Baby Product RetailersDealers for baby articles
Former BMW engineering graduate Jim Shaikh developed the idea when he and his spouse Farah thought there might be a better way than tripping through the galley in the early morning or asking waiter for help to heat their own children's breast milk. Another example is a waiter's hand, who can be asked for help in the morning.
In order to finance the deal, Shaikh collected funds from both busines angel and grant funds. Company expansion has reached several important landmarks. Until the end of his first year, he had collected 250,000 pounds and brought Yoomi from "a draft and bit and pieces" to a prototyping machine. Yoomi currently holds two globally nationalized patent, four registered designs and one brand.
There has been momentum for economic expansion since the Yoomi was formally launched at the end of 2009, but the firm recently found itself facing a variety of resources bottlenecks: hard cash, working money and human resources. The Regional Development Fund grants, combined with banking and fishing loans, are designed to solve these problems and take Yoomi into the next stage of expansion.
One of the first beneficiaries of Kent's Tiger 2000 funds is Yoomi. This provides coordinated financing for a five-year zero percent credit specifically for Kent-based businesses. Yoomi's new plant will expand Yoomi's manufacturing capacities and make its operation more efficiently; for example, it will provide storage capacities that currently need to be relocated.
Yoomi can expand its manufacturing capability with more storage room and more effective warehousing and distribution solutions. Thus, another part of the mutual funds will be allocated to assets, which means that Yoomi can produce in the UK. Yoomi will be able to relocate extra packing to Liverpool with a Manufacturing Advisory Service subsidy.
"We' re going to land all our production," says Shaikh. Another installment of the capital expenditure will strengthen Yoomi's research and development to extend its proprietary technologies to new product areas such as breastpumps and healthcare equipment. Shaikh will also be able to use this funding to free up the company's cash flow for investments in marketing.
Yoomi's expansion has been fuelled by strong exporting activity; 95 percent of its turnover is currently generated abroad. Mr Shaikh says UKTI's London offices have been "very helpful" from the outset: advising and assisting with agency and distribution contracts, exporting documents and co-financing the exhibition appearance.
To export a baby product all over the globe is not an an easy job. There are very different rules, specification and norms for baby articles in different states. Joomi has just entered into a contract to resell its product at Germany's largest children's shop. Shaikh won two Chinese distribution partners last months and introduced Joomi at Baby Maternity Expo, a large Shanghai show, after occupying a stand in the UK pavilion.
"Provided everything goes well, China will be an important part of our future economic development over the next few years. Our goal next year is to surpass sales of £1 million," says Shaikh. You can find more information on how to help us safeguard and use your online marketing opportunities on this website.
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