A self-made businessman

LAWRENCE KRIMKER

About Lawrence

Biography

Lawrence Krimker stands as one of Canada’s most prominent young business leaders. A recipient of the EY Entrepreneur of the Year award and the former CEO of a Canadian Small Business of the Year award winner, Krimker epitomizes the essence of self-made success. His journey from humble beginnings to becoming a respected entrepreneur is a testament to his vision, perseverance, and business acumen.

Early Life and Entrepreneurial Spirit

Lawrence Krimker was born and raised in North York, Toronto. He grew up in subsidized housing, the son of a solo mother who was an immigrant to Canada. His early life — especially his mother’s ambition and drive — helped shape his work ethic. From a young age, he demonstrated an entrepreneurial spirit, launching his first business in 9th grade: a local directory for home improvement companies. This venture was followed by another in the form of a wall calendar featuring local businesses, reflecting his adaptability and innovative approach.

Education and Early Achievements

In high school, Krimker’s academic hard work earned him a one-year scholarship to the Schulich School of Business at York University, Canada’s top business school. The profits from his high school businesses funded the rest of his university education, setting up a solid foundation for the business endeavours in his future.

Schulich School of Business

At Schulich, while studying finance, Krimker further honed his business skills. He founded and presided over the Young Entrepreneur Association, was engaged in other student business groups like DECA, and in his summer breaks he started and ran The Dependables, a window cleaning business. By his fourth year, the company had 80 employees, three offices, and generated $2.3 million in sales in a single season.

Post-Graduation Ventures

In 2010, he co-founded Paystack, a tech start-up that gained acceptance into Y-Combinator. His experience in Silicon Valley lasted 18 months before he sold Paystack’s technology and returned home to Toronto. Back home, Krimker transitioned into the HVAC industry, managing contract sales offices and retraining his former window cleaning employees for HVAC sales.

BUSINESS HIGHLIGHTS

Lawrence Krimker built much of his name and legacy with the founding of Simply Green, which over the course of a decade went from startup to managing over $2B in assets. Through ambitious growth in the North American market, with major acquisitions like SNAP Financial and Dealnet, to the sale of the finance divisions of the remodelled Simply Group, Krimker demonstrated what ambition, perseverance, and strategy can achieve.

Simply Green and Expansion

In 2013, Krimker founded Simply Green with the aim of challenging major players like Enercare and Reliance in the water heater tank leasing market. He expanded the company’s offerings to include furnace and air-conditioning leases, which catalyzed significant growth.

Strategic Growth and Pivots

Between 2016 and 2019, Simply Green continued to grow by acquiring and consolidating competitors. In 2020, amid the COVID-19 pandemic, the company sold off the majority of their clients and Krimker guided the company to acquire SNAP Financial and Dealnet. This strategic shift grew the business to over $2B in assets.

Sale of Simply Group

In 2023, Krimker sold the finance divisions of Simply Group to Financeit, marking the culmination of a decade-long journey. Post-sale, he has concentrated on his Family Office, joined a board role at Financeit, and taken on senior leadership roles in health and supplement companies, including Magnum Nutraceuticals, and Vitacoach, a supplements subscription service he founded.

Guiding Business Principles

What has helped drive Krimker’s achievements? These are the three guiding business principles that govern his decision-making and contribute to his success.

Be Patient and Think Big

Success in business requires a long-term perspective. Lawrence Krimker emphasizes the importance of focusing on broad, ambitious goals rather than getting sidetracked by short-term gains.

“You need to focus on the long term. In the short term, your business can be going well — but often true, large-scale success comes only when you expand your ambitions. Get excited about the possibility of something big, and keep putting one foot in front of the other to get there.”

Bet on Yourself

Krimker’s success is driven by his self-belief, determination and resilience. He advocates for backing yourself to achieve great results, even in challenging or uncertain times.

“You need to bet on yourself, don’t be afraid, don’t question yourself, just really believe in yourself. Making bold business decisions is just what I do — this is what I was made for, what I’ve trained for my whole life.”

Share Your Success

Lawrence values collaboration and mentorship, surrounding himself with a trusted network of people he respects. He finds fulfillment in mentoring others and sharing successes with those who have supported him.

“A big part of success is recruiting and working with the right people. When you’re in the trenches together, you work hard for one another. And then, when you share successes together, they’re even sweeter. It means even more.”

Takeaways from a self-made businessman

Krimker’s business success story is unique to him. But that doesn’t mean others can’t take lessons from his story. These takeaways highlight the attributes that make him successful.

Path to Success

Lawrence Krimker’s journey from his early entrepreneurial ventures to building a successful business empire illustrates his dedication, resilience, and strategic vision. His success is a result of his education, drive, and innovative business practices.

Achievements and Strategy

Krimker’s business acumen is evident in his ability to adapt and pivot strategically, such as his move from HVAC leasing to home renovation loans during a global pandemic. His approach combines long-term vision with adaptability, enabling significant business growth and success.

Legacy and Impact

Krimker’s legacy extends beyond his companies; it includes the mentorship and inspiration he offers to aspiring entrepreneurs. His story serves as a beacon for those aiming to achieve success through perseverance and self-belief.