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Stafford boosts business in the Caribbean

Expanding in Caribbean market: Randy Stafford, owner of Stafford Flooring

Most know Randy Stafford as the founder of his namesake flooring company.However, the energetic entrepreneur is also the president of Chateauroux Ltd, a holding company for Stafford Flooring as well as Common Ground Café Limited and Caribbean Aqua Ltd.He formed Stafford Flooring some 25 years ago as a company specialising in timber flooring restoration and supply.But since then, with the slowdown in construction, he expanded Stafford Flooring in the Caribbean and now has a successful location in the Cayman Islands.Mr Stafford based his decision to branch out last year into the Caribbean on the belief that his company could be a base for doing business in the region, with its much larger market of 49 million people. He said he felt the future was about new construction and with the current economic conditions in Bermuda much of the work available was renovations and improvements.“You have the opportunity to go to trade shows in all the different islands,” he said.Mr Stafford said he has grown his business in the region and landed projects in Trinidad, St Kitts, St Lucia, Barbados and the Bahamas.But he cautions, anyone expanding overseas should expect thinner margins and more competition for the work as you are essentially competing on a global basis with US and Caribbean companies. He said there has been a learning curve with doing business in the region but on the whole it has benefitted his company.“Right now it is offsetting an economy that has slowed to a snail’s pace,” he said.Mr Stafford is the Caribbean’s first Certified Timber Flooring Inspector designated by the National Wood Flooring Association.In Bermuda his major projects have included KEMH, Capital G and a number of reinsurance companies.