Although going global can present your company with many opportunities, expanding your business to countries in Africa is a big step to take, especially if your company is still a relatively small start-up. Before you rush into business in Kenya, here are some of the different elements of business expansion that you need to consider when you are relocating globally.
The Commercial Property You Need
Wherever you are located across the world, you will need a base and this is no different when you decide to set up in Kenya. Whether this is an office building for you to house employees or a warehouse to keep your stock safe, there are many types of commercial property that you may need to consider when you are dealing with international markets. To ensure that you can find the commercial property that you need abroad, you should consider searching on local property websites in Kenya. For instance, at Kenya Property Centre, they can help you to find the commercial properties that you need to rent or buy to do business effectively.
Your New Competition
When you have decided to locate your business in Africa, you will be opening your company to a host of new competition from the international market. This competition may already be filling your niche or may already be desired by customers. Before you make the final move to expand your business to Kenya, you should undertake market research that can allow you to have a concrete idea about who you will be battling for customers, as well as the marketing and promotion methods that they are using.
Your Product Lines
Although your product lines may have been coveted in your home country, a different culture may not appreciate your products as much as your competitors’. You should consider adapting your products to the interests and buying habits of Kenya, whether you do this by changing your marketing techniques and logo, your product’s name, or even its features. Your market research should indicate whether this is necessary or not.
The Costs of Expansion
Many business owners believe that the opportunities for wealth that global expansion brings them will instantly offset the costs of their venture. However, the return on your investment will not always happen as soon as you open in Kenya, especially if you do not have an already cultivated customer base there. You should make sure that you look into costs such as transport and import costs, supplier’s costs, and production costs globally, and then use this information to create a realistic budget for your expansion.
When you decide to expand your business, you may believe that everyone speaks the global business language of English. However, this is not always the case. You need to make sure that you can employ translation services in Kenya, especially in terms of written communication, or that you can employ team members locally who will be able to speak the language and help you to get your point across.