Students help garden product wholesaler in expanding to foreign markets
How can a Danish company enter the Finnish and Dutch markets? What is the competition like, and how can social media help expand awareness of the products?
These are some of the questions that has been answered through collaborations between the company Fausol and students from Roskilde University.
"We have received some excellent analyses, and I see great value in it," says Fausol's CEO, Kim Faurbjerg.
Over the past years, Fausol has engaged in two collaborations with students and is currently involved in a third project.
Fausol trades with plant nurseries, hardware stores, supermarkets, and similar retailers, supplying everything garden enthusiasts desire, from seeds to ant bait, soil, fertilizer, and tools. While headquartered in Region Sjælland, the company is active in Denmark, Norway, Sweden, and Finland, with considerations for entering the Dutch market.
The company, initially founded by Kim Faurbjerg's parents as an entrepreneurial venture, maintains its enterprising spirit.
"We are looking into how we can potentially acquire a new company or develop a new country. We usually say that something new should happen every year. So, the entrepreneurial spirit is still there," asserts Kim Faurbjerg.
This is where collaborations with students from Roskilde University come into play. The first collaboration focused on export to Holland, while the second dealt with the company's webshop in Sweden.
"Currently, it's about penetrating the Finnish and Norwegian markets with fresh perspectives. How can we do it differently than we do today? We feel it's not progressing fast enough, so we might find other sales strategies or channels," explains the CEO.
Through the collaboration with students, he gained insights into consumer behavior, price levels, and how marketing influences consumers.
"We have analysed various aspects such as marketing, demographic factors, and competition, giving us a market analysis to help us expand these markets, which we aim to make larger," says Kim Faurbjerg.
Positively surprised by quality
Kim Faurbjerg experiences that he and Fausol have gained a lot from collaborating with students from Roskilde University.
"The students have had good time to refine their analyses and make them even better than if we had hired a consulting firm. I have been pleasantly surprised by the quality. The students have conducted their analyses based on a profound dataset, investigating everything from demographics to information about competitors and prices," he says, adding:
"Often, daily routines take over, and one can forget to take a moment to delve into the details, but when you do, you gain new data and considerations. It's a combination of confirming some assumptions you've had and can build upon, and at other times, you get ideas about what else can be done regarding, for example, marketing or sales channels, or what needs to be done to win the favor of the consumers. It's a blend of endorsing your own sensible ideas and new inputs," explains Kim Faurbjerg.
About Fausol
Fausol is a wholesaler dealing in fertilizers, flower and vegetable seeds, soil, grass seeds, tools, and other accessories.
The company primarily trades with plant nurseries, hardware stores, supermarkets, and similar retailers catering to gardening enthusiasts.
Fausol is a Danish family-owned company, founded in 1969. The company initially had bases in Roskilde and Tune but now has its headquarters in Bjæverskov.
The company employs 40 individuals.
In addition to Denmark, Fausol operates in the markets of Norway, Sweden, and Finland and is in the process of expanding to Holland.
Source: fausol.com
One area where Fausol has gained valuable knowledge from the student collaboration is social media marketing.
"There are indeed many platforms, and it can be challenging to know what is the right one. Should we use Facebook, TikTok, or Instagram? Or should we prefer traditional media? Sometimes, you risk shooting in the dark, but now we have gained more substance in that area. And we have actually expanded quite a bit on social media," he explains.
Significant potential for employee recruitment
Kim Faurbjerg is interested in more collaborations with students in the future, as it benefits both the company and the students.
At the same time, he sees opportunities for future employee recruitment, as the company and students have learned about each other through the collaborations. Fausol learns from working with young individuals, and the students gain insight into the job market they are being trained for.
"I definitely see potential for recruitment. We want to hire younger people, and this way, we get a sense of what it takes to hire them. We are always interested in hearing from young people who might be interested in working with us," says Kim Faurbjerg.
Project collaboration between companies and students
Collaborative projects between companies and students commence twice a year – in February and September.
The collaboration spans four to five months, concluding at the end of the semester in June and December, respectively.
Typically, groups consist of 2-5 students, and each student invests between 200 and 400 hours in the project.
The company individually agrees with the students on the resources allocated to the collaboration. This typically ranges from 30 to 40 hours throughout the entire project duration.
The deadline for registration for project collaboration with students is 10 January and 10 August.
Interested companies can reach out to Mogens Riber, Business Relationship Manager, Roskilde University, via email: mogensr@ruc.dk or phone: +45 2563 7080.