E-Liq Cube is a California based and family owned company providing liquid juice flavors for e-cigarettes. The company has years of experience in manufacturing e-liquid juices and has now expanded its business to Germany. The company has 30+ employees and an annual turnover reaching 7 figures. The company started in the German market with a flagship store on the famous Leopoldstraße in Munich.
The challenges to consider in deciding on setting up a company in Germany for E-Liq Cube Inc. included local regulations, reporting and audit, the German business culture as well as the maintenance of the operating business.
Before starting the process of entering the German market, E-Liq Cube needed to understand the legalities and regulations of their industry in Germany. Also Import/Export regulations had to be observed and assessed in advance. Providing goods from their existing business base to a new market turned out to be a major challenge in the market entry process.
Furthermore, E-Liq Cube required a local presence in the form of a retail store in Munich, one of the toughest and most prestigious real estate markets in Europe. Due to currency exchange rates, the company was keen to complete the project quickly and compliantly in order to obtain a measurable return in the shortest possible time period. To accomplish this target, the company had to carry out market research, advertising and marketing campaigns for their products and publicize the company name in the new German market.
Meanwhile, the development of business relationships and the appointment of traders nationwide was one of the major responsibilities the company had to face while setting up the store in Munich.
Once the store was established, E-Liq Cube Inc. sent people to Germany to manage the store in Munich and to support and train the local staff.
Consultinghouse assisted E-Liq Cube Inc. in setting up their German subsidiary and established the company's retail store in Munich. Consultinghouse delivered all the services required from preparation up to finalization from one source and managed all local regulations and requirements in Germany to ensure that the client stayed compliant with German law. Due to their detailed knowledge of the financial authorities and their years of experience, Consultinghouse avoided any pitfalls for the US Company during the incorporation process.
Once the new incorporated company was fully registered and had started its operational business, Consultinghouse provided E-Liq Cube GmbH with ongoing maintenance services which are not only essential in the day?to-day business but also required by the German authorities. As both E-Liq and Consultinghouse are family-owned businesses, Consultinghouse understood the requirements and challenges the company had to face and therefore provided customized and efficient services for E-Liq Cube in Germany. Along with that, our legal partner Counselhouse managed the immigration of foreign experts to Germany to work in the store in Munich.
"The Consultinghouse Team provided the market entry and business set up for us as well as a close guidance throughout our business development in Germany. E-Liq Cube GmbH was successfully established in February 2014 and has made measurable returns since then." [Alan Pastor, Managing Director, E-Liq Cube GmbH]
The provision of on-going services helps the company to remain compliant with German statutory law at all times. Due to the strong and personal guidance, E-Liq Cube was able to start its operational business quickly and gained revenues after a short time period. Thus the company was able to continuously develop its retail business and expand in the German market.
Due to the fact that Consultinghouse is managing the ongoing maintenance services, E-Liq Cube is able to fully concentrate on its core business and need not worry about deadlines or filing procedures and is now in a position to complete various projects, enhance its reputation and gain market share in one of the strongest markets in the world.
E-Liq Cube recently took part in a trade show with over 10.000 visitors in Frankfurt and further cemented its reputation in the German Market. Consultinghouse managed the whole set up and organization for the trade show from Germany for E-Liq Cube and supported the company in all business matters including reclaiming the taxes paid for the exhibition.
"All in all, the incorporation process run amazingly smoothly. Due to the excessive amounts of bureaucracy in Germany we had prepared ourselves for all sorts of difficulties, but none of them occurred. This is mainly due to the experience and the all-around service of Consultinghouse and their exemplary operational readiness." [Alan Pastor, Managing Director, E-Liq Cube GmbH]