends of mine came back from a trip to California
with this thing they called a waterbed. It was a vinyl bag with
a valve to put the water in." Glasser told his friends
they were nuts but they convinced him to try it and he put a
few in his store. When he said okay Glasser had made one of
those decisions you make along the way, and it would be a life
changing one.
"All I can say is WOW! We were buying these bags for nineteen
dollars and selling them for a hundred bucks apiece. College
professors, students, the entire academic community were buying
these things. The seventies were the counter culture era and
this was the product of the seventies," said Glasser. "We
sold thousands and thousands of them."
It was during that time that Glasser met a frame manufacturer
who convinced him to build a box for the bag and also to put
a liner in the box. "He convinced me that these bags were
a time bomb waiting to explode. So we began to sell boards so
people could make the boxes for their waterbeds," Glasser
said.
Within a very short time, using the same marketing strategy
he had employed with his other store, Glasser carved out a dominant
market share in the Hartford area. He opened his own woodworking
plant and changed the name of his company from Neptune to Nimbus.
"In 1974 we took the company public. We were the first
in the waterbed industry to do that," said Glasser. The
Dow was at 400. The IPO had raised several million dollars and
Glasser opened a big factory and had eleven stores. "There
was a time back then when anything I touched turned to gold.
It was an incredible time," he said.
During the next few years Glasser's fortune had its ups and
downs. Like many of his peers in the waterbed business there
were boom years, and there were the regrets. Glasser's experience
ran the gamut from starry eyed wealth to losing it all. "My
experience during that time has seasoned me," said Glasser.
He told me he has always understood what it took to make money,
and now he understands what it takes to keep it.
A New Life
I was sitting in the Glasser's kitchen, it was early morning
of my second day in Tampa. Linda Glasser was making us breakfast.
Another day in the Glasser household had begun. Stu and Linda
work together in different segments of the same business.
"I met Stuart when I was brokering real estate. He was
looking for a place to live and I was moving houses, condos
and apartments. Stu asked me for a date. I said I didn't date
my clients, but Stu was persistent." She begins to whip
up some scrambled eggs and then pours me a cup of coffee. Stu
is in his home office making a few calls. "He called me
one day and said he wanted to take me out for dinner. I said
no. He called back about two minutes later and said 'How about
if we meet at the restaurant and we each buy our own food. No
obligations that way,' he said. He made me laugh. We went out
that night and we've been together ever since," she said.
That was six years ago.
Linda comes from a strong sales and marketing background as
well. It was a match made in heaven.
The Glasser Group
The Glasser Group works out of highly efficient offices in Tampa,
Florida. You may think you understand their business but like
most companies you should never judge the book by its cover.
To the untrained or uninformed eye the Glasser Group is simply
a manufacturer's representative. But Dennis Moody, Senior Vice
President and Glasser Group partner, told us 'the rest of the
story'.
"Most reps work with the retailers on behalf of the manufacturer,"
said Moody. "Here we offer a manufacturer much, much more.
In essence we develop detailed marketing and business plans
for many of our key vendors. In a lot of instances we are a
manufacturer's customer service department, their traffic department.
We are their marketing department and their sales department.
I have been in the home furnishings business for over twenty-five
years and I have never seen another company that fills the roles
like we do for manufacturer and retailer alike," Moody
said.
"We have some arrangements with some vendors that have
come about because of the unique nature of the skills we bring
to the table," Glasser said.
As we spoke both Glasser and Moody fielded phone calls regarding
some pressing shipping and product introduction issues.
"In the case of Monticello Oak," said Glasser, "We
got involved with their futon furniture program from day one,
and I mean day one. They came to us to set the whole program
up."
Glasser's biggest and most visible client, Gold Bond, had already
established itself when Glasser approached them for their business.
"Gold Bond owned a large portion of the Northeast's futon
mattress market when I made my proposal to them. Bobby was responsible
for introducing us to National Woodcraft/Tri-Gold, one of the
original manufacturers in the futon business. Today we've opened
an account in almost every state in the union. We handle the
business for Gold Bond outside the Northeast, including the
traffic and shipping all over the country. No other rep group
does what we do for our vendors and retailers," Glasser
said. He also credited his friend Bob Naboicheck with being
the single most positive influence, next to his wife, in his
success.
"Bobby is tough to please, very high standards," Glasser
noted, "but whenever we need him to come through he has
always been there for us and for every one of his retail customers
that we serve."
Speaking again about the arrangement with Monticello Oak Glasser
says, "We worked with them on the product line from bringing
in Pete (Dodge) to do the mechanism and getting Steve (Sanfillipo)
to do the designs."
"We put all the pieces together for them. We were even
involved with developing the finishes," said Moody.
"Dennis and I sat down and did a full two year sales plan
and marketing budget for them. We became a part of their future
by coming through with the vision necessary to get them into
the business in the first place," Glasser said. He added,
"We don't just act as the middle man. We become the eyes,
hands, feet, and voice of the manufacturer or vendor."
The Glasser Group not only helped Monticello move into the futon
frame manufacturing business, they guided them with the development
of products, collateral, POP materials, trade advertising and
public relations.
"We called in Bruce (Alexander) to handle all the ads and
PR and he has done a great job for us," said Moody.
"Island (Futon) is very similar," said Glasser, "In
terms of bringing Russ (Kramer) to the table and many other
aspects of the marketing and freight logistics and traffic.
We offer them so much more than just sales."
Russ Kramer, also of Tampa, is responsible for most of the images
associated with many of the Glasser Group's vendors.
The Logistics Business
One of the most unique and also one of the most complex aspects
of Glasser's business is the movement of product across the
country. His key vendors are not located in a single geographic
area, and his dealers are all over the place.
"Take Gold Bond for example," says Glasser, "We
do all the traffic for every unit that they ship outside of
the Northeast. The route plan for every truck that leaves the
dock in Hartford is generated right here in Tampa."
"Mary (Sloan) keeps track of everything out front on a
huge tracking board. We know where the product is and when it
will arrive," said Moody.
Approaching Retailers: The presentation is everything
One of the key things I learned as a marketing company executive,
looking to help my clients sell more of their products, was
that my clients would only let me help them convince their customers
how good they were to the same degree to which they were convinced
by my presentation to them. Bottom line: the presentation is
everything. Glasser had proved this time and time again during
his waterbed career.
"People judge you by how you look. When we do a presentation
to a major retail account we give them a book," said Moody.
Glasser pulled out a couple of spiral bound folders and handed
them to me. Each was a sample of a manual provided to retailers
for in-store sales training. One was titled "Gold Bond
Sales Management System," and the other said, "Mattress
Warehouse Futon Sales Manual".
"We tailor each one of these presentations to deal with
the specific issues relevant to the dealer and the mix of products
they have decided to carry in their stores," Glasser said.
One thing the Glasser Group does that is very different from
most traditional rep groups is sales training and the collateral
materials to back it up.
"I was a very successful retailer," Glasser said.
"I understand what they deal with and struggle with every
day. We are convinced that by equipping a retailer's sales force
with the critical information they need to sell this particular
kind of furniture, we are helping them to sell through more
product. We also, thereby, help our vendors, retailers, and
ourselves to a bigger piece of the pie."
"All our proposals and training materials are computerized,"
says Moody. "This allows us to tailor every manual, proposal,
and management tool to the retailer. Everything has their name
on it, and all the text is specific to each retailers program.
It's a step-by-step plan from qualifying the customer right
through to the close designed to maximize the sales potential
of the product mix they have chosen to purchase from us."
"Looking at it from the other side of the coin," Glasser
added, "We have been able to create a complete packaging
and image marketing plan for Island (Futon) that manufacturers
don't customarily generate on their own. We understand this
market and we bring that knowledge and expertise to bear for
our vendors and for our retailers," he said.
"Everybody makes out," said Moody. "When everyone
pulls together, from the manufacturer, to the retailer, to the
salesperson selling on the floor... It's then that the consumer
gets the best value, with fewer problems to deal with and then
everyone is happy."
Glasser Power
"Right now we have ten full-time reps on the road,"
said Glasser. "We've built an organization that allows
us to have a very powerful position in this market."
"The key to the thing is, with this many full-time people
on the road, focused on the futon category... when there is
a new product introduction we can be in front of the key (buying)
decision makers within days," added Moody, "No one
else can do that in this industry."
The partnership dynamic between Glasser and Moody is also another
key to their success. Each man brings a different set of skills
to the table, and their talents compliment each other.
"Dennis is able to put into writing the kind of real information...
the analysis, that the newer, larger retailers need to make
the decision to go into futon furniture," said Glasser.
"I'm the talker. I'm able to verbally explain and articulate
in a very clear conceptual way what it is we want to do."
"Stuart can focus a sales presentation better than anyone
else. He paints the picture and the customer is enthralled.
He makes an emotional connection," said Moody. "Then
I come in with the hard numbers and the analysis and it's a
one, two punch. We are highly tenacious, and we do it right,"
he said.
The Glasser Group, begun by Stuart and Linda Glasser, has been
around for six years and has managed in that short time to put
together a formula and a professional team of men and women
with a passion for their mission. That mission is to provide
a unique service to the home furnishings industry that incorporates
the best in customer service, freight handling, marketing tools,
and sales training all designed to enhance the overall experience
and success of their vendors, their retailers, and ultimately
the consumer.
I congratulate them on their success and wish the best as they
move into the future.
Glasser Group Keys
1. Only national sales force focused on futon furniture.
2. Carries a complete futon furniture assortment from some of
the top vendors in the business, who are able to ship large
quantities of quality goods in an on-time basis at the best
value possible.
3. Emphasis on unique product selling points, with success based
sales training, point-of-purchase materials, and retail ad programs
available.
4. Experienced office staff and team of seasoned sales professionals
with a track record of providing a complete service including:
marketing, market planning, budgeting, administration, logistics
and freight tracking, customer service representation, and the
automation and hard work ethic to back it all up.
5. True one-stop-shopping, where a retailer can make a single
phone call and take delivery of all the components necessary
for a simple program or a full scale futon furniture gallery.
6. Generation of detailed reports and manuals for each retailer,
with full color sales charts, margin analysis, price point analysis,
detailed floor plans, and statistical back-up materials.
7. Innovation in styles and finishes, elevating the category
to the next level.
"The relationships we have forged, and
continue to develop now, fully enable The Glasser Group to maximize
sales and profits for both the retailer and the manufacturer."
Stuart Glasser
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Alan Marshall, Glasser Group
Northern California and Pacific Northwest Regional Manager,
owned and merchandised his own retail stores for many
years and had a long career as a manufacturer's sales
representative before joining The Glasser Group. Alan's
distinctive English accent, credo of professionalism and
his positive attitude are his hallmarks. He enjoys swimming
and his 12 grandchildren. |
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Tim Brophy is Sales Representative
for the state of Florida, and is a former Air Force traffic
controller who presents Florida retailers with a complete
futon package from The Glasser Group. He is the father
of Shane, 9, and Kelsey, 8, enjoys fine cigars, fishing
and golf. |
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Ed Pyne, Regional Manager
for the mid-Atlantic region, successfully owned and operated
a flotation mattress factory that serviced national and
international retailers for 18 years. Ed is well known
throughout the home furnishings industry as one of the
country's top sales reps. |
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Chuck Gerson, southern California
sales representative, is a veteran retailer who owned
and operated a 10 store chain, The Bedroom, in San Diego.
A national triathlon competitor and father of three, he
was awarded Retailer of the Year and Outstanding Contributor
of the Year for his work in therapeutic research. |
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Donald, Jo Ellen and Scott
(shown left) Stuprich of Stuprich Sales, work Illinois,
Wisconsin, and national catalog accounts. They draw upon
over 40 years sales experience and emphasize that they
are a family business who firmly espouse servicing what
they sell. |
Others not shown here: |
Randy Cook, South Atlantic
Representative, has an extensive specialty retailing background
as a GM, sales manager, sales trainer, buyer, and has
worked in merchandising, advertising and promotions for
a 16 store chain. He has been awarded Salesman of the
Year, and Manager of The Year, by the President's Club.
Jim Klein is Sales Representative for the Upper Plains
region. |
"Here we offer a manufacturer much, much
more. In essence we develop detailed marketing and business
plans for many of our key vendors. In a lot of instances we
are a manufacturer's customer service department, their traffic
department."
Dennis Moody |
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