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Copying business ideas/models from other countries

Discussion in 'Ideas, Needs, Concept Feedback' started by Megaman9, Nov 10, 2018.

  1. Megaman9
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    Megaman9 New Contributor

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    What do you think about copying successful business ideas/models/startups from other places in the world and bringing them to your own country ?
    One example that came to my mind is Toygaroo, a toy rental program the launched a few years ago in the US. Yes, I know they failed, but that's just an example. Is there any reason why I could not try and replicate it in my country ? (I am not from the US)

    Seems like an easy way to find interesting business opportunities.
     
    ZF Lee likes this.
  2. Sebastya
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    Sebastya Bronze Contributor

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    There are companies that do this and are successful - having said that, not every business model translates well into other countries, even successful franchises.
     
  3. Xavier X
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    Xavier X Silver Contributor Speedway Pass

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    There's nothing wrong with implementing an existing business model in a different market, provided it's not a replica. For instance, following the success of Uber, many ride hailing startups have popped up in different parts of the world. They're using the same business model, but create their own identity and execute in their own way.

    It's not the shortcut to riches you might imagine it is, but is certainly a way to get into a business with a proven business model. Whether or not it will be equally feasible in the transplant society will require due diligence.
     
    ZF Lee likes this.

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