Exquisite work coming out of that shop. Like all businesses, it shows the impact of effective marketing. He could easily have stopped with boat making, but pressed on and attracted high end customers for whom a million dollar staircase was worth it. Imagine the feeling of making a grand entrance on that staircase, to a room full of rich and influential people.
In terms of money, it's fair to say that any employee has to produce 5 to 10 times revenue as their pay rate, per year. So 50 employees means a $35 to $50 million gross. A business like that probably operates at a 30 percent profit margin (conservative), which gives about a $12- $15 million net for the owner. He's probably one of the crowd watching that staircase grand entrance, which is where his customers are, including those who get to commission expensive public projects.
This is a great lesson in marketing for anyone who ever wished they could make a living doing specialty, high-end work.
The more I do, the less I accomplish.