Mike Ducy is one of the fortunate few to have built a successful business around an activity that was once his hobby. In 1982 Mike became professionally involved in the running business through the creation of End Result, Inc., a national running and multi-sport service company providing timing, scoring, and related data services for races throughout the United States. In 1997 End Result became one of the first U.S. companies to deploy the use of Radio Frequency Identification (“RFID”), a cutting edge technology, in its timing products. Today the company has offices in Indianapolis, Davenport, Denver and Seattle, and handles some of the largest races in the country, including the 500 Festival Mini-Marathon, BolderBOULDER, and the Boston and Chicago Marathons.
In 2004 Mike Ducy created another niche business to serve the racing event industry, with additional applications for event management outside the racing world. GetMeRegistered.com provides online registration services for marathons, half-marathons, triathlons, 5k races, conferences and other special events. Since its inception, the company has grown dramatically, and in 2008, GetMeRegistered.com will provide services in connection with over 1000 events nationwide.
Ducy’s newest venture in the running and multi-sport industries, IPax Solutions, will sell and distribute “IPICO Sports” automated tracking and timing solutions to the U.S. market. This version of RFID technology is designed for cycling, running, swimming, Nordic and other events. The timing system is unique from the customers’ perspective because it is roughly one third the price of comparable systems, which makes it more affordable for smaller events, schools, training groups and health clubs.
Group 262 was eventually formed as the parent organization for Mike’s various entities, and 26 years later, Ducy continues to successfully grow his business. One component of Ducy’s growth strategy was to engage Milestone Advisors to help him run the financial aspects of the business. Mary Anne Taggart and Sarah Loughery teamed up to work with Group 262 and its entities last summer and Ducy is pleased with the arrangement. “It’s just nice to work with Milestone, and it’s affordable. Mary Anne and Sarah provide bookkeeping and controllership services making sure the books and financial reports are up to date and accurate. We have a routine that’s efficient and effective. I like the way Milestone Advisors made an effort on the front-end to understand the business so that the right financial management solution could be developed.”
Today Group 262 is pursuing a new growth strategy, the direct acquisition and ownership of racing events. As Mike Ducy’s business grows, his financial management needs continue to expand as well. “I met with a number of different firms before I hired Milestone Advisors” said Ducy, “but only Milestone was positioned to offer the higher level of expertise when I needed it”. Milestone’s Managing Partner, Tom Gabbert, will soon become an integral part of Ducy’s financial team, providing executive level advisory services to help the company reach its growth and profitability goals.
In 2008 Mike Ducy projects that his companies’ combined revenue will exceed four million dollars, and Milestone Advisors will provide him with the financial support he needs to manage that growth. Milestone takes care of Group 262’s financial management needs so Mike Ducy can spend his time on what he does best - growing his business.
To learn more about Milestone Advisor’s services and ways that Milestone can help you grow your business, contact Donna Dwyer Pitz at 317-581-1820 x704.