Employee owned, success oriented

The latest “Fast Five” interview from HBSDealer features insights from Xan (Sean) Flink, CEO, and one of the employee-owners of northside Chicago-based Clark-Devon Hardware.

In the interview, Flink describes the business decision to form an ESOP and other insight.

On the business

“The way this business has been run, for a long time, the [previous owners] gave us a lot of leeway, and a lot of encouragement, to try new ideas, so I think we’ve been operating as partial owners for a long time, so I think the continuation of that culture is what we’re going to do.”

On sales trends: “We’ve seen a lot of lawn and garden activity. We’ve also gotten right into the swing of the moving season. Property management is a big part of our business so it’s been really great, really positive.”

On the ESOP move: “An employee ownership plan is a good avenue to take if you’re looking for an exit strategy that will maintain the culture and the legacy of your store. You’ve got to have a strong management team in place and you’ve got to have a strong group of employees to make it work, but if you’re in that situation, it’s a great way to go.”

See the “Fast Five with Xan (Sean) Flink” interview at HBSDealer.com/video