Deciding if your product is ready for export

Last updated: 13 March 2017

Even if your business is doing well in the UK, you may need to adapt your existing product or service for overseas customers. You might want to:

  • make it fit with foreign customers' cultural or business expectations
  • lower profit margins affected by exchange rates
  • make sure it competes in those markets

There are important factors to consider when deciding if your product is export-ready. You may have answered these questions for your UK market, but you need to ask them again from a foreign market perspective.

Questions to ask

  • does your product or service solve a customer's problem?
  • are there other solutions on the market which solve that problem?
  • are there gaps in the market you could fill?
  • what's unique about your offering?
  • is there enough demand for your product in your chosen country?
  • do you need to adapt your product to make it more marketable?
  • are customers willing to pay for your solution?
  • should you offer a limited period trial offer?
  • could you offer a cheaper scaled-down model of your premium version and still make a profit?
  • could you create a prototype version to offer for free and ask customers for feedback?
  • if it's a new product, do you need investment to kick-start development?
  • is your product individual enough to attract investors?
  • what does the competition look like in your chosen country?
  • have your competitors been successful in that market? What could you do differently?
  • do you already have brand recognition in your chosen country?

You may need to adapt your product or get expert business advice before you make changes.