How To Build A 6 Figure Export Business in 9 Months
This case study provides a different view to our usual client case studies. We wanted to share with you how we managed to create a 6 figure export business for a client during a Global pandemic, Brexit and some very challenging times. This has allowed the manufacturer to not only survive but also grow both their team and manufacturing capabilities during this period.
The initial project was undertaken just a few weeks before Covid hit the world and thanks to our long-standing relationships with buyers around the world, we still managed to push forward with business and create opportunities in our target markets. The importance of strong relationships has never been so important, especially when face to face meetings came to an unprecedented halt.
Below outlines the various elements of support we provided to help secure international supply contracts in a number of different export markets.
International Buyers Feedback
We visited several countries and presented a range of new product prototypes for validation in our target markets. The input we received on the product flavours, packaging and proposition really assisted us to hone the range offer.
Understanding global market trends and what type of products international buyers are looking for is of upmost importance when presenting new products and ideas. Market research is key and understanding consumer trends within the specific target markets helps to creating mutually beneficial contracts between the supplier and the buyer.
We have a range of key market insight reports and articles on global markets that you can access in our portfolio section.
Brand Developed & Launched
Following several months of online video calls (now we were grounded due to the pandemic) with our key international partners, we developed the product mix and the international offer to start trading.
This work was extensive and included being involved in ensuring product compliance with local regulations, multilingual packaging solutions, taste and nutritional profiles suited to target consumers and more. It certainly kept us busy during lockdown!
Alongside developing an international product range for this client and negotiating international trade deals for many others, we have created a suite of helpful online export tutorials to assist businesses with the (often overlooked) key requirements of selling products overseas. This includes both the strategic aspect of international business and marketing as well as the customs requirements with key documents such as the Commercial Invoice. This advice and know-how have been much more sought after following the UK’s departure from the European Union in January 2021.
14 Products Launched
First order received by our chosen consolidator. From a strategic and starting point of view we decided to partner with a trusted consolidator who could find customers for the brand in the target markets and with a low initial volume commitment to allow the brand and export opportunities to grow organically.
We also sign up our UAE local distribution partner and the first trial order is shipped.
It’s important to understand all of the different elements of product information needed to supply to international retailers and/or distributors as a part of the product evaluation stage.
This should include export specific details that your overseas buyer would require over and above domestic consignments.
At Bolst Global, we have devised a comprehensive document that allows international importers and buyers to be able to assess the product opportunities for your brand on a commercial and logistical basis. This can be downloaded and accessed via our online tutorial.
In partnership with a German online retailer, we developed one of the keto breakfast lines for their customer base and ship out the first order. Being flexible in our offering and the way of doing business with offering white label has opened up more global opportunities as a result!
Saudi Partner On Board
Saudi Arabia is the next target country to take on the full product range and a large first order is processed for our local distribution partner in this market. This has led to retailer listings in Carrefour and other modern trade retailers in Saudi Arabia since arriving in the marketplace.
Saudi Arabia Consignment Ready To Ship
Qatar Retailer Listing
The buyer for Holland & Barrett in Qatar loved the new range after presenting it to him virtually and the first shipment is sent out to multiple stores.
Kuwait Partner Appointed
More success quickly follows with a leading distributor supplying the Coops in Kuwait. This local partner sees the Keto opportunity and takes on the brand. The first of three sizeable orders are shipped in March.
Products on shelf in Kuwait
Jordan Free Trade Agreement
With the Free Trade Agreement between the UK and Jordan finally ratified, a previous order from a premium retailer in Jordon can finally go ahead. They take on the entire product range and once registered with the JFDA authorities the goods are sea freighted over to Jordan to launch post Summer.
New Products Developed
New breakfast items are added to the range following buyer requests that they would like more product lines in this area. Porridges and pancake mixes are now available and first orders from existing customers are received very quickly.
High Demand Increases Manufacturing
Thanks to these new overseas customers for the business, new jobs are created at the manufacturing facility with additional warehousing shifts needed to fulfil the growing international customer base.
Revise The Export Strategy
With most of the Gulf target markets now entered, we revisit the strategy to target new export markets and ensure continued growth in existing export channels. Expansion into these new territories have begun and we look forward to an even more successful year 2!
Now a 6 figure export business in just 9 months, we are looking forward to finishing the year on a high and continuing to build a successful export business with this client that in turn generates job creation, global opportunities and improved revenues and profitability for the business owner.
If you would like more information on how we can assist you with export journey or if you are a retailer or distributor looking to sell these kind of health and wellness products, please complete our contact form and one of our team will come back to you.