Elsa Fairbanks (Director at FDEA), Laurence Bass (Cheshire Cheese Company) and Gerry O’Reilly (itradein.com) run us through how to find the right export partners and how to find the right route for you.
You can watch the video of the webinar below, and check out our Recent Webinars page to access all the Open to Export webinars giving practical guidance and answers to all your exporting concerns.
Identify priority markets
- Where is the largest consumption of your product? – It makes sense to look into this as this should inform how you plan to sell your product going forwards.
- Is there an established marker of you product – Who is your key competitor? How is the market expanding? How do you reach your target customers? These are all important questions you should be asking when thinking about exporting abroad and in order to get a strong foothold.
- Monitor trends – for instance trends that are not longer in the UK may be emerging elsewhere in the world thus expanding the life of your products abroad.
Choosing and managing in-market partners
- Government bodies like UKTI can help put you in touch with potential partners
Fellow exporters can also help you find partners
- Make sure you know potential partners’ backgrounds – how does their sales operation work?
- Keep in contact with your local partners and develop mutual trust and loyalty
What is the best route to market to achieve your objectives
There are various methods and routes for you to find a market and all have different levels of risks attached to them. For instance on one end of the spectrum there is setting up your own business in another country – whilst this can you give you complete control of the operation it also carries the biggest risk.
On the other end of the spectrum you could use a UK based consolidator which will mean that there isn’t much a risk to your business, however, you will not retain much control. There are various other methods in between these two which could suit you better.