Albert Cunningham began his career as a manufacturer’s representative in the medical equipment…

Albert Cunningham began his career as a manufacturer’s representative in the medical equipment business. Included in his lines were products imported from several European manufacturers. Albert’s business gradually evolved into Kent Imports Ltd., a wholesaling business that bought medical equipment from European manufacturers and sold it to retailers through a sales organization. By purchasing medical equipment in large quantities from European manufacturers, Kent Imports was able to negotiate favourable prices and reduce shipping costs substantially. Furthermore, the company was able to ensure delivery to customers because orders could be filled from a Toronto warehouse rather than from a European location. In 2010, Albert retired and turned over his business to his son, David. At that time, revenue had reached $13 million a year and profit for the year was in excess of $400,000. By late 2012, David could see that revenue for the year was going to be less than $12 million and that profit would be about $200,000. He decided to hire a marketing manager who could boost revenue quickly. David contacted an executive placement firm, which recommended Ross Belman. Belman had a record of frequent job changes but had produced very rapid revenue increases in each position. He stayed with Kent Imports Ltd. for only 12 months (leaving in November 2013). In that short time, Belman was able to increase revenue from $12 million to more than $18 million. Furthermore, profit for the year s

 

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