Company History

PERSPECTIVE

It’s all a matter of perspective. Sometimes, how you look at something is the key to finding the right solution.

Consider a truck wedged in an overpass. One man suggests jacking up the overpass to allow the truck to pass through, while another recommends cutting off the top of the truck. However, a third man, one with an entirely different perspective, lets the air out of the truck’s tires so that it can proceed through the overpass easily.

Perspective is key in all walks of life. And it has been a huge factor in Stopol’s rise from a small business run out of the Kruschke Family basement to its current standing as a market leader and industry innovator.

HUMBLE BEGINNINGS

In the late 80's, Neil Kruschke Jr. was enjoying a highly successful career selling mainframe computers. He had risen from an entry-level salesman – one who only got hired after offering to work the first month for free – to part owner in just a couple years.

Then, an idea came to him. Why couldn’t some of the same selling techniques, tactics and methods that were so successful for him in the computer industry be used in the plastics industry?

At this time, his father, Neil Kruschke Sr., was involved in a business that imported nozzles used in the plastics industry from Sweden, and licensed and distributed them in the United States. Seeking a new challenge and seeing opportunities to expand his father’s business into the used equipment arena, Neil sold his share in the mainframe company and joined forces with Neil Sr. Neil’s younger brother Donnie, who had sold thermoforming machines and tooling for both Portage Casting and Mold Inc. and Hartland Thermoforming Co., came on board as well. The trio set up shop in their basement.

In the late summer of 1990, Neil Jr. approached his father with his idea. “Why don’t we use some of the same selling techniques I used to sell computers to sell plastics processing equipment?”

Neil Sr. initially balked at the idea. “You can’t sell machinery over the phone. You have to meet with the people. They have to see you.”

Shortly after this discussion, Neil Sr. embarked on a four-day business trip, leaving Neil Jr. and Donnie to mind the store in his absence. Not to be deterred by his earlier discussions with his father, Neil Jr. immediately went to work talking to those in the plastics industry who were either looking to buy or sell used equipment. Working the phones and using the sales methods and techniques that proved so successful for him in the past, Neil tapped into his network of contacts and began cultivating leads. Donnie joined his brother and in just a matter of days the pair had amassed a large number of strong sales leads for both buying and selling equipment.

EARLY SUCCESS

When Neil Sr. returned from his business trip, he saw that Neil Jr. and Donnie already had secured a substantial number of equipment sale leads in just four days.

Surprised by the results of their efforts but still somewhat skeptical, Neil Sr. decided to make a deal with his two sons. “If you can sell something, anything, in the next 30 days, I’ll fund it.”

With the clock ticking, Neil Jr. and Donnie hit the phones again. The weeks passed and the leads kept coming in, but no sales were made. Knowing they were close, the duo persisted, aggressively chasing down any lead or opportunity they could find. Soon, even Neil Sr. had gotten into the act of chasing down leads. The fourth and final week arrived and still no sale had been closed. But this would change soon.

On Day 28, Neil Jr. announced Stopol’s very first equipment sale. Four days later Donnie closed another deal. And shortly thereafter, Neil Jr. and Neil Sr. teamed up and sold a 10-by-26-foot thermoforming machine, the largest in the country at that time.

Those three sales, which netted the trio a profit of $36,000 in just over 30 days, were all the convincing the elder Kruschke needed. He immediately got to work establishing Stopol as a plastics industry equipment broker.

BRINGING LEGITIMACY TO EQUIPMENT DEALERS

In the early ‘90s, most dealers were regional and the term “equipment broker” carried a bit of negative stigma in the plastics industry. Stopol was about to change that.

After their initial three sales, the Kruschke Family first focused on setting Stopol up as a true national dealer. A national footprint not only greatly increased Stopol’s buying and selling opportunities, it provided them with a much greater prospective client base from which to choose. A national presence also was a huge benefit for and a highly attractive feature to clients.

The next step involved a conscious effort to focus more on the relationship than the individual sale. Neil Sr. had always taught his sons the value of personal interaction with clients, and Neil Jr. had been very successful selling in the computer industry primarily because of his ability to build relationships. Neil Jr. was certain this tact would work in the plastics industry. The philosophy is simple: Don’t just sell the individual machine, sell yourself and sell Stopol.

Neil Jr. believed that most equipment brokers were too focused on the short-term goal of the deal and failed to see the long-term benefits of cultivating a relationship:

  • Steady stream of information/data about that client and their contacts in the industry
  • Enhanced networking
  • Increased likelihood of repeat business
  • Perennial word-of-mouth advertising
  • Another data source to help Stopol keep its finger on the pulse of the industry
  • A legitimate sounding board in which to share ideas/innovations and obtain feedback.

By building relationships, Stopol received greater access to buying and selling information and market intelligence. The company used these tools to stay a step ahead of the competition and to take a proactive approach to servicing its customers and filling their needs.

The results?

Stopol evolved quickly, establishing itself as a different kind of equipment broker – one that was honest, delivered value-added services and looked at things differently. Again, Stopol’s perspective, integrity and approach were the characteristics that elevated the company’s standing in the industry and altered the perception of machine brokers.

LEGACY OF INNOVATION

When Stopol began its foray into selling plastics machinery, it was Neil Jr.’s vision and unique perspective that drove the company’s early successes. This trend would continue throughout the ‘90s and well into the next century.

Determined to showcase Stopol’s unique way of doing business and elevate the perception of equipment brokers, Neil Jr., aided by his brother Donnie, introduced a variety of innovations and business practices to the equipment broker scene.

While establishing Stopol on the national scene, Neil Jr. and Donnie took to obtaining video footage of the machines they were selling, replacing the unreliable and antiquated method of supplying prospective buyers with grainy Polaroid photos. Clients appreciated the substantial upgrade and were more likely to purchase a machine after observing it on video, operating in its standard environment.

From day one of Stopol, Neil Jr. kept meticulous notes of all his contacts and calls. These notes were the first steps taken in building the expansive database that Stopol maintains and updates to this day. The information contained within Stopol’s records has given the company an unrivaled source of market intelligence that is rich with possibilities and potential.

As the database grew, so did the ways in which Neil Sr. Neil Jr. and Donnie could use it. Early on, Neil Jr. introduced the broadcast fax to the plastics industry as a means of reaching customers and promoting deals quickly and efficiently.

The Kruschkes also used the database to help them expand Stopol’s roster of offerings and service.

Seeing a natural progression, Stopol entered the auction business and made a name for itself as the undisputed plastics industry leader in auctions, delivering a comprehensive offering of services using only the most knowledgeable professionals and the latest technologies. From on-site preparation to pre-event publicity, Stopol performed all the legwork needed to take the auction process from concept to completion.

Having the industry’s largest and most diverse inventory was important to Stopol. But how clients accessed that inventory was even more important. That’s why the company continues to offer a variety of auction options:

Live Auctions allow you to pursue the latest in processing machinery at cost-effective prices in an exciting and engaging environment.

Online Auctions permit you to view and participate in a Live Auction in real-time using the auction portal on www.stopol.com. The first of its kind in the industry.

Reserve Auctions enable you to bid online in an eBay style format.

But it isn’t just the types of auctions Stopol offers that separates it from the competition. It’s the way it attracts attendees from all over the world. Prior to every auction, Stopol launches an intensive and innovative promotion drive that includes an email, phone and fax marketing blitz focused on its infinite network of industry contacts, a highly targeted advertising campaign, unparalleled Web site exposure and media publicity.

In addition to entering the auction realm, Stopol began diversifying in a number of other ways. It added liquidation and appraisal services to its listing of offerings, and subsequently created Stopol Business Services, a separate division focused exclusively on mergers and acquisitions.

POISED FOR THE FUTURE

Results-oriented and client-driven, Stopol now excels in arranging the acquisition and sale of equipment, parts, businesses, divisions, product lines and manufacturing licenses in the plastics industry. Privately held, the company offers clients industry expertise and a number of services:

  • Equipment Sales
  • Auctions
  • Liquidation Services
  • Appraisal Services
  • Mergers and Acquisition Consulting
  • Financing

From humble beginnings in the Kruschke Family basement to a 15,000-square-foot headquarters in Solon, Ohio, nine warehouses in the United States and offices in Europe and the Pacific Rim, Stopol has continued to evolve as a company and industry force and this evolution is ongoing.

Not content to sit back passively and let the tide carry it along, Stopol has and always will dictate market direction and activity through its progressive approach and focus on relationships and innovation. Now, after nearly 15 years as a recognized market leader, Stopol is poised to deliver more advances and continually redefine itself and the value it brings to its clients by continuing to use its unique perspective.