Biological Prospects Exports Equithrive with KSBDC Assistance
Science, not business, comes naturally to Pat Lawless, founder of Biological Prospects, a high-tech company that produces a line of nutraceutical supplements for the equine industry. Uncertain how to market his novel product on an international scale, Lawless contacted Gordon Garrett, associate director with the KSBDC.
Together Garrett and Lawless reviewed his product offerings and drew up a plan so he could quickly and cost effectively take “Equithrive” to the international equine market. “Basically, Gordon advised me to outsource everything we can. For example, manufacturers know a lot more about manufacturing a product than I do.”
By utilizing the market prowess of five large distributors, Lawless was able to move Equithrive across international boundaries in a fraction of the time it would have taken him to build and train his own sales force.
“I have implemented a similar model with numerous KSBDC clients,” Garrett said. “It takes a lot less money to get these businesses off the ground if we piggyback on the relationships distributors have already formed with retailers.”
For Biological Prospects, that partnership means moving their product to an international market in a matter of months vs. years. Today the company exports products through five major distributors, all with highly-trained sales forces that have established relationships with veterinarians across the globe. To-date, five percent of Lawless’ product is exported to Australia and Canada and Europe.
“The SBDC has been a tremendously valuable resource. I don’t know what I would have done without Gordon’s assistance. He has guided me through every step of this process.”
– Pat Lawless
Biological Prospects has plans for continued growth in the coming years with the release of several new products and a patented way to synthesize nutraceuticals more efficiently and cheaply than ever before.