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Clayton Retail GM Earns Big Bucks, Insider Insights for Manufactured Housing

February 18th, 2019 Comments off

 

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In states such as Colorado or Texas, one can find Clayton Homes owned manufactured home retail stores which achieve significant sales volume and/or higher earnings for their general managers (GM).

 

One such Clayton retail GM – per sources with the Knoxville, TN metro based firm – earns over a million dollars a year.

But that impressive achievement doesn’t mean that such earnings are common. They are not. 

It is akin, per sources, to the high stated earning potential of Clayton’s retail sales people. On paper, they can earn significant 6 figure incomes. An efficient retail sales professional working for Clayton can in theory push $200,000 per year.  More specifically, sums around $175,000 (+/-) are mentioned by recruiters and motivators for Clayton.  But in practice, that level of earning doesn’t occur on a routine basis.

Why?  The drop off rate of customers who sign an agreement to buy or apply, but later cancel, is significant according to insiders. That can in turn lead to frustration among Clayton’s retail sales staff. That can mean more turnover.

 

Looking Back, Looking Ahead

As the Daily Business News on MHProNews has previously reported, there are informed and connected sources that have stated their belief that if Clayton achieves a still higher level of manufactured housing market dominance than they already enjoy, that the firm will restructure the pay plan for their GMs. 

More recently, a Clayton retailer reminded MHProNews that after Chairman Warren Buffett led Berkshire Hathaway acquired Clayton Homes in 2003, they cut back on GM compensation. They were eventually forced to return to a higher pay plan, having lost too many seasoned veterans, according to inside sources.

The billionaires and brands which are using Buffett-style Moat tactics to dominate various industries have often paid some staffers relatively low pay. Amazon and Jeff Bezos have come under fire for that, but the world’s richest man is not alone.

Clayton absolutely has its share of loyalists. They have team members who will say or do what the company wants.

But based upon the kind of feedback and insights from several sources in recent weeks, there are reasons for the Knoxville-metro based operation to consider why their slowly squeezing strategic Moat may be backfiring. 

As Clayton is testing multiple million dollar automation systems in factories and in retail marketing and sales too, a Clayton team member who enjoys the manufactured housing industry must ask themselves. What is the trend line with Clayton? What are the past historical precedents?

To answer that question, see the related reports, which follow the byline, consulting and business development offers, and notices.  That’s this morning’s manufactured Home “Industry News,  Tips, and Views Pros Can Use” © where We Provide, You Decide.” © ## (News, analysis, and commentary.)

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Former Clayton Homes Team, Employees Speak Out – Mainstream Media, Trade Media Reports

 

Clayton Homes’ “Robots” – Automation’s Role in Warren Buffett’s Berkshire Hathaway’s “Durable Competitive Advantage” in Manufactured Housing

 

Clayton Homes Owned Sales Centers Reveal Surprising Trend

 

Blueprint Robotics Disruptive Aim at Modular Housing, and Factory-Building Technology

 

 

“What Are We, Chopped Liver?” MHI Member December 2018 Reactions

 

MHI CEO Dick Jennison’s Pledge – 500,000 New Manufactured Home Shipments

 

Positive, Uplifting Third-Party Reports Favor Modern Manufactured Housing, So What’s Going Wrong?

 

Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier

 

Billion Dollar Startup Modular Builder, Using Robotics, Could Soon Rival Clayton Homes’ Total Sales

 

Clayton Homes, Top 25 Manufactured Housing Industry Report, Trend Lines

 

Progressive “Nation” Reports on Monopolies Cites Buffett, Clayton, Others – MH Industry Impact?

 

 

 

 

 

 

Retail in the Digital Age, and Manufactured Housing

October 22nd, 2018 Comments off


RetailDigitalAgeManufacturedHousingDailyBusinessNewsMHProNews

You enter a large store for the first time. You stop, look around, turn, and walk the aisle to your right.  The odds on your doing just that were known and calculated in advance. 

 

Security video cameras are scanning everyone that comes through that front door. Those cameras are often doing more than watching out for possible shoplifting. 

RetailCamerasDigitalInformationDailyBusinessNEwsMHProNews

 

Head counts are made.

Traffic patterns within the store are noted. 

For sophisticated retailers that allocate the resources could deploy facial recognition, cellular detection, and an array of information could potentially be gathered, moment by moment. That gathered data can and is being analyzed.

Welcome to modern retailing.

Walmart, Target, or other larger chains know how many will go left, how many walk straight ahead, and how many go right. 

They use that information to better know where to set their signage or displays.  Focus groups can help the determine what lingo and/or images are more likely to grab the attention of which types of groups.

Their goal is simple. They want to separate you from as much of your money as possible. But they want to do so in ways that keeps you and yours coming back. 

 

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Black Friday will soon be upon us. It’s a science. “Door-buster” bargains gets you or people like yourself in their store. Once in, retailer data reflects that their odds of getting you or others back in their store during that same holiday shopping season just spiked.  

For that reason, a few ‘loss leaders‘ products per store is an investment to insure the return of the most customers.  The odds are all known in advance. 

Where is that level that blends the research, art, and the science of marketing and sales in manufactured housing?  

ICYMI, earlier this morning, we did this report. Please read it, because this is part two of a multiple part series on manufactured homes today.  See that in related reports, linked further below. “That’s News through the Lens of Manufactured Homes, and Factory-Built Housing,” © where “We Provide, You Decide.” ©   ## (News, analysis, and commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports:

Manufactured Home Communities Sold=Mega-Million$, SUN Settles Big Case, ‘Mobile Homes’ in the News

“The Creepy Line” Video DocuDrama, Manufactured Housing – The Problem, Solution, and You

 

Clayton Homes and 21st Mortgage’s Manufactured Housing “Spies”

Official Federal Housing and Construction Activity Report, Video

 

SCOTUS – High Court Tax Ruling, and Manufactured Home Industry Impact

June 21st, 2018 Comments off

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States can now force online retailers to collect sales tax, and that can impact millions of workers that are doing “brick and mortar” retail job that represent current or potential manufactured home buyers.

The high court ruling earlier today reverses a Supreme Court in 1992 ruling. That prior decision –  in Quill Corp. v. North Dakota, back when e-commerce made up a much less substantial portion of retail sales – kept states from collecting sales tax from online retailers where they have no physical presence.

 

The ruling – in South Dakota vs. Wayfair Inc. – means a state will be able to tax all online purchases made by its residents even for a transaction carried out beyond its borders. In some cases, such a change could raise prices for consumers shopping online,” said Fox Business.

E-commerce sales in the fourth quarter of 2017 increased to $119 billion, up more than 3% from the previous quarter and nearly 17% from a year earlier, according to U.S. Census Bureau data said Fox Business. “Online sales comprised more than 9% of total sales in the U.S.”

The Trump administration backed South Dakota in the case, by arguing that the high court could not have expected how rapidly e-commerce would expand when it made the 1992 ruling.

In light of internet retailers’ pervasive and continuous virtual presence in the states where their websites are accessible, the states have ample authority to require those retailers to collect state sales taxes owed by their customers,” U.S. Solicitor General Noel Francisco said in a friend-of-the-court (“amicus”) brief.

During an interview with FOX Business in April, National Economic Council Director Larry Kudlow said changing the law could level the playing field between traditional and e-commerce retailers.

There was a time when we wanted the United States, as a matter of policy, to protect nascent internet businesses by keeping down the tax burden, but that time is long gone,” Kudlow said.  Kudlow is a pro-growth economist, who served in the Reagan Administration.  He was recently hospitalized for a heart condition. Kudlow’s expected back at work, perhaps by next week.

The move is likely to protect jobs of brick and mortar retailers, which have increasingly been under pressure by online retailing companies.  In that way, it should continue to support the growth experienced under the Trump economic boom, which in turn should be good for manufactured home sales. ## (News, analysis, and commentary.)

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Related Reports:

America First, Economic Nationalism, Sycophancy, Presidents and Manufactured Housing’s Future

 

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Investors’ View of Manufactured Housing Industry Production & Retail – Cavco Industries (CVCO)

April 6th, 2018 Comments off

CavcoIndustriesInvestorsViewManufacturedHousingDailyBusinessNewsMHProNews

With the stock markets roiled by uncertainty sparked by political events, concerns over “a trade war” that’s been underway for decades, and a number of tech giants bruised over regulatory issues, smart money investors are in search of options.

 

FocusedTransformationGrowthCavcoIndustriesCVCOManufacturedHousingIndustryDailyBusinessNewsMHProNews

 

While many investment opportunities can be found, perhaps among the highest ranking contrarian investment strategies would be manufactured housing production, retail, and development.

 

CavcoSnapshotManufacturedHousingIndustryDailyBusinessNewsMHProNews1

There are those who question some of Warren Buffett’s politics and business practices, but one principle he’s proven for years is that buying and operating a good company allows the investor to control their own destiny, instead of riding a roller coaster with the sometimes turbulent markets. Buffett is a buy and hold guy, saying “our favorite holding period is forever.” on good operations in business sectors that he says are easy to understand. Buffett has bet billions on Manufactured Housing, and Cavco Chairman Joe Stegmayer hails from years at Berkshire Hathaway owned Clayton Homes.

 

A Brief Note on the MH Community Sector

Before diving into this report, there is certainly an ongoing interest in manufactured home communities as one of the more appealing sectors in commercial real estate. Loan performance on manufactured home communities – even during the so-called Great Recession – was better than most.

Sun Communities Annual Data and Manufactured Housing Industry Investor Presentation Highlights

 

But the competition for communities has grown quite intense. Portfolios pros tell MHProNews that they are still doing community deals, but the super-bargains are harder to find than 5 years ago.

That said, with the correct relationships, the community sector still has strong appeal. A snapshot of a publicly traded industry giant – Sun Communities (SUI) is linked above.

 

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Cavco supplies homes to land lease manufactured home communities, as well as others who retail or rent manufactured housing.

 

Snapshot of the Logic of Investing in Affordable Housing

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Manufactured Housing “Top Ten Truths”

Some other hidden gems of manufactured housing are summed up in the following report, and the brief but potent insights in the video that follows.

Two Great Laws Already on the Books NOW,  Can Unlock Billion$ Annually for Manufactured Housing Industry Businesse$, Investor$

 

 
MultiFamilyMultiStoryProjectsCavcoCVCOManufacturedModularPrefabHousingIndustryDailyBsuinessNewsMHProNews

 

Production, Retail and Development

Retailers, and some HUD Code manufactured home builders report they are supplying more homes going into various kinds of new developments.

CavcoCVCOCompanyHighlightsManufacturedHousingIndustryDailyBusinessNewsMHProNews

 

Among them are developments geared for rental housing. The returns on that, per sources to the Daily Business News, can be attractive. The cost of developing with manufactured homes can be lower and faster than conventional building of single or multifamily housing.

 

 

But perhaps the biggest gem hiding in plain sight is manufactured home production that’s tied to retail.

CVCOManufacturedHousingIndustryProfileManufacturedHousingIndustryDailyBusinessNewsMHProNews

There are several possible business models.  As a quick overview there are those HUD Code manufactured home builders which:

  • supply independents,
  • at least one builder that actively supports the establishment of new independent manufactured home retailers,
  • those producers whose operations are entirely vertical,
  • and those which include a mix of vertical and independent companies.

Clayton, Cavco and Champion – to their respective degrees – follow the latter pattern; selling to their own sales centers, as well as to independently owned dealers.

Skyline Corp, Champion Homebuilders Conference Call Presentation Facts, Figures, Forward-Looking Statements, Planned Merger Detail$

There seems to be an apparent variation between the data cited by Cavco, and that cited by Champion-Skyline during their conference call that discussed their pending merger.

ManufacturedHousingIndustryProfileAprox9MllionHouseholds22MillionAmericans9percentSingleFamilyHousingStock

Investor$, Manufactured Housing, and Proof of Concept

Cavco and Champion have each claimed to be larger than the other in market share. There are several possible explanations, but the Daily Business News merely notes that observation for now, and is taking no position at this time in that intra-MHI member data dispute.

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From Cavco’s (CVCO) Investor Relations Page

Cavco is a leading designer and builder of systems-built structures including manufactured homes, modular homes, commercial buildings, park model RVs, and vacation cabins. We operate 20 manufacturing facilities across the nation, which build some of the most widely recognized brand names in the industry: Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Fairmont Homes, Friendship Homes, Chariot Eagle and Lexington Homes. The company’s insurance group, Standard Casualty, offers a wide range of insurance products for manufactured home owners and its finance subsidiary, CountryPlace Mortgage, offers a variety of homebuyer financing options.

CavcoCVCOkitchenManufacturedHousingIndustryDailyBusinessNewsMHProNEws

As a corporation publicly traded on the NASDAQ Global Select Market (symbol CVCO), we have a commitment to our stockholders, our people, and our homebuyers to provide quality housing and exceptional service. In recognition of its innovation, customer service, and long term stability, Cavco Industries has been awarded the following accolades:

  • MHI Manufacturer of the Year, for seven consecutive years
  • Forbes Magazine 100 Best Managed Companies in the U.S.
  • Forbes Magazine America’s 100 Best Small Companies

CompellingMasterBedroomCavcoCVCOManufacturedHousingINdustryDailyBusinessNewsMHProNews

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We like some of the Skyline Champion and Sun Communities industry data presentation better than what Cavco provides, so the charts below are from information they’ve provided.

ManufacturedHomeShipmentTrendsPercentageNewHomeStartsSkylineChampionPowerPointMastheadBlogDailyBusinessNewsMHProNews

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The industry – and investors – have to ask and answer the question, if manufactured homes are such an amazing value, why isn’t the industry doing better? It’s a question that investors and newcomers put to MHProNews.  Part of the answer can be found in the report linked below, which spotlights the Urban Institute’s asking and responding to the same question.

Urban Institute Ask for Correction in Analysis of their Manufactured Housing Research, “Follow the Facts,” “Follow the Money”

Last and not least is this report that looks at why a new post-production association is needed in manufactured housing.  This provides several clues as to why the industry isn’t performing better today.

Study Recommending New Manufactured Housing Association for Independent Retailers, Communities, Lenders, Others Released

Finally, a bit of history also helps. The manufactured home industry was far more vibrant and diverse in days gone by.  Understanding the past – something that Warren Buffett strongly believes in, plus understanding the present – can provide powerful insights as to what is possible in the future.

“Move, Open, Live” De Rose Industries & Senator Thom Tillis’ Mobile Home Comments

Appealing Manufactured Housing Institute (MHI) Marketing, Finance Booklet Reviewed

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

Bloomberg, HousingWire, Realtor and Fox all suggest Manufactured Homes as Important Solution for Affordable Housing in America

The bottom line is that the right combination of capital committed to long-term thinking, that attracts a blend of industry veterans and new blood, and that is willing to buck the ruling oligarchy could dominate in manufactured housing.   “We Provide, You Decide.” ©  ## (News, analysis, and commentary.)

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

“Make MH Great Again” – Marty Lavin Exclusive

August 4th, 2017 Comments off

MakeMHGreatAgainMartyLavinManufacturedHousingIndustryCommentaryDailyBusinessNewsMHproNewsIt could prove to be one of the most controversial, witty, sarcastic, and challenging commentaries of the year about the state of the modestly growing manufactured housing industry.

The title MHI award-winning Marty Lavin has chosen isn’t “Make MH Great Again.” But that’s precisely what his unstated theme is.

Lavin looks at the facts.

He thoughtfully examines the industry’s “business model.”  Step by step, the actively retired veteran unpacks the present in light of the past that brought the industry to this stage.

The attorney and industry expert’s writings have long been of keen interest to investors, the GSEs, thousands of MH professionals, association leaders — and even the industry’s billionaires.

As his classic home in a posh Burlington neighborhood – and the fine three-level custom Italian vessel berthed in Miami reflect, Lavin’s years in the community, retail and finance sides of the manufactured home industry brought him significant success.

His points are not to be taken lightly.

FollowTheMoneyPayMoreAttentionToWhatPeopleDoThanWhatTheySayMartyLavin6MillionYachtManufacturedHousingIndustryDailyBusinessNews600

Lavin’s must-read views will be live on the MHProNews home page Sunday night, August 6, 2017.  His commentary will be joined by over 18 featured articles, including several other notable industry professionals.  Don’t miss it. ## (News, commentary, scheduling, announcements.)

Update: Marty’s article is live on the home page, at this link here.

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New Featured Articles Scheduled to Go-Live by 11 PM May 2

May 1st, 2015 Comments off

15-minutes-daily-feed-the-mind-improve-results-shutterstock-ipadcredit-daily-business-news-mhpronews-com-(3)Due to an extended Inside MH Road Show, the prior week at the MHI Congress and Expo, pending special announcements and other factors, the new Featured Articles (FAs) on MHProNews are scheduled to go live by approximately 11 PM May 2nd.

Until then, you’ll find recent articles on MHLivingNews.com, such as:

http://manufacturedhomelivingnews.com/tyson-blattner-purdue-university-grad-student-on-manufactured-home-living-inside-mh-video-interview/

http://manufacturedhomelivingnews.com/who-knows-manufactured-home-reality-the-best/

http://manufacturedhomelivingnews.com/olga-pecanac-olgas-place-westville-indiana-inside-mh-road-show-video-interview/

http://manufacturedhomelivingnews.com/take-another-manufactured-home-tour-inside-mh-road-show-model-video/

http://manufacturedhomelivingnews.com/evan-atkinson-walnut-model-home-tour-inside-mh-video-road-show/

During our recent road show, we captured over 40 video interviews, three manufacturers and multiple retailers and communities, plus dozens of MH home owners and community residents. These videos will help inform the public to better understand and appreciate our homes and industry, directly from those who know it best.

Since all leaders are readers, odds are good that you are or aspire to leadership in your organization and the MH Industry. Our team thanks you for your understanding and dedication to advancing the cause of manufactured housing. ##

(Graphic Credit: Shutterstock/MHProNews.com)

SearchCore’s Wisdom Homes of America announces Q3 2014 sales

October 10th, 2014 Comments off

searchcore-logo-parent--company-wisdom-homes-posted-daily-business-news-mhpronews-Wholly owned SearchCore Inc. subsidiary Wisdom Homes announced sales of $351,500 generated by the sale of manufactured homes in Q3 2014. This was a milestone quarter for the Company because it was our first quarter having our Tyler, Texas retail center fully operational. Inventory arrived in early August allowing us to close transactions and post sales in the second half of the quarter, said President of Wisdom Homes Of America, Mr. Brent Nelms.

“As our sales of manufactured homes increase, we are eager to receive our next shipment of inventory do to arrive in early November which will enable us to continue our growth in the coming months,” commented CEO, Jim Pakulis.

GlobeNewswire tells MHProNews that Tyler, Texas based SearchCore was founded in 2010, but as longtime readers know, the firm’s initial focus was internet based, as their name implies. Their manufactured housing retail operation results reflect a start up in the manufactured housing retail sector; but it should be noted that Nelms and his family have long ties in the factory built housing industry. SearchCore’s common stock trades on the OTCQB, under the ticker symbol “SRER.” ##

(Image credit: SearchCore logo)

 

Manufactured Housing Communities Grow in Mortgage-Backed Security Deals

November 11th, 2013 Comments off

Although traditional property types such as multifamily, office, industrial and retail continue to dominate the majority of collateral in commercial mortgage-backed security (CMBS), non-traditional properties are increasing. Specifically, as businesswire.com informs MHProNews, manufactured housing communities (MHC) are making up a larger part of the deals. Although this asset class accounted for less than one percent in 2010, it contributed 2.5 percent in 2011, 3.2 percent in 2012 and has grown to 5.9 percent through Sept. of this year.

(Photo credit: Sun Communities, Inc.)