BabySouk.com is an online store bringing premium products and brands from around the world to the doorstep of parents in the Middle East. Read below how Beehive have helped in its growth and the benefits it brought to the company.
What have you done with the funds you raised on Beehive?
We have exclusively used the funds for additional purchases of inventory for our B2B and B2C business, in order that we can offer a wider range of products to our customers.
How has funding improved the business?
We have placed ourselves in a better allotted in-stock position which provides our retail partners and consumers with a wider range of products, that we can specifically allot to their demand/ordering forecasts, which provides us greater visibility on future purchases from our suppliers, as well as better data to perform top-line revenue forecasting and overall budgeting. In sum, the additional funds have created a heightened level of certainty concerning our business performance.
What other support could your business use, aside from funding?
Additional manpower and recruitment resources in order to find more really good quality team members. Additional equity financing is very difficult to find, which forces greater organic growth behavior within our company.
What are your business plans for the next 12 months?
We are exploring a move into the Saudi or Kuwait markets, with a plug-and-play version of our business model, which is wholly dependent on an equity investment into our company from a local market partner that can also execute on the ground with additional capabilities (HR, logistics, sale functions, merchandising support), in these two markets.
How has the funding with Beehive improved your brand, image or reputation?
Again, having more products over a wider range of availability has augmented our reliability as a supplier to our customers.
Any other comments?
The account management provided by Beehive has been stellar, and it makes working with Beehive significantly easier than working with a local bank. There is a proactive can-do attitude from Beehive that is truly refreshing as a growth partner in our business.