Key Takeaways
- Ray and Dana Chery, both with MBAs, left their high-powered jobs in investment banking and tech to own a portable sink company called Monsam.
- The couple was drawn to entrepreneurship through acquisition, seeking autonomy and a chance to own a business with growth potential.
- Monsam, a 27-year-old company, offers portable sinks with practical and varied use cases, and the Cherys see opportunities for expansion in education, healthcare, construction, and sports venues.
- The company’s established live sports business is growing, with portable sinks helping venue operators leverage dead space without installing formal plumbing.
- The Cherys’ decision to leave their previous careers and take on a new challenge is reflective of a larger trend of people seeking more fulfilling and autonomous work.
Introduction to the Cherys’ Career Pivot
Speaking with Ray Chery on a Teams call, I told him I found the backstory of his life pivot with his wife, Dana, from high-powered jobs in the investment banking and tech industries toward ownership of portable sink company Monsam "kind of funny." "We think it’s funny every day," Ray said, smiling. The Cherys’ journey to becoming owners of Monsam is a unique one, driven by a desire for autonomy and a chance to own a business with growth potential. Both Ray and Dana have MBAs, Ray from the University of Chicago and Dana from Northwestern, and were well-established in their careers before making the switch. Ray worked in investment banking, while Dana was in tech marketing for companies like Salesforce and Samsara.
The Decision to Pursue Entrepreneurship
The Cherys’ decision to leave their previous careers and pursue entrepreneurship was not taken lightly. They had always been interested in entrepreneurship, but it wasn’t until they found themselves disillusioned with the upper crust of employers in the finance and tech worlds that they began to seriously consider it. The couple was drawn to entrepreneurship through acquisition, seeking a chance to own a business with a proven track record and growth potential. They contracted with a broker listing businesses for sale and began studying hundreds of opportunities, looking for companies that were historically profitable, close to their home, and had a retiring owner. Monsam, a 27-year-old business with a practical and varied use case, fit the bill.
The Monsam Opportunity
Monsam, a portmanteau of the names of the previous owners’ kids, was established in 1997 and had a strong reputation in the industry. The company’s portable sinks have a wide range of uses, from construction sites to healthcare facilities, and are particularly popular in the sports industry. The Cherys saw an opportunity to expand the business into new markets, including education and healthcare, and to leverage the company’s established reputation to drive growth. They were also drawn to the company’s blue-collar workforce, which included delivery drivers, craftspeople, and installers. "I live in the Bay Area, there is a lot of sexy, high-flying, AI stuff, and [Monsam] was an opportunity to step away from that and connect with the broader economy," said Ray.
The Benefits of "Boring" Businesses
The Cherys’ decision to pursue ownership of a "boring" business like Monsam is reflective of a larger trend. Many people are seeking more fulfilling and autonomous work, and are turning to entrepreneurship as a way to achieve this. "Boring" businesses, like Monsam, may not be as flashy as some of the more high-profile startups, but they offer a unique set of benefits, including stability, profitability, and a chance to make a real impact. "There is this notion of boring businesses, they’re becoming more popular," said Ray. "Sleepier businesses that people might not appreciate for how important they are or valuable they are." The Cherys’ experience with Monsam is a testament to the potential of these types of businesses, and the rewards that can come from pursuing a less traditional path.
The Future of Monsam
The Cherys closed on the Monsam acquisition in May 2024, and have been working to expand the business ever since. They have split the company’s corporate responsibilities and have eight employees, as well as a Bay Area workshop. The company’s established live sports business is growing, with portable sinks helping venue operators leverage dead space without installing formal plumbing. The Cherys see opportunities for further expansion in the sports industry, as well as in education, healthcare, and construction. With their unique blend of business acumen and entrepreneurial spirit, the Cherys are well-positioned to take Monsam to the next level and make a lasting impact on the industry.
