Regency Technologies has eight locations across the US, and they’ve been recycling, testing, repairing, and selling electronics since 1998. That’s a combined 24 years! From the east coast to the west coast, spanning all the way from Olympia, Washington to Atlanta, Georgia, they’ve made a name for themselves in the world of ITAD and electronics recycling processors.
Regency is an R2-certified company that works with retailers, healthcare and financial organizations, as well as government agencies and educational institutions, to audit and test retired electronics and properly recycle IT equipment. What’s more, overstock electronic goods and functional items get listed on our very own B-Stock Supply, a multi-seller marketplace where approved buyers can purchase returned, excess, and refurbished inventory from hundreds of different sellers all in one place.
We sat down to chat with Regency to hear their journey selling on Supply and beyond. In this edition of B-Stock’s Community Spotlight: Meet Eric and Jim Levine of Regency Technologies!
The Beginnings of Regency Technologies
The company was started over 20 years ago now in 1998. Eric’s father, Jim Levine, heads the company, and nearly 1,000 employees spread across their eight facilities. What started as a small shop refurbishing and remarketing IT equipment, later pivoted to include the resale and recycling of electronics and appliances. You could say Regency was a part of the circular economy before that was even a phrase!
What Regency specializes in
The primary part of their business serves as an ITAD and electronics recycling processor. Old and returned electronics products that need recycling, or equipment testing and auditing process to fix and refurbish equipment. Regency recycles more than 150 million lbs. of end-of-use electronics annually!
On B-Stock Supply, you can find Regency listing consumer electronics like video and audio equipment, tech accessories, and appliances. Which get put up for auction and can be bid on by registered buyers on the platform.
R2 certified recyclers
When you are a recycling processor, you must abide by quality, health, and environmental standards. Regency has been R2 certified for 13 years. This was what Eric had to say:
“Anybody who is doing resale in the electronics world, it’s definitely smart to be doing it. And not just for the business, but I believe in those certifications for environmental purposes and proper practice for a business so that people are following the right guidelines to be environmentally responsible. That’s what all that stuff is in place for.”
Footage from Regency’s feature on Discovery Channel’s Tomorrow’s World Today
Keeping things in use
On the other end of their business, there is also the opportunity to keep things in use. Which is the kind of inventory that Regency lists on B-Stock Supply. In Eric’s words, “It makes more sense to be able to fix and test things and sell them back to people at a discount who have an interest in using that stuff.” On a case-by-case basis, of course.
An example Eric gave was on scratch and dent appliances, which are still fully functional:
“Does it makes sense to break down a fridge and get it back down to raw materials like metal, plastics, and glass or does it make more sense to try and get it to someone who has a functional use for that refrigerator to keep things cold?”
He gave another example with consumer electronics:
“Say we get a bunch of old phone cases, these aren’t necessarily tablets or phones, but we’re not just throwing them into the recycling machine either. We’ll sort them out and put them back into the market because there are still people that can use these phone cases.”
Q: What motivated you to get into the business?
For me, having grown up around this, there were a number of years I was not involved with it. I went to college and studied business and music, and then pursued arts out in the real world—which were all fantastic experiences. I just hit a point where I was ready for a more traditional type of career.
It’s a good business and environmentally focused, and I’m definitely an environmentalist. What this company does is very much in line with my core values as a person; to be able to put those things together is a blessing, and to do it with family and others that I have worked with for years, is very cool.
Q: How has B-Stock Supply helped you/ your business?
The biggest way B-Stock has helped us is: it’s a good online presence and it’s a great way to connect with other businesses you wouldn’t have otherwise been able to connect with without a platform like this. There have been new companies we’ve been introduced to through B-Stock. Some of them come and go, and these may be one-time transactions, and some businesses become returning, regular customers.
The biggest thing that I’ve noticed is that the customers that are returning and care about it…there is enough equipment where other companies are able to sustain their own businesses and follow their dreams as a result of what we’re doing. We got a letter from one of the sellers thanking us for what they were able to purchase and how they were able to start this small business. It was very heartwarming to see that happen.
Lessons learned along the way
Being a part of the bigger picture
Doing business at the wholesale level is different than just selling one item to end consumers where you’re trying to make as much profit as you can. You’re working on a business-to-business platform, which means individual buyers are using this inventory to fuel their own businesses!
“You’re working with other people that are pursuing their interests and their dreams and starting their own businesses through that material supply. It’s cool to be a part of it, I know we’re just a small part of it, but at the same time, everyone who gets involved is definitely trying to push that narrative forward.
Eric illustrated this point even further:
“Some people who are customers on the platform have been able to sustain their business and put food on the table for their families because of what you guys [B-Stock] are providing as a marketplace.”
Patience and perseverance
When you deal with large volumes of materials and so many moving parts, it’s important to put things into perspective. Simply seeing yourself in the shoes of everybody involved can go a long way.
“Sometimes certain things that happen on a day to day can seem very extreme. You have to zoom out and realize what you’re doing, who you’re working with, who these people are that are either buying or selling, and where it fits into that spectrum of the food chain. Maybe one thing that seems like a big deal today, like an overcharge bill on a freight shipment, is not an end-all-be-all. Sometimes it takes a deep breath and a little patience. Every single day you go in, there’s always going to be a little left for tomorrow.”
Navigating COVID-related issues
Recent supply chain issues continue to rock industries around the world. Regency shared the same experience that many other businesses did during the peak periods of the pandemic. From freight logistics and transportation to managing labor shortages and other disruptions.
“Weathering that storm while sustaining positive business throughout that time period has definitely been a challenge but it has not been insurmountable. It takes a lot of character and perseverance and a lot of people working together to make it happen. It may not have always been smooth but we’ve gotten the job done.”
Find Regency Technologies on B-Stock Supply!
On B-Stock Supply, you can find Regency listing large volumes of tested electronics equipment, overstock goods, and appliances! For more information on their services or company, visit their website here or give them a follow on Facebook.