Tony Lee, a former janitor for Ring Masters, a company that makes engine rings in Massillon, Ohio, bought the factory he was working in after it cut several workers and turned the company into a profitable business.
Lee studied business on his own and raised $25,000 to buy the factory after taking out a second mortgage on his house.
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Today Ring Masters has over $4 million in annual sales.
Yahoo News reports:
For Tony, this was just one more obstacle to overcome. After taking a second mortgage on his house, selling his motorcycle and literally scrounging for loose change, Tony had the money and was in on the deal. Actually he was “all in;” failure was not an option for Tony.
Now, 9 years later, Ring Masters is a thriving business with over $4 million in annual sales. From 15 workers at the start, the company now has over 20 employees, a growing list of clients and plans for further expansion.
Tony says he’s recouped his $25,000 investment “several times over” and is now a co-owner of a growing business. For anyone who’s ever thought ‘I can run the company better than my boss’, Tony Lee is an inspiration. And he’s still inspiring his co-workers and employees by working side-by-side with them on the factory floor. Tony says he “leads by example” and would never ask an employee to do a job he wasn’t willing to do.