Tapping New Markets For Air Freight Players:How Easy?
The ultimate norm of any business, big or small, is governed by the zeal to expand. Even for the air freight industry players, this holds true. While newer destinations to do business with are emerging every day, here is a three pointer check list to follow before pumping in resources towards a new market.
Viability- Factor 1 here is the ultimate one to consider. While an ops or market entry plan could look great on paper, you will have to check if the receptiveness in the target market will be as high. The biggest mistake will be to expect a boom from day one. For the initial period, be prepared to spend time promoting and prepping your services to see how these click. Never expect much, early on. After all, these waters are totally new for you.
ROI- Plan up the investment volume and scale clearly but make sure that you have a fixed limit somewhere. Keeping this in mind, any business knows that it has to create a strong backbone no matter what-- that means staff expenses are mandatory. Make sure you have a cut-off to break even. However, this is gradual and will happen soon. Fret not, since the air freight industry is not wholesale grocery. It is logistics. Returns are huge but happen steadily!
Competition- Analyse your immediate competitors in the market. The mantra today is to march together instead of considering an entity a negative competition. Try and see if collaborations are possible. Network and participate in the industry meets and events. You just never know what avenues might open up in air freight. Until then, fly high.