Import

Export
Business Global Imports, Inc.

Plan
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Import Export Business Plan
Global Imports, Inc.

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 Plan Outline

1.0 Executive Summary

Mission
Keys to Success
Objectives

2.0 Company Summary

3.0 Services

4.0 Market Analysis Summary

5.0 Strategy and Implementation Summary

6.0 Management Summary

7.0 Financial Plan

Appendix

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Executive Summary

Introduction

It is the mission of Global Imports to provide complete import/export brokerage services

including purchase contracts, shipping, warehousing, and delivery scheduling. The company
will concentrate on special and cultural imports from Germany and Scandinavia to the unique
cities of Bangladesh. Global also plans to provide trade consultation services to newly
started farms created under the Consumers Co-op's Farmland Fund initiative.

The Company

Global Imports will be a limited liability partnership registered in the state of Peoples
Republic of Bangladesh for tax purposes. Its founder is Mr. Frank Curtiss, a former master
distributor with Fisher-Mills. Mr. Curtiss has brought together a highly respected group of
individuals who are well versed in foreign trade processes.

The company has a limited number of private investors and does not plan to go public. The
company has its main offices in Dhaka, Bangladesh. The facilities include conference rooms
and office spaces. The company expects to begin offering its services in June, 2014.

The Services

Global offers complete import/export brokerage services plus inventory consulting services.
As mentioned previously, this includes the following:

Supplier/buyer identification
Purchasing, contracting and consulting
Shipping
Warehousing
Delivery

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It must be noted that Global does not possess any warehousing facilities and intends to
outsource this particular service. We expect to earn revenues by charging a commission based
on the value of goods moved per order.

The Market

Global will be concentrating on servicing just two types of clients, the gift shops in all cities,
and the farmers of Bangladesh. For both market segments, we have secured exclusive
contracts or endorsements putting us in a unique position to service these niche firms and
their needs.

Profitability in these two markets is expected to be excellent, especially in the import section
as Bangladesh draws in over a million tourists each year. We expect profitability in the co-op
end to be much slower in the first five years of operation, but it too will increase steadily.

Financial Considerations

Start-up assets required include expenses and cash needed to support operations until
revenues reach an acceptable level. Most of the company's liabilities will come from outside
private investors and management investment; however, we have obtained current borrowing
from Bangladesh Bank, the principal to be paid off in two years. A long-term loan through
Standard Chartered Bank Limited will be paid off in ten years.

The company expects to reach profitability in year 2 and does not anticipate any serious cash
flow problems. We expect that about 3,500 units per month will guarantee a break-even
point.

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1.1 Mission

It is the mission of Global Imports to provide complete import/export consultation and

brokerage services including purchase contracts, shipping, warehousing, and delivery. The
company will concentrate on special and cultural imports from Germany and Scandinavia to
the Bangladeshi market. Global also plans to export apples & Mangos and other produce by
newly started farms created under the Consumers Co-op's Farmland Fund initiative.

It is our long-term goal to become the preferred import company for the Bangladeshi market.
Global understands that the import shops and restaurants in tourism have special needs of
most unique gifts for the million tourists that visit the country annually. Global Imports also
understands that the newly launched farms of the Consumers Co-op's farmland fund initiative
also have higher costs than most competitors and will need to export their produce at a cost
that provides sufficient profit. Global Imports has a combined 15 years of experience working
in the import/export business. Our philosophy is in creating a long-term relationship with
clients so that the delivery of their products becomes a seamless experience that promotes
loyalty.

1.2 Keys to Success

Global Imports' keys to long-term and profitability are as follows:

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 Differentiate our services to our niche clients so that they realize that we are better
able to serve their needs than a more generic competitor.
Keeping close contact with clients and establishing a well functioning long-term
relationship with them to generate repeat business and create a top notch reputation.
Establish a comprehensive service experience for our clients that include consultation,
product/client search, purchasing contracts, warehousing, shipping, delivery, and
follow up service analysis.

1.3 Objectives

The three year goals for Global Imports are the following:

Achieve break-even by year 2.

Retain our long-term contracts with local import shops in Bangladesh, through
excellent customer service.
Become the premier importer of German and Scandinavian specialty products in
Bangladesh, and become the prime exporter of Mango and other produce for the
farmers of the Consumers Co-op's Farmland Fund initiative.

Company Summary
Global Imports will be a limited liability partnership registered in the state of Peoples
Republic of Bangladesh for tax purposes. Its founder is Mr. Frank Curtiss, a former master
distributor with Fisher-Mills. Mr. Curtiss has brought together a highly respected group of
individuals who are well versed in the various aspects of foreign trade processes.

The company has a limited number of private investors and does not plan to go public. The
company has its main offices in Dhaka, Bangladesh. The facilities include conference rooms
and office spaces. The company expects to begin offering its services in June.

The company's main clients will be small import shops in the tourism area and start-up farms
throughout the state. By focusing on small niche market entrepreneurs, we believe we will be
able to provide superior and more efficient service than other import/export firms.

2.1 Company Ownership

The company will have a number of outside private investors who will own 27% of the
company's shares. The rest will be owned by the senior management including Mr. Frank
Curtiss, (25%), Ms. Hannah Mills (20%), Mr. Steve Iltheus (20%), and Mr. Pierce Bolm
(8%). All other financing will come from loans.

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2.2 Start-up Summary

Start-up assets required include expenses and cash needed to support operations until
revenues reach an acceptable level. Most of the company's liabilities will come from outside
private investors and management investment; however, we have obtained current borrowing
from Bangladesh Bank, the principal to be paid off in two years. A long-term loan through
Standard Chartered Bank Limited; will be paid off in ten years.

Start-up Requirements
Start-up Expenses
Legal $2,000
Insurance $1,000
Utilities $200
Rent $2,000
Accounting and bookkeeping fees $2,000
Expensed equipment $2,000
Advertising $4,000
Other $8,000
Total Start-up Expenses $21,200

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Start-up Assets
Cash Required $38,550
Other Current Assets $15,000
Long-term Assets $10,000
Total Assets $63,550

Total Requirements $84,750

Start-up Funding
Start-up Expenses to Fund $21,200
Start-up Assets to Fund $63,550
Total Funding Required $84,750
Assets
Non-cash Assets from Start-up $25,000
Cash Requirements from Start-up $38,550
Additional Cash Raised $0
Cash Balance on Starting Date $38,550
Total Assets $63,550
Liabilities and Capital
Liabilities
Current Borrowing $9,000
Long-term Liabilities $12,000
Accounts Payable (Outstanding Bills) $2,000
Other Current Liabilities (interest-free) $8,000
Total Liabilities $31,000
Capital
Planned Investment
Mr. Frank Curtiss $15,000
Ms. Hannah Mills $13,000
Mr. Steve Iltheus $13,000
Mr. Pierce Bolm $5,000
Others $7,750
Additional Investment Requirement $0

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 Total Planned Investment $53,750
Loss at Start-up (Start-up Expenses) ($21,200)
Total Capital $32,550
Total Capital and Liabilities $63,550
Total Funding $84,750

Services
Global offers complete import/export brokerage services plus inventory consulting services.
As mentioned previously, this includes the following:
Supplier/buyer identification
Purchasing process contracting and consulting
Shipping setup
Warehousing arrangements
Delivery

It must be noted that Global does not possess any warehousing facilities and intends to
outsource this particular service. This means that we will have virtually no variable costs
associated with unit sales.
Global will be importing such things as steins, figurines, Christmas gifts, Germanic
foodstuffs, cuckoo clocks, and nutcrackers from Germany, where Mr. Curtiss has had
extensive experience. In addition Global will be importing Scandinavian wool products such
as sweaters and other gift items.
The company will be exporting produce, primarily Mangoes, to Europe.
Our revenue model is based on a commission rate charged to our clients scaled on the dollar
value of goods moved per order.

Market Analysis Summary

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Global will be concentrating on servicing just two types of clients, the gift shops of
Leavenworth, Washington, and the farmers of the Puget Consumers Co-op. For both market
segments, we have secured exclusive contracts or endorsements that put us in a unique
position to service these niche firms and their more demanding needs.
Profitability in these two markets is expected to be excellent, especially in the import
segment as Leavenworth draws in over a million tourists each year. We expect profitability in
the co-op end to be much slower in the first five years of operation, but will increase steadily.

4.1 Market Segmentation

Global intends to be a small import/export company focused on clients serving a niche

market. Having secured a very advantageous contract with Consumer Co-ops and gained the
endorsement of the Leavenworth city council, we plan to focus exclusively on these market
segments. Both have such high potential that we do not see a need to expand our market
reach for the foreseeable future.

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Growth CAGR
Customers
Global businesses 1% 34 34 34 34 34 0.00%

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Consumer Co-op
5% 72 76 80 84 88 5.14%
farms

Total 3.58% 106 110 114 118 122 3.58%

4.2 Service Business Analysis

Imports
Coxs Bazar sits in one of the most beautiful areas of Bangladesh. The area was settled in the
1860's, but it wasn't until the end of the century that the town began to blossom with the
arrival of the rail line. The Great Northern Railway Company's tracks through Leavenworth
brought with them opportunities for work, commerce and a new economy. However, when
the Great Northern Railway Company pulled out of Leavenworth, the town was converted
from a bustling, thriving hub of commerce into a hollow, empty community. For more than
thirty years, Leavenworth lived on the brink of extinction. But in the early 1960's, everything
changed.

In a last-chance effort to turn their precarious situation around, the leaders of the community
decided to change Leavenworth's appearance, hoping to bring tourism into the area. Using the
beautiful backdrop of the surrounding Alpine hills to their advantage, the town agreed to
remodel their hamlet in the form of a Bavarian village. The entire community rallied to create
the illusion of Bavaria in the middle of Washington state. Besides the complete renovation of
the downtown area, community members worked to begin a series of festivals. The Autumn
Leaf Festival, Maifest and the extremely popular Christmas Lighting Ceremony were the first
of many attractions Leavenworth offered to tourists. Since the change to a Bavarian motif,
Leavenworth has become a pillar of the tourism industry in the Pacific Northwest. Today,
more than a million tourists come to Leavenworth yearly, each visitor finding their own love
affair with the community.

The town brings in an average 24 million dollars in revenue each year, and since much of the
town's profits are based on the sale of alpine and Scandinavian gifts, the opportunity for a
company such as Global is almost unmatched. In 2002 a town meeting of the principal shop
owners in Leavenworth was held concerning the present contracts with the community's main
importer, Deutsche Gifts. The previously good relations between the community and the
import firm had soured due to rising costs and unreliable service. The result of the meeting

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was to look for another importer better able to meet the local needs once the current contract
expired. Mr. Frank Curtiss successfully bid for the contract, and the idea of Global was born.

Exports
Global has made arrangements to export produce from member farms established by the
Consumers Co-op Farmland Fund. The Fund works to secure and preserve threatened
farmland in rural areas of Bangladesh and move it into organic production. The Fund's
primary focus is on large, functional landscapes of local, regional and statewide importance
so protection can be extended to biodiversity and wildlife habitat as well as to farmers and
farming communities. The Fund is an independent, community-supported non-profit land
trust founded in 1999. The Fund has already rescued half dozen farms within the state and
plans to increase these projects so that by 2007 there will be at least 36 farms that come under
the fund's protection. In addition, approximately 60 farms belonging to the Co-op have
expressed interest in contracting with Global.

4.2.1 Competition and Buying Patterns

Competition
Competition includes all potential importing firms that serve small enterprises such as farms
and specialty gift shops. Practically speaking, this means the largest import/export firms such
as Fisher-Mills, Eagle Distributing, and other large, nationwide companies will not compete
with us. Most other companies tend to be regionally focused. The foreign trade industry is
highly fragmented, with a large number of small companies that mainly cater to small firms
and a few large companies that seek the largest contracts from companies such as Microsoft,
GM, etc. This makes competition within the industry very intense. Through our niche
strategy we intend to avoid competition and its drawbacks such as price wars, etc.

Buying patterns and needs

Companies usually enter into contracts with import/export firms based on a firm's reputation
for professionalism and service. With no proven track record, a star-up import/export
company obtains a "good reputation" through its personnel, people who have experience in
other businesses in the industry. Price, reliability and scope are the driving factors for
accepting contracts, especially if the import/export company is small.

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Our niche clients have different needs than most other firms. Our import clients need to have
relatively small numbers of expensive and fragile products moved from Europe to local
warehouses in Wenatchee and Leavenworth. Most of these items are handmade so handling is
a special issue. In addition, the small companies and shops in Leavenworth depend a great
deal on their import agents to alert them to new and unique product introductions overseas.

On the other end, the farms belonging to the Consumer Co-ops need to keep export costs as
low as possible since many of them are start-up ventures with initially high overhead. Quite a
few trade firms do not accept these types of contracts and leave it to the co-ops to create their
own exporting ventures. This can lead to higher costs as most co-ops do not have the core
competencies in import/export issues.

Strategy and Implementation Summary

Our firm's business strategy is to enter into a focused or niche market where it can offer a
higher standard of service to its specialized clients. This will allow us to charge slightly
higher fees to our clients for these differentiated services.

5.1 Sales Strategy

Global intends to develop sales by establishing close contact with potential clients. We will
begin by offering a free consultation in terms of overall cost, service, and delivery. In
addition, we intend to promote our management team's extensive experience both with
German gift manufacturers and artisans, and our knowledge of the produce trade environment
to draw in our target market segments.

5.1.1 Sales Forecast

Sales are based on the various contracts we anticipate acquiring in the two market segments.
Revenues consist of a commission rate charged to our clients based on the dollar amount of
goods moved and include projected average costs plus an undisclosed profit margin. Sales are
expected to vary somewhat month to month, but are only slightly cyclical on the import end.
The exports are expected to be highly cyclical. The company does not have any significant
direct costs of sales.

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 Sales Forecast
Year 1 Year 2 Year 3
Sales
Leavenworth imports $127,000 $145,000 $189,000
PCC farm exports $33,000 $56,000 $77,000
Total Sales $160,000 $201,000 $266,000
Direct Cost of Sales Year 1 Year 2 Year 3
Leavenworth imports $0 $0 $0
Consumer Co-op farm
$0 $0 $0
exports

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 Subtotal Direct Cost of Sales $0 $0 $0

5.2 Marketing Strategy

Global intends to leverage its contacts with the Leavenworth city council and the Consumers
Co-op in order to draw in new clients. The city council works very closely with local
businesses in facilitating all aspects of business management in order to keep tourism
flowing. Because of this, Global has already signed contracts with nine Leavenworth
businesses and we expect to gain a dominant market share within the town.

The Consumers Co-ops will be recommending Global Imports, Inc. to its new farmers as long
as we can keep shipping costs within accepted limits. Therefore we expect to have a large
proportion of member farmers use our services.

Management Summary
Company officers include our President, Mr. Frank Curtiss, our head of exports Ms. Hannah
Mills, and our head of imports, Mr. Steve Iltheus.

6.1 Personnel

Global's management brings to the company strong capabilities in all aspects of trade
relations, logistics, contracting and selling.

Mr. Frank Curtiss is a former master distributor with Fisher-Mills, one of the nation's largest
import/export firms. During his 10 years with Fisher-Mills he worked exclusively on trade
contracts with Germany. In 1996 Mr. Curtiss accepted a position with Eagle Distributors as a
department head. By introducing American wines into eastern Europe and the former Soviet
republics he demonstrated his flair for opening new markets. Mr. Curtiss has an MBA in
finance and an BS in International Relations.

Ms. Hannah Mills graduated with honors from the University of Oregon, having earned a
bachelors degree in marketing in 1988. From 1988-1994 Ms. Mills worked for Stanford
Distributors working with canning companies in the midwest region. In 1995 she went to
work for Anderson Consulting in their International Trade division. Four years later, Ms.
Mills became vice president of A.V. Imports.

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 Personnel Plan
Year 1 Year 2 Year 3
Mr. Frank Curtiss - President $36,000 $36,000 $45,000
Mrs. Hannah Mills $36,000 $36,000 $45,000
Mr. Steve Iltheus $24,000 $36,000 $36,000
Other $0 $0 $0
Total People 3 3 3
Total Payroll $96,000 $108,000 $126,000

Financial Plan
Our financial plan anticipates one year of negative profits as we gain sales volume. We have
enough investment to cover these losses, and have an additional credit line available if sales
do not match predictions.

7.1 Important Assumptions

We are assuming approximately 50% sales on credit and average interest rates of 10%. These
are considered to be conservative in case our predictions are erroneous.

Since Global is an import/export broker, the firm has no variable costs associated with it.

General Assumptions
Year 1 Year 2 Year 3
Plan Month 1 2 3
Current Interest Rate 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00%
Tax Rate 30.00% 30.00% 30.00%
Other 0 0 0

7.2 Break-even Analysis

Our break-even analysis is based on the assumptions that our gross margin is 100%. In other
words, we will have insignificant direct cost of sales. Since each market segment is so
completely different, it is difficult to assign an average per unit revenue figure. However, it is
believed that during the first three years, average revenue per unit per month will be about

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$4.00, due to the fact that, initially, we may be working with smaller companys projects. We
expect that about 3,500 units per month will guarantee break even.

Break-even Analysis
Monthly Revenue Break-even $14,067
Assumptions:
Average Percent Variable Cost 0%
Estimated Monthly Fixed Cost $14,067

7.3 Projected Profit and Loss

The following table itemizes our revenues and associated costs. We expect to be paying
higher costs in marketing and advertising than other companies as we attempt to build sales
volume. We expect monthly profits to begin in April 2004 and yearly profits to occur in
2005.

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 Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $160,000 $201,000 $266,000
Direct Cost of Sales $0 $0 $0
Other Costs of Sales $0 $0 $0
Total Cost of Sales $0 $0 $0
Gross Margin $160,000 $201,000 $266,000
Gross Margin % 100.00% 100.00% 100.00%
Expenses
Payroll $96,000 $108,000 $126,000
Sales and Marketing and Other
$8,400 $8,000 $8,000
Expenses
Depreciation $0 $0 $0
Rent $12,000 $12,000 $13,000
Utilities $3,600 $3,600 $4,000
Insurance $3,000 $3,000 $3,000
Payroll Taxes $14,400 $16,200 $18,900
Travel $24,200 $12,000 $10,000
Other $7,200 $8,000 $10,000
Total Operating Expenses $168,800 $170,800 $192,900
Profit Before Interest and Taxes ($8,800) $30,200 $73,100
EBITDA ($8,800) $30,200 $73,100
Interest Expense $2,035 $1,820 $1,600
Taxes Incurred $0 $8,514 $21,450
Net Profit ($10,835) $19,866 $50,050
Net Profit/Sales -6.77% 9.88% 18.82%

7.4 Projected Cash Flow

The following is our cash flow table and chart. We do not expect to have any short-term cash
flow problems even though we will be operating at a loss for the first year. Our short-term
loan will be repaid in three equal payments in 2014-2015. Our long-term loan will be paid off
in ten years.

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 Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $80,000 $100,500 $133,000
Cash from Receivables $62,767 $96,084 $125,999
Subtotal Cash from Operations $142,767 $196,584 $258,999
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
Subtotal Cash Received $142,767 $196,584 $258,999
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $96,000 $108,000 $126,000
Bill Payments $70,247 $73,711 $88,568
Subtotal Spent on Operations $166,247 $181,711 $214,568
Additional Cash Spent

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Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current
$0 $2,000 $0
Borrowing
Other Liabilities Principal Repayment $0 $1,000 $1,000
Long-term Liabilities Principal
$1,200 $1,200 $1,200
Repayment
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $4,000 $10,000 $42,000
Subtotal Cash Spent $171,447 $195,911 $258,768
Net Cash Flow ($28,680) $673 $231
Cash Balance $9,869 $10,543 $10,774

7.5 Projected Balance Sheet

The following table is the Project Balance Sheet for Global Imports.

Pro Forma Balance Sheet

Year 1 Year 2 Year 3
Assets
Current Assets
Cash $9,869 $10,543 $10,774
Accounts Receivable $17,233 $21,649 $28,650
Other Current Assets $15,000 $15,000 $15,000
Total Current Assets $42,103 $47,192 $54,424
Long-term Assets
Long-term Assets $10,000 $10,000 $10,000
Accumulated Depreciation $0 $0 $0
Total Long-term Assets $10,000 $10,000 $10,000
Total Assets $52,103 $57,192 $64,424
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $6,588 $6,011 $7,393
Current Borrowing $9,000 $7,000 $7,000
Other Current Liabilities $8,000 $7,000 $6,000

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 Subtotal Current Liabilities $23,588 $20,011 $20,393
Long-term Liabilities $10,800 $9,600 $8,400
Total Liabilities $34,388 $29,611 $28,793
Paid-in Capital $53,750 $53,750 $53,750
Retained Earnings ($25,200) ($46,035) ($68,169)
Earnings ($10,835) $19,866 $50,050
Total Capital $17,715 $27,581 $35,631
Total Liabilities and Capital $52,103 $57,192 $64,424
Net Worth $17,715 $27,581 $35,631

7.6 Business Ratios

We have included industry standard ratios from the trade consultant industry for comparison.
Our NAICS industry class is currently Miscellaneous Nondurable Goods Merchant
Wholesale - 424990. Our projections indicate a healthy company that will be able to obtain
and retain long-term profitability.

Ratio Analysis
Industry
Year 1 Year 2 Year 3
Profile
Sales Growth 0.00% 25.63% 32.34% 6.98%
Percent of Total Assets
Accounts Receivable 33.08% 37.85% 44.47% 26.80%
Other Current Assets 28.79% 26.23% 23.28% 43.95%
Total Current Assets 80.81% 82.52% 84.48% 75.76%
Long-term Assets 19.19% 17.48% 15.52% 24.24%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 45.27% 34.99% 31.65% 31.78%
Long-term Liabilities 20.73% 16.79% 13.04% 17.26%
Total Liabilities 66.00% 51.77% 44.69% 49.04%
Net Worth 34.00% 48.23% 55.31% 50.96%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 100.00% 100.00% 100.00% 100.00%

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Selling, General & Administrative
106.77% 90.12% 81.18% 85.31%
Expenses
Advertising Expenses 0.00% 0.00% 0.00% 1.02%
Profit Before Interest and Taxes -5.50% 15.02% 27.48% 1.90%
Main Ratios
Current 1.78 2.36 2.67 1.88
Quick 1.78 2.36 2.67 1.48
Total Debt to Total Assets 66.00% 51.77% 44.69% 3.41%
Pre-tax Return on Net Worth -61.16% 102.90% 200.67% 55.78%
Pre-tax Return on Assets -20.80% 49.62% 110.98% 7.72%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin -6.77% 9.88% 18.82% n.a
Return on Equity -61.16% 72.03% 140.47% n.a
Activity Ratios
Accounts Receivable Turnover 4.64 4.64 4.64 n.a
Collection Days 56 71 69 n.a
Accounts Payable Turnover 11.36 12.17 12.17 n.a
Payment Days 28 31 27 n.a
Total Asset Turnover 3.07 3.51 4.13 n.a
Debt Ratios
Debt to Net Worth 1.94 1.07 0.81 n.a
Current Liab. to Liab. 0.69 0.68 0.71 n.a
Liquidity Ratios
Net Working Capital $18,515 $27,181 $34,031 n.a
Interest Coverage -4.32 16.59 45.69 n.a
Additional Ratios
Assets to Sales 0.33 0.28 0.24 n.a
Current Debt/Total Assets 45% 35% 32% n.a
Acid Test 1.05 1.28 1.26 n.a
Sales/Net Worth 9.03 7.29 7.47 n.a
Dividend Payout 0.00 0.50 0.84 n.a

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