This is Fred Ball for Zions Bank, speaking on business.
When you wake up in the morning and begin getting ready for the day, more than likely you will use some type of product dispensed from a bottle, plastic tube or some sort of spraying device. And it is quite likely that the bottle, tube or sprayer housing the product came from Compax of Draper.
The company works with manufacturers in designing, producing and distributing custom containers that are typically used for shampoos, toothpastes, hair sprays and other similar products. Compax doesn't actually fabricate any of the containers themselves; instead they purchase and oversee the production of the custom molds their clients use. The molds cost hundreds of thousands of dollars, which Compax pays for and then sells back to the clients. Compax sends the molds to the factories and then distributes the finished containers to the clients. The process saves manufacturers money while also allowing clients of Compax to design their own containers and eventually own their molds. Clients for Compax include several prominent multi-level marketing companies in Utah and Idaho.
Mark Carr and Dennis Devine own Compax. They started the company six years ago. Initially the two worked from Mark's basement with Mark at one end of the desk and Dennis at the other end. Two phones and a fax machine separated the two. To fund their venture and feed both their families, Dennis sold his six acres of land in Southern California. I asked Mark how he felt at the time, and he immediately began explaining how scared and desperate he and Dennis were. Yet, despite their fears, they remained optimistic and determined to succeed.
And succeed they have. Revenues for Compax increase each year and the company now operates an additional office in Idaho. Plans for expansion into California and other states are also in the works. But more impressive, is the fact that Compax developed into the flourishing company it is now without borrowing a dime.
For Zions Bank, I'm Fred Ball. I'm speaking on business.