If you’ve ever been through a major remodel, then you know that it can sometimes be a very frustrating and stressful experience.

Two years ago, my wife and I underwent a major house remodel. I’m not talking about a simple paint job or kitchen makeover. I literally ripped half my house down along with my old garage. Then, I rebuilt from a new foundation on up.

It was a massive undertaking. And as excited as we were to be expanding our space and remodeling, it was grueling.

It could have been because we were living in a camper trailer in our front yard along with our first child, who was just 8-months old… Or dealing with subcontractors, inspections, and missed deadlines… The bickering with the wife over appliance packages, paint color, flooring choices, or cabinet styles.

Perhaps it was the financial stress that such a project — and unexpected added expenses — create.

In the end, though, everything turned out great. And my wife did an excellent job designing and picking out everything. However, while she had the final say in almost everything on the house, I told her she had to leave the patio to me.

You see, I love being outside. And I wanted to make our patio into a space that I’d be proud to host an outdoor cookout.

There’s something special about cooking and grilling outdoors. Ribs, brisket, pulled pork, tri-tip, chicken thighs, hamburgers, and brats… I take a lot of pride in grilling up some tasty meats — and I don’t mind paying up a little for the tools to help me do it.

The reason I bring this up is because, apparently, I’m not alone.

[Related: In An Uncertain But Bullish Market, Here Are 2 IPOs I’m Watching Closely…]

Outdoor Grilling Is Big Business…

Right now, we’re in the full swing of outdoor grilling season. And according to the market research firm Frost & Sullivan, the global total addressable market (TAM) for the outdoor cooking market is $49 billion, and $9 billion in the United States alone.

And in the last couple of weeks, two big grill makers filed to go public — and I plan to keep a close eye on them when they do…

About two weeks ago, Traeger Grills filed paperwork — called an S-1 — with the U.S. Securities and Exchange Commission, which is the first step toward a public offering.

Traeger is known for its wood-pellet fire smoker/grills that are becoming increasingly more technologically advanced. Traeger’s technology allows users to monitor and control its connected grills through a smartphone or Apple Watch.

Traeger just purchased a company called Meater earlier this month, which is a wireless meat thermometer company.

The company, now based in Salt Lake City, reported in its SEC filing that it generated $32 million in net income on sales of around $546 million. That was a massive spike over 2019’s $363 million in revenue and $29 million in net losses.

Traeger’s grills aren’t cheap. Its top-of-the-line Timberline series, with all the bells and whistles, will set you back $2,000. You can still buy its original generation grills for about $600.

I’ve been a fan — and owner — of Traeger grills going back to 2010. And I will say that outside of smoking and grilling meats and vegetables, cooking bacon on a Traeger will produce the best bacon you’ve ever eaten. Plus, it doesn’t stink up the house and leave you with a grease mess to deal with.

It can take anywhere from three to six months for Traeger to go through all the steps to become a publicly-traded company, but it has filed to trade on the New York Stock Exchange under the ticker “COOK.”

The other grill maker that filed its S-1 is Weber. The company is known for its dome-shaped charcoal grills and is a leader in the grilling space. It now offers gas, pellet, and electric grills as well as smokers.

The company boasts a 23% market share in the United States and a 24% market share globally.

The company sells its products in 78 countries and had 2020 sales of $1.5 billion, according to its filing. It also said that revenue for the six months ending March 31 grew 62% annually to $963 million.

Estimates have the company going public at a valuation of up to $6 billion. It has also applied to trade on the NYSE under the ticker symbol “WEBR.”

A Big Year For IPOs

The reason I bring all this up is because it’s been a big year for IPOs so far. More than 200 IPOs started trading this year, which is up significantly compared with last year (which is reasonable given the health pandemic). But even comparing it to the first half of 2019 — where 80 companies went public — the numbers have skyrocketed.

So far, the class of 2021 IPOs has collectively raised $80 billion, also a massive improvement over the last two years.

Some big names have finally found their way into the public space this year, including the increasingly popular “buy now, pay later” company Affirm (Nasdaq: AFRM), television manufacturer Vizio Holdings (NYSE: VZIO), and consumer goods brand The Honest Company (Nasdaq: HNST), which was founded by actress Jessica Alba.

Another interesting company that began trading in May is Oatly Group (Nasdsaq: OTLY), which produces oat milk. Traditional milk alternatives have been making big waves over the last few years and formed the blueprint for my position in the alternative meat company Beyond Meat (Nasdaq: BYND).

Other popular companies that debuted this year are gaming company Roblox (Nasdaq: RBLX), Coinbase (Nasdaq: COIN), and Squarespace (NYSE: SQSP).

Action To Take

It doesn’t seem like there will be a slowdown in IPOs anytime soon… There’s the highly anticipated debut of the popular trading app, Robinhood, which filed for initial public offering earlier this month, along with yogurt maker Chobani.

But while there will always be companies receiving all the media attention when they go public, I’ll be keeping my eye out for all the ones that quietly list.

Chances are, if you pay attention to the daily market news long enough, you’ll find an IPO that grabs your attention. There’s nothing wrong with that. It can be fun and exciting to jump on a popular company that’s debuting as a new publicly traded entity, but remember that oftentimes the bigger they’re pumped up the harder they fall post-IPO. So, be patient.

If you’re really excited about an upcoming IPO and everyone seems to be talking about it, give it a few months to see how it does. More often than not, shares will eventually take a hit as the nostalgia wears off and provides patient investors with a good entry point.

That’s exactly what I plan to do with Traeger and Weber.

Remember, the market always provides us with new great opportunities. As Warren Buffett says, “You don’t have to swing at everything — you can wait for your pitch.”

Editor’s Note: Remember, while it pays to wait after a company goes public before putting your hard-earned money into it, that doesn’t mean you have to wait for the chance to hit a “home run” with another stock…

In fact, Jimmy and his team over at Top Stock Advisor have already hit big with several of the picks released in his “predictions” report earlier this year. And now, he’s releasing a “bonus” prediction that you won’t want to miss…

Go here to get the details now.