Thomas Panek
Holly, MI (USA)
Role(s):
Founder/Owner/Principal
Progressive Glazing & Fabrication, LLC
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Startup
Location:
Holland
Industry:
Manufacturing
Year Founded:
1991
Number Employees:
50-100 people
Description:
Progressive Glazing & Fabrication (PGF) is being established as a holding company with full ownership of its business entities, which will manufacture select quality glass-based products for the home improvement industry. The companies will focus on the manufacture and wholesale of vinyl replacement windows, patio enclosures including screen rooms, sunrooms and conservatories, along with basement finishing systems. The current market for these products in the US is estimated to be $35-40 billion dollars and despite the current economy, 2 of the 3 segments (windows and basements) have grown steadily and are expected to continue to grow through 2013, beyond which there are no forecasts available. The patio enclosure segment has declined, but PGF plans to resurrect lower end patio options and capitalize on its new conservatory acquisition by lowering prices on this more esthetic option, allowing its dealers to capture market share from the mid-to high end enclosures.
PGF plans to capitalize on its window manufacturing expertise by investing in similar businesses (sunrooms and conservatories). Risk is minimized with the addition of the basement finish product line as well as the different product segments, so that the company is not relying on any one product to achieve growth. In fact, it can adjust and capitalize on whatever is “hot” in the market at any given time.
The principles and much of the staff offer years of experience in the industry, so any learning curves will be minimal. Alliances with top wholesalers/retailers such as Sam’s Club, BJ’s Wholesale Clubs and eventually Costco provide solid lead generation venues while offering dealers exclusive, quality leads and adding to brand recognition and image for the company’s products.
The company plans to maximize the return on investment expenditures by achieving economies of scale through consolidation of manufacturing sites. The company is investing in state of the art software to market, sell and manufacture its products, leveraging its technology to maintain a competitive edge. Ongoing research and development of product enhancements and for new product offerings form a proactive rather than reactive approach to market share maintenance.
Growth projections are realistic, achievable and sustainable in today’s economy. The immediate investments proposed, when implemented, will position the company for significant growth when the economy rebounds.