Creating a Business from Wooden Pallets
24 Mar 2017
There are business opportunities all around us: all it takes is the right attitude and mindset to pick up on successful money-making schemes. One person who knows much about building business is Andrew Goh, Managing Director of Taik Sin Timber Industry.
Who Is Andrew Goh?
Entrepreneur Andrew Goh started his career helping at his father’s hardware store in Malaysia, which sold timber products amongst other construction items. A few years into his business, Goh Snr recognised that there was a high demand for wooden pallets and therefore began selling new wooden pallets to warehouses, trading under the name of Taik Sin Timber Industry. After completing his education, Goh joined the family business and, with his methodical approach and his appetite for learning, he soon found that pallets could be reused in the wooden pallet industry to help save the environment. This, as well as the manufacture of new timber pallets, became a major component of Goh’s successful business growth following his father’s retirement from Taik Sin in 1991.
How Have Wooden Pallets Helped Goh Transform His Family Business?
The wooden pallet business is important to supply chains, as they are used to transport products efficiently from one place to another during the course of their manufacturing process. It was Goh Snr’s decision to move into the wooden pallet business that really shaped Taik Sin Timber Industry, yet it was the popularity of pallets and his son’s research into the sector that spurred this commitment. And not without reason. At the start of the journey, Taik Sin was producing around 2,000 wooden pallets a month. Compare that figure with today’s 10,000 or more pallets per month, and you can see just how well the business took off!
What Opportunities Arose from Working with Wooden Pallets?
Not only did Goh benefit from watching his family’s business grow, but he also got to experience growth himself following numerous years getting to know the company that he now runs today. As a young entrepreneur, Goh started off doing sales, collecting payments and assisting in the factory as well as operating forklift trucks even before he passed his driving test. He continued to learn on the job and quickly learned how to turn mistakes into improvements, which became a valuable lesson when he took on his senior role.
How Has the Experience Made Goh a Better Businessman?
The trials and tribulations of running a business have taught Goh to be an entrepreneur in his own right and to never give up on his hopes and dreams to bring success to his family business. Though the company was sometimes up and sometimes down, and he at times found aspects of managing staff quite difficult, Goh saw every challenge as an opportunity to do his job a bit better, and it was this positivity that got him where he is today.
Where Is Taik Sin Timber Industry Now?
Taik Sin now manufactures used and new wooden pallets for over 300 clients from the fast-moving consumer goods industry as well as domestic customers. In 2016, the company took in a revenue of 10 million Malaysian ringgit, which is the equivalent of £1.8 million. In addition to selling new and used timber pallets, Goh is looking at ways that he can expand the business even further, such as introducing more warehouses and distribution centres as well as taking the business overseas.