Fibrenew posts record sales
HOLLY SPRINGS, N.C.—Fibrenew, a leather and plastic restoration company, recently announced record growth in franchise sales in the past three years. The company said its sales in 2010 are expected to be even stronger after the adoption of a new business model.
The company, which is known for refurbishing boat interiors, made aggressive moves as part of their shift in strategy, including spending significant time and money expanding training capabilities, increasing its sales team, and expanding its franchise consultant network.
Instead of cutting costs at the start of the recession, Michael Wilson, chief executive officer of Fibrenew, continued to invest money into the company and created new revenue streams by expanding into markets previously untouched by the rest of the industry, according to a recent press release from the company.
Wilson commented on the success in the release: “It was a risky move and a scary process, up and changing some of the core parts of our business function, but it’s paying off in spades. While other companies were standing still, we kept selling more and more franchises.”
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