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Richard Foster - Time For Sports
16-Year-Old Entrepreneur Builds
Foster then loads four 1"x12" pine boards onto the router, turns the machine on, and goes back to doing his homework or playing tennis with his friends. The router cuts out one side of 12 tennis clocks in an hour. Richard turns over the board and the router cuts out the other half of the clocks in another hour. Each clock is produced exactly like Foster's original computer model. The accuracy of the clocks is far better than even an experienced woodworker with 12 years experience like Foster is able to achieve. Foster then sands, paints and assembles the clocks and they are ready to ship out to customers.
"The new router has drastically reduced the amount of time required to make each clock," Foster said. "This made it possible to cut the price of each clock in half to $40 and also gave me the time to design five new clocks: baseball, soccer, football, hockey, and basketball", giving him a total of seven. Foster established a company called and began looking for new avenues to expand the business. This is quite a challenge for someone who is not yet old enough to acquire his own credit card or drive to any business appointments.
Becoming a sponsor of the Nasdaq-100 Open
Foster's next major move was to obtain a sponsorship at the Nasdaq-100 Open tennis tournament in Key Biscayne, Florida. He was now alongside sponsors such as Mercedes Benz and Royal Caribbean Cruise Lines. He made 570 clocks to sell at a booth at the event. Because he is too young to sign a binding contract, his mother (Bonnie Foster) co-signed for the sponsorship. Because he doesn't have a driver's license, she came with him and acted as his chauffeur. Foster's sales broke previous company records and established an important new marketing channel for his company. He later became a sponsor for the Pilot Pen Tournament in New Haven, Ct.
Richard's early success as an entrepreneur has also helped him achieve a substantial amount of media exposure. He has made guest appearances on television shows such as "Warehouse Warriors", "Something to Talk About", and "Senior Moments." Feature articles about his company have appeared in the New York Times, Newsday, The Great Neck Record, and New Hyde Park Illustrated. All of this exposure has helped to drive sales from his Web site:
[above] Computer CNC: Programming the router.
[photo: by Bonnie D. Graham.]
The LC series router includes a heavy steel ground stress relieved base and an aluminum T-Slot table that can be easily converted to a vacuum table by installing the Techno vacuum table accessory kit. The router is available in five sizes, with work envelopes of 30 by 24 inches, 48 by 48 inches, 48 by 96 inches, 59 by 120, and 78 by 120. Each of these models provides a repeatability of 0.001 inches and a maximum speed of 900 inches per minute. A wide range of optional equipment is offered including a laser scanning module, variety of spindle options, vacuum table / pumps, and 4th-axis rotary table to name a few.
"The low cost of the CNC router makes it possible to produce sports clocks very efficiently," Foster concluded. "The new router has played a major role in helping my company achieve a significant level of sales and profits without any employees. Its productive capacity and ability to operate on its own provide the potential for our company to introduce new products without any additional capital investment. And it sure does produce a beautiful clock."
*This article has been reproduced for the Techno CNC Router Systems Web site with permission from:
Vance Publishing, Wood and Wood Products; (http://www.iswonline.com/wwp/index.cfm)
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