New markets, broader focus
CHICAGO - Navco Security is spreading its wings, with its sights set on opening a location in this market by the middle of 2005 and growing its retail security business.
The two initiatives are part of an overall growth strategy for Navco, a company that employs 150 people and has annual sales of $40 million. The company currently operates 13 installation locations, but had not looked at bringing this additional location onboard until recently.
Due to the declining econ-omy of the past few years, Navco Security, like many other companies in the market, focused internally and on maintaining current operations, according to Jim Kauker, executive vice president of sales and marketing for Navco.
But now business is up 20 percent and the company expects to keep pace with that growth rate this year.
Some of that new business is expected to come from the companyÃ¢â‚¬â„¢s increased presence in the Chicago market. Mike Monnier joined the company in late spring as a national account manager providing Navco with its first Chicago-based salesperson and a step towards opening a branch here.
The company has also stepped up its efforts in the retail security market, hiring Dennis Colligan to head up that initiative.
Ã¢â‚¬Å“Everybody thinks of Navco as a bank branch, CCTV specialist,Ã¢â‚¬Â said Kauker. Ã¢â‚¬Å“Within the last two years, weÃ¢â‚¬â„¢ve hired about 20 percent of our sales force from those that have long-term experience in the retail arena.Ã¢â‚¬Â
While 60 percent of NavcoÃ¢â‚¬â„¢s gross revenues come from the banking market, the company is working to debunk the myth that bank security is its only business. In fact, Kauker said Navco has provided security to the retail and institutional markets for years.
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