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[edit] BAMBAMS
[edit] History and Ownership
BamBams was formed by partners Bill Warren and Daniel Taylor as a limited liability company in Lorton, Virginia, in April 2003. The Company’s third partner, Damien Siggia, joined BamBams in December 2004.
Bill Warren owns 51 percent of capital stock and serves as the Company’s chief executive officer. Mr. Warren provides strategic oversight for the business and has limited involvement in day-to-day operations. Daniel Taylor is BamBams’ president and owns 34 percent of capital stock. Mr. Taylor provides general oversight of business operations with a focus on sales, marketing, product development and the China operations. BamBams’ third shareholder, Damien Siggia, owns 15 percent of capital stock and serves as the Company’s chief financial officer. As CFO, Mr. Siggia manages the organization’s accounting, finance, logistics operations, human resource, and MIS functions.
[edit] Customer and Geographic Markets
BamBams’ two operating divisions provide the Company’s products to other promotional products distributors and to the end-user market, including amateur and professional sports teams. The lion’s share of business is derived from customers throughout the U.S. (85 percent of sales) and Canada (10 percent), with the balance coming from overseas markets (5 percent).
[edit] Facilities
The Company operates from a 2,700 sq. ft. headquarters facility in Lorton, Virginia. BamBams’ China office is located in Xiamen, China, in the southern province of Fujian.
[edit] Personnel
Excluding the three active owners, BamBams’ staff is comprised of 12 full and part-time non-union employees in the U.S. and six in China.
[edit] Facilities
The Company operates from a 2,700 sq. ft. headquarters facility in Lorton, Virginia. BamBams’ China office is located in Xiamen, China in the southern province of Fujian.
[edit] Growth Opportunities
Management is confident that the Company is well positioned to leverage a proven business model and excellent sourcing relationships in China to continue to achieve outstanding growth. There are significant opportunities to grow BamBams’ business well beyond current levels.
Since the Company’s inception, management has aggressively implemented a fiscally sound expansion strategy and has built a scalable infrastructure to increase the Company’s market share in an estimated $18 billion industry.
[edit] CORPORATE HIGHLIGHTS
• A reputable and rapidly growing supplier of promotional items including sports marketing products, silicone awareness bracelets, and corporate awareness and gift products.
• Founded in 2003 by current ownership, the Company enjoys an outstanding reputation for quality product offerings.
• Superior customer service has resulted in strong customer relationships and a high rate of repeat business.
• The Company is headquartered in Lorton, Virginia and maintains offices in Xiamen, China.
• A highly diversified customer base is comprised of approximately 2,700 distributor accounts throughout the world
• The Company’s geographic market is worldwide, with 85 percent of sales in the U.S, 10 percent in Canada and 5 percent overseas.
• Strong relationships with over 35 factories in China ensure high product quality and quick manufacturing turnaround.
• Employs a unique product procurement process through a “just-in-time” manufacturing model, which allows the Company to maintain very little or no inventory
[edit] PRODUCTS AND SERVICES
[edit] Background and History
BamBams LLC’s beginning can be linked to the 2002 World Series between the Anaheim Angels and San Francisco Giants. During the course of that event, “Cheerstix” and “Thunderstix” emerged as wildly popular sports promotional products. These tubular, inflatable cheering accessories were supplied by one manufacturer located in Beijing, China, and one in Chicago, Illinois.
Recognizing a viable market opportunity, BamBams’ co-founders, Bill Warren and Dan Taylor, set out to source and distribute their own product line, BamBams’ noisemakers, and subsequently visited China in February 2003 to establish a relationship with a local manufacturer. In April 2003, BamBams was organized as a limited liability corporation in Lorton, Virginia. As manufacturing relationships strengthened and new relationships were added with the aid of the Company’s international staff, BamBams was able to add new product lines and pursue new markets. In January 2005, BamBams introduced silicone awareness bracelets, which proved to be hugely successful. By December 2006, the Company had established relationships with more than 35 factories in China. BamBams has sold over 22 million noisemakers since April 2003 and over 21 million silicone bracelets since January 2005.
[edit] Products and Capabilities
BamBams imports and distributes promotional products and advertising specialties, including sports marketing products (e.g., noisemakers, foam cheering products, fan scrolls, car flags, banners, etc. – 48 percent of sales), silicone awareness bracelets (28 percent of sales); clothing apparel (e.g., scarves beanies and caps - 9 percent of sales); and a diverse array of corporate awareness and gift products (flashlights, digital cameras, merchandise bags, duffel bags, pens, lanyards, etc. – 15 percent of sales). BamBams has plans to open a decorating factory in China to inventory select items for decorating with an extra quick turnaround time. At the same time, items decorated at the Companies decorating factory will be sold at substantially higher margin while helping to assist high MOQ requirements that arise under normal circumstances of doing business with larger factories in China.
[edit] Manufacturing and Logistics
The Company sources its current products entirely from a network of more than 35 factories in China. With the assistance of six dedicated employees at its office in Xiamen, China, BamBams is able to maintain a high level of control over the manufacturing process, quality control, and logistics.
Unlike traditional suppliers that source from China, BamBams employs a unique product procurement process through a “just-in-time” manufacturing model. The Company maintains minimal or no inventory except product samples. Each customer order is treated as a made-to-order job to be manufactured at one of BamBams many affiliated factories. Shipment of product is facilitated through aggressive UPSTM and FedEx® contracts that enable a quick worldwide transportation and logistics system. Through this system, BamBams offers distributors the following four levels of service and pricing:
• Super Saver (eight weeks door-to-door service via consolidated ocean freight) • Economy Service (five-six weeks door-to-door service via consolidated air cargo) • Priority Service (two-three weeks door-to-door service via UPS Expedited service) • Rush Service (one-two weeks door-to-door service via UPS Express)
[edit] Suppliers
Strong factory relationships established over a relatively short period of time serve as the linchpin behind BamBams’ success — success made possible through the establishment of an office in Xiamen, China, that is staffed by six nationals. Two dedicated sourcing agents at that office communicate and negotiate directly with each factory to ensure the highest quality products at the lowest possible costs. Currently, BamBams has established relationships with more than 35 factories in China.
