As the world shut down during the COVID-19 pandemic, many entrepreneurs viewed it as an opportunity to either start a new company or reinvent an old one. In the building and construction world, that meant creating places for businesses to expand their operations or to create spaces for people who were forced to stay home. The following companies that turned lemons into lemonade are the finalists for Building/Construction Manufacturer of the Year at the 2022 Colorado Manufacturing Awards.
A pandemic baby born in 2020, ModStreet's "parklets" have proven so popular that its revenue exceeded $1 million in its first full year of business.
As the world closed for business, ModStreet founders Michael Carrier and Maggie Kavan started making the parklets, enclosures and barricades used to create community park space, expand restaurant seating or serve as bus shelters and small stages.
Other milestones the company achieved in 2021 include making its first out-of-state sale in July and expanding into four more states from Florida to California.
"Our success has rested on two things," says ModStreet CEO Roger Zalneraitis. "First, people have discovered they enjoy the outdoors, and communities nationwide are responding by switching to more pedestrian-oriented neighborhood centers and downtowns. Second, we meet this need by providing an attractive, innovative product that can be installed in minutes and provides a safe, durable seating area for outdoor dining and event use."
CompanyWeek profile (January 2022): https://companyweek.com/article/modstreet
ROXBOX, a national provider of custom shipping container and modular solutions, generated $4 million in revenue in 2021 -- four times what it reported during the previous year.
To achieve the revenue growth, the company:
Completed 32 projects last year -- a 70 percent increase from 2020
Doubled its average project price to $100,000
Increased its workforce fourfold to 25 employees
Expanded its production facility to 31,000 square feet -- a 7.5X increase from 2020
Grew its social media following on Instagram from 900 to more than 11,000 followers
"2021 was a very transformational year for ROXBOX," says founder and CEO Anthony Halsch. "We grew the company immensely, and with that growth came new challenges that our team stepped up and took on with vigor. I'm very proud of the projects our team completed and delivered, on time, during a year of massive supply chain issues that pushed most companies out on their delivery schedules.
"We're very excited for 2022with all of the new clients and projects we have incoming. We have a huge pipeline filled with Fortune 500 companies across the U.S. that are anxious to take delivery of their own ROXBOX."
CompanyWeek profile (May 2021): https://companyweek.com/article/roxbox
Studio Shed saw an enormous surge in demand for its home office designs and accessory dwelling units as the pandemic highlighted the need for space in homes across the country.
Last July, the company tripled production capacity, adding industrial equipment, fabrication stations and staff. Efficient shipping lines that run through the climate-controlled factory allowed for more work to be completed in house, which resulted in quicker installations for customers from coast to coast.
"We had a solution for a growing demand during the pandemic where homeowners needed to add space to their properties," Studio Shed co-founder Jeremy Nova says. "With major construction delays and labor shortages, we were also in a place where we could provide quick-ship, fast-install home improvement projects so they could easily add a home office, guest suite or fitness center just steps from their back door. In 2021, we also saw more municipalities relax zoning and permitting regulations."
CompanyWeek profile (May 2020): https://companyweek.com/article/studio-shed
The winners of the 2022 Colorado Manufacturing Awards will be revealed on April 7 in Denver. The event is open to all Colorado business enthusiasts and stakeholders. REGISTER HERE for the 2022 CMA Winners Reveal & Gala.