Full Compass Systems

Full Compass Systems, Ltd.
Private
Industry Pro Audio, Video, Lighting, and Musical Instruments
Founded 1977
Headquarters Madison, WI
Key people
 Jonathan Lipp, CEO, Founder
Susan Lipp, Chairman
Mark Nash, President
Doug Carnell, COO
Products Pro Audio, Video, TV, Photo, Musical Instruments, Lighting and Theatrical, Computers and Software
Number of employees
 200
Website www.fullcompass.com

Full Compass Systems is a national retailer of professional audio, professional video, lighting equipment and musical instruments. In addition to offering over 700 equipment brands, they also provide services such as computer systems integration and equipment rentals (rentals available in WI only). Full Compass is an authorized service center and parts distributor for many brands they carry. The company was founded in 1977 by Jonathan Lipp and is located in Madison, WI.[1]

Overview

Full Compass' 140,000-sq. ft. corporate headquarters serves as the distribution center for all shipped merchandise, as well as a walk-in retail store for local customers. The 80,000-sq. ft. warehouse stocks over 700 equipment brands.[2] The facility also features two working production studios, a technology museum that is open to the public, and an on-site "Backstage Bistro" with a full-time kitchen staff to serve employees and visitors.[1]

Sales professionals make up about one-third of the approximately 200 employees at Full Compass. With annual sales topping $130 million in 2014, it is recognized as one of the largest woman-owned business in Wisconsin.[3] The company hosts audio and video clinics that are open to the public and feature various artist and sound engineers.[4] The company also hosts monthly technology expos that are open to the public and feature new products from suppliers.

Philanthropy drives the family-owned business.[5] Full Compass owners, Jonathan and Susan Lipp, have a long history of contributions to various charities and causes. Through the Full Compass Charitable Contributions Committee, employees raise well over $30,000 per year in cash and in-kind donations for local and national charities, including UW-Madison Scholarships to support Music and Theater students.[6]

History

Early Years

Full Compass Systems began in 1971 as a professional sound studio in Madison, WI founded by current CEO, Jonathan Lipp. In 1977, he founded and incorporated Full Compass Systems, Ltd. to provide professional sound equipment to a wider market.[2] His wife, Susan Lipp, joined the company as President and 2nd employee in 1978 and added her experience in marketing, personnel management and theatrical production.[7]

1980-2000

The company opened its first retail store in Madison, WI in 1979 with a staff of four, and offered lighting equipment in addition to audio equipment.[8] By the end of the 1980's, the company grew to 50 employees with annual sales of more than $8 million, and expanded its product line to over 350 equipment manufacturers, including video and theatrical equipment. During the 1990's, Full Compass offered its first color catalog, grew to 104 employees and reached an annual sales of more than $50 million.[9] In 1995, the company's enormous growth prompted the need for expansion into a 72,000-sq. ft. building with a 42,000-sq. ft. warehouse in Middleton, WI.[10] In 1998, the company formed its computer Integration department to address the increasing use of computers in the industry, and opened its Compass Xpress division to serve customers in off-hours.[11]

2000 to Present

The 2000's continued the retail industry's shift to eCommerce.[12] Full Compass responded in 2003 and 2004 by beginning to sell products on eBay.com and Amazon.com, respectively. Shortly thereafter, the company launched its own eCommerce site in 2006.[8] By 2008, the company's inventory had grown too large for the Middleton facility. A new 140,000-sq. ft. facility was designed, built, and occupied by July 1, 2009 and is the current headquarters for Full Compass.[13]

Currently, Full Compass employs a full-time staff of approximately 200 and has annual sales exceeding $130 million.[2] The company regularly releases a semi-annual 540-page catalog for the Spring/Summer and Fall/Winter seasons.[14]

Awards

2014 - Top Dealer Award from ADJ and Elation Professional Lighting

2013 - Lifetime Achievement Award from the Madison chapter of the Association of Fundraising Professionals

2013 - Woman of Achievement Award for creating the fourth-largest woman-owned business

2013 - Wisconsin Excellence Award from the US Trade & Commerce Research Institute

2011 - 4th Largest Women-owned business in Wisconsin [15]

2010 - Top 25 Women-owned businesses in Wisconsin [16]

2007 - Music Retail Excellence Awards Winner for Customer Service

2007 - State Superintendent's Friend of Education Award

2007 - Governor's Trailblazer Award | Quarter Century Award for women-owned businesses

2006 - Silver Award for outstanding commitment to the Arthritis Foundation, Wisconsin Chapter

2001 - Top 500 Women-owned business

2001 - James B. Lansing Award

2000 - Top 500 Women-owned business

2000 - Retailer's Award

1999 - Top 500 Women-owned business

1996 - Retailer's Award

References

  1. ↑ 1.0 1.1 Newman, Judy (2009-10-07). "Growth at Full Compass leads to new $13.5 million building". Wisconsin State Journal.
  2. ↑ 2.0 2.1 2.2 "SBA 100 - Full Compass Systems".
  3. ↑ Zaferos, Barb (2011-07-22). "Top-of-the-List - Women-owned businesses, software companies". The Business Journal.
  4. ↑ PSW Staff (2011-07-06). "Sennheiser & Full Compass Co-Sponsoring Audio Recording Clinic Featuring Leslie Ann Jones".
  5. ↑ Patrick, Jody Glynn (October 6, 2009). "Full Compass Surprises VP and Audience with Ribbon-Cutting Announcement". IB Madison.
  6. ↑ Coakley, Jacob (2011-06-15). "Full Compass Golf Outing Supports UW-Madison Theatre Scholarships - Stage Directions News".
  7. ↑ Newman, Carlise (1999-06-27). "Lipp takes family approach to build audio firm". The Business Journal.
  8. ↑ 8.0 8.1 "Full Compass Systems - Company History".
  9. ↑ Hawkins, Lee Jr. (2000-09-10). "Microphones help entrepreneurs amplify sales". Milwaukee Journal Sentinel. p. 1D.
  10. ↑ "News Release - Full Compass Celebrates Grand Opening". 1996-01-25.
  11. ↑ "Full Compass Systems - Integration".
  12. ↑ "History of Ecommerce".
  13. ↑ "Full Compass Systems Begins Move to 140,000 SF Facility". 2009-06-17.
  14. ↑ "Full Compass - Catalog".
  15. ↑ "Honors & Awards". 2011.
  16. ↑ "American Registry - 25 Largest Women-Owned Businesses in Wisconsin". 2010.

External links