Behind the Business: Banyan Electronics - ResidentialSystems.com

Behind the Business: Banyan Electronics

The new, Omaha, Nebraska-based manufacturer was founded on the premise that the custom install market was not being served properly by its vendors.
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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. Banyans 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 youre 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.

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