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Despite the still-lingering recession, the next 12 months could prove to be a high note in the life of the Cavanaugh Co., a Sarasota-based musical accessories manufacturer.
Jim Cavanaugh, a senior executive and the son of the owner, John Cavanaugh, says the company is benefitting from the right mix of good timing and good planning. On the timing side, the company expects to grow its exports division at least 30% in 2010, with a robust market in China leading the way.
Overall company revenues should grow at least 15% in 2010, although it could rise 20% or 25%, says Cavanaugh, who declined to release specific annual sales figures.
The company manufactures and sells guitar and violin strings, as well as reeds and mouthpieces for saxophones, clarinets and wood instruments
“We have a lot of potential coming our way,” Cavanaugh tells Coffee Talk. “We have a real good feeling about the year.”
That kind of feeling, and timing, however, can only be worthwhile with some good planning. And for that, Cavanaugh is thankful the company recently completed its nearly three-year long restructuring plan. (See Review 12/14/07.)
That effort included cost cutting in every department and finding new ways to save. The company still spent money, says Cavanaugh, but it did so more wisely than it had ever done before.
One recent purchase, for example, was a $400,000 cello string machine. That purchase and other upgrades allowed the company to introduce new product lines, which Cavanaugh says is another impetus for the projected growth.
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