Profile of an Entrepreneur

1384 Words6 Pages
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
…show more content…
That the customers would bring their own containers to the wholesales and purchase the cleaners by refilling there used containers. * Sensitizing the market to this bulk purchase and container recycling method of purchasing household cleaners. * Cultural reticence is another challenge faced by Mr. Martin when he actually started manufacturing from scratch his own line of cleaning chemicals.

Financial Performance; * Mr. Martins bulk chemical sales venture was the first of it’s kind in jamaica and as a market innovator it experienced double and triple digit growth in sales revenue and profits year over year for the first six to eight years of the business. * As the bulk concept of the business took root in communities, competition entered the market and sales and profit growth have steadily declined since the first ten years. * Over the last five years the company has averaged six percent growth but Mr. Martin proudly says that he knows that he now produces over Fifty percent of the bleach produced in Jamaica.
Customer Perception of the Business * On inception Mr. Martins customers which were the wholesale stores, they had a low perception of the business idea. * The clients of the wholesales eventually realized that they could by their bleach and other household cleaners in bulk from these wholesales and enjoy huge savings so the demand for bulk
Open Document