Success Story: Missouri
BeWell Health, maker of Dr. Hana’s Nasopure Nasal Wash, wanted to expand export sales and add to its international distributor network. So Missouri SBTDC international trade specialists Sandra Marin, Jackie Rasmussen and others helped develop a comprehensive export plan, provided guidelines for distributor agreements, offered advice on export documentation requirements, and made referrals to experts in intellectual property protection and payment.
In December, 2016, the SBTDC’s International Trade Center (ITC) director Larry Dill and international trade specialists Aldis Jakubovskis, Rasmussen, Luis Ortiz and Pablo Arroyo and three Missouri University international business student interns completed additional market research for Nasopure.
The interns and staff reviewed global trade data and economic and industry indicators to identify five promising markets in Asia, North America, Africa and Europe. This dedicated team then researched each country’s business environment, industry trends and regulatory requirements. They also provided the firm with lists of potential customers and distributors in each country.
As a direct result, from 2015-16 the firm experienced:
• Overall sales increase of 40 percent
• Export sales increase of 55 percent
• Increase in employment of 30 percent
Says company president Marcus Solomon: “I appreciate all you and your department (the ITC) have done for us and have no doubt it has had a significant impact! The final research report provided me with very useful information about the target countries I had interest in. The spreadsheets provided a wealth of valuable data that I can use to identify and validate future markets of interest, too. I was also provided with information on the different registration requirements of each market, which will be very helpful. Thank you!”
Solomon adds that BeWell Health is now strategizing how to enter at least two of these new markets.
The ITC is a central resource for quality global trade research, analysis, education and training. The ITC can help Missouri businesses:
• Develop and plan a viable export strategy
• Research potential markets and assess opportunities
• Research data to make informed and timely market entry or expansion decisions
• Connect to additional resources and expertise in finance, shipping, documentation and compliance
• Further educate firms’ principals on international trade
In the past two years, the ITC has completed 29 global market research projects for 20 companies using 91 interns and six skilled Missouri SBTDC international trade counselors. In total, student interns and counselors have logged about 11,000 hours on these projects — 120 hours for each student intern.
To learn more about BeWell Health and Dr. Hana’s Nasopure Nasal Wash, visit nasopure.com. To learn more about the Missouri SBTDC and ITC, visit missouribusiness.net and missouribusiness.net/international-trade-services.