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Omaha, Nebraska-based Banyan Electronics (www.banyanelectronics.com)
is a new manufacturer, primarily of video display products, that was
founded on the premise that the custom install market was not being
served properly by its vendors. Before creating his company, president
Tony Buda believed that there was not an affordable solution to cater
to 90 percent of the customers that the CI channel serves. Buda
recently took a moment to answer our questions about how he created an
affordable, protected line solution that was suited for the CI industry.
“We offer a protected line to the CI marketplace at a price that allows the CI market to be competitive in all market segments.” TONY BUDA, President, Banyan Electronics
Your product
distribution seems to be radiating out into the Midwest from your Omaha
headquarters. How long before you have national coverage?
We are currently looking for nationwide account executives to set up
distribution of our protected dealer lines in all 50 states. We will
have coverage in all 50 states by CEDIA in September. Our company is
built on customer service, and we are willing to place as many support
personnel as necessary to ensure that our white-glove service model is
achieved.
Although
your first products seem to be video displays, it looks like you have
accessories and control products in the pipeline as well. How broad
does Banyan Electronics plan to go with its offerings?
Video is certainly at our core, but we also offer a full range of
mounts, remote controls, HDMI cables, and other accessories. We are,
however, wrapping technology into our video displays that will
revolutionize the way video displays are used. Banyan is introducing a
line of touchpanel plasma and LCD displays with embedded PCs. This
technology is the first of its kind and will have long-lasting effects
on how traditional video displays are used. Banyan’s touchpanel with
embedded PC will integrate everything from whole-home integration to
corporate boardrooms to kiosks. Banyan Electronics will be introducing
this technology at CEDIA EXPO, booth number 491.
Are you primarily OEMing the technology that you’re using or do you run a full manufacturing facility?
Banyan is currently manufacturing its products in Korea. In the future,
it is our plan to bring the manufacturing back to the States. Having
control over the manufacturing process is very important, as we are
able to control key design issues that our customers feel are important
in our sets. Banyan Electronics plans to hold a yearly user group, at
which our customers can discuss any technology that they would like to
see added or new design elements. It is our goal to continually refine
the product line and drive the latest technology.
What is your
value proposition to the custom installation channel? How are you
gaining new customers as a newcomer to the market?
Our value proposition is simple. We offer a protected line to the CI
marketplace at a price that allows the CI market to be competitive in
all market segments, not just the high-end 10 percent. The industry has
been missing an affordable protected line that is dedicated to the CI
marketplace. You will never find our products in a big-box store. In
addition we have set up nationwide, with on-premise service and
support. Our white-glove service policy is our biggest differentiator.
We want to remain on a personal level with all of our dealers. We will
set up distribution for logistical reasons, but there will be very
strict parameters detailing who can and cannot qualify for a dealership.
How would you describe the profile of your target dealer and how are you going about finding them?
Our target dealer has nothing to do with size or volume, it relates to
their core philosophies around their passion for service and support.
We are trying to grow our brand organically through word of mouth; we
want to earn the business over time. We feel that, in a matter of
years, we will be a staple vendor in the CI industry. Banyan
Electronics is able to provide a high-quality product, with great
service and support, at a reasonable price point. We feel adhering to
this mantra will enable us to be in the marketplace for a long time.
