Today's discussion continues discussion about the volatile, but ever-so-economically-important, construction industry, especially those specialty contractors who specialize in a piece of a construction project. Minor Hart has created a company that renovates elevator interiors - and only elevator interiors.
Changing out anything in an elevator cab takes precision because everything in an elevator is carefully calibrated to be exactly balanced by the counterweight. For example, changing from carpeted flooring to granite floor tiles disturbs the calibration, bringing in the state elevator inspection agency who will require expensive load testing.
The elevator industry is booming with projections that resemble the proverbial hockey stick. The elevator industry is a $65 Billion piece of the construction industry pie and about half of that $65 Billion is in cab renovation. Once an elevator is installed in a building, from then on it is common to update and remodel the elevator cab and electronics rather than pull the entire cab, controls and cables out of the elevator shaft and replace it with an entirely new system.
A century and a half since the elevator was first invented, 20 Billion passengers use an elevator in the US and Canada annually. Those passengers add up over time and about every 7 to 10 years, an elevator cab needs to be refurbished. Minor Hart talks about building his business around this construction specialty.
FEATURED IN THIS EPISODE
Minor Hart is a graduate of the University of Central Florida and launched his business 4 years ago after working for elevator manufacturer, ThyssenKrupp Elevator for a number of years. Seeing the need in the marketplace for a full-service elevator cab renovation service, he and his wife, Katie, launched Custom Elevator Interiors.
Lee Newman has a Bachelor Degree in Business Management with a minor in Engineering. His career started in Real Estate and continued into Property Management and Construction. Through the construction years the opportunity rose to start a retail/trade business dealing with Tile and Stone products from all over the world. His experiences in construction and business management helped he and his wife build the retail/trade business for 18 years. He now shares some of these experiences by volunteering for SCORE as a Mentor.
Palm Beach SCORE
Palm Beach SCORE is a non-profit who's mission is helping local small businesses, startups and entrepreneurs grow and thrive by offering mentoring, workshops, business consulting and counseling services, networking opportunities, events and partnerships within the Palm Beach / South Florida business corridor.
SCORE-ing Your Business' host Penny Pompei serves as Chapter Chair for our local Palm Beach SCORE Chapter #224, located in beautiful downtown West Palm Beach.