Maine’s oldest and largest retail hot tub company, Mainely Tubs, has just announced that it has converted to an Employee Stock Ownership Plan or ESOP company.
Founded in 1978, Mainely Tubs was the first business in Maine to use the catchy title “Mainely” in its trade name. Since then, there have been a number of “firsts” for the company.
In 2004 Mainely Tubs became the largest volume single store dealer in the entire Hot Spring Spas network when it sold 888 new hot tubs, and in 2016 it received that award for the 13th time
“This structure is a unique way to reward employees for their hard work and long service in that all future company results will accrue to the exclusive benefit of their retirement plan,” said Jim Van Fleet, owner of Mainely Tubs. Van Fleet also points out that this structure means that the same staff can continue to support the 21,000+ customers that are now part of the Mainely Tubs “family”.
Van Fleet, 68, longtime President of Mainely Tubs, has been laying the groundwork for his succession for the last 5 years, and while he will remain the Company’s CEO for the foreseeable future, much of the responsibility for day-to-day operations of the Company has already been handed to current staff.
To celebrate and help consumers discover the benefits of owning a hot tub, Mainely Tubs will be providing free hot tub test soaks for the entire month. They do recommend however that people wanting to schedule their free 30-minute test soak call them ahead of time to reserve their spot.
To learn more about the benefits of owning a hot tub, pick up a copy of this free hot tub buyer’s guide, 5 Hot Tub Buying Mistakes and How to Avoid Them. Just give us a call at ☎ 207-883-6357 or go to: http://MainelyTubs.com.
Mainely Tubs
415 Payne Road,
Scarborough, ME 04074
☎ 207-883-6357
http://MainelyTubs.com
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