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Business Plan
Far East Trading Company (FETC) imports exclusively handmade rugs by artisans from all over the Far
East. The firm's main office location is Portland, Oregon, and has a customs house broker in Seattle,
Washington.
FETC quality products are restricted and exclusive, and its target consumers are women with upper-
middle to upper-end incomes. FETC's competitive edge is that the products are 100% handmade, unlike
competitor's products. By this fact, the firm hopes to attract people that value the artistry of producing
silk rugs. Since FET products are mostly silk rugs, it considers itself to be in the home improvement retail
market.
For the starting year 2008, the company plans to attract manufacturer reps and retailers to distribute
the products by attending the Weaver’s trade show in Chicago, Illinois. This trade show is where
suppliers of ilk rugs and other woven products and buyers meet and arrange deals to sell the product.
FETC projected sales are approximately $1.1 million by the end of the first year of operation. Also during
this year, FETC plans to open an exclusive home furnishing shop for our product in Seattle at the Fifth
Street Public Market, leasing for five years.
For the following year, the company plans to expand to direct mail catalog sales by being in an
established catalog, with a similar target market. FETC projects sales of $1.5 million in 2009. During the
third year, FETC plans to do both selling through suppliers, catalogs, and the exclusive furniture store in
Seattle, projecting sales to be nearly $2 million.
The FETC family will expand in 2008 by adding 10 different kinds of rugs. Maintaining an average gross
margin of 25 percent very is realistic. The projected rate of annual growth in sales is 25 percent.
Highlights
1.1 Mission
FETC’s mission to become a recognized importer of artisan quality rugs in the United States. The
company guarantees 100 percent customer satisfaction and values friendly service.
FETC's purpose is to increase customer appreciation of handmade rugs and to provide customers with
beautiful unique artistic decorations.
Product quality
Customer service
Far East Trading Company imports silk rugs from artisans in the Far East and distributes the products to
customers in the United States. The customers are retail stores and wholesalers who want imported silk
rugs, targeting women in middle-upper to upper-end income as the end user of the products.
Far East Trading Company is a privately held Portland corporation. Patricia Yang, FETC's founder, is the
majority owner. Several members of the board of directors also hold minority stock positions.
Start-up costs are approximated at $250,000, which primarily consists of product costs and expenses
associated with establishing a marketing program and opening up FETC's first distribution center.
FETC's headquarters are located in Portland at the founder's home, 1879 Columbia Ave. Portland, OR
97440. It will also have a 600-square foot retail store at the Seattle Fifth Street Public Market, which will
serve as both an outlet and test market.
3.0 Products
FET C imports silk rugs. These rugs provide consumers with a wide variety of product styles and allows
for individual customization of orders.
Far East Trading Company has a variety of silk rugs in various colors, sizes, and patterns.
Far East Trading Company products contain these features that distinguish them from those produced
by competitors:
Tenzin Yangser chap1-cap document 9/16/09
FETC products are 100 percent handmade by Far Eastern artisans and are then imported into the United
States, which will be emphasized in all marketing efforts.
FETC focuses on providing high-quality products to consumers with outstanding service. Customization
of orders and specialization of services will create a competitive advantage.
FETC is developing the organization by beginning with few employees to reduce costs. All current
employees are very motivated, resulting in a positive and strong company culture. This culture will carry
over to all new trainees, which is a prime objective for the expansion of FETC.
The first year of service will be the most important, as FETC plans to establish strong relations with both
suppliers and buyers. These relationships will help FETC to grow and evolve in this industry.
Tenzin Yangser chap1-cap document 9/16/09
Business Plan
Far East Trading Company (FETC) imports exclusively handmade rugs by artisans from all over the Far
East. The firm's main office location is Portland, Oregon, and has a customs house broker in Seattle,
Washington.
FETC quality products are restricted and exclusive, and its target consumers are women with upper-
middle to upper-end incomes. FETC's competitive edge is that the products are 100% handmade, unlike
competitor's products. By this fact, the firm hopes to attract people that value the artistry of producing
silk rugs. Since FET products are mostly silk rugs, it considers itself to be in the home improvement retail
market.
For the starting year 2008, the company plans to attract manufacturer reps and retailers to distribute
the products by attending the Weaver’s trade show in Chicago, Illinois. This trade show is where
suppliers of ilk rugs and other woven products and buyers meet and arrange deals to sell the product.
FETC projected sales are approximately $1.1 million by the end of the first year of operation. Also during
this year, FETC plans to open an exclusive home furnishing shop for our product in Seattle at the Fifth
Street Public Market, leasing for five years.
For the following year, the company plans to expand to direct mail catalog sales by being in an
established catalog, with a similar target market. FETC projects sales of $1.5 million in 2009. During the
third year, FETC plans to do both selling through suppliers, catalogs, and the exclusive furniture store in
Seattle, projecting sales to be nearly $2 million.
The FETC family will expand in 2008 by adding 10 different kinds of rugs. Maintaining an average gross
margin of 25 percent very is realistic. The projected rate of annual growth in sales is 25 percent.
Highlights
1.1 Mission
FETC’s mission to become a recognized importer of artisan quality rugs in the United States. The
company guarantees 100 percent customer satisfaction and values friendly service.
FETC's purpose is to increase customer appreciation of handmade rugs and to provide customers with
beautiful unique artistic decorations.
Product quality
Customer service
Far East Trading Company imports silk rugs from artisans in the Far East and distributes the products to
customers in the United States. The customers are retail stores and wholesalers who want imported silk
rugs, targeting women in middle-upper to upper-end income as the end user of the products.
Far East Trading Company is a privately held Portland corporation. Patricia Yang, FETC's founder, is the
majority owner. Several members of the board of directors also hold minority stock positions.
Start-up costs are approximated at $250,000, which primarily consists of product costs and expenses
associated with establishing a marketing program and opening up FETC's first distribution center.
FETC's headquarters are located in Portland at the founder's home, 1879 Columbia Ave. Portland, OR
97440. It will also have a 600-square foot retail store at the Seattle Fifth Street Public Market, which will
serve as both an outlet and test market.
3.0 Products
FET C imports silk rugs. These rugs provide consumers with a wide variety of product styles and allows
for individual customization of orders.
Far East Trading Company has a variety of silk rugs in various colors, sizes, and patterns.
Far East Trading Company products contain these features that distinguish them from those produced
by competitors:
Tenzin Yangser chap1-cap document 9/16/09
FETC products are 100 percent handmade by Far Eastern artisans and are then imported into the United
States, which will be emphasized in all marketing efforts.
FETC focuses on providing high-quality products to consumers with outstanding service. Customization
of orders and specialization of services will create a competitive advantage.
FETC is developing the organization by beginning with few employees to reduce costs. All current
employees are very motivated, resulting in a positive and strong company culture. This culture will carry
over to all new trainees, which is a prime objective for the expansion of FETC.
The first year of service will be the most important, as FETC plans to establish strong relations with both
suppliers and buyers. These relationships will help FETC to grow and evolve in this industry.
Tenzin Yangser chap1_mid1_ document 9/15/19
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Tenzin Yangser
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If you receive an email asking you to verify an account number, update information, confirm your
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Tenzin Yangser chap1_pe4_solution.docx 9/15/09
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