Through rigorous research and quality testing, UK-based Bull Doza aims to make high-quality martial arts equipment that’s available worldwide. They’re transforming the traditional martial arts business by combining a reasonable price point, accessibility and durability into one package.
First round: Meet Bull Doza Fight Wear
Founder and director Nathaniel Doza was a martial artist for over a decade. His extensive competitive experience in the industry put him on a quest to find a truly exceptional punching bag at a reasonable price. Recognising this gap in the market and feeling the pain firsthand as a martial arts fighter, he was driven to address this issue.
Bull Doza Fight Wear exclusively sells their products online, ensuring no middlemen and passing on the savings directly to their customers. Their ambition is to be recognized as the world's best punching bag.
Second round: The business banking barriers slowing down global expansion
As Bull Doza Fight Wear gained traction in the UK, demand from various regions, including the EU and USA, grew. Customers began searching for their products on local marketplaces such as Amazon, fuelling Nathaniel’s vision for international growth. However, barriers to entry in overseas marketplaces presented significant challenges. Here he breaks down his challenges into a couple of key themes.
As Nathaniel expanded in Europe and the US, his attempts to open a US Amazon account using two different UK-based high street and neo banking providers, were unsuccessful. The providers couldn't offer local banking numbers, a prerequisite for selling on Amazon in America and Europe.
Trust and security concerns
As a startup, the complexities of international banking systems created insecurity over how to handle large amounts of foreign currency and how to make cross-border money transfers. This made the idea of global expansion daunting.
These challenges posed a significant setback for Bull Doza Fight Wear. Difficulty breaking into the US market meant missed opportunities and untapped revenue streams. Plus, the time and resources devoted to sorting out these banking hurdles took attention away from core business activities, slowing the overall pace of growth.
Open a World Account for free
- Open up to 10 local currency accounts, with local sort codes, account numbers and IBANs
- Collect secure payments from 100+ marketplaces, overseas buyers and payment processing gateways
- Pay suppliers, partners and staff in 40 currencies without hidden fees
- Pay and get paid easily with local bank details on your invoices
- Lock in conversion rates to manage your currency risk
Third round: Making overseas growth simple
Bull Doza Fight Wear discovered the perfect ally for their international expansion in WorldFirst. With local currency accounts, a dedicated support team and an intuitive platform, WorldFirst simplified many of the financial intricacies Nathaniel had previously found. This allowed him to focus on his true passion: crafting exceptional martial arts gear.
Key features that Nathaniel found most beneficial:
User-friendly hedging: The WorldFirst platform makes it straightforward to handle large currency transactions and provides exceptional transparency in exchange rates, eliminating hidden costs.
Access to online marketplaces: Nathaniel can print out a local account statement in seconds to use as proof when it comes to setting up a presence on local marketplaces in other countries. WorldFirst has also partnered with over 100 marketplaces worldwide, making it easier to transfer overseas money home.
Streamlined accounting with Xero: WorldFirst's integration with Xero provides Nathaniel and his accountant with a clear view of Bull Doza Fight Wear's financial health for better decision-making.
With WorldFirst’s support in entering new markets, Bull Doza Fight Wear has seen some pretty impressive results.
3-month reduction in market launch times: Bull Doza Fight Wear expedited their entry into new international markets, saving three to six months on average.
Savings on international transactions: With an average saving of 1-3% on every $10,000+ sized transfer compared to traditional banks, they significantly reduced their operational costs.
Projected tenfold revenue growth: With WorldFirst's help in entering new global markets, Bull Doza Fight Wear feels confident about exploring opportunities overseas. They’re aiming for a tenfold increase in sales over the next couple of years.
With a mission to produce the world's best punching bag, Bull Doza Fight Wear is aiming high. Partnering with WorldFirst has enabled them to not only dream big, but to turn those dreams into reality by simplifying the complexities of international trade.
To find out more about WorldFirst products and services, click here or call 0207 801 1065 now.
Businesses like yours trust WorldFirst
- Almost 1,000,000 businesses have sent $150B around the world with WorldFirst and its partner brands since 2004
- Your money is safeguarded with leading financial institutions