The President’s Perspective: February 2025
Nick Bauer
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The past few years have been a whirlwind for our industry’s retailers, distributors, and manufacturers. COVID-driven demand sent sales through the roof, but that surge came with supply chain challenges and massive market swings. Now, we’re facing the other side of that boom: high costs, lower demand, and lots of uncertainty.
I never thought I’d say this, but I miss things being boring and steady. I love chasing growth and new opportunities, but after everything we’ve been through, I know I’m not alone in wanting some stability.
At the same time, the past few years haven’t been all bad. If nothing else, they’ve forced us to confront hard truths about our industry and our companies. When demand is high, inefficiencies get buried—but as things slow down, they become impossible to ignore. The COVID boom made it easy to overlook operational inefficiencies, rising costs, and fading urgency. But today, every sale counts, every expense matters, and every inefficiency hurts.
But today, every sale counts, every expense matters, and every inefficiency hurts.
So, where do we go from here? How can we keep our industry strong for years to come? To me, it comes down to running leaner, thinking ahead, and standing together to fight for our future.
Let’s start with leaner operations. When demand is high, inefficiencies get buried—but every expense stands out in a cooling market. Over the last few years, rising costs and unchecked spending have crept into many businesses, making it easy to lose a competitive edge. That’s no longer sustainable. Companies need to be lean, strategic, and relentless in fighting for every sale. That means scrutinizing expenses, staying disciplined, and adapting to the new reality—because waiting for things to “go back to normal” is risky at best.
And the reason it’s risky is simple: COVID was a high-water mark for our industry, and I don’t think we’ll ever reach that peak again. I hope I’m wrong, but we need to plan as if I’m right. That means asking some tough questions: Do we have too much manufacturing capacity? Do we have enough dealers and distributors to meet future demand? Will the next generation see a future in this industry, or will they look elsewhere for better opportunities? What other products can we sell that are growing year over year? Conversations around these questions may be uncomfortable, but temporary discomfort is far better than permanent decline. We can’t afford to sit back and wait for things to improve. Instead, we need to stay ahead of the curve by asking tough questions today and seeking new opportunities tomorrow.
Instead, we need to stay ahead of the curve by asking tough questions today and seeking new opportunities tomorrow.
Finally, and most importantly, we have to get more politically engaged. Recent elections have shown that consumers want the freedom to buy our products, but regulations could change that if we aren’t actively involved. If our industry isn’t engaged, others will make decisions for us. That’s why organizations like HPBA matter: They fight to protect our businesses, but they can’t do it alone. They need all of us to stand with them, and showing up at HPBExpo is one of the best ways to do that. This year’s event in New Orleans is an opportunity to connect, learn, and advocate for the future of our industry. If you’ve never been, now’s the time. If you’ve come in the past, this is the year to bring your team.
In the end, we all want stability again, but we can’t wait for the market to fix itself. Instead, we’ve got to run leaner companies, stay ahead of the curve, and stand together if we want to thrive. That’s why HPBExpo matters. It’s not just a trade show—it’s where we come together to connect, learn, and take action. If you care about the future of your business and this industry, be in New Orleans this year. Bring your team, show up for your business, and let’s build a stronger industry—together.
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Nick Bauer
Nick Bauer is the president of Empire Group, which includes amazing brands like Empire Comfort Systems, Stove Builders International, Montigo Fireplaces, Primo Ceramic Grills, and Broilmaster Gas Grills