We are considered the leader in our niche industry and are looking to expand into the US (where what we offer seems to be a lot more socially accepted). There are currently a few questions I am wrestling with such as - seeking investment for the expansion, 3PL over own warehouse, has the AUS market reached it potential etc. In your opinion, what would be the key questions to ask prior to even considering my above questions. I would be open to discussing with a Mentor who has experience in expanding a FMCG company internationally. Any info would be much appreciated.
We have a potential distributor in Belgium who is wanting to know what the terms and aggreements would be. We have never had an offer like this put forward to us. Is it A) a good idea to go down this route to expand and B) who would be the best place to go to for contract and advice? We are wanting to expand our market place into the world (currrently we are already exporting to America and the UK) but needing advice and mentor ship as it is unchartered waters for us .
I have a small skincare production business based in Sydney, created five years ago. In a nutshell, I make everything by hand, the products are packaged by a disability enterprise and the brand has a social cause connected to DV shelters. I've built (bootstrapped) the entire business from savings, I'm a single mother working 70 hours a week in - not on, the brand. There is enormous potential for the brand both domestically and internationally, the T/O has increased consistently year on year with an annual t/o last FY of around $223k. Whilst I love what I've created I don't have the energy, time or finances to grow it. I don't know whether to sell completely or attract a business partner with the necessary skill set to help grow it.
Hi Mark, i have tried many avenues to get through to you to ask for your help and support with our Not-for-profit Organisation "Support Your Local Youth" in the Bankstown-Canterbury region. We are an organisation that helps keep the youths off the streets, out of jail, in in the sensible and right mind through offering a helping hand, guidance, jobs, and much more. we are just starting up and would love your support and help please.
How do i Expand my business for Australia wide coverage, Finance the Expansion and still have time for my family
I started my business in Melbourne over 11 years ago as a service provider for the Refrigerated Transport Industry. The business quickly grew off good affordable service and reputation to the extend where within 3 years we had 18 employees. By the 5th year of being in business i had noticed a shift in this market, money was cheap with banks lending to anyone who applied for a loan along with low interest rates so rather than having costly repairs my customers were opting to replace their equipment with new, with the dealers selling new equipment on a service contract, my customers and services i was providing them i found diminishing at an alarming rate. As a result my business turn over and profit diminished, staff level had dropped and the business was beginning to suffer. In my quest to still grow my business and secure its future i was able to (after 3 years of negotiation) secure an distribution agreement with one of the worlds largest Japanese manufacturing companies to supply their product to the Australian market but i would recieve no financial support from the manufacturer to do so. With the Australian market up until this point being a duopoly for over 35 years and customers screaming for an alternative to the 2 brands available i believe the brand i distribute already being a household name has the ability to disrupt the market and be the 3rd choice the market has been looking for. So far since 2015 we have seen moderate sales with a lot of interest in our product. Being that trucks do not just stay in the one place we expanded the brand exposure by having other small businesses become dealers for states outside of Victoria, this has has been an exhausting exercise that has resulted in myself being time deprived and inconsistent customer experiences. The beginning of 2019 has seen me resign another 3 year distribution contract with the manufacturer but this time the manufacturer has requested it be my business that expands for full Australia wide coverage so customers receive consistent pricing and experiences. My question is, how do i expand my business to have facilities in each capital city of each state (mostly the eastern seaboard as these areas make up over 80% of the market), How do i finance such an expansion when my business has had no support or very little to do with banks in the past and still find time to spend with my young family? (i have a 2 year old daughter and 4 year old son who both deserve my attention and time as much as the business does). Also how do i combat, fight back against my competitors when they have a turn over in the 100's of millions of dollars but my business seems stuck in the $2.5 mill range, as it has been for the past 7 or so years. I have the product with the big household known name that already has the reputation for its reliability and technology behind my business to make this expansion work and be successful but i am unsure how i go about it.