Willamette Furniture
Company Summary
Willamette Furniture Mfr. is a privately-owned specialty manufacturer of high-end office furniture for computer users who care about elegant office space. Our customers are in all levels of business that can afford very high quality office furniture, plus a growing portion of high-end home offices.
2.1 Company Ownership
Willamette Furniture Mfr. is an Oregon corporation, subchapter S, owned entirely by Jim and Susan Graham. It was created in 1992. At that time the product line and industrial property rights (including trademarks) were purchased from the heirs to the Willamette Association, which was a 1970s commune in rural Oregon.
2.2 Company History
Willamette Furniture Mfr. had actually existed since the 1970s as a “hippy commune,” but its present existence began in 1992 when the furniture line was purchased by Jim and Susan Graham. The Grahams moved to Oregon from California and purchased the business as part of the move.
Sales took a big jump in 1997, when we reached more effective channels of distribution. The key was winning a place in the Premier Executive office furniture catalog, which led to winning the interest of the Needham furniture distributors, and display space in several hundred stores.
Profitability and working capital were problems during our recent growth, but we believe we now have costs and cash flow under control.

Past Performance | |||
1995 | 1996 | 1997 | |
Sales | $127,809 | $130,568 | $225,790 |
Gross Margin | $58,381 | $72,374 | $105,245 |
Gross Margin % | 45.68% | 55.43% | 46.61% |
Operating Expenses | $54,602 | $69,801 | $90,125 |
Collection Period (days) | 0 | 0 | 36 |
Inventory Turnover | 4.00 | 4.70 | 6.00 |
Balance Sheet | |||
1995 | 1996 | 1997 | |
Current Assets | |||
Cash | $0 | $0 | $1,438 |
Accounts Receivable | $0 | $0 | $27,605 |
Inventory | $0 | $0 | $10,141 |
Other Current Assets | $0 | $0 | $2,375 |
Total Current Assets | $0 | $0 | $41,559 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $3,210 |
Accumulated Depreciation | $0 | $0 | $1,720 |
Total Long-term Assets | $0 | $0 | $1,490 |
Total Assets | $0 | $0 | $43,049 |
Current Liabilities | |||
Accounts Payable | $0 | $0 | $11,191 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities (interest free) | $0 | $0 | $1,803 |
Total Current Liabilities | $0 | $0 | $12,994 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $0 | $0 | $12,994 |
Paid-in Capital | $0 | $0 | $4,500 |
Retained Earnings | $0 | $0 | $13,100 |
Earnings | $0 | $0 | $12,455 |
Total Capital | $0 | $0 | $30,055 |
Total Capital and Liabilities | $0 | $0 | $43,049 |
Other Inputs | |||
Payment Days | 0 | 0 | 35 |
Sales on Credit | $0 | $0 | $140,434 |
Receivables Turnover | 0.00 | 0.00 | 5.09 |
2.3 Company Locations and Facilities
Willamette Furniture Mfr. is located in a single facility in the West Eleventh industrial district in Eugene, OR. The facility includes office and workshop space, access to the local bus route, and good parking.