March 24, 2025 • 41 mins
What happens when a banker makes a U-turn on the interstate after a failed business meeting? For Joel Oney of J Money and the team at Dayton Barns, it sparked a partnership that generated nearly $5 million in additional sales over just three years.
The latest Steel Kings podcast brings listeners inside this remarkable business relationship as hosts Jared Ledford and Eric Olson welcome Joel and Katy from J Money—the official studio sponsors making the podcast possible. Their story demonstrates how financing solutions specifically tailored for metal buildings have transformed the industry and created opportunities that would have otherwise been impossible.
Joel shares how his 25 years of banking experience led him to recognize a critical gap in the market: customers with good credit seeking affordable financing options for buildings over $25,000 needed something better than traditional rent-to-own programs. The solution? A comprehensive financing platform offering paperless applications, instant pre-qualification, and multiple payment options that salespeople can present without collecting sensitive customer information.
The results speak for themselves. Eric describes completing an entire sales process with an Arizona customer in just 90 minutes over the phone—from introduction to credit approval to signed contract. Another example shows how financing turned what might have been a $20,000 cash purchase into a $35,000 building because customers focus on the monthly payment, not the total price.
Beyond business strategies, the conversation reveals a deeper truth about success: "singular moments create lifetime results." Each participant shares how stepping outside their comfort zone—making that U-turn, introducing themselves to a stranger at a banquet, or being open to new partnerships—led to transformative opportunities that changed their businesses and lives.
Ready to implement financing solutions that could revolutionize your metal building or shed sales? Call J Money at 1-937-JMONEY or visit jmoneyllc.com to discover how they might help you close more deals and sell larger projects.
For more information or to know more about the Shed Geek Podcast visit us at our website.
Follow us on Twitter, Instagram, Facebook, or YouTube at the handle @shedgeekpodcast.
To be a guest on the Shed Geek Podcast visit our website and fill out the "Contact Us" form.
To suggest show topics or ask questions you want answered email us at info@shedgeek.com.
This episodes Sponsors:
Studio Sponsor: J Money LLC
Shed Geek Marketing
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Jared (00:32):
Hey guys, what's up?
It's the Steel Kings podcastand we are back at it.
I am Jared right here, this isEric over here, and we are back
with another episode of theSteel Kings podcast.
We are so happy you're here.
We've talked about a lot ofthings over the last few
episodes.
We're going to get intosomething today that is very
important to us, something thatis very cool.
(00:52):
We've got a special guest forthe first time, eric.
What do you think about that?
Eric (00:58):
man, I'm excited to have another you know a couple people
on here, man, and, andespecially the person that it is
super excited to have him ontoday.
Yeah, so we're extremelyblessed.
Jared (01:09):
Uh, we're humbled and blessed and honored that we've
been able to partner with thesefolks now for a little over
three years almost four years,something like that.
I mean, eric, we'll get intothis, but our friends from j
money are here today and theyare the studio sponsors for the
Steel Kings podcast.
They are the reason why youguys get to enjoy our happy
faces and voices once a week andwe've had a really productive
(01:30):
relationship with these folks.
I'm not going to waste a wholebunch of time.
I'm going to go ahead and bringthem in.
We're going to make atransition here for the first
time on the Steel Kings podcastto a guest format.
So, bear with me, I'm going tobring everybody in podcast to a
guest format.
So bear with me.
I'm going to bring everybody in, Katy and Joel.
Let me go ahead and drop Erichere really quickly and we will
(01:51):
bring in Joel and Katy.
And welcome to the Steel Kingspodcast, Joel and Katy from the
J Money team how are we doingtoday?
Joel Oney (02:05):
It's great to see your faces today.
Katy (02:06):
How's?
Eric (02:06):
everything going Fantastic .
Joel Oney (02:07):
Yeah, yeah, excited, happy Monday.
Eric (02:11):
Yeah, definitely we love Monday.
Jared (02:13):
I don't know, Joel.
Last time I checked we had donesomething close to $5 million
in sales, something like thatfour or close to five.
We are just really lucky justso y'all can put that into
perspective for our metalbuilding and woodshed sales
friends.
Five million over the course ofa couple years, and we'll get
into the timeline on this.
But those are additional salesthat we just might have missed
(02:33):
out on and it's a lot of grossvolume that we might not have
had the chance to secure withoutour help from our friends over
at J Money.
This is definitely going to bea lot today, eric.
I'm going to kind of give allof you a heads up for that.
But I came on to Dayton Barns,as you guys have heard in
previous episodes, about threeyears ago now.
It's actually three years agothis week that Eric and I got
into this together and y'allwere kind of on this road,
(02:56):
walking down this road togetheralready.
But I'm going to kind of letyou guys take the lead here and
kind of fill me in.
Joel Oney (03:02):
Yeah, yeah, and kind of fill me in yeah, yeah, you
all have been a leader in thefinancing, and you know Dayton
Barns is a leader in a lot ofthings, and so why would we not
expect them to be a leader?
Jared (03:14):
in financing as well, right?
Well, we sure appreciate thosekind words.
Just so everyone knows outthere that's listening we're
officially sponsored by the teamover at J Money.
They will help you out withyour projects.
If you're a contractor, ifyou're selling metal buildings,
wood sheds, if you're producinganything in the home improvement
space, these are your folks.
Give them a call at1-937-JMONEY and they're happy
(03:36):
to help you out, and we're goingto officially welcome them to
the podcast here today.
I'm not going to waste a wholelot of time.
I'm going to let Eric take thelead here.
Eric and Joel, you know, meteach other and the rest is kind
of history from there.
But, eric, why don't you fillus in?
And Joel, we can kind of gofrom there and kind of bounce
off and see what we can get intotoday.
(03:57):
I think sharing some thingswith the listeners is going to
be good for everybody.
Eric, why don't you let us know, uh, how we got started with
Joel and go from there?
How's that?
Eric (04:07):
you know, we, we were talking about the time frames of
our existence in Dayton Barns,and I think one of the like, the
biggest like, pinnacle momentswas and I think it was episode
two.
I believe we was talking abouthow, like, don't, don't wait on
a transition, you know, makeyour move, make sure it's not
emotional.
And so we were in the middle ofshopping wood shed places to
(04:32):
put on our properties, and so weit's not that we weren't happy,
but we was looking forsomething, maybe a little bit,
that paid us a little bit morein dealer commission.
But that's not why, Joel, youknow, it matters, because we
were eager to meet new people.
So the story goes uh, you know,like, first of all, welcome to
our podcast guys.
Um, uh, I, I'm absolutelytickled that full circle.
(04:56):
I mean, Joel, me and you havebeen in North Carolina at
meetings in Texas and meetings.
We've been on road trips, I'vecalled you, I've probably
harassed you to some degreeabout certain things and you
know, probably double called you, which is a cardinal sin.
But you know, it all leads tobasically this moment where we
get to talk about basically whatyour services are like, how we
(05:19):
met, why I'm so excited aboutthis and it did come at a time
where Dayton Barns kind of waspivoting to this metal building.
You know, I had figured outadvertising, I figured out how
to sell a building, you know, inIdaho, without taking
somebody's hand, and but therewas this missing piece in our
(05:39):
business, which was how cansomeone buy something that costs
$30,000?
You know, a rent to own paymentwould be like $4,200 a month or
something wild.
So in walks and I guess youknow I'd like to hear what you
have to say basically about youknow how we met, cause I think
in order to paint this fullpicture we've got to share with
(06:01):
the listeners, you know, likeokay, how does Dayton Barns and
Joel and J Money team, how dothey know each other?
And so I guess let's kind of goquick and we'll jump in there
with questions, and Jaredobviously jump in too.
But kind of tell us how.
What was on your heart?
Yeah.
Joel Oney (06:18):
Yeah, yeah, that's.
That's fantastic, that's a goodplace to start is how we met.
I'll get into my background in aminute, but I think to Eric's
point.
One of my favorite sayings isthat the world comes to those
who put themselves out there andsteel buildings.
If you're in banking, like Iwas for 25 years, or if you're
(06:43):
just like Katy here, whointroduced herself to me at a
banquet and now is a part of ourteam the world comes to those
who put themselves out there.
I was in the Dayton area, I'llsay on business about.
I guess it's been a little morethan three years ago and
probably nearly four years agonow, and it was a business
(07:06):
meeting that didn't turn out allthat great.
And so, as I was driving backto Columbus, I was thinking to
myself I got to do somethingthat's going to make this drive
to Dayton a productive drive,and so I just was about maybe 10
miles back towards Columbus.
I thought you know what I'mgoing to Google and just see
what I can find for top sheddealers and metal building
(07:28):
dealers in the Dayton area, andthe first name that came up was
Dayton Barns and All SteelBuildings.
And so I got off the next exit,turned around and went back to
Weber Heights and said I'm goingto make a great day out of this
somehow, and pulled in and metEric and his colleagues at the
time, which was a small team ina small office, and we got to
(07:53):
talking about mostly rent to own, because that's mostly what we
did at that time was rent to ownat J Money.
But it was pretty quicklyshortly thereafter that we
decided, yeah, there's somebetter products that we can
bring to this space.
And then it evolved into thefinancing products that we bring
to the space today.
So that was kind of how we metand I just dropped in and we
(08:17):
just started talking and that'sthe genesis of this great
relationship.
Jared (08:25):
I think that's a Go ahead, Eric.
Eric (08:29):
I was going to say, you know, when you get JW.
So, to paint the picture, it'sJW who you guys will meet, if
you don't know him already.
Not you guys, but listeners,it's me, JW, who are talkers,
super talkers, if you will.
And then Joel comes in and he'sgot this solution and JW and I
(08:53):
at that time was shopping.
We weren't shopping heavily,but we were looking for
potentially a different woodpartner because it was slowing
down and I think the time framethat Joel was talking about was
probably September, October of22.
So, we was slowing down for thebusy season in a couple months
and maybe was thinking about andso not only was Joel a finance
(09:17):
solution, but he also helped usbring on our next wood
manufacturer, which was a closefriend of his and, yeah, man,
that worked out great too aswell.
Joel Oney (09:26):
Yeah, you never know how the relationships that you
have with others, because thisindividual had told me probably,
I don't know a few weeks beforeI met you guys that he was
looking for someone to helpdistribute his wood barns and
you guys are looking for amanufacturer, and so again the
world comes to those who putthemselves out there.
Eric (09:48):
Yeah, and I think more importantly did we.
We gained a wood, obviously awood dealer, but you know, more
importantly than all, that man,a good advisor for the business
and, honestly, it's a goodfriend with a lot of wisdom.
And so, Dayton Barns hasbenefited wildly from just the
presence of you and ourrelationship.
I think at that meeting inSeptember, October 22, I think,
(10:11):
the sentence was said if you can, if the J Money team can
provide a way to finance a metalbuilding quote, we will sell
you a million dollars worth ofbuildings.
And um, I think that might havebeen paraphrased or something,
but um, it wasn't but that'sreally close, I'm sure 14 months
(10:32):
later, um, we had a meeting inColumbus over, uh, fish and
chips, I think, and, and you hadyou, you were ready to, to, to
bring us that solution and, andgosh, we piloted it and it
worked out so great.
And that was, I think, from atimeframe perspective, that was
over two years ago now thatwe've been doing that.
(10:54):
And so, Jared, not sure if youwant to steer that kind of part
of the conversation, but I'm notsure if you want to steer that
kind of part of the conversation, but I was just going to
reiterate.
Jared (11:02):
I was going to reiterate I think that it is extremely
valuable information.
Eric (11:08):
Again.
We present a call to actionevery week, at least I think
you're echoing?
Jared (11:11):
Am I echoing?
All right, let me do somechecking here.
How's that?
How's, how's live editing?
All right, there you go, okay,so I think, I think, I think, uh
, where I come into this is thecall to action piece I.
(11:33):
I try to touch base with youguys every week on something
that we do here at Dayton Barns,as you know, as part of the
steel kings podcast is amotivation for you guys
listening to take something awayfrom what we're saying.
I can't echo enough.
And one thing that I think weskipped over just a little bit
and I've been doing this for awhile with Joel always make if
(11:53):
you're on a business trip oryou're on the way to somewhere
and something's not working out,maybe look for a backup plan.
Never shy away from an extrastop on your road trip, because
I can tell you, Joel and I havebeen in North Carolina, we've
been in Missouri, we've beenkind of all over the place over
the last couple of years, he andI, and I can tell you we've
(12:15):
cold called on a couple folks,we've door knocked.
We've not necessarily beenwelcomed everywhere, but you
know what, it's not deterred usfrom it and I can tell you we're
going to get into the nuts andbolts of what's built this
relationship, but this podcastright here, not just from a
marketing and advertisingstandpoint, this podcast doesn't
exist without that meeting thatJoel had with Eric.
(12:38):
So, understanding that andsaying to yourself, the domino
effect, the snowball rollingdown the hill, how much has
happened, not only in Eric andI's life.
Right, I mean, we've probablybecome better business partners
because of Joel.
I think I make the joke all thetime he's the godfather for
Dayton Barns, right, he's themuch wiser counsel, he is the
(12:59):
counsel, you know, the advisorfor Dayton Barns.
He has been an advocate for usand you know, when you brought
us the financing solution, ourbusiness really changed.
At that point we had stoppedfocusing so much on wood sheds,
we were really getting into themarket for metal buildings and
(13:20):
people need options specificallyrelated to buildings that are
over twenty five thousand.
Tell us, you know kind of, howyou got there, Joel.
Tell us how the process came tobe, if you could.
Joel Oney (13:34):
That's a really good, really good question.
It's like well, how did thisall evolve?
And I'll go back just even ayear or two farther.
Before I met you all, we hadsome folks that I knew that were
really good friends, that werelooking for some solutions to
bring their product to themarketplace and some financing
(13:54):
for those products, you know,and mostly in the wood barn
space, but also in steelbuildings mostly in the wood
barn space, but also in steelbuildings.
And so, we started exploringrent to own and we put together
a rent to own company and nextthing we knew we had hundreds of
buildings across seven stateson rent to own contracts, and so
that expanded really rapidly,especially during COVID, and
(14:18):
that's how our relationshipstarted with you all as well was
through the rent to own.
But really we discovered veryquickly and with my background
in banking I was in banking for25 years, you know my leadership
roles in the banking world werealways about trying to find
solutions for various types offinancing needs or solutions for
(14:41):
the financial institutions thatI worked for so real quickly
realized that there was a lot ofthings that didn't fit rent to
own really well, and one ofthose was steel buildings,
because they're, you know, tosome extent a little bit of a
challenge to take down,depending upon the complexity of
the building and to repo thatbuilding.
But also, just the size of thebuildings were getting much
(15:02):
larger and you know we needed aproduct that could have some
longer terms, maybe some lowerinterest rates and things like
that.
But then I think the otherthing too is that there was just
some people that had decentcredit scores in the steel
building space that wanted abetter solution than rent to own
something that was a littlemore affordable for them, a
(15:22):
little bit, I guess, bettermatched with their good credit
scores.
And so, with all that said, wesaid you know what we're going
to go search the face of theplanet.
We're going to find somesolutions, and we dip our toe in
with a lot of differentsolutions and struck out here
and there, but in the end wefound some solutions that that
work well for the shed space andfor the steel buildings, um,
(15:46):
and much larger, largerbuildings.
You know, I think, eric, beforewe got the call, you said you
did one this week for sixtythousand dollars for us.
So yeah, that's really was.
We were just looking to findsolutions for our friends and
this is where we ended up todayand to piggyback off that like,
like and Katy, we want to hearfrom you too.
Eric (16:05):
We're not trying to hog the microphone but, uh, I don't
want to touch before passingback over to Jared the 60k
building.
So, like, I just want to talktrack like the customer.
I knew who the customer was.
I I believe the person wouldprobably still buy the building,
probably a smaller one.
(16:26):
The thing that getting into thedetails of like what they're
getting, the, the wide range inthe choosing of what kind of
plan you are, you know, justknowing where they're at in
their financial like, uh,existence, is like it's helpful
for me because I know theproduct line that you guys offer
.
So it's like it's easy for me tounderstand like what probably I
could pitch to them like as agood solution before then making
(16:49):
the decision.
And, um, I think one of the no,the no money down options is
super helpful because I think,especially on a bigger building
like that, where the downpayment could end up in five
figures, like it's nice for themto know like, hey, that
actually could be a significantportion of our concrete work
that they can just utilize nowfrom a cash flow perspective and
like they don't even have abill for you know some time
(17:12):
period, and so I just want tokind of piggyback that.
So, the large one.
Otherwise, there's a couplecustomers that I've had that
probably would not have boughtthe building.
If you know, we're talking toptier, like towards an 800, where
, oh crap, I don't owe money forsix to 12 months, like that's a
huge benefit for having a greatcredit score.
So, there are many ways it'snot just providing that kind of
(17:34):
low payment for a 20K building.
There are the upper echeloncustomers like you're bringing
them to the table because you'reoffering something better than
typically a bank could evenoffer certainly and ultimately,
with a good financing solution,you'll do two things you'll sell
more.
Joel Oney (17:50):
You'll sell more buildings and you'll sell more
expensive buildings.
Yeah, those are the things youget people across the finish
line with payments.
Yeah, yeah, they might even.
They might even say, hey, I'm acash buyer, you know.
But getting them to part withthat cash is another thing.
Right, and you know they mightalso be thinking well, we got
Johnny's tuition coming up thiswinter.
(18:12):
We've got to replace the car.
You know, we've got this otherexpense coming up.
Maybe we'd like to keep ourcash back, just for some
liquidity.
You get a lot more folks acrossthe finish line if you can
offer a competitive payment plan.
Plus, you can just sell largerprojects too.
It's a proven fact.
If you have financing, you canjust sell bigger buildings.
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Jared (19:54):
I think we have a really unique opportunity here because
I think up until just a coupleyears ago, this was something
that was not really in themarketplace at all in our
industries and I think that thisis something that, as we get
more versed and we get morefolks on board, these are going
to be additional opportunitiesthat come down the road with.
You know, if metal buildingsand wood sheds become an even
(20:16):
bigger market for someone like JMoney, there's all kinds of
opportunities that come fromthat, right, Joel.
Joel Oney (20:23):
Yeah, yeah, all kinds of opportunities, for sure.
And you know you mentioned thename of our company, j Money,
and for those that don't know me, that's, my nickname is J Money
and that's how we ended upnaming the business.
My initials are Joel, middleinitials M and then last name's
Oney, and so in 25 years inbanking I would sign my name J M
(20:48):
Oney and eventually it justbecame J Money.
And so, when we were sittingone evening trying to figure out
how to name the company it tookus about 30 seconds Andrea, my
better half, looked at me andshe says just use your nickname.
I thought, oh, okay, yeah, andit stuck.
And so we didn't go on some bigexploratory journey with a
(21:11):
branding company or anythinglike that about how or what to
do with a name.
We just used my nickname.
So that's where the name JayMoney comes from.
So just for a, littlebackground.
Jared (21:22):
Sometimes it's just right in front of you, Joel.
Sometimes the obviousdecision's just right there in
front of you.
I think the thing that I likethe most about working with you
on this particular project themetal building financing, the
woodshed financing it's so easyto use and there's so many
options for us on the dealerlevel that don't cost us any
(21:46):
money.
Let me reiterate that to youthere are a lot of opportunities
here that don't cost you anymoney and give your customers a
beautiful opportunity to havesomething that might be on an
RTO, significantly moreexpensive for them, on a monthly
payment.
And a lot of those customersthat have worked and scraped and
scrounged to have those goodcredit scores don't necessarily
(22:10):
want to take an RTO monthlypayment.
You know, Joel, I think you'vetaught me a lot about suggestive
selling, making customers.
Like you said, you can take a$20,000 building cash and turn
it into a $35,000 buildingfinanced Customers.
All the time they are paymenthappy.
They would be happy.
Hey, I'm happy with a $400 amonth payment.
(22:32):
What can I get for $400 a month?
Well, let's talk about it.
What have you seen, Joel?
I know we're not your only.
You've got gosh.
Dozens and dozens of clients atthis point them, but just to
speak a little bit about therent to own, and I think that
(23:01):
there's still a great spot forrent to own, especially on the
smaller buildings.
Joel Oney (23:06):
And the thing about rent to own I always tell folks
the reason it's a little moreexpensive is because the
customer has all the flexibilityin the world.
Right, it's not somethingthat's going to be on their
credit report, it's amonth-to-month contract.
On a rent-to-own contract,Someone can at any point in time
say you know what I reallydon't want?
this building anymore or I'mmoving.
(23:26):
Can you please come pick it upright?
And so, for that flexibility,you know you get a little higher
payment right for thatflexibility, and so that's
really what you're paying for isto rent that building month to
month and with that flexibilityof a rental contract versus a
loan.
If you said to the bank OK, Mr.
(23:47):
Banker, I really don't wantthis building anymore, I'm
moving, can you?
You know, can I stop making myloan payments?
Now They'd say no, you need tokeep making your loan payments.
And so, I just wanted to drawsome distinctions between
rent-owned, because I don't wantto come away by disparaging the
rent-owned.
(24:07):
For a lot of folks, rent-ownedis a great answer, and for a lot
of people selling it's a greatanswer, and so I think that I
want to underscore that.
But the financing just givesyou some things that the
rent-to-own can't provide, andso that's why we went and found
this just additional solutionfor the marketplace.
So, Katy, I don't know, youtell me, what else would you
(24:31):
have to say about that?
Katy (24:33):
Yeah, we've got over 70 merchants now that we work with
and of course Dayton Barns andyou know, sometimes we'll have a
customer say that they'restruggling with getting some
(25:06):
deals over the counter.
But once they start offeringthat financing up front, up
early, they get a lot more dealsover the counter.
Jared (25:15):
I do think it's a really good complimentary piece and
I'm glad you brought that up thecounter.
I do think it's a really goodcomplimentary piece and I'm glad
you brought that up, Joel.
I do think that you know.
Obviously, I want to give youknow our weekly shout out to our
partners over at Sheds Direct.
Those guys do a great job.
They have a really nicein-house RTO program, but we
also utilize J Money on thefinancing side of that with Wood
Sheds and I think that thattransition, that really nice
(25:37):
balance between the two, becausethere are some folks that you
know obviously are not going toqualify for financing and that's
a discussion that can besometimes difficult.
But when you have that backupoption where it's like, well,
you know, I can't get you thefinancing, unfortunately, but I
can get you a really aggressiverent to own product, that hey,
good news is you're going to beapproved for and we can start
(25:59):
that right away.
How's that sound?
I think that's really thetransition that you're talking
about, right, Joel?
Joel Oney (26:04):
Yeah, I think so.
I think that there's going to bea place for the rent-to-own for
a long, long time, and justwanted to underscore that piece
of the conversation.
But you're right, as simple asit is to do the prequalification
with the platforms that weoffer, a person can go down that
road and check that out firstreal easily with a soft credit
(26:25):
pool, and it's just a simplething to work into your sales
process, completely paperlessand easy and efficient.
And I think that those are someof the things that, eric, when
we first started on this path,we were like looking at must
haves.
It had to be paperless, had tobe fast, had to have a soft
credit pool kind ofpre-qualification, and had to be
(26:46):
real easy to work into yoursales process and all these
things.
It had to have at least a fewoptions that were free for you
to offer, which, Jared, youspoke to as well.
But then also, you know, if wehad some promo rates that we
could use, you know, to defersome payments or do some
interest-free programs, you knowthose are nice options to have
(27:07):
as well.
And so, yeah, all of that, Ithink, was what evolved out of
some of the early conversationsthat we have with you guys.
Eric (27:23):
Yeah, I think overcoming obstacles in the sales process.
I think I hear the question doyou guys offer financing Without
looking at a spreadsheet?
Because it's probably somewhereI'm going to assume it's
between a third and a halfEverybody asks that question,
probably within the first chunkof conversation, like that first
initial.
If they're chatting back andforth, I would say that's
(27:45):
probably one of the number onelead time.
And then do you guys offerfinancing?
Because they want to know isthis something I can bring my
wife or my husband?
And if yes, what are the?
What are the details on it?
And then you have overcomingobstacles within that.
So, if it's yes, we do offer it.
Then it's trying to figure outokay, what is your credit
worthiness?
And then what is it that I canoffer?
(28:05):
Because I think what you justsaid those promos gosh, they're
great.
It might cost a little bit 2%or 3% off of like but without
getting into too many details, Imean it's something you can
offer as a, as a give back tothe customer.
Like, hey, you don't have tonecessarily take this free one.
You know that's probably formaybe a lower tier on the credit
(28:28):
score.
You know, someone with a highertier is probably going to
expect a little bit more, andyou can overcome that obstacle
just basically by knowing whatyou guys offer, so that you can
give you know.
Hey, how about this set youknow, and it doesn't.
You'll lose the customer if youdon't.
Jared (28:42):
So so anyway.
I think I want to piggyback onwhat you just said, eric,
because I think for the peoplethat don't ask the question, I
think having it in your arsenalto tell them, hey, I can get you
this building today on apayment of a few hundred dollars
a month, I think that extratrick in your bag of toys is
(29:03):
probably a really good play.
I mean, I use that a lot.
I would say probably a third toa half of the customers that I
personally interact with willcome at me and say, hey, do you
guys offer financing?
What can I do on a payment with?
Will come at me and say, hey,do you guys offer financing?
What can I do on a payment?
That other half I'm almostalways leading in with hey, your
(29:25):
total's this and your paymentcould be this and we can get you
right now with no money downand go from there.
And I think that you cannot puta value on that, Joel.
I mean, like I said, well, Iguess you can put a value on it.
It's about $5 million in sales.
I mean that's the value, right?
I mean that is the valueproposition is that is almost $5
(29:45):
million in sales that DaytonBarns has produced over the
course of about two years or sothat we've been doing it and I
mean that is a crazy number,Joel.
I mean that's a.
That is a crazy number, Joel.
I mean that is that is.
You know, that's 20% of ourgross sales, something like that
Right, Eric.
I mean that's.
That's a crazy number.
Eric (30:04):
Perspective is I've done a hundred K of prequels in the
past week, so and and normally,if you get them if you get them
pre-called and it's green andthey know what they can have.
Jared (30:17):
Like that close rates probably 75 percent like, unless
they just flat out most of youat least so.
Eric (30:21):
But I was going to share this because I was talking about
, like, how you, like there aretimes and this is no, uh, this
is from a humble perspective,but like wood dealers out there
and metal building dealers, likewhen you have j money on your
team, here's what you can do.
I took a fate, a Facebook phonenumber.
I called the customer inArizona, wrapped with them for
an hour.
We eventually hopped on agoogle meet.
(30:43):
So I was face to face with them.
I did a pre, quoted thebuilding, did a pre-qual with
them.
They signed the paperwork andthey gave me their credit card
info for a cash down payment andI got off the phone.
I literally took in one phonecall, took them from not knowing
me or us to quoted the building.
Now we're face to face.
This guy and his wife comes inand they got a pre-qualified
(31:07):
right there on the spot, didn'teven hang up, but I just sent
them the link and they and I'verefreshed it, they had it send
them the document.
I mean wham, bam, you know,2500 bucks later, dude, I mean
and I remember I got off I senta message to our corporate chat
on our back end system.
Like I'm like you guys can'ttouch me.
I'm like you know I wasbragging about the sales.
You know how I did.
I you know I'm like.
(31:28):
I'm like I literally justsolved this person's problems in
one hour.
That guy did not have abuilding ordered and then he had
it all done and figured outlike in 90 minutes.
And I'm like why would you notuse j money?
I mean like to me, like you arefoolish I agree with you, yeah
I think it's
Joel Oney (31:47):
the ease of use.
Jared (31:48):
It's the ease of.
It's the ease of use, though.
Katy (31:51):
Yeah, I mean really yeah, go ahead, Katy yeah, you touched
on a few more perks of theplatform right there the
pre-screen feature.
You can get someone's first andlast name and their address and
you can know if they'repre-qualified before even
talking to them.
And since he's in Arizona, youcan even text email the
(32:12):
application over to them if theydon't feel comfortable, you
know, giving their social overthe phone or something like that
.
You can text your customertheir apple application.
They have it in their hands andthey log into the platform
through an app to make all theirpayments.
It's very easy to use.
Jared (32:28):
I think that's.
My favorite part of theplatform is that I can be on the
phone with a customer and Idon't have to collect any
personal data from that customer, and they can get a credit card
basic.
It's basically a credit card,right?
It's a?
It's a purchasing power.
Let's say it that way, right,Joel?
That's how I would describe itthat's probably gives you.
Joel Oney (32:48):
Probably it is a term loan, yeah, so which is very
different.
It's a credit card, but it doesit gives you correct, correct
what it does yeah.
Jared (32:56):
So, you've got to now.
You've got now a purchasingpower with that customer to say,
man, you're not only approved,but you're approved for this
amount of money.
Oh well, you know what's thatgoing to be?
On a monthly, you get all thesetools in your portfolio to be
very dangerous with.
And again, another call toaction for today you can't have
(33:16):
too many tools, you cannot havetoo many tricks, because
sometimes customers are going tohit you with well, how much is
that going to cost me per month?
And if you're not using theright financing product or if
you're not in control of the endbag which we've used I mean,
eric, we've used some otherfinancing products.
So, I'm going to, you know, I'mgoing to let those guys be
themselves, but I can tell youthey don't give you the tools
(33:38):
and they don't give you thecontrol that you get with J
Money.
That's for sure, not even close.
Joel Oney (33:45):
And I'm going to touch on something that Eric
said too.
He said well, I was helping tosolve someone's problem, and I
think that's what we do in life,right, if we do enough of that.
You help people solve theproblems for storage, buildings
and sheds.
We helped our customers solvetheir problems for needs for
financing.
You referred to me as thegodfather of your business.
(34:08):
That might be a bit of anoverstatement.
I'm just a simple country boythat grew up on a dairy farm in
northern Ohio.
My older brother took over thedairy farm, so I had to find
something else to do in life.
So, I went into banking and wasin banking for a lot of years.
But that's what I've done allmy life is just help people
solve their problems throughfinancing solutions, and that's
(34:30):
what you guys are doing withbuildings.
You know, and even when I metKaty I'll let you talk about
when you and I met I was in needof some help and Katy put
herself out there, sat down nextto me at a 4-H Foundation
banquet.
Katy, tell a little bit aboutthat story, about how we met.
Katy (34:47):
Yeah, so I guess it's been about a year now, almost on the
dot.
They invited me to come up tothis banquet and meet some of
the foundation members.
I was next to Joel and I got tostop talking to him for a while
.
He talked about his 25 years inbanking and I shared my puny
(35:08):
little four years in banking andwe got to start talking through
that.
And then I told him a littlebit about my business in West
Virginia where I was buildingsome tiny homes.
So we kind of matched upperfectly on what he was doing
and I wasn't necessarilyshopping for a job but he stole
me.
Eric (35:30):
It's a good guy to sit next to at a banquet.
Katy (35:33):
Right, it worked out really well.
I got free dinner.
Eric (35:35):
You're leaving with something.
Katy (35:37):
Exactly.
I did not expect that.
Joel Oney (35:41):
I'm leaving with something, yeah yeah, I, I think
I I said something, maybe righton the spot, that was along the
lines of uh, would you want towork for me?
Katy (35:52):
yeah, while we were sitting there.
Yep, beautiful.
Joel Oney (35:57):
You know, I don't think the world comes to those
who put themselves out there andtry to help others.
You know so.
I don't think the world comesto those who put themselves out
there and try to help others,you know.
Jared (36:04):
I don't think you know a stranger though, Joel, to be
honest with you.
I mean I've shared meals withyou, we've hung out, we've done
trade shows together.
I don't think you don't knowanybody.
I mean you know everybody,right.
Joel Oney (36:17):
I think there's a lot of people I don't know out
there, but I've never met astranger.
I guess is the thing.
Jared (36:23):
There you go.
Joel Oney (36:23):
There you go, just like you guys.
You know you guys have gottenahead in life too by, you know,
putting yourselves out therewith a lot of strangers.
You know, and I think if you,if you do that enough in life,
it makes life so much more notonly successful but rich.
You know your life is rich withall these connections that you
have.
And had I just gone to thisbanquet and sat in the corner
(36:46):
and not had a chance to sit withKaty, or vice versa, who knows
my life would not be nearly asrich today.
Or if I hadn't have made thatU-turn on Interstate 70 and gone
back and visited Dayton Barnsto try to make some success out
of a day in Dayton, you knowwhere would life be today?
Who knows, it might besomeplace different, but it
(37:07):
definitely wouldn't be as richas it is now.
Jared (37:11):
I talk about that all the time because it's singular
moments that create lifetimeresults.
I know I'm trying to come upwith cliches right now, but
these moments, you know, in time, where one thing goes one way
versus another and all of asudden I'm standing in an office
(37:32):
space with 15 employees and I'mselling metal buildings and
woodsheds across the UnitedStates.
With I mean somebody who'simpacted my life in a way that I
can't even express to you,right, and that came about
because I bought a metalbuilding.
I bought the metal buildingfrom Eric and my life changed.
One singular moment in timecreated lifetime results and I
(37:54):
think for you know, for Eric itwas, you know, moments in his
life, Joel.
It was moments in your life,Katy, moments in your life, you
know where impact from otherpeople that you might not have
gave a chance to.
You know what I mean.
You might've passed it up and Ithink I can't stress enough.
You're listening to thispodcast or watching us.
(38:15):
Because of those singularmoments in time, a couple of
dominoes fall a different way,and we're not even doing this
together, which would be a realshame because I'm having such a
good time doing it.
Katy (38:27):
Well said, I hate public speaking, I hate schmoozing.
I don't want to go to a banquetand talk to people.
I hate it.
But I went outside of mycomfort zone and, like you're
saying, you don't grow unlessyou're outside of your comfort
zone.
So, like you're saying, youdon't, you don't grow unless
you're outside of your comfortzone.
So here I am today.
Amen.
Jared (38:46):
I can tell you.
I can tell you that you'veimpacted the J Money team quite
a bit in the year that you'vebeen there.
I mean, it's you know.
So, we're going to talk alittle bit.
So, I want to wrap up right now.
This is this is going to be atwo-parter, based on our time,
because I want to talk more toyou guys next week on the
podcast.
So, what we're going to do nowI'm just going to tie this up
(39:07):
really quick with a loose bow.
Check out the team over at jaymoney.
If you haven't picked up onthat on this call, believe me,
we're going to have another onenext week.
We're going to get into thenuts and bolts of how the j
money team created the steelkings podcast with our partner
over there at shed, geek Shannon, and we'll talk a little bit
more about financing options.
(39:28):
Eric, what are you thinking,brother?
What's your, what's your endmessage for this week?
Eric (39:32):
and we'll go around the circle my, my end message is
that if you're a shed dealer ora metal building dealer and you
are maybe hesitant aboutbringing on another solution
because you're being stoic likeI'm knocking you in the head
virtually currently and say wakeup, because there is a solution
(39:52):
out there that we've masteredit, you know so.
So, if you're not using j moneyand you and you want some
finance options and maybe you'rea little hesitant about it,
reach out to Joel or Katy and,of course, reach out to Jared or
I too.
You guys know it's Jared atDayton Barns and Eric at Dayton
Barns If you want some info orhow things are going our way,
(40:14):
you are foolish to not bringthem on.
And what a better time.
It's February 17th in Ohio.
You've got about a month beforeit starts heating up, so it's a
good time to try to get outthere.
Jared (40:25):
You're going to hear this podcast.
You're going to hear thispodcast basically one month from
when it was recorded.
Okay, so let me give you thatheads up right now, guys, if
you're hearing us which I knowyou are because you're listening
contact the guys at J Money,which I know you are because
you're listening.
Contact the guys at J Money.
Money 19377 J Money.
(40:45):
They are here to help you onyour financing metal buildings,
wood sheds.
If you're a contractor, hitthose guys up, Joel.
Joel Oney (40:56):
Katy, you got anything?
Before we say goodbye forthis week, I just am thankful
for the day that I met you guysYou've enriched my life and
happy to do the same for youguys as well.
Katy (41:07):
Katy yeah, get outside your comfort zone, give me a
call, give me an email.
We can have you.
Jared (41:14):
offering financing within a week Sounds good.
Guys.
We're going to talk to the JMoney team again next week on
the Steel Kings podcast.
I'm Jared, he's Eric.
We're the Steel Kings.
We'll talk to you guys later.
Have a good week.
Eric (41:25):
Let's go.
Hey guys, what's up?
It's the Steel Kings podcastand we are back at it.
I am Jared right here, this isEric over here, and we are back
with another episode of theSteel Kings podcast.
We are so happy you're here.
We've talked about a lot ofthings over the last few
episodes.
We're going to get intosomething today that is very
important to us, something thatis very cool.
(00:52):
We've got a special guest forthe first time, eric.
What do you think about that?
Eric (00:58):
man, I'm excited to have another you know a couple people
on here, man, and, andespecially the person that it is
super excited to have him ontoday.
Yeah, so we're extremelyblessed.
Jared (01:09):
Uh, we're humbled and blessed and honored that we've
been able to partner with thesefolks now for a little over
three years almost four years,something like that.
I mean, eric, we'll get intothis, but our friends from j
money are here today and theyare the studio sponsors for the
Steel Kings podcast.
They are the reason why youguys get to enjoy our happy
faces and voices once a week andwe've had a really productive
(01:30):
relationship with these folks.
I'm not going to waste a wholebunch of time.
I'm going to go ahead and bringthem in.
We're going to make atransition here for the first
time on the Steel Kings podcastto a guest format.
So, bear with me, I'm going tobring everybody in podcast to a
guest format.
So bear with me.
I'm going to bring everybody in, Katy and Joel.
Let me go ahead and drop Erichere really quickly and we will
(01:51):
bring in Joel and Katy.
And welcome to the Steel Kingspodcast, Joel and Katy from the
J Money team how are we doingtoday?
Joel Oney (02:05):
It's great to see your faces today.
Katy (02:06):
How's?
Eric (02:06):
everything going Fantastic .
Joel Oney (02:07):
Yeah, yeah, excited, happy Monday.
Eric (02:11):
Yeah, definitely we love Monday.
Jared (02:13):
I don't know, Joel.
Last time I checked we had donesomething close to $5 million
in sales, something like thatfour or close to five.
We are just really lucky justso y'all can put that into
perspective for our metalbuilding and woodshed sales
friends.
Five million over the course ofa couple years, and we'll get
into the timeline on this.
But those are additional salesthat we just might have missed
(02:33):
out on and it's a lot of grossvolume that we might not have
had the chance to secure withoutour help from our friends over
at J Money.
This is definitely going to bea lot today, eric.
I'm going to kind of give allof you a heads up for that.
But I came on to Dayton Barns,as you guys have heard in
previous episodes, about threeyears ago now.
It's actually three years agothis week that Eric and I got
into this together and y'allwere kind of on this road,
(02:56):
walking down this road togetheralready.
But I'm going to kind of letyou guys take the lead here and
kind of fill me in.
Joel Oney (03:02):
Yeah, yeah, and kind of fill me in yeah, yeah, you
all have been a leader in thefinancing, and you know Dayton
Barns is a leader in a lot ofthings, and so why would we not
expect them to be a leader?
Jared (03:14):
in financing as well, right?
Well, we sure appreciate thosekind words.
Just so everyone knows outthere that's listening we're
officially sponsored by the teamover at J Money.
They will help you out withyour projects.
If you're a contractor, ifyou're selling metal buildings,
wood sheds, if you're producinganything in the home improvement
space, these are your folks.
Give them a call at1-937-JMONEY and they're happy
(03:36):
to help you out, and we're goingto officially welcome them to
the podcast here today.
I'm not going to waste a wholelot of time.
I'm going to let Eric take thelead here.
Eric and Joel, you know, meteach other and the rest is kind
of history from there.
But, eric, why don't you fillus in?
And Joel, we can kind of gofrom there and kind of bounce
off and see what we can get intotoday.
(03:57):
I think sharing some thingswith the listeners is going to
be good for everybody.
Eric, why don't you let us know, uh, how we got started with
Joel and go from there?
How's that?
Eric (04:07):
you know, we, we were talking about the time frames of
our existence in Dayton Barns,and I think one of the like, the
biggest like, pinnacle momentswas and I think it was episode
two.
I believe we was talking abouthow, like, don't, don't wait on
a transition, you know, makeyour move, make sure it's not
emotional.
And so we were in the middle ofshopping wood shed places to
(04:32):
put on our properties, and so weit's not that we weren't happy,
but we was looking forsomething, maybe a little bit,
that paid us a little bit morein dealer commission.
But that's not why, Joel, youknow, it matters, because we
were eager to meet new people.
So the story goes uh, you know,like, first of all, welcome to
our podcast guys.
Um, uh, I, I'm absolutelytickled that full circle.
(04:56):
I mean, Joel, me and you havebeen in North Carolina at
meetings in Texas and meetings.
We've been on road trips, I'vecalled you, I've probably
harassed you to some degreeabout certain things and you
know, probably double called you, which is a cardinal sin.
But you know, it all leads tobasically this moment where we
get to talk about basically whatyour services are like, how we
(05:19):
met, why I'm so excited aboutthis and it did come at a time
where Dayton Barns kind of waspivoting to this metal building.
You know, I had figured outadvertising, I figured out how
to sell a building, you know, inIdaho, without taking
somebody's hand, and but therewas this missing piece in our
(05:39):
business, which was how cansomeone buy something that costs
$30,000?
You know, a rent to own paymentwould be like $4,200 a month or
something wild.
So in walks and I guess youknow I'd like to hear what you
have to say basically about youknow how we met, cause I think
in order to paint this fullpicture we've got to share with
(06:01):
the listeners, you know, likeokay, how does Dayton Barns and
Joel and J Money team, how dothey know each other?
And so I guess let's kind of goquick and we'll jump in there
with questions, and Jaredobviously jump in too.
But kind of tell us how.
What was on your heart?
Yeah.
Joel Oney (06:18):
Yeah, yeah, that's.
That's fantastic, that's a goodplace to start is how we met.
I'll get into my background in aminute, but I think to Eric's
point.
One of my favorite sayings isthat the world comes to those
who put themselves out there andsteel buildings.
If you're in banking, like Iwas for 25 years, or if you're
(06:43):
just like Katy here, whointroduced herself to me at a
banquet and now is a part of ourteam the world comes to those
who put themselves out there.
I was in the Dayton area, I'llsay on business about.
I guess it's been a little morethan three years ago and
probably nearly four years agonow, and it was a business
(07:06):
meeting that didn't turn out allthat great.
And so, as I was driving backto Columbus, I was thinking to
myself I got to do somethingthat's going to make this drive
to Dayton a productive drive,and so I just was about maybe 10
miles back towards Columbus.
I thought you know what I'mgoing to Google and just see
what I can find for top sheddealers and metal building
(07:28):
dealers in the Dayton area, andthe first name that came up was
Dayton Barns and All SteelBuildings.
And so I got off the next exit,turned around and went back to
Weber Heights and said I'm goingto make a great day out of this
somehow, and pulled in and metEric and his colleagues at the
time, which was a small team ina small office, and we got to
(07:53):
talking about mostly rent to own, because that's mostly what we
did at that time was rent to ownat J Money.
But it was pretty quicklyshortly thereafter that we
decided, yeah, there's somebetter products that we can
bring to this space.
And then it evolved into thefinancing products that we bring
to the space today.
So that was kind of how we metand I just dropped in and we
(08:17):
just started talking and that'sthe genesis of this great
relationship.
Jared (08:25):
I think that's a Go ahead, Eric.
Eric (08:29):
I was going to say, you know, when you get JW.
So, to paint the picture, it'sJW who you guys will meet, if
you don't know him already.
Not you guys, but listeners,it's me, JW, who are talkers,
super talkers, if you will.
And then Joel comes in and he'sgot this solution and JW and I
(08:53):
at that time was shopping.
We weren't shopping heavily,but we were looking for
potentially a different woodpartner because it was slowing
down and I think the time framethat Joel was talking about was
probably September, October of22.
So, we was slowing down for thebusy season in a couple months
and maybe was thinking about andso not only was Joel a finance
(09:17):
solution, but he also helped usbring on our next wood
manufacturer, which was a closefriend of his and, yeah, man,
that worked out great too aswell.
Joel Oney (09:26):
Yeah, you never know how the relationships that you
have with others, because thisindividual had told me probably,
I don't know a few weeks beforeI met you guys that he was
looking for someone to helpdistribute his wood barns and
you guys are looking for amanufacturer, and so again the
world comes to those who putthemselves out there.
Eric (09:48):
Yeah, and I think more importantly did we.
We gained a wood, obviously awood dealer, but you know, more
importantly than all, that man,a good advisor for the business
and, honestly, it's a goodfriend with a lot of wisdom.
And so, Dayton Barns hasbenefited wildly from just the
presence of you and ourrelationship.
I think at that meeting inSeptember, October 22, I think,
(10:11):
the sentence was said if you can, if the J Money team can
provide a way to finance a metalbuilding quote, we will sell
you a million dollars worth ofbuildings.
And um, I think that might havebeen paraphrased or something,
but um, it wasn't but that'sreally close, I'm sure 14 months
(10:32):
later, um, we had a meeting inColumbus over, uh, fish and
chips, I think, and, and you hadyou, you were ready to, to, to
bring us that solution and, andgosh, we piloted it and it
worked out so great.
And that was, I think, from atimeframe perspective, that was
over two years ago now thatwe've been doing that.
(10:54):
And so, Jared, not sure if youwant to steer that kind of part
of the conversation, but I'm notsure if you want to steer that
kind of part of the conversation, but I was just going to
reiterate.
Jared (11:02):
I was going to reiterate I think that it is extremely
valuable information.
Eric (11:08):
Again.
We present a call to actionevery week, at least I think
you're echoing?
Jared (11:11):
Am I echoing?
All right, let me do somechecking here.
How's that?
How's, how's live editing?
All right, there you go, okay,so I think, I think, I think, uh
, where I come into this is thecall to action piece I.
(11:33):
I try to touch base with youguys every week on something
that we do here at Dayton Barns,as you know, as part of the
steel kings podcast is amotivation for you guys
listening to take something awayfrom what we're saying.
I can't echo enough.
And one thing that I think weskipped over just a little bit
and I've been doing this for awhile with Joel always make if
(11:53):
you're on a business trip oryou're on the way to somewhere
and something's not working out,maybe look for a backup plan.
Never shy away from an extrastop on your road trip, because
I can tell you, Joel and I havebeen in North Carolina, we've
been in Missouri, we've beenkind of all over the place over
the last couple of years, he andI, and I can tell you we've
(12:15):
cold called on a couple folks,we've door knocked.
We've not necessarily beenwelcomed everywhere, but you
know what, it's not deterred usfrom it and I can tell you we're
going to get into the nuts andbolts of what's built this
relationship, but this podcastright here, not just from a
marketing and advertisingstandpoint, this podcast doesn't
exist without that meeting thatJoel had with Eric.
(12:38):
So, understanding that andsaying to yourself, the domino
effect, the snowball rollingdown the hill, how much has
happened, not only in Eric andI's life.
Right, I mean, we've probablybecome better business partners
because of Joel.
I think I make the joke all thetime he's the godfather for
Dayton Barns, right, he's themuch wiser counsel, he is the
(12:59):
counsel, you know, the advisorfor Dayton Barns.
He has been an advocate for usand you know, when you brought
us the financing solution, ourbusiness really changed.
At that point we had stoppedfocusing so much on wood sheds,
we were really getting into themarket for metal buildings and
(13:20):
people need options specificallyrelated to buildings that are
over twenty five thousand.
Tell us, you know kind of, howyou got there, Joel.
Tell us how the process came tobe, if you could.
Joel Oney (13:34):
That's a really good, really good question.
It's like well, how did thisall evolve?
And I'll go back just even ayear or two farther.
Before I met you all, we hadsome folks that I knew that were
really good friends, that werelooking for some solutions to
bring their product to themarketplace and some financing
(13:54):
for those products, you know,and mostly in the wood barn
space, but also in steelbuildings mostly in the wood
barn space, but also in steelbuildings.
And so, we started exploringrent to own and we put together
a rent to own company and nextthing we knew we had hundreds of
buildings across seven stateson rent to own contracts, and so
that expanded really rapidly,especially during COVID, and
(14:18):
that's how our relationshipstarted with you all as well was
through the rent to own.
But really we discovered veryquickly and with my background
in banking I was in banking for25 years, you know my leadership
roles in the banking world werealways about trying to find
solutions for various types offinancing needs or solutions for
(14:41):
the financial institutions thatI worked for so real quickly
realized that there was a lot ofthings that didn't fit rent to
own really well, and one ofthose was steel buildings,
because they're, you know, tosome extent a little bit of a
challenge to take down,depending upon the complexity of
the building and to repo thatbuilding.
But also, just the size of thebuildings were getting much
(15:02):
larger and you know we needed aproduct that could have some
longer terms, maybe some lowerinterest rates and things like
that.
But then I think the otherthing too is that there was just
some people that had decentcredit scores in the steel
building space that wanted abetter solution than rent to own
something that was a littlemore affordable for them, a
(15:22):
little bit, I guess, bettermatched with their good credit
scores.
And so, with all that said, wesaid you know what we're going
to go search the face of theplanet.
We're going to find somesolutions, and we dip our toe in
with a lot of differentsolutions and struck out here
and there, but in the end wefound some solutions that that
work well for the shed space andfor the steel buildings, um,
(15:46):
and much larger, largerbuildings.
You know, I think, eric, beforewe got the call, you said you
did one this week for sixtythousand dollars for us.
So yeah, that's really was.
We were just looking to findsolutions for our friends and
this is where we ended up todayand to piggyback off that like,
like and Katy, we want to hearfrom you too.
Eric (16:05):
We're not trying to hog the microphone but, uh, I don't
want to touch before passingback over to Jared the 60k
building.
So, like, I just want to talktrack like the customer.
I knew who the customer was.
I I believe the person wouldprobably still buy the building,
probably a smaller one.
(16:26):
The thing that getting into thedetails of like what they're
getting, the, the wide range inthe choosing of what kind of
plan you are, you know, justknowing where they're at in
their financial like, uh,existence, is like it's helpful
for me because I know theproduct line that you guys offer
.
So it's like it's easy for me tounderstand like what probably I
could pitch to them like as agood solution before then making
(16:49):
the decision.
And, um, I think one of the no,the no money down options is
super helpful because I think,especially on a bigger building
like that, where the downpayment could end up in five
figures, like it's nice for themto know like, hey, that
actually could be a significantportion of our concrete work
that they can just utilize nowfrom a cash flow perspective and
like they don't even have abill for you know some time
(17:12):
period, and so I just want tokind of piggyback that.
So, the large one.
Otherwise, there's a couplecustomers that I've had that
probably would not have boughtthe building.
If you know, we're talking toptier, like towards an 800, where
, oh crap, I don't owe money forsix to 12 months, like that's a
huge benefit for having a greatcredit score.
So, there are many ways it'snot just providing that kind of
(17:34):
low payment for a 20K building.
There are the upper echeloncustomers like you're bringing
them to the table because you'reoffering something better than
typically a bank could evenoffer certainly and ultimately,
with a good financing solution,you'll do two things you'll sell
more.
Joel Oney (17:50):
You'll sell more buildings and you'll sell more
expensive buildings.
Yeah, those are the things youget people across the finish
line with payments.
Yeah, yeah, they might even.
They might even say, hey, I'm acash buyer, you know.
But getting them to part withthat cash is another thing.
Right, and you know they mightalso be thinking well, we got
Johnny's tuition coming up thiswinter.
(18:12):
We've got to replace the car.
You know, we've got this otherexpense coming up.
Maybe we'd like to keep ourcash back, just for some
liquidity.
You get a lot more folks acrossthe finish line if you can
offer a competitive payment plan.
Plus, you can just sell largerprojects too.
It's a proven fact.
If you have financing, you canjust sell bigger buildings.
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Jared (19:54):
I think we have a really unique opportunity here because
I think up until just a coupleyears ago, this was something
that was not really in themarketplace at all in our
industries and I think that thisis something that, as we get
more versed and we get morefolks on board, these are going
to be additional opportunitiesthat come down the road with.
You know, if metal buildingsand wood sheds become an even
(20:16):
bigger market for someone like JMoney, there's all kinds of
opportunities that come fromthat, right, Joel.
Joel Oney (20:23):
Yeah, yeah, all kinds of opportunities, for sure.
And you know you mentioned thename of our company, j Money,
and for those that don't know me, that's, my nickname is J Money
and that's how we ended upnaming the business.
My initials are Joel, middleinitials M and then last name's
Oney, and so in 25 years inbanking I would sign my name J M
(20:48):
Oney and eventually it justbecame J Money.
And so, when we were sittingone evening trying to figure out
how to name the company it tookus about 30 seconds Andrea, my
better half, looked at me andshe says just use your nickname.
I thought, oh, okay, yeah, andit stuck.
And so we didn't go on some bigexploratory journey with a
(21:11):
branding company or anythinglike that about how or what to
do with a name.
We just used my nickname.
So that's where the name JayMoney comes from.
So just for a, littlebackground.
Jared (21:22):
Sometimes it's just right in front of you, Joel.
Sometimes the obviousdecision's just right there in
front of you.
I think the thing that I likethe most about working with you
on this particular project themetal building financing, the
woodshed financing it's so easyto use and there's so many
options for us on the dealerlevel that don't cost us any
(21:46):
money.
Let me reiterate that to youthere are a lot of opportunities
here that don't cost you anymoney and give your customers a
beautiful opportunity to havesomething that might be on an
RTO, significantly moreexpensive for them, on a monthly
payment.
And a lot of those customersthat have worked and scraped and
scrounged to have those goodcredit scores don't necessarily
(22:10):
want to take an RTO monthlypayment.
You know, Joel, I think you'vetaught me a lot about suggestive
selling, making customers.
Like you said, you can take a$20,000 building cash and turn
it into a $35,000 buildingfinanced Customers.
All the time they are paymenthappy.
They would be happy.
Hey, I'm happy with a $400 amonth payment.
(22:32):
What can I get for $400 a month?
Well, let's talk about it.
What have you seen, Joel?
I know we're not your only.
You've got gosh.
Dozens and dozens of clients atthis point them, but just to
speak a little bit about therent to own, and I think that
(23:01):
there's still a great spot forrent to own, especially on the
smaller buildings.
Joel Oney (23:06):
And the thing about rent to own I always tell folks
the reason it's a little moreexpensive is because the
customer has all the flexibilityin the world.
Right, it's not somethingthat's going to be on their
credit report, it's amonth-to-month contract.
On a rent-to-own contract,Someone can at any point in time
say you know what I reallydon't want?
this building anymore or I'mmoving.
(23:26):
Can you please come pick it upright?
And so, for that flexibility,you know you get a little higher
payment right for thatflexibility, and so that's
really what you're paying for isto rent that building month to
month and with that flexibilityof a rental contract versus a
loan.
If you said to the bank OK, Mr.
(23:47):
Banker, I really don't wantthis building anymore, I'm
moving, can you?
You know, can I stop making myloan payments?
Now They'd say no, you need tokeep making your loan payments.
And so, I just wanted to drawsome distinctions between
rent-owned, because I don't wantto come away by disparaging the
rent-owned.
(24:07):
For a lot of folks, rent-ownedis a great answer, and for a lot
of people selling it's a greatanswer, and so I think that I
want to underscore that.
But the financing just givesyou some things that the
rent-to-own can't provide, andso that's why we went and found
this just additional solutionfor the marketplace.
So, Katy, I don't know, youtell me, what else would you
(24:31):
have to say about that?
Katy (24:33):
Yeah, we've got over 70 merchants now that we work with
and of course Dayton Barns andyou know, sometimes we'll have a
customer say that they'restruggling with getting some
(25:06):
deals over the counter.
But once they start offeringthat financing up front, up
early, they get a lot more dealsover the counter.
Jared (25:15):
I do think it's a really good complimentary piece and
I'm glad you brought that up thecounter.
I do think it's a really goodcomplimentary piece and I'm glad
you brought that up, Joel.
I do think that you know.
Obviously, I want to give youknow our weekly shout out to our
partners over at Sheds Direct.
Those guys do a great job.
They have a really nicein-house RTO program, but we
also utilize J Money on thefinancing side of that with Wood
Sheds and I think that thattransition, that really nice
(25:37):
balance between the two, becausethere are some folks that you
know obviously are not going toqualify for financing and that's
a discussion that can besometimes difficult.
But when you have that backupoption where it's like, well,
you know, I can't get you thefinancing, unfortunately, but I
can get you a really aggressiverent to own product, that hey,
good news is you're going to beapproved for and we can start
(25:59):
that right away.
How's that sound?
I think that's really thetransition that you're talking
about, right, Joel?
Joel Oney (26:04):
Yeah, I think so.
I think that there's going to bea place for the rent-to-own for
a long, long time, and justwanted to underscore that piece
of the conversation.
But you're right, as simple asit is to do the prequalification
with the platforms that weoffer, a person can go down that
road and check that out firstreal easily with a soft credit
(26:25):
pool, and it's just a simplething to work into your sales
process, completely paperlessand easy and efficient.
And I think that those are someof the things that, eric, when
we first started on this path,we were like looking at must
haves.
It had to be paperless, had tobe fast, had to have a soft
credit pool kind ofpre-qualification, and had to be
(26:46):
real easy to work into yoursales process and all these
things.
It had to have at least a fewoptions that were free for you
to offer, which, Jared, youspoke to as well.
But then also, you know, if wehad some promo rates that we
could use, you know, to defersome payments or do some
interest-free programs, you knowthose are nice options to have
(27:07):
as well.
And so, yeah, all of that, Ithink, was what evolved out of
some of the early conversationsthat we have with you guys.
Eric (27:23):
Yeah, I think overcoming obstacles in the sales process.
I think I hear the question doyou guys offer financing Without
looking at a spreadsheet?
Because it's probably somewhereI'm going to assume it's
between a third and a halfEverybody asks that question,
probably within the first chunkof conversation, like that first
initial.
If they're chatting back andforth, I would say that's
(27:45):
probably one of the number onelead time.
And then do you guys offerfinancing?
Because they want to know isthis something I can bring my
wife or my husband?
And if yes, what are the?
What are the details on it?
And then you have overcomingobstacles within that.
So, if it's yes, we do offer it.
Then it's trying to figure outokay, what is your credit
worthiness?
And then what is it that I canoffer?
(28:05):
Because I think what you justsaid those promos gosh, they're
great.
It might cost a little bit 2%or 3% off of like but without
getting into too many details, Imean it's something you can
offer as a, as a give back tothe customer.
Like, hey, you don't have tonecessarily take this free one.
You know that's probably formaybe a lower tier on the credit
(28:28):
score.
You know, someone with a highertier is probably going to
expect a little bit more, andyou can overcome that obstacle
just basically by knowing whatyou guys offer, so that you can
give you know.
Hey, how about this set youknow, and it doesn't.
You'll lose the customer if youdon't.
Jared (28:42):
So so anyway.
I think I want to piggyback onwhat you just said, eric,
because I think for the peoplethat don't ask the question, I
think having it in your arsenalto tell them, hey, I can get you
this building today on apayment of a few hundred dollars
a month, I think that extratrick in your bag of toys is
(29:03):
probably a really good play.
I mean, I use that a lot.
I would say probably a third toa half of the customers that I
personally interact with willcome at me and say, hey, do you
guys offer financing?
What can I do on a payment with?
Will come at me and say, hey,do you guys offer financing?
What can I do on a payment?
That other half I'm almostalways leading in with hey, your
(29:25):
total's this and your paymentcould be this and we can get you
right now with no money downand go from there.
And I think that you cannot puta value on that, Joel.
I mean, like I said, well, Iguess you can put a value on it.
It's about $5 million in sales.
I mean that's the value, right?
I mean that is the valueproposition is that is almost $5
(29:45):
million in sales that DaytonBarns has produced over the
course of about two years or sothat we've been doing it and I
mean that is a crazy number,Joel.
I mean that's a.
That is a crazy number, Joel.
I mean that is that is.
You know, that's 20% of ourgross sales, something like that
Right, Eric.
I mean that's.
That's a crazy number.
Eric (30:04):
Perspective is I've done a hundred K of prequels in the
past week, so and and normally,if you get them if you get them
pre-called and it's green andthey know what they can have.
Jared (30:17):
Like that close rates probably 75 percent like, unless
they just flat out most of youat least so.
Eric (30:21):
But I was going to share this because I was talking about
, like, how you, like there aretimes and this is no, uh, this
is from a humble perspective,but like wood dealers out there
and metal building dealers, likewhen you have j money on your
team, here's what you can do.
I took a fate, a Facebook phonenumber.
I called the customer inArizona, wrapped with them for
an hour.
We eventually hopped on agoogle meet.
(30:43):
So I was face to face with them.
I did a pre, quoted thebuilding, did a pre-qual with
them.
They signed the paperwork andthey gave me their credit card
info for a cash down payment andI got off the phone.
I literally took in one phonecall, took them from not knowing
me or us to quoted the building.
Now we're face to face.
This guy and his wife comes inand they got a pre-qualified
(31:07):
right there on the spot, didn'teven hang up, but I just sent
them the link and they and I'verefreshed it, they had it send
them the document.
I mean wham, bam, you know,2500 bucks later, dude, I mean
and I remember I got off I senta message to our corporate chat
on our back end system.
Like I'm like you guys can'ttouch me.
I'm like you know I wasbragging about the sales.
You know how I did.
I you know I'm like.
(31:28):
I'm like I literally justsolved this person's problems in
one hour.
That guy did not have abuilding ordered and then he had
it all done and figured outlike in 90 minutes.
And I'm like why would you notuse j money?
I mean like to me, like you arefoolish I agree with you, yeah
I think it's
Joel Oney (31:47):
the ease of use.
Jared (31:48):
It's the ease of.
It's the ease of use, though.
Katy (31:51):
Yeah, I mean really yeah, go ahead, Katy yeah, you touched
on a few more perks of theplatform right there the
pre-screen feature.
You can get someone's first andlast name and their address and
you can know if they'repre-qualified before even
talking to them.
And since he's in Arizona, youcan even text email the
(32:12):
application over to them if theydon't feel comfortable, you
know, giving their social overthe phone or something like that
.
You can text your customertheir apple application.
They have it in their hands andthey log into the platform
through an app to make all theirpayments.
It's very easy to use.
Jared (32:28):
I think that's.
My favorite part of theplatform is that I can be on the
phone with a customer and Idon't have to collect any
personal data from that customer, and they can get a credit card
basic.
It's basically a credit card,right?
It's a?
It's a purchasing power.
Let's say it that way, right,Joel?
That's how I would describe itthat's probably gives you.
Joel Oney (32:48):
Probably it is a term loan, yeah, so which is very
different.
It's a credit card, but it doesit gives you correct, correct
what it does yeah.
Jared (32:56):
So, you've got to now.
You've got now a purchasingpower with that customer to say,
man, you're not only approved,but you're approved for this
amount of money.
Oh well, you know what's thatgoing to be?
On a monthly, you get all thesetools in your portfolio to be
very dangerous with.
And again, another call toaction for today you can't have
(33:16):
too many tools, you cannot havetoo many tricks, because
sometimes customers are going tohit you with well, how much is
that going to cost me per month?
And if you're not using theright financing product or if
you're not in control of the endbag which we've used I mean,
eric, we've used some otherfinancing products.
So, I'm going to, you know, I'mgoing to let those guys be
themselves, but I can tell youthey don't give you the tools
(33:38):
and they don't give you thecontrol that you get with J
Money.
That's for sure, not even close.
Joel Oney (33:45):
And I'm going to touch on something that Eric
said too.
He said well, I was helping tosolve someone's problem, and I
think that's what we do in life,right, if we do enough of that.
You help people solve theproblems for storage, buildings
and sheds.
We helped our customers solvetheir problems for needs for
financing.
You referred to me as thegodfather of your business.
(34:08):
That might be a bit of anoverstatement.
I'm just a simple country boythat grew up on a dairy farm in
northern Ohio.
My older brother took over thedairy farm, so I had to find
something else to do in life.
So, I went into banking and wasin banking for a lot of years.
But that's what I've done allmy life is just help people
solve their problems throughfinancing solutions, and that's
(34:30):
what you guys are doing withbuildings.
You know, and even when I metKaty I'll let you talk about
when you and I met I was in needof some help and Katy put
herself out there, sat down nextto me at a 4-H Foundation
banquet.
Katy, tell a little bit aboutthat story, about how we met.
Katy (34:47):
Yeah, so I guess it's been about a year now, almost on the
dot.
They invited me to come up tothis banquet and meet some of
the foundation members.
I was next to Joel and I got tostop talking to him for a while
.
He talked about his 25 years inbanking and I shared my puny
(35:08):
little four years in banking andwe got to start talking through
that.
And then I told him a littlebit about my business in West
Virginia where I was buildingsome tiny homes.
So we kind of matched upperfectly on what he was doing
and I wasn't necessarilyshopping for a job but he stole
me.
Eric (35:30):
It's a good guy to sit next to at a banquet.
Katy (35:33):
Right, it worked out really well.
I got free dinner.
Eric (35:35):
You're leaving with something.
Katy (35:37):
Exactly.
I did not expect that.
Joel Oney (35:41):
I'm leaving with something, yeah yeah, I, I think
I I said something, maybe righton the spot, that was along the
lines of uh, would you want towork for me?
Katy (35:52):
yeah, while we were sitting there.
Yep, beautiful.
Joel Oney (35:57):
You know, I don't think the world comes to those
who put themselves out there andtry to help others.
You know so.
I don't think the world comesto those who put themselves out
there and try to help others,you know.
Jared (36:04):
I don't think you know a stranger though, Joel, to be
honest with you.
I mean I've shared meals withyou, we've hung out, we've done
trade shows together.
I don't think you don't knowanybody.
I mean you know everybody,right.
Joel Oney (36:17):
I think there's a lot of people I don't know out
there, but I've never met astranger.
I guess is the thing.
Jared (36:23):
There you go.
Joel Oney (36:23):
There you go, just like you guys.
You know you guys have gottenahead in life too by, you know,
putting yourselves out therewith a lot of strangers.
You know, and I think if you,if you do that enough in life,
it makes life so much more notonly successful but rich.
You know your life is rich withall these connections that you
have.
And had I just gone to thisbanquet and sat in the corner
(36:46):
and not had a chance to sit withKaty, or vice versa, who knows
my life would not be nearly asrich today.
Or if I hadn't have made thatU-turn on Interstate 70 and gone
back and visited Dayton Barnsto try to make some success out
of a day in Dayton, you knowwhere would life be today?
Who knows, it might besomeplace different, but it
(37:07):
definitely wouldn't be as richas it is now.
Jared (37:11):
I talk about that all the time because it's singular
moments that create lifetimeresults.
I know I'm trying to come upwith cliches right now, but
these moments, you know, in time, where one thing goes one way
versus another and all of asudden I'm standing in an office
(37:32):
space with 15 employees and I'mselling metal buildings and
woodsheds across the UnitedStates.
With I mean somebody who'simpacted my life in a way that I
can't even express to you,right, and that came about
because I bought a metalbuilding.
I bought the metal buildingfrom Eric and my life changed.
One singular moment in timecreated lifetime results and I
(37:54):
think for you know, for Eric itwas, you know, moments in his
life, Joel.
It was moments in your life,Katy, moments in your life, you
know where impact from otherpeople that you might not have
gave a chance to.
You know what I mean.
You might've passed it up and Ithink I can't stress enough.
You're listening to thispodcast or watching us.
(38:15):
Because of those singularmoments in time, a couple of
dominoes fall a different way,and we're not even doing this
together, which would be a realshame because I'm having such a
good time doing it.
Katy (38:27):
Well said, I hate public speaking, I hate schmoozing.
I don't want to go to a banquetand talk to people.
I hate it.
But I went outside of mycomfort zone and, like you're
saying, you don't grow unlessyou're outside of your comfort
zone.
So, like you're saying, youdon't, you don't grow unless
you're outside of your comfortzone.
So here I am today.
Amen.
Jared (38:46):
I can tell you.
I can tell you that you'veimpacted the J Money team quite
a bit in the year that you'vebeen there.
I mean, it's you know.
So, we're going to talk alittle bit.
So, I want to wrap up right now.
This is this is going to be atwo-parter, based on our time,
because I want to talk more toyou guys next week on the
podcast.
So, what we're going to do nowI'm just going to tie this up
(39:07):
really quick with a loose bow.
Check out the team over at jaymoney.
If you haven't picked up onthat on this call, believe me,
we're going to have another onenext week.
We're going to get into thenuts and bolts of how the j
money team created the steelkings podcast with our partner
over there at shed, geek Shannon, and we'll talk a little bit
more about financing options.
(39:28):
Eric, what are you thinking,brother?
What's your, what's your endmessage for this week?
Eric (39:32):
and we'll go around the circle my, my end message is
that if you're a shed dealer ora metal building dealer and you
are maybe hesitant aboutbringing on another solution
because you're being stoic likeI'm knocking you in the head
virtually currently and say wakeup, because there is a solution
(39:52):
out there that we've masteredit, you know so.
So, if you're not using j moneyand you and you want some
finance options and maybe you'rea little hesitant about it,
reach out to Joel or Katy and,of course, reach out to Jared or
I too.
You guys know it's Jared atDayton Barns and Eric at Dayton
Barns If you want some info orhow things are going our way,
(40:14):
you are foolish to not bringthem on.
And what a better time.
It's February 17th in Ohio.
You've got about a month beforeit starts heating up, so it's a
good time to try to get outthere.
Jared (40:25):
You're going to hear this podcast.
You're going to hear thispodcast basically one month from
when it was recorded.
Okay, so let me give you thatheads up right now, guys, if
you're hearing us which I knowyou are because you're listening
contact the guys at J Money,which I know you are because
you're listening.
Contact the guys at J Money.
Money 19377 J Money.
(40:45):
They are here to help you onyour financing metal buildings,
wood sheds.
If you're a contractor, hitthose guys up, Joel.
Joel Oney (40:56):
Katy, you got anything?
Before we say goodbye forthis week, I just am thankful
for the day that I met you guysYou've enriched my life and
happy to do the same for youguys as well.
Katy (41:07):
Katy yeah, get outside your comfort zone, give me a
call, give me an email.
We can have you.
Jared (41:14):
offering financing within a week Sounds good.
Guys.
We're going to talk to the JMoney team again next week on
the Steel Kings podcast.
I'm Jared, he's Eric.
We're the Steel Kings.
We'll talk to you guys later.
Have a good week.
Eric (41:25):
Let's go.
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