If you are considering setting up a business overseas, then you might already have a business set up or, perhaps you want to get into business but, you’re stuck for ideas as to which industry you should be looking at and, which countries are worth considering in terms of exposure, potential growth and, future growth.
Where to go?
When looking at setting up a business overseas, it would make sense to look at, where your products are likely to get maximum exposure, taking a quick look at the world map shows that Asia equates to around 30% of the world’s population so, that could be a good place to start. Then all you need to do is to figure out, what to sell and how to do it. If you are thinking of setting up in Thailand, the best moving company rates in Bangkok are from the leading commercial removals specialist. The Land of Smiles has a stable government and a sound economy, which makes for a great base for a new enterprise.
It’s all about cosmetics
Asia makes up nearly 50% of the total cosmetics, consumer market, which has a projected growth of around 30% between 2019 to 2025, so, if you are looking for an area of business to get into, the Asian cosmetics market might be worth a look. It is hugely competitive as you would imagine so the old rules still apply;
- Some people will buy it anyway
If you can manage to get a cosmetics product on the shelves of a convenience store chain, then you should be on to a winner, some people will buy anything anyway if it’s marketed properly. When looking to buy real estate, here are a few essential things to know.
- Price your products accordingly, if you can undercut the competition then do it
Sometimes a really low cost suggests cheap and people would rather go for the middle of the range product than to be seen going for the ‘cheap’ version. In particular, parts of Asia, self-image is really important to a lot of the younger generation, so, do your research, if possible, offer a low end, medium and a high-end product then at least you’ve got the consumer budget choice covered.
- Offer something a little different, find something or create something with unique qualities
Easy to say, but, look for something desirable yet with a uniqueness so that it stands out from the rest of the crowd. In Thailand, for example, the younger Thai females love the idea of ‘whiter skin’, for a number of reasons ranging from deep seeded belief to completely superficial, either way, whitening products of some kind would be a seller for sure.
Seek advice of a professional
Although there are some facts of matter within this article, setting up a business in Thailand is a serious endeavour, so make sure you get the assistance of a professional business consultant.