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Syed Irfan StartupTalky Team
Community Manager @ Coder
Asked a question 4 years ago

What factors should an entrepreneur consider when he/she wants to expand globally?

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  1.  Brand Recognition:- Firstly, we should see that the people have a high level of recognition for your brand in the market. People get attracted to the brands which stick out the best for them and which is known to many people.
  2. Geographical Location:- When expanding internationally for the first time, it can sometimes seem easiest to go to the first place where you receive interest from a franchise prospect. On one side, this could be a faster way to get the deal done.
  3. Currency:- If you will be selling in a different currency, you’ll need some knowledge about how to appropriately price your products and services. Converting other currency into USD isn’t free and can easily cut into your profit.
  4. Shipping Requirements:- When you take a business globally, packing requirements can vary from country to country. If you have a market in multiple countries, you need to research the shipping requirements for each

These are the minimum requirements that an entrepreneur consider when he/she wants to expand globally.