First Gear: Lordco Trade Show Keeps Growing
There are many things in the world that truly amaze me. Technology is near the top of the list as it touches us in everything we do in life on a daily basis...including the vehicles we drive. The pace at which we live is also up there. If you compare it to the simple life of our youth most were accustomed to, it is no wonder we aren’t all in straight jackets! But two things I’ve recently been involved with really got me thinking.
The first is how property prices in B.C. have remained so strong when the rest of the country’s housing markets have taken a major hit coinciding with the global economic downturn. But what’s been going on in this province is hard to figure out. I’ve been in the B.C. real estate market for over twenty five years and for the most part, the prices have been somewhat predictable. After going through my recent experience, you would think that we were still in the frenzy of 2005 when houses were selling as fast you could put the sign in the ground. I guess with the combination of uncertain interest rates and the looming Harmonized Sales Tax (HST), the price/panic level remains at a crazy pace with no end in sight.
The second is the continued growth and strength of the parts giant, Lordco Auto Parts.
In a time of uncertainty and when most are desperately trying just to hang on, owner Ed Coates and his team continue to expand at a torrid pace. The past five years, Coates has been expanding his empire by what feels like the opening of a new location each month. Not quite the case, but at the current rate they are going at, one would think the location count of 91 will reach the century mark within a very short period of time. Part of this success stems from their annual trade show. I’m sure many of you reading this article attended the show at the Pacific Coliseum and were equally blown away by the size and scope of this event. Like SEMA, this industry show features aftermarket companies from around the globe, but it doesn’t have the guys flicking cards into your face at Hastings and Renfrew when you leave. In the eleven years we’ve displayed there, we handed out the most magazines ever over the two days, which either means we are getting more popular or the show continues to grow.
We like to think it’s a little of both!
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