The export business can be a lucrative one, but it does require a certain amount of application and commitment from the business owners. Not every company wants or needs to join the export market, but for the right company, the opportunity to sell your products abroad and enter foreign markets can be a rewarding experience.
The biggest advantage of exporting is that you can expand your market beyond the UK’s borders. Essentially, it’s a great way to grow your business. How far afield you plan to export will be a major factor in how successful your operation will be – and how much it will cost you. By expanding into new markets, you’ll be less dependent on your home one. If you’re successful, this could lead to higher profit margins, which then lead to larger economies of scale and greater production at less cost. The fact that a country seeks to import your products will also be in your favour, as for its scarcity it will be priced accordingly – the more unique your product, the higher the price point.
The internet has had a major impact on the way products and services can be promoted and distributed, not just nationally but globally too. It’s made it a lot easier even for small and medium-sized businesses to compete on a global scale and enter into export markets. Trading in this way also strengthens the economies of both participants. Some countries are rich in resources, while others have the commitment and know-how to create products that will sell. If a country’s population want to buy something that isn’t made in their own country, then the natural progression is to import it. The internet has facilitated the ordering and advertising of such products, and exporters have learned the value of using this tool to their best advantage.
If you have a product that has saturated its home market, then looking further afield can provide a greater opportunity for expansion and potential sales. Thoroughly research your new market and find out how best to promote your product to appeal to a specific local audience. If the product takes off, this could even lead to overseas expansion on a grander scale, with a production base located in the country.To strengthen your business with export, it is vital you partner with a good logistics operator
In the first instance, choosing the right logistics partner can make all the difference when it comes to entering the export market. Knowing your logistics partner is reliable and will deliver excellent and efficient service is paramount. Choosing one that’s ideally placed for the infrastructure network is a major plus. You should look for a logistics partner near key road and rail networks, waterways and ports. This will help you keep logistics costs down.They can go the extra mile to get your products market-ready
You might also have to tailor your products to a local market, especially the packaging and labelling. A good logistics partner will be able to help with this. To overcome this hurdle, look for one that’s invested in onsite packing facilities, like us.
Whatever your ambitions are for growth, exporting should be considered part of the strategy of any successful business.Need a good logistics partner to help your business grow?
Boughey Distribution works with all kinds of businesses, both large and small, to supply goods to some of the biggest retail stores in the UK and overseas. Our warehousing and distribution centre in Wardle, Cheshire, is positioned at the hub of the North West’s road and rail network, and is also well situated for the Port of Liverpool and the Manchester Ship Canal, which is currently undergoing a major upgrade to facilitate freighting from Peel Port in Liverpool.
The investments we make in our own facilities allow us to help our export clients by offering packaging and labelling services – and numerous others.
To find out how we can help with your export operations and strengthen your business, get in touch.