Surviving the First Five Years

Wed, Jun 24th 2015, 11:11 AM

What started out as a $5,000 home-based start-up has grown into a group of four companies valued well-over $1 million.

As Bahamas Striping celebrates its fifth year anniversary, company executives pointed to expansive local and regional growth plans as proof that the asphalt rejuvenation and striping business will continue to withstand the test of time.

Whether it was competing with foreign based companies that for years benefited from a local monopoly, or accessing capital funding, or whether it was seeing its state of the art office complex and manufacturing plant rise from a rocky ground, Bahamas Striping has faced more than its fair share of challenges.

"We faced many a daunting tasks on our journey to becoming the leading striping and road maintenance company in The Bahamas," said president of Bahamas Striping Group of Companies (BSGC), Atario Mitchell.

Today, the group of companies encompasses Bahamas Striping, Airport Maintenance Services Ltd., Caribbean Pavement Solutions Ltd and BSGC.

Collectively, the group has trained and employed 13 Bahamians from the capital and Grand Bahama.

Recently, the company cemented a deal which would help the government secure up to $50 million in infrastructural funding from the Export-Import Bank of the United States at low interest rate of 2.69 percent.

The money from that public-private partnership (PPP) would go towards BSGC's proposal to the government for airport and road maintenance work on 10 islands.

"Our plans for the next five years is to strategically move forward with our proposed PPP initiatives that are designed to address chronic safety deficiencies across our nation's road networks and Family Islands airports," said the company's managing director, Dr Allen Albury.

The company has estimated that it will utilize at least 75 local persons per Family Island, making for a total employment figure of 750 additional workers.

"Our medium term goal is to construct a manufacturing plant in Grand Bahama for our environmentally friendly, cold patch asphalt rejuvenation product which is used in pavement maintenance and repairs of potholes," Mr Mitchell told this media house.

"We also have plans to ultimately exit the road rejuvenation business and focus on franchise development opportunities for entrepreneurs to retail our road rejuvenation product line. At that point, our primary business focus would be airport maintenance and product manufacturing. Ultimately, we intend to export our product and services throughout the Caribbean."

The young company quickly gained a reputation for providing excellent service. Brand loyalty from its clients coupled with fiscal prudence resulted in each of the companies owning all materials, equipment and vehicles free from liens and being virtually debt free.

And, when it could ill afford to be generous, Bahamas Striping embarked on a philanthropic path.

"We believe in giving back," director of business development, Dominic Sturrup. "That's why we established our 'The Dollar That Could' project."

In 2013, its launch year, the program raised $16,000 for four charities.

This year BSGC is committed to giving up to $50,000 in charitable donations with up to $30,000 earmarked for New Providence and up to $20,000 in Grand Bahama.

Charitable organizations expected to benefit from this initiative - based on BSGC attaining key sales targets - include Rotary, R.E.A.C.H and Bahamas National Trust in the capital.

Grand Bahama charities include The Grand Bahama Children's Home, The Grand Bahama Humane Society and Rotary Grand Bahama.

To date, the company has sought to do good for others via its hurricane relief giving, back-to-scool program, Christmas giving initiative and its re-striping program which has seen 36 basketballs courts and other worthwhile road improvement projects receive a face-lift.

Bahamas Striping executives (l to r) managing director, Dr Allen Albury; president of Bahamas Striping Group of Companies, Atario Mitchell; director of business development, Dominic Sturrup and Brian Bostock, training manager at BSGC. Photo by Bahamas Theme Photos

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