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Chris Miller and Tom Olson founded Panther Precision Machine in 1998 after working together at a machine shop for many years. General Mills, their biggest client, was also their first. In fact, General Mills was one of the deciding factors that prompted them to open their own shop. Chris reflects, "We didn't have time to plan. We had too much work to do."
With just Chris, Tom and one other employee, their first year's business increased 200%. They haven't stopped to plan yet.
After almost ten years, they have achieved consistent growth of 10%-18% every year. They have twenty-six employees. Their business strategy is to service the client, provide what the client needs, and react to their demands. Their philosophy, "Treat people the way you want to be treated."
Without a written plan or even non-verbal goals, Chris and Tom have built a strong business and a reputation that continues to grow. Considering they have no sales team, let alone a salesperson, their business is strong because of their reputation. Word of mouth is their biggest marketing plan. "Our customers drive our business," Tom says.
After just two years in their new building in Ramsey, they realized their need to expand their facility. In 2005, Sean Sullivan of the City of Ramsey, recommended CMDC for their financing. Tom says, "CMDC was easy to work with and made the process easy." The 504 loan allowed them to design and build a 15,000 SF addition, purchase a 25-ton crane, and engineer and build a machine pit to house it. They are already considering a 20,000-30,000 square foot expansion.
Panther Precision Machine provides CNC milling, CNC turning, wire EDM, general machining, welding and fabrication.
Panther Precision Machine
6640 Sunwood Drive NW
Ramsey, MN 55303