Crestview, Fla. — Bob Sires likes to invest in boring businesses. Vitamins, plastics, you name it.
“A lot of the flash-in-the-pan stuff I don't understand, so it kind of scares me a little bit. Boring stuff works,” Sires said, pointing to the strong cash flow of the $1 billion U.S. cable tie market.
Boring, maybe. Profitable, definitely.
The story of Bay State Cable Ties LLC changed dramatically when Sires relocated it to Florida 11 years ago when sales were $1 million. “We were not a manufacturer. We just purchased product and resold it,” the CEO and founder said.
Now, manufacturing has sparked annual double-digit growth with sales pushing $25 million. Employment has reached 110. Sires says $50 million in sales is well within reach in five years. Why?