Ex-Marine with a mission.

AuthorBurke, Leslie Kraft
PositionFROM BEGINNERS TO BIGSHOTS

Entrepreneurship wasn't former Marine Mark Llano's first mission, but it's become one of his best. The Desert Storm veteran already had a successful career in investment banking when in 2003 he decided to "get back to his passion" founding Source One Distributors Inc. in Wellington, Fla., to help U.S. servicemen and women by providing them with tactical products, equipment and services.

Initially operating from an office he created by converting his daughter's bedroom, Llano financed his $60,000 startup with equity from his home and credit cards. He's built the company into a $52 million business now headquartered in a 12,000-squarefoot warehouse.

Source One's product catalogue, which began at less than 10 pages, is now more than 300 pages. The company distributes goods from more than 1,000 manufacturers, primarily to the departments of Homeland Security and Defense, NASA and law enforcement agencies.

Getting access to these government accounts by entering the Small Business Administration's 8(a) Business Development Program in 2004 was a key to Source One's success. It allowed the company to qualify for contracts set aside for minorities, said Llano, 39, the son of Cuban immigrants.

The SBA's 8(a) program offers a range of assistance to minority- and woman-owned firms, including access to federal contracts.

"The SBA's South Florida office was incredibly helpful--one of my best resources," said Llano, who went without a salary for his first seven months. 'They also helped me navigate and understand the government agencies that would buy my products. This was very important, because the government is so big, it's difficult to find the fight procurement officers."

If Source One can't find what soldiers need, it will make products using U.S.-based subcontractors. One collaborative effort yielded a body-armor side plate to be worn under uniforms that solved the problem soldiers had of being hit with bullets where they had no protection. The product saved the life of at least one Marine, according to a report in Marine Corps News.

[ILLUSTRATION OMITTED]

Product development, manufacturing and sales under its own brand will be Source One's platform for growth as its initial momentum slows, Llano said. For 2008, the company expects a slight drop in revenue, to $45 million, due to several non-recurring government contracts.

"It's difficult to maintain that sort of pace organically," Llano said. "We are looking to grow via acquisitions and synergies...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT