Starting a company is a big deal, but running it so successfully that you are actually looking for ways to expand is another beast entirely. You need to be even more careful when you expand your business – particularly if you are looking to open up offices or shipment to foreign countries. From local laws to choosing the right companies to partner with, there is so much to consider before you set out to become an international success:
Establish Your Business Locally
You need to be a well-known and well-loved brand locally before you can start expanding globally. You need this not only to provide the cash reserves to successfully expand your operations but to also provide the reviews and trust that international consumers will need to buy from you.
Commit to Demographic Research
It is foolish to set up any international business deals without first researching. To be successful, you need to expand to areas that have the greatest population of your demographic. If people don’t see the point or need your company in a new country or city, then all the effort and money put into expanding will be for naught. Once you gather the data, you can create an interactive demographic map to have a clear picture and gain better insights whether it would be a good move or not.
Open Up Your Brand Internationally
A great way to test the waters without opening up a foreign office is to:
1. Partner with Local Sellers
Local sellers can buy your products directly in bulk, allowing you to expand your sales and reach simultaneously. They, in turn, will use their brand influence to introduce your product to a new market. Done first, this can boost your brand image and customer loyalty before you create more official channels.
2. Create a Local Delivery Program
Another way to sell to populations outside of your home country is to partner with a local distribution company. This way you can sell your products overseas without necessarily having an office over there, only international shipping options.
Hire an Immigration Lawyer
Dealing with another country’s rules and regulations is one thing if you are selling products to another seller, or setting up a business deal with a local distribution company. Opening up another office or store and bringing in your own employees from home over there to run the operations is another beast entirely. You will want to hire a specialist investment immigration attorney like Hirson Immigration so that you can successfully and legally open up a new head office.
Create Your Head Office
Once you have the advice and expertise of an immigration lawyer on your side, you can then work on where your new head office should be. This will depend on law restrictions, where your demographic is, and of course your budget.
Who to Bring Over and Who to Hire
You will want to bring over trusted employees to manage your company, yes, but never assume you understand the country and its people more than local talent. Hiring locals for your marketing department, for example, can help you create custom campaigns that will speak to your overseas demographic.
Expanding your business globally is not easy. It requires a lot of different partnerships to come to fruition, so do your research and ensure that when you expand you are making the best choice.