2023 BUSINESS FORECAST DISTRIBUTOR MEMBERS
CENTRAL
As it has the past two years, the Central region of the country accounted for the most survey results. And while the results in 2021 and 2022 were strikingly similar (8.37% growth in 2021 and 8.9% growth in 2022), this year sees a marked shift in optimism, with the Central Region being the least optimistic region surveyed, clocking in at 5.83% expected growth.
` Gary Halter, President INDIANA OXYGEN “The past three or four years, we have budgeted for single-digit growth, but we’ve been surprised each of those years by growing our business 10% or more,” says Indiana Oxygen President Gary Halter. “Based on past growth and a strong list of prospects, we are looking at 8% growth in 2023.” He continues, “The enormous rise in energy costs have led to very large cost increases from our gas suppliers. The economy and the health of our customers will obviously have an impact as well. Educating our customers about this situation, in hopes of passing this cost along, while preserving our trust and credibility with them, will be the number one challenge as we head into 2023. I don’t feel that our customer service will be at risk. Product supply with helium and CO2 is a concern as well.” He concludes, “Recently, a well-respected independent adjacent to our traditional market sold to one of the top majors. As luck would have it, those customers had been weened for decades on the ability to transact with the owners. When the owners jumped ship - the day they turned over the keys to the new owner - a surprising number of customers went looking for a new independent with which to do their gas business. We have started two new stores in their back yard to accommodate those customers.” As it has 62 • First Quarter 2023
always done, Indiana Oxygen will continue to expand its offerings to improve its value proposition, including its new equipment repair division.
` Eric Wood, COO O.E. MEYER CO. “Our customers’ needs to purchase capital equipment and welding and cutting automation will dictate the percentage growth in 2023,” says O.E. Meyer COO Eric Wood. “We are fortunate to have many large capital equipment projects quoted with our customers with high probability of closing in 2023.” The company has made significant investments toward improvements to its e-commerce platform, its website and SEO, which have helped drive business since COVID. In 2023, O.E. Meyer will purchase six acres to relocate and expand of its locations to a more desirable area that will not only improve customer experience, but also give its current future employees a better area to work in. Wood concludes, “We have made investments in infrastructure and with new employee owners to strengthen and expand into new markets and capitalize on opportunities and market share in markets already established.”
` Joe Winkle, Owner WELDSTAR Weldstar expects to see a 10% growth in 2023, even in the face of a possible recession, according to Owner Joe Winkle. He notes that, “We have embraced technology. We believe the labor market will be outpaced by output. Thus, we will need to fill that gap by being more productive. The only way to do that is through innovation and technology.” He continues, “The two disruptors, like most areas, are the supply chain disruptions and inflation. We believe that companies who planned for such an
