Self-employment
Know your market nicheCanadians have more money to spend than you may think. The market for luxury items is booming in our country, as Canadian consumers snap up everything from yachts to sports cars to diamond-encrusted pens. ROGER PIERCE -- www.bizlaunch.ca |
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 [ 2006-06-21 ] |
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Entrepreneur Gonzalo Equioiz sells high-end Asian antique furniture to discriminating customers.
"People are willing to spend for good quality merchandise," entrepreneur Gonzalo Equioiz says.
Equioiz owns East Meets West Home Inc. (www.eastmeetswesthome.com), a high-end retail store carrying one-of-a-kind Asian antique furniture located in downtown Oakville. Serving professionals and business people, his store at 88 Lakeshore Rd. W. boasts plenty of Asian furniture pieces that are more than 100 years old.
"We target a very specific market niche," Equioiz says. "Our customers have income levels that are higher than the national average and they want very specific items."
Equioiz decided to start importing authentic Asian antique furniture after seeing some competitors selling inferior quality reproductions at ridiculous prices.
"Our company mission is to bring antique original pieces to the local market at a fair price," he says.
Using personal savings to launch his new business, Equioiz says he wouldn't want to work for anyone else again. "I used to manage a family business and then did a seven-year stint for corporate America," he says. "I've always wanted to return to the independence of running my own company."
However, Equioiz admits being your own boss carries its own set of challenges. "You're responsible for every aspect of the business including finance, marketing, customer service, logistics, vendors and people management," he says.
"In addition to not having a steady personal income for the first few years, that's a lot for any new small business owner to handle. But, I wouldn't want it any other way."
In the near future, Equioiz plans on expanding his line of products to include pieces from Indonesia as well as other Asian cultures.
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