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Entering the Chinese Firework Industry
Transcript of Entering the Chinese Firework Industry
Mr. Jerry Yu, MBA
Miami Consulting Group
• An innovative type of fireworks that can display the shape of a logo or a sign when ignited!
on Jerry Yu
A Family Affair
Do not invest in the facory
Develop strategic relationships with suppliers
Entering the Chinese
• Relationship of the industry to China, specially in culture and religious celebrations
• The industry can be developed with the inclusion of modern and more technological improved ideas (R&D)
• The fireworks are very attractive to people in every part of the world
• The industry has space for growth in foreign countries
• It can be adapted to the preferences of customers
• Safety concerns are hard to overcome in people’s minds, especially when the government has already banned in many occasions the use of fireworks
• Very competitive industry, too many manufacturers and price competition.
• Government rejections
• Possible rejection on new ideas
Personalized Fireworks Company
The Business Model
Purchase wholesale fireworks (small units) from China
Import into the United States
Design and assemble personalized fireworks in the United States
Protected under U.S. intellectual property law
Made to Order
Sell in USA and abroad
Hire people in the U.S to design the fireworks (establish an R&D Department)
Licenses and Patents
Hiring a Logistics Company
Hiring a supplier (a fireworks factory in China)
Building a loyal customer base
Education and experience
Born and resides in the USA
No previous industry experience
Location of the factory in Liuyang
Contacts in the USA
Low costs in the Chinese market
Limited industry knowledge
Lack of licensing and protection of intellectual property
Potential family conflict
International brand identities