Tough Beginnings for Founders of Bedding Firm
Headline and Byline
Tough beginnings for founders of bedding firm but hard work pays off
By RACHAEL BOON
The Early Struggles
Starting Out on a Shoestring Budget
The story opens by describing how getting a good night’s sleep was the last priority for entrepreneur Patrick Goh when he was struggling to set up his bedding firm, Intero Enterprise, in 2006. Money was extremely tight, which meant that trips to China for supplier meetings were done on a shoestring budget. For instance, trips from Huizhou to Guangzhou involved dirt-cheap hotels and public buses.
“Every day we travelled a total of four hours to and from Guangzhou to visit our suppliers, as we had no money to stay in Guangzhou,” says Mr Goh.
“The budget hotel was less than 110 yuan (S$23) a night, while a hotel in Guangzhou cost 700 to 1,000 yuan. It had very bare facilities, nothing but a bed to sleep on.”Breakdown: These lines highlight the founders’ willingness to endure discomfort and long journeys simply to maintain and build their supplier relationships, even when resources were scarce.
Recognition and Passion
Recognition for Perseverance
Mr Goh was later recognized by the Association of Small and Medium Enterprises and the Rotary Club of Singapore as Young Entrepreneur of the year. This new category acknowledges young firms with audited financial statements and revenue below $20 million.
Passion as the Driving Force
Despite their modest beginnings, Mr Goh credits the firm’s success to the passion shared among him and his four partners. Their initial meeting in the bed-linen business led to a common dream—to “chart our own destiny.” With start-up funds of $150,000 raised in 2006, they laid the foundation for their wholesaling and distribution bedding business.
Breakdown: This section underscores how determination and a shared vision can turn modest beginnings into substantial achievements.
Overcoming Industry Challenges
Securing Support in a Tough Market
Even with extensive industry experience among them, the founders faced significant hurdles. These included finding a bank to finance their venture and convincing suppliers and retailers to have faith in their brand.
“In our toughest period, which was during the initial stage, the Chinese suppliers were supportive. They were willing to work with us on an open credit basis, instead of payment by letters of credit, such that we could make payment later after receiving the goods.” (Mr Koh)
Breakdown: Here, the article emphasizes the importance of strong relationships and trust. The willingness of suppliers to offer credit played a critical role in the firm's survival and early growth.
Building Trust with Partners
The support of retailers and customers was another cornerstone for success. Mr Goh highlights that despite the high barriers to entry in the retail wholesale distribution industry, their persistence and relationship-building allowed them to earn support even without strong branding initially.
Growth and Expansion
Evolving into a Recognized Brand
Intero has since evolved to create its own house brand along with bringing in several licensed brands. Some notable mentions include French designer label Balmain, British luxury towel Christy, and the United States animated cartoon series Tom & Jerry. The firm also plans to introduce Tweety Pie, the yellow canary cartoon character, further expanding its product range.
Breakdown: This section shows how the company strategically diversified its offerings and built brand credibility through both in-house and licensed products.
Expanding the Business
Intero distributes a range of bedding accessories—including bedsheets, pillow and bolster cases, and towel sets—to major retail chains in Singapore, Malaysia, Thailand, and Brunei. Looking ahead, the firm is exploring new product lines in the bath category and interior products, although it plans to remain strictly a stockist rather than venturing into manufacturing.
The Pillars of Success
Team Dynamics and Individual Strengths
The firm’s growth is also attributed to the strong relationship between the founders. Mr Goh and Mr Koh discuss how knowing each other’s strengths and weaknesses has allowed them to define clear roles, leading to effective collaboration without major conflicts.
“For example, Sam has 37 years of experience in the industry, from manufacturing to distribution, one (colleague) is handling logistics support, and another colleague is very familiar with sales. We all have a clear and common objective in running the business, so we have not had any heated arguments over the last seven years.”
Breakdown: This part of the article illustrates that clear role definitions and mutual respect are crucial for maintaining a harmonious and effective leadership team.
Recognizing Individual Contributions
Mr Koh adds that Mr Goh’s strength in seizing business opportunities has been invaluable. Even with personal challenges like language barriers, the team supported one another, which helped to keep the company cohesive and driven.
Reflecting on the Journey
Achievements and Future Outlook
With 117 employees and revenue increasing from about $1 million in its first year to more than $10 million, the founders are proud of their hard work and the support they have received. Mr Goh expresses satisfaction with the company’s growth and the market share it has secured.
“We’ve seen our hard work pay off. Our company has managed to secure a certain market share and we’re satisfied that we’ve received a lot of support. The results that we have achieved are in accordance with our plan, and what excites us is the business growing.”
Breakdown: The concluding remarks reinforce that perseverance, strategic partnerships, and team unity are the keys to long-term success.
Final Thoughts
This detailed breakdown provides insight into the struggles and triumphs of Intero Enterprise. The founders’ story is a testament to the power of passion, the importance of trust and relationships in business, and the benefits of a cohesive team working toward a common goal. Their journey from humble beginnings to a multi-million dollar enterprise serves as an inspirational narrative for aspiring entrepreneurs.
