Today we’d like to introduce you to Jason Fu.
Jason, can you briefly walk us through your story – how you started and how you got to where you are today.
I arrived in the U.S. in 1996 motivated by the American dream to start my own business. I tried my hand at businesses in the real estate industry, the hotel sector, and even owned a bar in Rowland Heights.
Unfortunately, none of those really took off, so I migrated my efforts to some less glamorous sectors of the economy and eventually launched a door hardware business. I originally relied on suppliers in China with whom I had personal connections. Over time this opened my eyes to the potential that resided in manufacturer-direct commerce. However, door hardware does not carry high margins and the market was very small. I began to notice an opportunity for industrial equipment imports and founded my company, Bolton Tools, which exists to this day. More broadly, I yearned to bridge the gap between U.S. and Chinese equipment manufacturers. In the process, I wanted to lend my talents toward fostering improved relations between both countries to which I have personal connections.
We’re always bombarded by how great it is to pursue your passion, etc – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you?
The industrial space has roadblocks, such as how some customers are uncomfortable purchasing heavy machinery online, without the ability to see and touch it in person. Many customers in the industry are accustomed to the traditional distributor model complete with segmented territories. Toolots is working to change that; our Cerritos showroom includes some of the most popular items we offer online, and new machinery is proudly displayed for walk-in customers to see before purchasing. Also, we post high-quality photos and videos of many of our machines, tools, and products we offer for sale on Toolots.com for customers who are unable to visit our physical showroom.
Additionally, immigrants often have language barriers, which unfortunately can translate into a loss of dollars. What I learned from this challenge is the need for clear communication – not only with customers and potential customers, but also with employees and colleagues within the industry here in the United States and those we work with around the world.
So let’s switch gears a bit and go into the Toolots story. Tell us more about the business.
Toolots (https://www.toolots.com) is a cross-border e-commerce marketplace and international distribution channel for factory-direct industrial tools, machinery, equipment and technology. This factory-direct platform allows international manufacturers to easily and affordably purchase and sell industrial tools, machinery, and technology. We differ from our competitors because we are committed to having a robust customer service team with deep mechanical knowledge to help manufacturers choose the best piece of equipment for their specific needs, and we provide excellent service post-sale including troubleshooting assistance and our YuuTool (http://yuutool.us) service warranty option.
My vision for the business started with providing a platform to provides fast, easy access to high-quality, affordable equipment for manufacturers. Since then it has evolved to also providing comprehensive support to small and mid-size manufacturers including sales, marketing, promotions, funding, intellectual property protection, warehousing, logistics, fulfillment, administrative, legal and accounting support both here and in China. Our service offerings allow manufacturers to fully focus their efforts on their core competencies for gaining and expanding market share.
Has luck played a meaningful role in your life and business?
I encountered many of the same difficulties and roadblocks new immigrants face when arriving in this land of opportunity. But what I love is how we all can expect to ultimately succeed here if we as entrepreneurs devote ourselves to trying, to working hard, and to understanding that success (and luck) will come if you don’t give up along your journey.
Where do you see your industry going over the next 5-10 years? Any big shifts, changes, trends, etc.?
Through Toolots, we are trying to demonstrate that the e-commerce model, which has been proven successful for two to four-digit priced items in nearly every other industry, can also be applied to the industrial machinery and components market where prices tend to typically be in the five to six-digit range. We plan to be an integral part of helping American manufacturing prosper by offering SMEs (small to medium enterprises) the ability to purchase quality equipment at significantly reduced prices. This allows them to spend less on equipment investments leaving more of their capital available for spending on additional labor or wherever resources are needed in their operation.
Additionally, we hope to foster cross-border e-commerce by helping SMEs in the U.S. and China enter and succeed in both countries. Through these efforts we hope to do our part in the formation of a strong, lasting relationship between the U.S. and China while also supporting and contributing to the global manufacturing community.
- Address: 16300 Shoemaker Ave, Cerritos, CA 90703
- Website: https://www.toolots.com
- Phone: (844) 866-5687 (TOOLOTS)
- Email: email@example.com