Over forty years ago, Richard W. Pratt made a decision that would not only pave the way for a thriving family-owned business, but also redefine what it means to be a distributor in the fastener industry. A classic fork in the road for a driven entrepreneur: stay on as an employee or to break out on his own.

In 1982, fastener distributors mostly followed the same playbook: sell in bulk, and don’t waste time on small orders. Such was the case for Pratt’s (then) employer, who imported 90% of its product line – and only sold by the pallet. For most of the previous ten years Pratt had climbed the ladder there, gaining experience in administration, sales, imports, and logistics. Despite promoting him to General Manager, the company’s ownership held him at arm’s length.

The reason? He wanted to try a new business model – one that took on a higher volume of smaller orders that he was convinced would pay dividends. If Richard W. Pratt was going to fill this niche by breaking down bulk lots and holding more inventory, he’d have to start on his own, from scratch.

And so, with a degree from University of Illinois and over a decade of experience under his belt, he partnered with his wife Marie to lease 2,500 sq. ft. of warehouse space in Des Plaines, Illinois. This was the very first headquarters of Prospect Fastener Corporation, an all-in gambit by the Pratts to build a distribution business by offering what fastener consumers needed most: Value.