7/14/2010 1:04:00 PM
MEDIA SPOTLIGHT
Canadian fastener distributors Jennifer Knapp & Jim Knapp were high school sweethearts who not only got married 25 years ago, but started Knapp Fasteners Incorporated 23 years ago.
TheRecord.com of Ontario reported Knapp Fasteners is about to double its size and this year will have sales of close to $10 million.
Knapp Fasteners distributes fasteners to aerospace, military and manufacturing companies in 15 countries.
“Looking back it was a real strength doing it together,” Jennifer Knapp told Record reporter Frances Barrick.
“We have just been personally, and in business, very compatible,” Jim Knapp added.
In 1987, the two 25-year-old Conestoga College business graduates were working at separate fastener companies when they decided to start out on their own.
“With a $15,000 business grant and $3,500 in savings, the couple opened up shop on Colby Drive in Waterloo,” the Record reported. “In the first year, sales totaled $200,000 and the Knapps received a local young entrepreneur award. Their office had no heat and they had to use a fax machine from a neighboring business because they couldn’t afford one.”
The Knapps survived the early years of cash-flow problems and long hours. The two of them did everything from sales to packing and making deliveries.
In 1989, they moved to more space in Waterloo and stayed until building a 25,000-sq ft warehouse and moving in earlier this year.
Now the Knapps are negotiating to supply more products to current customers in hopes of doubling sales and expanding the new building within five years.
Knapp Fasteners Inc., 520 Boxwood Dr., Ontario N3E OA6 Canada. Cambridge Tel: 519 653-4558 Fax 519 653-0294 Email info@knappfast.com Web: knappfast.com
©2010 GlobalFastenerNews.com
MEDIA SPOTLIGHT
Editor’s Note: Articles in Media Spotlight are excerpts from publications or broadcasts that show the industry what the public is reading or hearing about fasteners and fastener companies.
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