Close-Up TV News recognizes Frank Schipper Construction

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Close-Up TV News recognizes Frank Schipper Construction

Santa Barbara, CA 12/16/2008 3:21:43 AM

Close-Up TV News recognizes Frank Schipper Construction for its commitment to its employees and outstanding reputation in the field of tenant improvements.

Frank Schipper Construction Co. is a commercial building contractor that specializes in something called tenant improvements. Tenant improvements refer to changes made to a building, typically an office, retail or industrial property, to accommodate the specific needs of a new tenant. These changes can include everything from installation or relocation of interior walls or partitions to carpeting or other floor covering. Schipper Construction moves new clients into old buildings by tearing down and rebuilding buildings or renovating these buildings. They also provide restoration services.

“Clients like what we do and they want us to do it,” says company founder and president/CEO Frank Schipper. “Our clients usually forego a bidding process to work with us. We’ve achieved a certain degree of freedom with the work we do and how we go about doing it. It took us 25 years to get where we are and word of mouth has gotten us to the point where we’re the company to work with.

Established in 1982, Frank Schipper construction started with virtually nothing, but has since grown to bring in $30 million in tenant improvement work each year.

According to Schipper, the company’s success can be directly attributed to his employees. In fact, as Schipper begins to consider retirement he’s already decided to leave the company to those employees who have brought it to where it is today. Every year the first $300,000 of the company’s operating profit is invested into an ESOP plan and with that money the employees have already bought 32.8% of the company. If all goes to plan over the next three or four years, then the company will be profitable enough for the employees to buy the rest of it.

“It’s an interesting way to transition the company but they helped me build it,” says Schipper. “We wouldn’t be where we are and I wouldn’t be where I was without them. I have the utmost faith in the people who will eventually take over. I’ve been training them a long time.”

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