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Earnings, he reports, sprang from $3.5 million in 1981 to $34 Million final year. Echevarria projects $50 million annually, $80 million in 3 years. http://skateszone.com/purchasing-latex-futon-mattress-pros-cons/

 The company currently employs 275 workers, a 20 percent growth So far this season. Beside the plant, the business has 25 warehouses throughout the nation.

 Things haven't always gone so smoothly for Echevarria, now 59, Who was born in Lares, Puerto Rico, and moved to New York at age 5. He abandoned the Big Apple at 27 to become a plant manager for a quiting company in Minneapolis only to discover winter there was no place for a native Puerto Rican.

 In 1960 he was given a job by a different quiting company in Los Angeles and from 1966 was prepared to go into business for himself. Borrowing $25,000 by a friend and another $10,000 from his step mother, he began his own company here as a quilter and a fabricator of polyurethane foam for the costume and bedding trades.

 Being a seller to all those transactions is a lumpy business filled with Stops and starts, Echevarria learned to his dismay. At one stage, he recalls, his accountant warned he must think about filing for Chapter 11 bankruptcy protection.

Administration loan for $150,000 to reconstruct working Capital, Echevarria managed to receive his own vendors"appeased." However, getting fresh credit was tough.

 Years ago, while vending to additional mattress makers, Echevarria made Foam"topper pads" to go over the tops of waterbeds. He then started quilting the pads dlater gave them skirts.

 Observing how many entrepreneurs were making a go of it at the Young waterbed industry,"despite a lot of bedding failures (leaks)," Echevarria figured it might be his escape in the vagaries of a venfor's livlihood. Rather than a water filled mattress, he devised a new kind of waterbed that would be less prone to leaks using 11 inch diameter plastic cylinders, 55 inches long, full of water, together with seven these cylinders in a queen size mattress.

 For the brand new project off the floor, though, he desired fresh Financing. Unable to have a commercial loan, Echevarria took a fresh loan on his home.

 "Once I introduced my'Somma' (waterbed) mattress in 1978, people thought I had been Foolish," he remembers. "But today at least 14 makers are copying it," he mutters,"even though we spent $750,000 last year on lawyer fees trying to protect our patent rights"

The Somma mattress did Prove Echevarria's ticket out of vending to other producers. Last year that he liquidated his quilting and foam businesses to free up 60,000 square feet in the plant to boost Somma mattress production ability.

 However, Echevarria stays especially sensitive to the issues of Vendors and is particularly appreciative of how many have aided him. On Sept. 18 he gave a"black tie optional" feast in the Los Angeles Hilton Hotel to honor representatives of his 115 vendors whom he called"the secret of our success"

 They range from a small janitorial service to the giant DuPont Co. and the Los Angeles Department of Water & Power, of which he became a commissioner in 1984. 1 purpose of the banquet was to inform the vendors of Echevarria's growth plan because they"have to get involved" so they could prepare for it. By way of example, Echevarria just revealed his debut of a foam futon mattress to fill a market in his product line. In addition, he says he isn't ruling out an innerspring futon mattress"because we are in the sleep, not waterbed, business."

 Another purpose of the banquet was to thank the vendors for Their aid and to give special awards to certain vendors whose help has been"above and beyond." An electrical contractor, for instance, was singled out for hooking up Echevarria's gear immediately when issues delayed the organization's transfer from four places to the new plant.

 Even though Echevarria confides he had been anxious about the day For the vendors, whom he calls his"loyal spouses," the provider is very much a family affair. His son Michael, 35, is executive vice president and Chief operating officer; another son, Robert, 30, is in sales and marketing; And a kid is involved in particular projects for the business whilst increasing Two daughters of her own. https://en.gravatar.com/futonadvisorszone