The foodservice equipment and supplies industry has experienced a significant amount of consolidation of late. In fact, during the month of June, FE&S reported on four dealers buying five different companies. Rapid consolidation like this can make one wonder: If this keeps going on, will there only be one equipment supplier standing? Read more...
Weekly roundup of news that's worthy of a second glance: Knapp-Track shows weak casual dining sales – again; decline in U.S. restaurants; restaurant redesigns pay off in higher sales; old automats reincarnated; and the Attempt to Revive Naugles.Read more...
Joe Schmitt has been the co-owner of Rapids Wholesale Equipment for almost 20 years. Rapids has a strong reputation among foodservice equipment and supplies dealers, as well as in the industry at large, for its relationship-oriented business model and strong focus on customer service. In addition to his time spent in the foodservice industry, Joe also has a solid financial industry background. A certified public accountant, he served as the vice president of Heartland Financial USA and was also a senior manager at Arthur Andersen & Company. Joe is an active member of the Foodservice Equipment Distributors Association (FEDA), serving on the board of directors for the past four years and being elected an officer last March.
Joe Schmitt: I enjoy spending time with my wife Geri when she can travel, and we really try to identify good restaurants that the locals enjoy.
Joe Schmitt: Seeing young people learn the industry and get excited about the potential to succeed.
Joe Schmitt: True Manufacturing. It’s a family-owned business that seems to have more pricing integrity than anyone in the industry.
Joe Schmitt: "Dishpig" — I worked in high school for a place known as Roberts Smorgasboard 40 Feet of Fine Food. Robert has gone on to become a very successful casino operator and we just completed a project for him in Northwest Iowa.
Joe Schmitt: Yes. I feel fortunate to have been able to have the freedom and responsibility of a small business owner.
Joe Schmitt: Educate yourself, get to know as many factory people and manufacturer reps as possible, and be a solution provider.
Click here to read part one of the interview with Joe Schmitt.
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