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    2 Replies Latest reply on May 31, 2010 3:43 AM by alghurair

    Opening an International Market

    tjmouser Newbie

       

      My name is Ted and my (Filipino) wife's name is Judith. We are both established Bank of America clients interested in opening the only international market in Roseburg, Oregon. The location is a large space fully equipped as a market and short-order restaurant, including all fixtures (including POS counter with a display area for items such as candy, commercial kitchen, stock shelves, large back stockroom, coolers and freezers, etc.).

      The building is owned by an older Filipino woman, Fatima, who had leased the store space to a Korean women who neither how to read or write, and was plagued with personal and financial difficulties, forcing her to finally close her business in February 2010. Fatima wants very much to lease the entire market space to us for only $700/month! She is also willing to give (not sell or lease) her wholesale resources to us as well as GIVE (again, not sell) her widely used international shipping service--LBC--to us. Fatima complained that had she not had enough other business interests to over tax her, she would open the store herself. She appears to be in her mid to late 60s, and tiring of being so busy, but her younger, immigrant family knows nothing of retail business and refuses to be a part of it.

      When we first moved here to Roseburg 1 March 2010, my wife and I knew we would eventually want to open a market. Since are arrival, we have made it point to speak to other Asians and Hispanics in the area about opening an international market. The Hispanics in particular, have no significant outlet from which to purchase many of the foods they miss from back home. Asian families are forced to drive 1.5 hours north, to Eugene, Oregon, to shop their grocery and specialized utensil preferences. Hispanics are forced to drive 2 hours south, to Medford, Oregon, to shop for own grocery preferences.

      In speaking with the locals here, to include other business owners (Caucasian, Hispanic and Asian), ALL have stated the same thing: That the international market run by the Korean woman who was forced to close her doors last February due to personal issues was very much depended upon--in high demand--by the entire community, and the closing of the market has had and significant negative impact upon the community at large.

      Bottom line: Though my wife did have her own dried fish brokerage in Mindanao, Philippines for over ten years, we both know NOTHING about what to do to open (or reopen) this international market. Where do we start? How to we write a business plan? How do we raise the capital to finance this venture?

      This is an opportunity with a high likelihood of succeeding, but we have no clue where or how to start. Help, please???
        • Re: Opening an International Market
          Tracker

          Ted:

          Congratulations to you and your wife on the pursuit of your new business. I have a couple of options for you that will help.

           


          Through The Solopreneur's Guide, I provide instructions to help people launch and grow a business. I have a Planning page that I think you will find helpful. Here's a link to the page:

           


          http://thesologuide.com/successful-steps/planning/

           


          I have another site, Small Biz Break, with a partner, helping people simplify the process of starting a new business. The address to the site is below. If you sign in, you will have access to a number of forms to help you focus on the steps to starting a new business.

           


          Additionally, my partner and I provide consulting services. If you prefer to receive help over the phone or Skype instead of reading materials and figuring it out on your own, we can help. In addition to helping other people launch their business, we've started a couple of our own, so we understand what you are going through.

           


          Regarding financing, I recommend you seek out a community member here that goes by the nickname "phanio". He is excellent.

           


          Hope this helps for a start. If you have any questions, feel free to contact me.

           


          All the Best,

           


          Doug Dolan

           

          The Solopreneur's Guide (http://thesologuide.com)

           

          Small Biz Break (http://smallbizbreak.com)
          • Re: Opening an International Market
            alghurair Newbie

            If you need any fund to support your business i am always here to help you . kind contact me thru my personal email : alghurair@dr.com