Company Profile:
In 1975, Jordan Wood Industries Co.Ltd. (JWICO) was established as a private limited company in joint venture with Jutlandia Dore of Denmark for the purpose of producing and selling wooden doors. In early 1983, it became a public shareholding company and gradually expanded its’ business to include kitchen cabinets, offices, bedrooms and hotel furniture. It is now the leading wood manufacturing company in Jordan and the only public shareholding company in this industry with a capital of 4.5 million Jordanian dinars.
How did you start your business?
Having studied and worked in the United States for 8 years, I returned in 1974 with the purpose of starting my own manufacturing company. I wanted to take advantage of the new wealth in the Middle East as a result of the higher oil prices. I researched the market and came up with the idea of producing ready made doors to meet the high demand of housing projects. I met others who were interested in this project and introduced me to our new joint venture partner from Denmark. After joining forces and capital, we established JWICO as a private shareholding company in November 1975 with a starting capital of JDs 240,000 only.
When you first started your business, were you expecting that it would become not only your full-time occupation, but also a growing company?
As a General Manager, I started the business expecting to work full-time. However, I did not anticipate how far the company would grow. In the initial stages, I would have been satisfied if we had sold JDs 500,000 worth of goods per year. In 2008, we exceeded 13 million. We started off with a building area of 3,000 square meters. Currently, it surpassed 21,000 square meters which is seven folds.
What is the most rewarding thing you have accomplished and why do you cite it above all your other accomplishments?
I provided employment and income to about 350 employees and workers who support their families. I cite it above all my other accomplishment because it contributes to reducing unemployment, alleviates poverty and raises the standards of living of the people in Jordan- which matters the most.
What were the biggest challenges you faced as an entrepreneur and how did you overcome them?
In 1983, over 92% of our sales were wooden doors to Iraq. We were dependent on one product, one market and one customer – mainly the government of Iraq. At that time, the war between Iraq and Iran was reaching it’s peak and no one could predict the outcome. If Iraq had stopped buying from us, we would have gone bankrupt. We decided to diversify our products and concentrate on the local market for our daily bread and butter. A professional market research study was assembled; consequently, we decided to produce an upscale-market kitchen cabinets, bedroom and office furniture. In 1986-1987, we built and installed a new production facility to produce these products. We opened our new showroom on Mecca Street to cater for local retail sales which saved JWICO.
Since then, local retail sales constituted the major part of our sales.
What do you think it takes to be successful in the industry your company competes in?
Beautiful designs, durable and high quality products, an excellent before and after sales service, and of course, an attractive showroom in a strategic location with good displays.
What advice would you give to those contemplating starting their own business?
Prepare well. Take your time to study and research the market. Gather a good team of qualified people. Provide adequate finance to keep you afloat in case of difficulties, especially in a volatile market such as ours.
What is the question I did not ask, but should have?
What are you plans for the future?
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