Season 3 Episode 3
Focus Brands https://www.focusbrands.com/
Connect with Kevin Moran https://www.linkedin.com/in/kevin-moran-1499129/
Connect with Tony Moore https://www.linkedin.com/in/differentbetterspecialbrands/ and if you are hiring in 2023 - ATTRACT people to your brand by allowing them to "sample" your culture, mission, and purpose (DEMO)
Kevin Moran, Vice President of Strategy Development and Analysis, shares where brands are expanding internationally, w...
Season 3 Episode 3
Focus Brands https://www.focusbrands.com/
Connect with Kevin Moran https://www.linkedin.com/in/kevin-moran-1499129/
Connect with Tony Moore https://www.linkedin.com/in/differentbetterspecialbrands/ and if you are hiring in 2023 - ATTRACT people to your brand by allowing them to "sample" your culture, mission, and purpose (DEMO)
Kevin Moran, Vice President of Strategy Development and Analysis, shares where brands are expanding internationally, why the international market is hot, and what strategies to take. I have added more information in the show notes.
“How to expand a brand internationally”
Are you selling or developing? What is your purpose?
Grow locally to build brand recognition. The key to successful brand marketing is tapping into existing loyal customers.
Understand the propensity of the country to take your product. In other words, know your market. Beef products are not going to succeed in India because the cow is a sacred animal.
Seek differentiators i.e., what will make your brand stand out among other similar brands in the market.
Determine where and how you are going to source products. Must also consider volumes and cost.
Tariffs
Importation taxes
Transportation of goods
Storage
Evaluate purchasing power based on COGs and competitive menu pricing
Menu flexibility – core vs. country. How much does the menu change based on local flavor preferences?
How big or small can your footprint be to allow for equipment and prep space?
Real-estate costs
Lease terms
Traffic patterns (accessibility or customer count required to break even or grow)
Understand the labor market and your current labor model.
Create mock P&Ls to determine if the model is feasible.
Consider franchising with an established international franchisor because they have already done this work and have the support in space to ensure a successful market launch.
Legal costs associated with compliance, trademarks, disclosures, etc. Each country has different rules.
Don’t let your emotions override the math. Your personal passion for a brand does not indicate its success. TEST, TEST, and TEST again. Collect the data necessary to make an informed decision.
Don’t think that you’ll “figure it out later.”
AWESOME video on differentiation - https://vimeo.com/644948109/6b3d99c76c
About me and my mission and podcast:
Are you looking for a fun and light-hearted podcast to discover unique brands and learn about the people and strategies successful companies are implementing in the CPG and Food and Beverage Industry? The brands featured here take us into the world of innovation, sustainability, good for you, lifestyle, QSR, Foodservice, Distribution, DTC, Club, and more.
I am a fun-loving business leader, podcaster, husband, dad, cyclist, and Convention of States volunteer in my spare time. My mission is to discover the people and ideas behind these different, better, and special companies. My skills are in leadership, talent acquisition strategies, corporate hiring, sales, entrepreneurship, and backseat driving. I created a novel 6-week candidate attraction program talent acquisition that engages the 70% of the workforce not actively applying for jobs. See the DEMO. Say goodbye to traditional!
Contact me: Tony@timpl.com
Follow me on LinkedIn: https://www.linkedin.com/in/differentbetterspecialbrands/
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