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REPORT: The Return of Funding Discipline triggered the ecosystem to Fight for Profitability to Survive

Finch Capital

In their 8th State of European FinTech report, Finch Capital takes a closer look at three core areas and provides an analysis of the sector with a forecast of trends that will likely emerge including: (1) Impact of Investment Environment on the State of European FinTech, (2) State of FinTech of key European Countries and (3) Thematic Trends we expect to see strong momentum next 12 months. Return of investment discipline triggers structural decline in funding, UK's share increases and the end of the mega rounds. The European FinTech sector has been heavily impacted by the new funding environment, with a total of €4.6Bn capital raised in the first half of 2023, down 70% from €15.3Bn in H1 2022. In 2021 and 2022, the top 20 funding rounds in Europe accounted for 50% of the market, they are now accounting for over 60% of total deal volume whilst having largely decreased in size. Across the investment ecosystem, the long tail of deals outside of the top 20 have been squeezed in total capital raised, and like any previous cycle corporate investors are retreating in the face of macroeconomic uncertainty. Seed rounds continued to attract funding, but companies in the Series A to C stages got squeezed the most. Sector wise, the biggest surprise has been in Payments, which traditionally has been a resilient category that saw record amounts of capital deployed in 2022, as investors took caution to the valuation inflation in the sector. Crypto has been the main benefactor as investors flocked to early stage businesses. Finch Capital’s report shows a drop of 70% in funding value across major markets such as the UK, Germany and France, although the share of the UK in the total funding accounted for 50% of the total capital raised in Europe, up from 45%. US based investors that were active in these markets have also taken a step back. For instance, in 2021, there were 3 US based firms in the top 5 investors in the UK, while in 2023, there were none. From a valuation perspective, public technology markets have retreated to 2019 levels after record growth in 2020-2021, but are showing some signs of stabilization. The private markets are undergoing a similar but slower transition to 2019 valuation levels. Later stage valuations have fallen much more dramatically having seen in some cases up to a 50% drop. The earlier stage in FinTech has been much more resilient, as valuations have remained relatively flat. There is hope for the ecosystem though, as valuations stabilized in the first 6 months of 2023 from their low in December 2022 These topics are good proxies for the overall health of European FinTech which, as Finch predicted last year, has now entered a period of contraction. Unsurprisingly, there will be losers, but like in every market cycle, there will be winners as well. Laser focus on building profitable businesses at sustainable valuations will drive economic value to all stakeholders in this next phase. Exit market remains resilient, except for larger transactions M&A activity was still only down 5%, showing an appetite to do deals at the right prices, however it showed a 84% decline in M&A transaction sizes. Public markets remained closed however, as valuations have bottomed out, and with inflation declining, 2024 could create new opportunities for Europe's highest valued companies to exit, as they are too big to be acquired. This is all against a backdrop of the M&A market seeing large outcomes decline considerably, with less than 19% of all deals valued over USD 500m and venture funding with ‘megarounds’ in particular having declined back to 2019 level. As companies fight for profitability most companies made lay-offs, except half of the European Unicorns, which are expected to start laying off in the second half The fight for profitability came into real focus in the past year as the industry suffered from more than 3,000 announced layoffs. Despite the backdrop described above, the sector is still hiring, with the 10 fastest growing Fintech companies having hired +1050 people in the past year (50% of employee base). Demonstrating a shift towards a less-well funded and more competitive landscape, some companies have decided to hire for cheaper junior positions and lay off senior sales people that have gotten too expensive over the last few years for today’s market conditions. Review of the key European countries showed that despite the slowdown, the UK markets’ maturity enables to continue to stand out Overall, the UK showed more resilience than some others and accounted for over 50% of the funding in Europe. Regions like the Nordics, Poland and France and Nordics held up through some bigger crypto funding rounds, but overall dependence on local early stage investors is prevalent. The lengthening of time to fund is also particularly felt in markets like Ireland, Poland and Nordics as investors refocus on core local markets with the bar for non-local investors rising to even higher levels than before. Sovereign Fund of Fund Investors like the British Business Bank, Enterprise Ireland, KfW, BPI continue to back funds in the local ecosystem that allowed capital to remain in the market. France for instance, had the largest equity deal of the year with Ledger raising over €400m. In general, countries with an active Series A-B investor base, such as the UK and France have seen valuations hold up with modest increases in post money valuations. The trend of a shift to software and B2B FinTech continues in 2023 The shift from consumer FinTech to B2B FinTech has been taking place over the last couple of years and now that trend is here to stay. Lending/balance sheet business in general have been affected, as cost of funding increases and loan portfolios worsen. The saving grace for some of the B2C FinTechs has been the increase in interest rates, which allows a healthy interest income revenue line to exist. As payment and open banking consolidate, regulation technology is driving increased enthusiasm in the B2B FinTech sector. KYC and AML are becoming complex and further tailwinds from government driven initiatives are resulting in renewed interest from investors. With the generative AI boom, retail banking and insurance seem to be prime candidates for adoption. Finally we expect the CFO to become even more important in an organization and the tools they use will only expand. Commenting on the findings Radboud Vlaar, Managing Partner at Finch Capital, said: “Since mid 2022 we have seen an increase in investment discipline in public and private markets, resulting in less funding, lay-offs, less IPOs, flight to quality and focus on capital efficiency. This will continue to be painful for the next 12 months, but will result in a more healthy and sustainable Start-up, Hiring and Investor ecosystem ” “ With investors bridging overvalued portfolio startups to bring them to profitability and struggling to find attractive exits in a grossly devalued market, we are likely to see a period of consolidation in the FinTech space as many verticals are highly fragmented, creating a smaller but more sustainable ecosystem. We should also start to see a slow recovery of the IPO market in the next semester as valuations have started to slowly pick up and inflation is declining ”. “ Last year’s shake up with valuations coming down, fundraising slowing down and the exit window closing up, was painful yet necessary. Consolidation and more competitive investment flows, combined with still significant levels of undeployed capital, will bring maturity to the FinTech sector. This new normal level of activity demonstrates the refocus of the FinTech ecosystem on long term sustainability versus short term gains " About Finch Capital Finch Capital is a Growth Investor in Europe’s Biggest Technology Transitions. We currently focus on 6 themes: FinTech (incl. Health and Insurance), Payments, Business Applications (Incl Accounting, Tax), Regulatory and ESG Software and Real Estate Technology. We back companies generating €2m+ in ARR by investing €5 to €15m initially and help them scale to €30m-€50m revenues by building sustainable and capital efficient business models. We have invested in ±45 companies including Fourthline, Goodlord, Grab, ZOPA, Twisto, AccountsIQ, Nomupay and Symmetrical. Finch Capital consists of a team of 12 investment professionals with wide entrepreneurial experience located across offices in Amsterdam, London and Dublin. For more information see www.finchcapital.com and subscribe to our newsletter. Contact Details Finch Capital Radboud Vlaar Radboud@finchcapital.com Finch Capital Aman Ghei aman@finchcapital.com Company Website https://www.finchcapital.com/

September 12, 2023 03:00 AM Eastern Daylight Time

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Marketplacer Helps FINN Give Refurbished Electronics A Second Life

Marketplacer

Marketplacer, a global technology platform that enables brands, retailers, suppliers, communities, and innovators to build and grow successful online marketplaces at scale, is proud to announce today that one of the most well-known brands in Norway - FINN - is experiencing record growth on its new Marketplacer-powered e-commerce site for used smartphones and accessories, FINN Nybrukt. Based in Oslo, Norway, FINN is the country’s largest online marketplace, allowing consumers to purchase anything from cars to houses to general merchandise. In February 2023, the company expanded these offerings with the launch of FINN Nybrukt, a new e-commerce marketplace for used smartphones and accessories, where buyers can choose from a variety of pre-owned, refurbished phones, and sellers can help their used phones find a second “life” and avoid the landfill, which is a key mission for FINN. Essentially functioning as a boot-strapping startup within the larger Schibsted family of brands, the team at FINN considered building an e-commerce platform on its own. Instead, the team decided that its business objectives would be better served by choosing a technology partner that it could collaborate with in order to meet its business objectives. FINN chose Marketplacer because the company’s fast, flexible and easily-scalable marketplace platform technology aligned perfectly with FINN’s accelerated time-to-market target. “FINN was already a household name in Norway, but what the team was looking to do with FINN Nybrukt was a new adventure,” said Marketplacer CEO and Co-Founder Jason Wyatt. “We have a deep understanding of the different needs and approaches start-ups have compared to their more established corporate counterparts. FINN knows how to sell almost anything and we know how to create the infrastructure to make it happen and how to make it happen fast.” Ultimately, FINN was able to launch its new Marketplacer-powered e-commerce platform in less than six months and the site continues to experience a tremendous uptick in interest over the first few months of operations. In fact, while July is traditionally a slow month for sales in Norway, FINN Nybrukt saw an all-time high in sales. “We are always looking for new business models for marketplaces and the demand for refurbished electronics is hot,” according to Emilie Høstmark, team lead for refurbished electronics at FINN/Schibsted’s Nordic Marketplaces division. “Since so many people have used electronics, giving them a simple way to re-circulate them not only makes economic sense, but also helps the environment by reducing e-waste. The partnership also enables us to scale and expand into other countries across the region which was a key consideration for us.” Following the success of its refurbished smartphones marketplace, FINN plans to expand into additional categories, including tablets, smartwatches and AirPods, with the potential to further expand into gaming equipment and more. The company is also looking to expand geographically, leveraging its sister marketplaces across the Nordic region. The FINN Nybrukt marketplace is live and interested sellers in the Nordics can find more information here. About Marketplacer Marketplacer is a global technology Software as a Service (SaaS) platform equipped with all the tools and functionality needed to build successful and scalable online marketplaces, at speed. To date, Marketplacer has helped build and deploy over 100 Marketplaces connecting over 13,000 businesses worldwide. The Marketplacer platform exists to make growth simple, from implementing marketplace strategies such as shipment from drop-ship sellers, adding new categories or third-party range extension, through to consolidating markets and rolling out modern revenue models such as recurring memberships that allow businesses to grow faster and beyond the constraints of capital inventory. Born and bred from the award-winning BikeExchange, the biggest online marketplace for anything and everything bike, founders Jason Wyatt and Sam Salter saw the opportunity to license the online software platform and apply it to new marketplaces. Marketplacer is responsible for the creation of online e-commerce solutions and business transformations of companies around the world. Visit www.marketplacer.com for more information. About FINN FINN.no is Norway's largest online marketplace with almost 500 employees and was founded in 2000. Ever since, FINN has gained enormous popularity among Norwegians, its reputation is one of Norway's strongest and almost every Norwegian has a relationship with FINN. Every year Norwegians spend an average of almost 33 hours on FINN.no. and more than 14 million ads are published. FINN has the #1 position in the markets they are in and connects millions of buyers and sellers. Whether it is to buy or sell products, looking for a house or a new job, browse cars or boats, or dreaming of the next holiday - FINN offers the opportunity to realize dreams and make sustainable choices. As part of Schibsted Nordic Marketplaces, which consists of strong, local marketplaces across the Nordics, FINN also has a cross-Nordic perspective and view. Contact Details Marketplacer Press Inquiries: Michael Herrera michael.herrera@marketplacer.com Company Website https://www.marketplacer.com/

September 12, 2023 12:00 AM Mountain Daylight Time

News Release

Terran Orbital hits major milestone with launch of Responsive Space Initiative

Terran Orbital

Terran Orbital CEO Marc Bell joined Steve Darling from Proactive to share news the company has announced the launch if its Responsive Space initiative, offering customers the ability to obtain satellite buses within 30 days and complete satellite systems with integrated payloads within 60 days. This program features seven new satellite buses and aims to standardize common components for quicker delivery and lower costs. Terran Orbital is focused on streamlining the satellite manufacturing process by designing and producing a significant portion of the components that go into a satellite bus. The company's goal is to provide flexible, high-quality, and reliable small satellites to a wide range of customers, including military, civil, and commercial clients, in a more cost-effective and timely manner. To support this initiative, Terran Orbital is constructing a new facility in Irvine, California, scheduled to become operational in the summer of 2024. This expansion will enhance the company's capabilities and capacity for satellite production. By offering rapid access to satellite technology, Terran Orbital aims to accelerate space-based innovation and support a wide range of applications, including Earth observation, communication, and scientific research. This initiative positions the company as a key player in the growing small satellite market. Contact Details na-editorial@proactiveinvestors.com +1 347-449-0879 na-editorial@proactiveinvestors.com

September 11, 2023 01:18 PM Eastern Daylight Time

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NAVEX Announces New London Hub Office Following Significant Growth in Europe

NAVEX Global

NAVEX, the leader in integrated risk and compliance management solutions, today announced significant international customer momentum and the expansion of its existing presence in London with new office space that will continue to serve as its European hub. This is a strategic move that succeeds the business’ growing footprint in Finland, the acquisition of WhistleB in Sweden, and the establishment of its Frankfurt data facility. NAVEX business in the EMEA region grew by more than 30% in the second quarter of this year alone. Customers turn to NAVEX for comprehensive internal reporting, third-party risk management, policy administration, employee training, and more. Demand for automated risk management has grown sharply in recent years as organisations face new and evolving regulatory requirements (like the EU Whistleblowing Directive, German Supply Chain Due Diligence Act, and Corporate Sustainability Due Diligence Directive), systemic risks, and heightened expectations from stakeholders. NAVEX has achieved robust growth in both revenue and number of customers throughout Europe since 2021. Its UK-based customers include market-leading brands such as Serco, Soneva, and Currys. Currys, a leading omnichannel retailer of technology products and services, selected NAVEX to help streamline its whistleblowing incident management and reporting processes. “The NAVEX One suite of ethics and compliance software solutions help us manage our risks, protect our business reputation, and create a better workplace,” commented Craig Hall, Senior Compliance Monitoring Manager at Currys. “Its solutions have enabled us to save time, align case management processes, and deep dive into whistleblowing reports.” Best-in-class support In a rolling customer survey NAVEX conducts each quarter, the company’s service and support received a best-in-class professional services satisfaction score of 98% among European customers. This level of service is seen across the board with implementation satisfaction and technician support scores averaging well above 90%. New London office The new London workspace, located in Hammersmith, will house NAVEX’s growing team of sales, marketing, and customer support professionals. The office will also serve as a hub for its European operations, providing customers throughout the region with access to local resources and service expertise. “This continued growth is driven by the everchanging work environment and customers’ increasing focus on doing the right thing by creating transparent, safe, and responsible workplaces,” said Florian Haarhaus, International General Manager at NAVEX. “Our commitment is to empower the European market. Helping everyone, from small and medium sized businesses to large enterprises, to protect themselves against risks and meet all regulatory requirements; while also building stronger organisational cultures.” NAVEX is trusted by thousands of customers worldwide to help them achieve the business outcomes that matter most. As the global leader in integrated risk and compliance management software and services, we deliver solutions through the NAVEX One platform, the industry’s most comprehensive governance, risk and compliance (GRC) information system. For more information, visit NAVEX.com and our blog. Follow us on Twitter and LinkedIn. Contact Details Anita Lo +44 7778 754858 anita.lo@navex.com Company Website https://www.navex.com

September 11, 2023 05:00 AM Eastern Daylight Time

News Release

C-Com Satellite Systems records bumper sales in August

C-Com Satellite Systems Inc

C-Com Satellite Systems Inc (TSX-V:CMI, OTCQB:CYSNF) CEO Leslie Klein speaks to Thomas Warner from Proactive after the satellite-based antenna systems company announced it sold more than US$3 million of equipment during August 2023. Klein starts by giving a brief overview of how the business has been performing over the last eighteen months, highlighting its successful reemergence from the COVID-19 pandemic and a ramp-up in sales since, particularly in their innovative Manpack product, which is portable and ideal for emergency and military applications. Klein emphasises that their products, although not currently built to military specifications, are gaining traction in the military market due to their user-friendliness and affordability. He notes that C-Com has a diverse product portfolio with 30 offerings catering to various satellite markets and highlights the company's impressive financial stability, with no debt and $25 million in working capital. He also suggests that C-Com is on the verge of revolutionising the satellite communication industry with the development of an electronic phased array antenna for communication on the move, opening doors to a potential $17 billion market. Klein will be presenting this groundbreaking technology at the Planet MicroCap conference in Vancouver on 6 September. Contact Details Proactive Investors +44 20 7989 0813 uk@proactiveinvestors.com

September 08, 2023 01:39 PM Eastern Daylight Time

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ARway.ai lands another major contract with academic institution in Turkey

ARway

ARway Corp CEO Evan Gappelberg joined Steve Darling from Proactive to unveil significant news as the company proudly introduced a fresh contract signed with Süleyman Demirel Üniversitesi, one of Turkey's largest academic institutions boasting an enrollment of approximately 70,000 students. Gappelberg elaborated on the contract, which is structured into two distinct phases. Phase one involves an initial investment of around $10,000, and phase two promises a substantial six-figure annual commitment. This announcement follows closely on the heels of ARway.ai's recent revelation regarding multi-year contracts secured with the largest car rental network in South America and a gradual implementation partnership with one of California's largest shopping malls. ARway Corp's demonstrated success in establishing partnerships with prominent organizations across diverse sectors underscores the company's sustained growth and the soaring demand for its innovative augmented reality (AR) solutions. With a strong presence in academia, transportation, and the retail sector, ARway Corp is strategically positioned to further expand its AR portfolio and bolster its foothold in the market. Contact Details Proactive Investors Canada +1 604-688-8158 na-editorial@proactiveinvestors.com

September 08, 2023 12:46 PM Eastern Daylight Time

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News Release

Trust Stamp announces company has been issued its 18th US patent

T Stamp Inc

Trust Stamp CTO Scott Francis joined Steve Darling from Proactive to share important patent-related news. The company has recently received a Notice of Issuance from the US Patent Office, along with a Notice of Allowance, for two patents titled "Systems and Processes for Lossy Biometric Representation." These patents represent a significant addition to Trust Stamp's intellectual property portfolio and mark the eighteenth and nineteenth patents issued to the company. In addition to these issued patents, Trust Stamp has twelve patent applications currently pending. The core focus of these patents is to expand Trust Stamp's technology related to the tokenization of biometric data. Tokenization is a process that converts sensitive data, such as biometric information, into a non-sensitive equivalent while retaining its original meaning and utility. This approach allows for secure storage and processing of biometric data without exposing it to unnecessary risks. Francis emphasized the growing awareness among regulators, consumers, and enterprises regarding the risks associated with AI decision-making tools and the storage of biometric images and templates. Trust Stamp's proprietary tokenization technology offers a solution that addresses these concerns. By utilizing tokenization, Trust Stamp can safeguard biometric data while extending its usefulness. This development is significant in the broader context of data security and privacy. With the increasing reliance on biometric data for various applications, including identity verification and authentication, ensuring the protection and responsible handling of this sensitive information is paramount. Trust Stamp's ongoing work in biometric tokenization aligns with the evolving landscape of data protection and privacy regulations, providing a safer and more secure approach to managing biometric data. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com

September 08, 2023 12:36 PM Eastern Daylight Time

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Tradeweb to Participate in Rosenblatt’s 16th Annual Global Exchange Leader Conference

Tradeweb

Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it will participate in Rosenblatt’s 16 th Annual Global Exchange Leader Conference on Thursday, September 21, 2023. Tradeweb CEO Billy Hult is scheduled to participate in a fireside chat at 2:40 PM EDT on Thursday, September 21, 2023. A live webcast of the session will be available at https://investors.tradeweb.com/events-and-presentations. A replay will be accessible at the same site for approximately 180 days following the conclusion of the event. Tradeweb is also scheduled to participate in the Barclays Global Financial Services Conference on Tuesday, September 12, 2023 and the UBS 2023 FinTech Leaders Conference on Thursday, September 14, 2023. About Tradeweb Markets Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 65 countries. On average, Tradeweb facilitated more than $1.2 trillion in notional value traded per day over the past four quarters. For more information, please go to www.tradeweb.com. Forward-Looking Statements This release contains forward-looking statements within the meaning of the federal securities laws. Statements related to, among other things, our outlook and future performance, the industry and markets in which we operate, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions and future events are forward-looking statements. We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors, including those discussed under the heading “Risk Factors” in documents of Tradeweb Markets Inc. on file with or furnished to the SEC, may cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained in this release are not guarantees of future performance and our actual results of operations, financial condition or liquidity, and the development of the industry and markets in which we operate, may differ materially from the forward-looking statements contained in this release. In addition, even if our results of operations, financial condition or liquidity, and events in the industry and markets in which we operate, are consistent with the forward-looking statements contained in this release, they may not be predictive of results or developments in future periods. Any forward-looking statement that we make in this release speaks only as of the date of such statement. Except as required by law, we do not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this release. Contact Details Tradeweb Media Contact Daniel Noonan +1 646-767-4677 Daniel.Noonan@Tradeweb.com Tradeweb Investor Contact Ashley Serrao +1 646-430-6027 Ashley.Serrao@Tradeweb.com Tradeweb Investor Contact Sameer Murukutla +1 646-767-4864 Sameer.Murukutla@Tradeweb.com Company Website http://www.tradeweb.com

September 08, 2023 11:22 AM Eastern Daylight Time

Minuteman Press Franchise Owner Mark Barnes Shares Keys to Tripling Sales & Growing Into Million-Dollar Business in Bakersfield, CA

Minuteman Press International Inc.

In the three and a half years since Mark Barnes purchased the Minuteman Press franchise in Bakersfield, CA located at 4500 Easton Drive, he has more than tripled his sales. Mark shares, “Before the acquisition in December of 2019, the prior year’s sales totaled just under $500,000. Our current 12-month sales (as of August of 2023) is just over $1.75 million.” In 2023, Mark became one of the newest members of the Minuteman Press International President’s Club for top performers (based on 2022 yearly sales). Mark shares his keys to growing the business as well as his journey to Minuteman Press in Bakersfield. He also gives his thoughts on the printing industry today, what it’s like owning a business in Bakersfield, the ongoing franchise support he’s received from Minuteman Press, and more. What does it mean to you to be a member of the Minuteman Press President’s Club? Mark Barnes: “Making the President’s Club has always been a goal from the very beginning! We knew it wouldn’t be easy and it would take a lot of hard work and a little time, but we knew with the right team, and the right approach, it was only a matter of time before we got it. 3 years in, and we made it!” What are the 3 biggest keys to your sales growth and success? Mark Barnes: “Our sales growth success has been through a variety of factors. I feel like we have taken an ‘all of the above’ approach. We incrementally increased our ad spend, and tested and adjusted as necessary We took a focused approach on our networking opportunities We added product lines and revenue streams to our offering mix, and we have looked for strategic partnerships that made sense We were already doing wholesale print for what you might consider our competitors, but we are equipped and positioned to do more, better, with our facility and equipment mix, so when we realized there was some untapped potential to expand on that, we actively pursued those opportunities as well. If we don’t get the account directly, due to, perhaps, a relationship, we will look to get them indirectly through wholesaling to our competition that can’t offer what we can.” What are your high-demand products and key growth areas? Mark Barnes: “We have many high-demand products and services. Our high growth areas have been direct mail marketing and compliance mailings, programs for events, signs, branded apparel, and “operational” things like blueprints. Promotional items have also played a large role.” Why do you think printing remains so vital to businesses today? Mark Barnes: “Print remains vital because it drives behavior. Think about your daily life, do you stand in the wine aisle and judge a wine by its label when looking for a decent wine? Imagine if all of those labels were blank and you just had rows of bottles, how would you ‘know’ what to choose? You wouldn’t. If this is you, you are relying on print to drive your behavior. Maybe you casually look at a speed limit sign to adjust your driving speed, those are printed folks, and you have just relied on print to change your behavior in that moment. Print is ubiquitous and has been around all of us our entire lives; for that reason, print has an inherent trust built in because we rely on it day in and day out, and we don’t even realize it. I have had people ask me if print was dying and I asked, ‘Why because the credit card companies want you to go ‘green’ by paying your bills online?’ They certainly do this, but they turn around and send you all of these offers for new credit cards via direct mail, because they know direct mail works to drive revenues and new acquisitions. Need more proof that print is here to stay? Just ask the savvy marketers that rely on us for their campaigns, and even their clients’ campaigns. Spend a day in our office and you will see how high emotions can run when a marketer has waited until the last minute for something, or when blueprints are needed to submit plans by a deadline, and then ask yourself why these people bring us food and snacks as a way of saying thank you. How many businesses have their clients bringing them food? Print is vital – and everyone from marketers to admins that need to make sure they have the things they need for their team – understands this.” How would you best describe your business community in Bakersfield? Mark Barnes: “I would put our business community up against any in the nation. We have a robust and growing business community in both our local Bakersfield area and our county as a whole. In fact, this entire region is that way. The San Joaquin Valley where we are located feeds the world when it comes to many fruits and vegetables and nuts. The scale of the reach of businesses here blows my mind. Maybe more importantly, our business community is active and involved, supports one another, and I am honored to have developed personal relationships with so many of the business owners and leaders here. Many have become friends, and even mentors (whether they realize it or not).” What was your previous background and why did you choose Minuteman Press? Mark Barnes: “I was in the corporate world in the oil and gas industry for nearly 15 years. Prior to acquiring Minuteman Press, I was the Regional Manager for an oil and gas manufacturer and supplier of key products for the industry. I was tasked with leading a turnaround effort in that role where the company was looking to regain market share. I earned the trust of the tenured staff, got some wins early, and then we added a completely new product line that I had background with from a previous career. After getting market share with that product line, we then identified other locations to expand. We opened a new location a few hours away, secured the business we were going after there, and began due diligence on the next location. I was traveling back and forth to our manufacturing facility in Texas and learned a ton about manufacturing processes in general, being lean, and I felt like there was a lot of overlap with Minuteman Press. Minuteman Press is a manufacturer and I felt like there were a lot of similarities – the processes, the tenured staff in place, the reputation and book of business in place, and I felt like Minuteman Press was simply producing ‘a different widget’ and that the transition would be relatively smooth as a result. Of course, we didn’t account for a global pandemic three months after taking over, supply chain issues, employee shortages, and those things. With that said, because of my corporate experience and with the support of Minuteman Press, we were well-equipped to manage through these challenges when they did come up. As you can see, we managed through them relatively successfully. We continue to learn and improve as we go. That’s what it’s all about, continuous improvement.” What has the franchise support from Minuteman Press been like for you? Mark Barnes: “The support from Minuteman Press has been great. Obviously, something like the pandemic presented many challenges for all businesses, but being new in business for myself, the support we received was critical. They rolled out new programs; they provided marketing support and operational support when we needed it; and my favorite part has been the best practice training we continue to get regionally. Every 3-6 months, we have the 54 owners in my region get together and exchange best practices on just about everything from marketing, operations, product/service mix, staffing, accounting, etc. This has been vital as the different owners have their own experiences and insights that we get to learn from. They are also at different locations in the region so we get to see how they have their operation set up and it just goes a long way with exposure to new ideas or confirming what we are already doing. The President’s Club meeting was also important because those owners were top performers and the advice and conversations there, along with the new relationships established, have elevated us even further.” What are the biggest personal and professional rewards of owning your business? Mark Barnes: “The biggest personal reward of owning my own business is simply fulfilling the long-standing desire to own my own business. I’ve always been entrepreneurial and I feel so good every single day that I am in control of my own destiny. I love that I’m able to help provide for staff that can then provide for their families, and that we are able to help our business partners provide for their families (because at the end of the day we are helping businesses grow or become more efficient, and that improves their own lives by extension). Even when things are hard or stressful, that feeling overrides all of that for me, and I feel lucky. Professionally, I’m just proud to have developed great new friendships and mentorships in the business community here. I’ve been able to give back in various ways; I’m on the board of a non-profit, I’m on the board of the Bakersfield Rotary, and these have led to wonderful opportunities to give back but also to learn from such strong and high level leaders; I’m just very fortunate.” What are 1 or 2 key pieces of advice would you give to other owners? Mark Barnes: “My biggest piece of advice for other Minuteman Press owners is to think big. We look at ourselves as commercial printers, marketers and designers. We are not a quick copy model; we are a commercial level organization helping other organizations achieve their business goals by being a trusted and valued partner of theirs. We look to align ourselves with organizations as partners – the Robin to their Batman – supporting them from recruiting employees and marketing their value propositions in the marketplace to supporting their operations internally with critical items used in the day-to-day operation of the enterprise. We don’t need the limelight; we just aim to add value to the full life cycle of a given day in their operation. As our clients succeed, we will succeed… so we have a vested interest in their success and making sure we are acting as a good partner in every way we can.” Minuteman Press in Bakersfield is located at 4500 Easton Drive, Bakersfield, CA 93309. For more information, visit their website: https://minuteman.com/us/locations/ca/bakersfield/ Learn more about #1 rated Minuteman Press franchise opportunities and read Minuteman Press franchise reviews at https://minutemanpressfranchise.com Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

September 08, 2023 10:00 AM Eastern Daylight Time

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