The Wizard's Apprentices
Fred Clark (right) says handing off Clark Associates to his son, CEO Gene Clark (left), and protégés like COO David Groff (center) was the hardest thing I ever did in my life"
On a snowy January morning in Lancaster, Pennsylvania, a flat-screen monitor in a former Mennonite elementary school displays the vital signs of WebstaurantStore, which, excepting produce, sells everything a restaurant might need, from $25,000 walk-in freezers to 15-cent takeout containers. Business is booming. By 9AM, WebstaurantStore, the Internet storefront of Clark Associates, a 53-year-old family-owned firm, has already rung up $800,000 in sales. It bagged $8.6 million the day prior.
In a former classroom nearby which still has a chalkboard on the wall, employees run demand projections to ensure Clark's warehouses remain well-stocked with 35-pound buckets of peanut butter, boot-shaped beer mugs and the rest of the 420,000 products the website offers. It's a struggle to keep up. Clark Associates' sales have ballooned from $80 million in 2009 to $4 billion today - an eye-popping growth rate of 32% a year. Over the same period, employee head-count has gone from 350 to 7,000. Hence buying the elementary school. "We were desperate for space," says Clark's CEO, Gene Clark.
Clark, 39, took the helm in 2020 from his father, Fred, a blunt-talking 65-year-old former electrician and self-taught businessman with a penchant for bucking conventional wisdom. In particular, everyone thought restaurant equipment was too complicated to sell effectively online. A standard two-door refrigerator, for instance, can be configured 150 ways, depending on if you run a busy seafood joint or sleepy neighborhood cafe. Fred disagreed-and it paid off handsomely.
This story is from the April - May 2024 edition of Forbes Africa.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April - May 2024 edition of Forbes Africa.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
HIP-HOP'S HOTTEST HUSTLER
The Memphis rap star runs one of the biggest music labels, owns a piece of an MLS team and is looking to expand his empire like his billionaire mentor Jay-Z. But first, he's going to business school.
Kigali Triennial, The Ambitious New Event On The African Cultural Calendar
Rwanda has rightly earned the nickname of \"a land of a thousand hills and a thousand and one opportunities\" because of the country's impressive economic progress. However, after the recently-concluded celebration of arts which was the inaugural Kigali Triennial festival, you can now add culture to the list of things the country offers for tourists and investors.
The dark Side of AI
There is a thin line between innovation and abuse. A look at how large language models (LLMs) are making cyber-criminals even better at mastering the art of deception.
Gene Gamechanger
Disease-resistant crops? Cows that can withstand climate change? Here's how CRISPR is already transforming the continent, and why building a network of skilled scientists can help position Africa as a key global contributor in this frontier of crop development.
Women Empowerment And Transformation In Mining: A Distinctive Perspective
GMDC is a mining company that specializes in tungsten (wolfram) and operates in the city of Kigali, Nyarugenge District, Mageragere Sector.
How The Mining Sector Contributes To Community Development Initiatives
It plays a significant role in Rwanda's overall development, contributing to infrastructure, job creation, health, education, and even environmental conservation. It's not just about extracting resources; mining is mandated to build up the communities and nation alongside its operations.
Reflecting On 2023 Milestones And A Look Ahead
Last year solidified Rwanda's position as a prime African mining investment destination and a burgeoning hub for mineral value addition. What will 2024 hold?
Rwandan Mining Regulator Unveils Three-Year Mineral Exploration Campaign
A holistic approach to responsible mineral resource management in the country.
TASTING SUCCESS
Paul Siguqa has had an unlikely journey in the wine business in South Africa. His mother worked in the vineyards as a laborer during the apartheid era and now, his fully black-owned wine farm sells premium products.
Creating Stronger Communities In Africa Through Digital And Financial Inclusion
In Sub-Saharan Africa, a silent barrier to economic inclusion and social mobility persists: one in four adults lacks identification, according to a World Bank report.
