Business, Sales

Asif Ali Gohar on Expanding into New Markets

Expanding Markets

In a recent interview with Asif Ali Gohar we discussed how he plans to expand into new markets, when that may be happening, and how he is learning about these new areas. There is a lot of work that goes into any expansion, and one that is far from home in a different country is harder than most. Several adaptations are involved including work culture, laws and restrictions, suppliers, shipping, and licensing. Here we learn about how he approaches an expansion and what the most important considerations are.

“Always have someone who is local to where you are expanding to ensure that you have all of the right details and knowledge of the area” he suggested.

It can also be ideal to hire a lawyer in that space, who is familiar with the industry, to ensure that you are aware of all restrictions, tax requirements, licensing, and regulations. You will need to find a space as well, so having a realtor that you can trust and who is familiar with your business needs will make the transition smooth.

Additionally, visit the area a few times before the expansion. Learn about the local economy and also the communities. When you are looking for employees, it is beneficial to have built up some goodwill in the area and shown that you wish to be involved in the community and provide stable jobs. This will help if you need to find space if you need to work around bylaws and restrictions, and may even help to get approvals for buildings and businesses licenses faster.

When asked what the most important factors to consider are he responded that it is absolutely necessary to know all of the licensing, zoning, and tax laws. These will determine if it is possible and effective to have a business there or if you should look for another area. “If you are unwelcome or if there are too many rules that are restrictive of your specific industry, then it will cost more time and money to find ways to fit. Look for a location that has local suppliers, that has business-friendly bylaws, and has an area that is zoned for similar businesses and industry”. By following these suggestions, you can find just the right space to expand into.

Offering a product to sell into a new market or into a new country can be a risk. In order to limit that risk begin your expansion into areas that are requesting your product. If there are many requests for shipping expansion, or if you are shipping multiple times a day to the same countries or cities then it can be beneficial to open a branch there. It will save on shipping costs and help to connect your business with the local economy and customers, enhancing your current working relationship with them.


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