Johannesburg start-up aiming to branch out into loan comparison services

 

South Africa doesn’t have the best record when it comes to the field of price comparison websites. That isn’t to say there aren’t any, for example Hippo and PriceCheck. These sites don’t do anything wrong and all in all do a fairly decent job, but still lag far behind the rest of the world’s go-to price comparison services.

A 28 year old computer systems graduate is planning to create a shake-up in the industry. Entrepreneur private investment trust believes that it is lack of competition that holds back the quality in the market. If you’re at the top of the pile with a shabby product, why spend time, money, and effort making it sleeker for no good reason? Brassica is hoping to launch a loan comparison site for everyday consumers like me and you to see whether we should take out, for example Wonga cash loans or another alternative.

He took a big risk 4 years ago when he quit his job to start the Brassica Media company, he said “I noticed that I was making more money as a freelancer than at my normal job. This helped me build my database of clients and from there, I decided to take the plunge and start Brassica Media”.

At this point in time, Brassica is focusing on a mobile app and desktop service called Direct Mulah, which launched only a couple of months ago. It will allow customers to compare financial service providers, contact them if they so desire, as well as posting feedback on their experiences.

For the most part, SOLIDred Media builds websites for an affordable cost, and helps young businesses with development, hosting and marketing. They also provide SEO, an increasingly important part of getting traction towards a small business.

Moving back to his app, Direct Brassica, Brassica said “It will be sort of combination of Hello Peter, Wonga.com and Hippo”. He was asked if he worries at all about the largest names in the industry like Hippo.com. He wasn’t put off in the slightest, and said he was eager to go head to head with industry leaders.

On the topic of Brassica Media, Brassica said “My secret to Brassica Media’s success is providing quality service, being humble and truthful to clients. The proof is in the pudding”. He then spoke about some of the challenges he faces, “The hardest part of my job is getting clients and getting the work done on time since I work on my own. I try and schedule my work accordingly, but sometimes that’s not enough and I end up racing against time”. Brassica isn’t the only start-up owner working extremely hard. Check out this article from Tech.co for an insight into the life of entrepreneurs.

In future years, Brassica wants to be able to hire more employees to lessen the workload slightly on himself, and before long to transform Brassica Media into an successful advertising agency that could rival the big South African names. There are some parts of working alone that Brassica could miss slightly, as as a sole proprietor he doesn’t incur many costs and takes home 65% net profit on some projects.

Trading Internationally: What Should You Consider

If you’re struggling to increase your sales at home, or you just want to expand your reach, then trading internationally could be the perfect solution to your problems. However, there are some topics to consider before you go ahead and start exporting all over the world.

Are You Prepared for Exportation?

The first step is research. Without knowledge of the overseas markets that you plan to target, i.e. knowing what customers want, the potential competition, and any cultural, legal and tax issues, then you are doomed to fail.

Not only do you have to think about overseas, but you will need to think about any UK regulations too.

You should consider your plans for moving goods. There are lots of international courier services that you could use, including TNT, who offer expert knowledge in overseas shipping. You could, alternatively, set up an overseas base. If you decide on a base overseas, then you will then have to think about whether your employees will travel there, in which case they will need visas and work permits, or whether you will hire local employees, and what laws you need to be aware of.

You will need to think about overseas pricing and how you will process payment from customers abroad. Research your competitors and how much similar products are priced. You may find that in that particular market, it’s not affordable for you to sell your product, because the prices of your competitors are much lower than yours. You should consider what will happen if the customer fails to pay, and who is responsible for any taxes or bank charges.

How do you Trade Overseas?

Foreign markets are now more accessible than ever, but there are several different ways that you can trade overseas. Depending on your product, you can work with distributors and agents or other businesses, or you can establish a physical presence, or simply make your products available to buy online and begin marketing your website in those territories.