Visigoth Imports offers import/export brokerage services, including purchase contracts, shipping, warehousing, and delivery scheduling. The company focuses on special and cultural imports from Germany and Scandinavia to the Bavarian town of Leavenworth, WA. They also provide trade consultation services to newly started farms under the Puget Consumers Co-op’s Farmland Fund initiative.
Visigoth targets two types of clients: gift shops in Leavenworth, Washington, and farmers from the Puget Consumers Co-op (PCC). They have secured exclusive contracts, putting them in a unique position to serve these niche firms.
Profitability is expected to be excellent, particularly in the import section, as Leavenworth attracts over a million tourists annually. Profitability from the co-op end will increase steadily, although it may be slower in the first five years.
Competition in the import/export industry mainly comes from firms serving small enterprises like farms and specialty gift shops. Visigoth avoids competition by focusing on niche markets and offers unique services tailored to the needs of their clients.
Visigoth aims to become the preferred import company in Leavenworth and the go-to choice for the newly launched farms of the PCC farmland fund initiative. With 35 years of experience in the industry, they prioritize building long-term relationships with clients.
The company expects to reach profitability in year 2 and does not anticipate cash flow problems. They estimate that 3,500 units per month will cover their break-even point.
Visigoth will receive $84,000 from its four founders.
Their solution involves importing special and cultural products from Germany and Scandinavia to Leavenworth. They also plan to export apples and other produce from the PCC farms.
Visigoth will focus on servicing gift shops in Leavenworth and farmers from the PCC. Profitability in these markets is expected to be excellent, with a high potential that eliminates the need for market expansion.
Competition mainly comes from importing firms serving small enterprises. Other companies in the industry are regionally focused, while larger companies target major contracts. To avoid competition, Visigoth offers personalized services to meet the unique needs of their niche clients.
The opportunity for Visigoth is significant as Leavenworth brings in around $24 million in revenue annually. The town has had issues with previous importers, creating an opportunity for Visigoth. The company also plans to export produce from the PCC farms.
Visigoth’s keys to success include differentiating their services, establishing long-term relationships with clients, and providing comprehensive services encompassing consultation, purchasing contracts, warehousing, shipping, delivery, and follow-up analysis.
Marketing efforts will leverage contacts with the Leavenworth city council and the PCC to attract new clients. Visigoth has already signed contracts with nine Leavenworth businesses and expects to dominate the local market. They will also be recommended to PCC farmers, increasing their client base.
Operations involve providing import/export brokerage services, including inventory consulting. They will outsource warehousing to minimize variable costs. The company will import various German products and Scandinavian wool items, while exporting produce, primarily apples, to Europe. Their revenue model is based on a commission rate tied to the value of goods moved per order.
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