Over 110 years ago, F. E. Olds founder Frank Ellsworth Olds could never have fathomed what the brand would become by 2021. Founded in 1908, the storied American instrument supplier has mushroomed over the course of the past century, but especially since 2017, when current owner and president David Benedetto purchased two additional brands: Dakota Saxophones and Phaeton Brass. Now three names strong, the F.E. Olds family is poised to serve band & orchestra programs across the country, as they navigate this particularly gnarly time in music education.
David Benedetto first became involved with F.E. Olds in the 1980s, making him present for a major portion of the company’s existence. When the opportunity came for him to purchase Dakota Saxophones and Phaeton Brass from Peter LaPlaca, he saw the potential rooted in both boutique – but professional-grade – brands.
“LaPlaca saw the opportunity to bring two unique lines of instruments to the market that offered distinctive engineering and design features,” Benedetto says. “The stunning finishes for both Dakota and Phaeton set us apart from all other horns on the market. We have a growing roster of endorsing artist for both brands who use the instruments for rehearsing, performing, and recording. All of our artists grew up playing other brands, so their switch to Dakota and Phaeton tells us we have very special instruments that they rely on for their livelihood.”
All three brands are made overseas, but Benedetto recognizes the unique benefits that come with having intimate relationships with the companies’ longtime manufacturers. F.E. Olds products have been made in China for the past 10 years, and both Dakota Saxophones and Phaeton Brass have been produced at separate Taiwan-based factories that specialize in horn instruments.
“Our close relationships enable us to suggest changes and improvement to constantly refine the products,” Benedetto says. “This give us a great deal of manufacturing consistency which is vital when repair or replacement parts are needed – a must for the school rental market. We are sourcing the instruments from different factories that produce what they are best at making. Bringing in product from one source is logistically easier, but doesn’t always bring the best items to market. I have developed strong relationships with my suppliers over the past 10 years. This has been especially important over the past year with the entire world impacted from COVID-19. My manufacturing partners have all seen business almost grind to a halt and are remaining patient until we all emerge from this economic slowdown.”
Even in unpredictable times, Benedetto maintains a balance of smart business practices and genuine attention to the current limitations facing music students and teachers. In light of the hardships brought on by the COVID-19 pandemic, Benedetto says he’s holding dealer prices at the 2020 level, and offering financial flexibility with customers.
“Nowadays the focus for the brand is towards the student market, with instruments designed to help first time players get started on their musical journey,” he explains. “Selling these three brands mean we have products to offer dealer for the musicians just starting out, to one that are moving to the professional level.”
Dakota Saxophones and Phaeton Brass are also priced lower than other brands, offering another level of accessibility to players. Top sellers among all three names include the F.E. Olds NTR110PC trumpet, the Dakota Raw Bronze Series, the Phaeton Las Vegas Trumpet, and the Phaeton performance trumpets with a black chrome onyx finish.
“I have a thorough understanding of the school rental market and have structured the price list to provide both profit margin for the dealer and lower acquisition costs,” he adds. “In addition, a minimum buy-in amount is not required to get started. I see no reason to push dealers to buy products they don’t need just to fill a purchasing requirement. I’ve always believed buy only what you can pay for.”
Prior to pandemic disrupting schools across the country, Benedetto says he felt confident in students’ continued interest in school music and desire to learn how to play new instruments (“People recognize the importance of music as part of their education and they enjoy the fun and social aspects — besides, playing an instrument is an activity you can continue to do well after someone finishes school,” he comments). In the meantime, Benedetto feels that business won’t quite return to “normal” until full-time in-person lessons return, as well.
“Virtual schooling has caused beginning band and the rental of instruments to be almost non-existent,” he shares. “Dealers have told me that their rental business is 10-25 percent of what it was the previous fall. However, I am encouraged that the market will rebound. Now that vaccinations are being administered, it seems more likely that the next school year will be able to be in person.”
“The market is fragile now, but school music business will weather this hurdle as it has so many times previously,” Benedetto concludes. “My job is to set our corporate direction and provide dealers a reason to start promoting our brands. I recognize dealers have many choices when selecting band instruments to sell. I’m here to give them a push in our direction. I believe once they take a look, they will be glad they did.”
