From Sales Director to Bedding Pioneer
Patrick Goh, now 52, took the bold step of leaving a secure role as a sales director at a local bedding firm to pursue his entrepreneurial dream. Seven years younger than Ray Kroc—the founder of McDonald’s—Goh's decision was driven by the belief that working for yourself is the only path to true fulfillment. Alongside his partner, Sam Koh, 53, and three other seasoned professionals, he co-founded Intero Enterprise in late 2006, challenging the myth that youth is the key to start-up success.
Overcoming Early Challenges and Securing Breakthroughs
Launching Intero with a modest start-up capital of $150,000, the team faced significant hurdles. Initially, no financial institutions were willing to invest due to their lack of a track record. Their early days involved cost-cutting measures like staying in budget hotels during supplier trips in China and enduring long commutes by public transport. Their perseverance paid off in March 2007 when a bank extended a $300,000 trade facility, fueling the company’s growth from a revenue of $1 million in 2007 to over $10 million by the end of 2013.
Innovating Bed Linen as a Fashion Statement
Intero Enterprise redefined the bedding industry by transforming everyday bed linen into a statement of style and luxury. With a strong passion for the industry and over 100 years of combined expertise among the founders, Intero was the first in the industry to introduce designer and luxury brands such as France’s Balmain and Britain’s Christy into the bedding market. Today, the company also offers exclusive in-house labels and global brands like Hill Crest, Home, Trendz, Linen Haus, Tweety, and even children’s bedding featuring characters like Tom and Jerry. Their innovative approach has helped position bed linen as not just a commodity, but as a vital element of home décor that reflects one’s lifestyle and taste.
Expanding Horizons: Product Diversification and Future Growth
While bedding remains at the heart of Intero's business, the company has also ventured into menswear by supplying apparel from brands like Cote Opera Paris and Lantona Switzerland. Now in its eighth year, Intero plans to further increase its domestic market share through product extensions and branding initiatives. These efforts are aimed at capitalizing on the rising trend of home ownership and evolving consumer preferences, with targets of achieving 20-30% compound revenue growth and net profits of 4-5% annually. Moreover, the company is exploring promising merger and acquisition opportunities that could significantly boost its distribution network and revenue.
Commitment to Social Responsibility
Beyond business success, Intero Enterprise is committed to giving back to society. In 2009, the company launched the Yellow Ribbon project, which provided employment opportunities to ex-offenders. Despite initial challenges in integrating staff with diverse backgrounds, the project now includes around eight ex-offenders, highlighting Intero’s dedication to social responsibility and second chances.
Words of Wisdom for Aspiring Entrepreneurs
Patrick Goh’s journey with Intero is a testament to the power of passion, perseverance, and clear vision. He advises aspiring entrepreneurs to embrace risk, accept criticism, and remain resilient in the face of challenges. Success in entrepreneurship is a personal voyage, and with a solid foundation of experience and the right mindset, anyone can transform their dreams into reality.
