Podium Pet Products Won The King's Award for Enterprise in International Trade 2023
Having weathered many a storm including the recession, challenges, covid, the rapid emergence of the online market place, competition and not least being almost permanently under resourced, the directors recognise this award as a particular pat on the back for their existing team.
‘Running one’s own business is never easy and every day there are multiple curve balls but we are absolutely over the moon to have received such an accolade. We have always prided our self on our ability to expand our relationships with customers and partners whilst providing an excellent level of service. We just now need to find time to sit down and properly reflect and celebrate with the team’ Carina Evans – Founder & CEO.
Podium Pet Product’s journey started with 1 distributor and 1 big box retailer in the UK market. ‘It was down to buyers looking for innovation and trusting us to deliver that got us on our way’. The same buyers are still in the industry and the same companies are still some of our largest customers.’ Once their UK business model was established and lessons learned from the UK market, Podium Pet Products dabbled in the EU market but found language barrier an initial problem so instead concentrated their efforts in North America where they have been trading since 2012 and have established a strong network of distributors, big box retailers, mom & pop stores as well as an online presence.
FX Challenges in a global market
The only challenge in the North American market to date has been FX. ‘We deal in the Can$, the US$, the Euro, the £ and the Aus$ so its been give with one hand and take with the other, resulting in neither a significant net loss or gain. Some years have been better than others but overall its levelled. We have never had to hedge or borrow or seek investment, it’s a neat ship.’
Future Growth Strategy
The next phase of growth will be to get the right ‘bums on seats’ so that there are no ‘super profits’ in order to partner with another like-minded company with a slightly more diverse product range and probably more of an online presence and ultimately to sell.