Utah shooting range equipment firm projects over 400% growth due to new opportunities brought by utilizing WTC Utah resources such as the STEP grant and trade shows.
After working in the shooting equipment industry for over a decade, Quin Seamons and Justin Murray realized the industry was not meeting the current needs of militaries and police to respond to modern conflict. As a result, the pair opened Spire Ranges in 2015 to provide cutting-edge, reliable shooting range equipment, technology and installation.
After identifying market potential for their products around the globe, Spire Ranges turned to the resources at World Trade Center Utah (WTC Utah) to help launch their products internationally, considerably shortening the average timeframe for a company to go global.
Matt Ashby, who oversees Spire Ranges’ business development strategy, emphasized going global is part of the company’s long-term strategy to maximize revenue. When Spire began developing their international strategy, they turned to WTC Utah for assistance.
“Going global has always been 100 percent part of the plan,” said Ashby, “WTC Utah has been such a valuable resource because they facilitate programs and seminars that are extremely helpful in developing our international strategy and competencies.”
In August, Spire Ranges attended WTC Utah’s international tax seminar to help them identify how their products would be taxed in foreign markets. Additionally, Spire Ranges applied for and received funds from the State Trade and Expansion Program (STEP) Grant. These funds allowed the company to attend their first-ever international trade show.
As part of an official State of Utah delegation, Spire Range traveled to London in September to exhibit at this year’s Defense and Security Equipment International (DSEI) trade show, one of the largest defense and security trade shows in the world.
At the trade show, Spire Ranges showcased their new product line to the more than 30,000 show attendees and generated key contacts for their targeted expansion markets. They were also able to meet with key military and security organizations from around the world.
“It was a fantastic experience for us at Spire Ranges,” said Ashby. “Thanks to having a booth, so many individuals reach out to us since the visit because of the need for our products in areas with insurgent issues.”
Currently, Spire Ranges has ongoing projects in Canada, Mexico and across the United States. As a result of their success in DSEI, Spire Ranges developed expansion plans for Europe, the Middle East and Africa and are already working with numerous connections made at the trade show.
The company is currently projecting a 400 percent growth rate this upcoming calendar year and continues to project further international expansion in the next six months.
WTC Utah encourages other companies looking to launch their products internationally to apply for a STEP Grant, which is currently accepting applications for international business activities place between now and September 30, 2018. The deadline to apply is October 31, 2017. To learn more visit www.WTCUtah.com/step.