If your business in Toronto is growing, and you wish to win the United States market as well, that’s probably the best idea you could have. However, sharing your services outside the borders of your country really is a big deal. Things are never simple when you are about to make such a huge step. But, if you get ready on time, you can learn how to deal with all the problems and overcome the difficulties. Take a look at our ultimate guide for expanding a Toronto-based business to the U.S. and see what you may expect.
Get to know the situation in your company
First of all, you should have a clear picture of the situation your company is currently in. That would refer to how ready you, your co-workers, and your business are to expand to a market such as the one in the US. Make a meeting. Talk to your team, and share your plans and ideas with them. It would be nice if you ask them to tell you their own opinions too. You can never know whose perspective can be useful, and when. What’s more, that’ll be a nice chance to prepare your employees for the office relocation, since if you want to expand your business to some other country, you’ll need to have your branch office there.
1. The question of supply and demand- an important part of our guide for expanding a Toronto-based business to the U.S.
One thing is for sure, supply and demand aren’t the same everywhere in the world. Therefore, if your company got used to a certain amount of orders, typical for the Canadian market, you can well expect that that amount will rise considerably in the US. You simply shouldn’t be surprised when one day you get a very large order. Instead, you need to get ready in advance and provide your company with a sufficient number of employees and equipment to fulfill the order on time. And, take this seriously. The first time you meet a lack of any of these, there comes the delivery delay. No one likes to wait for too long, and you don’t want to seem unprofessional, do you?
So, give your best to focus on the production pace and try to work on quality. And when it comes to the packing process, being Toronto-based makes you the lucky one. Packing services in this city are more than excellent, and all the time-consuming tasks can be avoided by hiring professionals.
And, one more tip- customers would normally expect some discount or lower price because of the larger order. Just have that in mind.
2. A few words about your offer
Make sure that what you and your company have to offer really coincide with what the customers in the US want to buy. This is another point when you need to make a good and thorough inspection of the new market you want to expand to. Tastes differ everywhere around the world. So, find out what people in the US need the most. Don’t hesitate to follow your competitors and learn from their mistakes, too.
Then, there’s one more thing you need to know here. People in the US usually choose not to trust foreign products and services. The only thing that can really drag their attention is uniqueness. That is one reason why your foreign company has to have something that they cannot find in their own country. Thus, don’t make a mistake many Canadian companies make when they determine to come to the US and move their business there. Offer them products they’ll adore, and be innovative.
3. Equipment and human resources
As we’ve mentioned before, once you expand your Toronto-based business to the U.S. your sales can rise considerably. That’s why you’ll definitely need good equipment and modern technology, to stay in the game. However, high-tech equipment means nothing if your staff doesn’t know how to use it. Therefore, for better efficiency and productivity, make sure your employees are adequately trained and educated.
A step-by-step expansion according to the ultimate guide for expanding a Toronto-based business to the U.S
It’s highly important to know what it exactly means to run a business in some foreign country. Every place has its own rules. Thus, if you want to become part of one country’s market, you should get to know how they do things.
Firstly, the US market is huge, and the demands differ from one part of the country to the other. That means it’s not possible to define one particular service or product that will be universal and popular everywhere in the US. Therefore, when you decide to hire Professional Movers Canada to move you to the US, you should pick two or three US states you want to focus on first. Give your best to “win” the market and show your qualities. Then, once you have created a strong basis, you can move on and expand more and further.
The products distribution
Well, it’s not all about making a good product. You should figure out how your product will reach your customers as well. The best thing is to open a small branch office directly in the state where you want to start from. However, if that doesn’t work for you, it wouldn’t hurt to consider at least a local warehouse facility, especially if you decide to start your expansion in one particular US state for the beginning. This way you’ll be able to ship huge amounts of different products at once. And, you’ll always have where to keep them. Plus, this will save you from numerous customs and fees.
You need to be brave to undertake a huge step of widening your company’s scope towards a foreign country. However, with this great ultimate guide for expanding a Toronto-based business to the U.S., everything will be much easier. So, don’t hesitate. Follow your dream and reach the stars.