Profile of an Entrepreneur

In: Business and Management

Submitted By Rickysmart
Words 1384
Pages 6
Name: Roderick Smart
ID#: 92058153
Course Title: New Ventures and Entrepreneurship
Course Code: SBCO 6190
Lecturer: Dr. K’adamawe K’Nife
Topic: Profile of an Entrepreneur

Profile of an Entrepreneur
Entrepreneur Mr. Earl Martin CEO and founder of Island Products Manufacturers
Start Date 1992
Industry Manufacturing of Chemical Products
Innovation Sale of household cleaners in bulk quantities

Background
Mr. Martin started his company island products Manufacturers in 1992, with the idea to sell house hold cleaners in bulk, at the time these cleaners could only be purchased in retail amounts no larger than 1 gallon. Mr. Martin realized that when you buy a gallon of household cleaners approximately half the price that you pay is for the container not for the actual cleaners so he thought to himself that if he could bring his own gallon containers to purchase cleaners he could save approximately fifty percent on cleaners.
Mr. Martin approached a couple of wholesale’s trying to purchase household cleaners in bulk using his own containers and found that no one was willing to sell him cleaners in bulk quantities, in fact he could use his containers to purchase syrup in bulk although syrup would be ingested, but he couldn’t buy cleaners in bulk. Mr. Martin saw a business opportunity.
Mr. Martin borrowed a truck from a friend and started his business by purchasing bulk amounts of household chemicals from existing manufacturers and he approached wholesalers in old harbor with the concept of selling bulk household cleaners to retail shoppers, the wholesalers thought that he was crazy and that people will not purchase chemical cleaners in bulk, he had to give these wholesales the product on consignment , within weeks it was apparent that his idea was a hit and he quickly expanded the business to the point where he realized that he needed his own…...

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