Steve Bendtsen
Bellingham, WA (USA)
Role(s):
Founder/Owner/Principal
62 Degrees North
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Startup
Location:
Bellingham
Industry:
Retail/Clothing
Year Founded:
2008
Number Employees:
1-10 people
Description:
62 Degrees North Inc was started on October, 2008. 62DN is a family owned and operated business located in Bellingham, Washington. 62DN is an importer of high quality and unique yarn from the Faroe Islands, between Iceland, Scotland, and Norway. Started as a part-time hobby business, we have seen measurable success and very favorable market place response. The reason for such positive response is due to the high quality of the product, it's pure and natural characteristics, and the 1`1story of the Faroe Islands themselves.
Our current strategy has been to grow sales through inside sales, Facebook Advertising, SEO, Ravelry, and through Social Networking sites. We currently have over 600 subscribers to our company newsletter and nearly 200 followers on Facebook. We also have a Blog and Twitter page. Depending on our advertising budget we see an average of 60-120 visits per day to our website. Initially, Steve Bendtsen, VP, had full time income as Director of Sales for a company that closed it's doors in April due to the economic downturn in manufacturing. We were planning on funding growth through Steve's income but that plan has changed.
Funding will be used for inventory investment ($15,000), marketing/advertising including TNNA trade shows, and growth in the product line. We are currently evaluating additional wool products from Iceland and will continue to explore other opportunities and revenue streams that would appeal to our customer base.
We believe the net margins provide a strong return for reinvestment and will facilitate the payback of any debt incurred to finance the growth of 62DN.