Exporting Collectible Coin Souvenirs to Australia

A Hot Tip about Gifts, Games and Toys in Australia

Posted on: 12 Jul 2010

Setting up a coin export business for commemorative sports coins for Australian import customers.

WorldsRichestCountries.com IMPORT / EXPORT PROCEDURES Setting Up A Coin Export Business Exporting Canadian Collectible Souvenir Coins to Australia for the Vancouver 2010 Winter Olympics Collectible Souvenir Coins fall under Tariff Classification number: 9705.00.00 (8-digit codes for exports) Daniel Workman International Trade Feature Writer FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins Executive Summary Expor t i ng uncirculated souvenir quarters for Vancouver 2010 Winter Ol ympi c Games to A ust r al i a is a virtually risk-free way to profit from a product uniquely made in Canada. Canad ian l egal currency cannot be reproduced in any other country. Star t i ng i n 2007, the Royal Canadian Mint will st r i k e up to 22 million 25-cent coi ns for each of a dozen Winter Olympic sporting ev en t s including bobsled, curling, hockey, skating and skiing. Any unsold inventory will ret ai n its v al ue af t er t he Ol ymp i cs si nce legal circulation coi ns rarely dep r eci at e or go obsolete. Rather, coins often appreciate in v al ue ov er t i me as collector items. The Canad ian expor ter i s abl e to buy 40-coi n r ol l s of Vancouver 2010 souveni r quar ter s at cost ( i .e. f or 25 cen t s per quarter) f r om Royal Bank branches and sel ect Pet r o-Canada locations. A s show n i n Appendix A, the total per-unit cost of selling distinctive 3-coi n set s t o A ust r al i a will be C$2.52 per shi pment including postage. To hedge agai nst cu r r ency r i sk s, a d eci si on w as made to r equ i r e U.S. dollars for payment . Charging U$4.99 per coi n set , t he Canad i an expor t er expects to ear n at l east C$2.50 per sal e. Bel ow ar e p r oject ed profits based on samp l e sal es v ol umes. Number of 3-Coin Sets Sold Projected Profit 10 C$25 100 C$250 1,000 C$2,500 The number of Olympic coin sets sol d depend s on the Canadian entrepreneur? s success in mar k et ing the coins to Australian consumers via the Internet. The Canad ian expor ter has competitive advantages in writing online articles using Search Engine Optimized (SEO) keywords. The en t r ep r eneu r ow ns a w ebsi t e (WorldsRichestCountries.com) w i th automated PayPal functionality, as well as two commercial blogging portals that cur r ent l y generate over 200,000 page v i ew s monthl y . Subsect i on 10 a) M ar ket Entry Issues and Appendix C present other ways to at t r act onl i ne A ust r al i an p r ospect s. A s a coun t r y , A ust r al i a i s a st r ong cand idate for expor t sal es of Vancouver 2010 souv en i r coi ns. Canada and A ust r al i a have st r ong and posi t i v e t r ade r el at i ons, shar ing a similar heritage, English common-l aw l egal sy st ems, culture and values. A ust r al i ans are increasingly interested in Winter Olympic competitions, and wil l be i ncen t ed t o buy souvenir coins online after winning 3 gold medals at the last 2 Olympics. After a thorough analysis, the Canadian exporter has decided to proceed with the Vancouver 2010 Winter Ol ympi cs coi n project . If successful, the Canadian exporter will target ot her mar k et s from ov er 80 count r i es participating in the 2010 Vancouv er Games. FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins Contents Execu t i v e Summar y 1. Introduction a) Ov er v i ew ......................................................................................................................... 1 b) Coin Exporting Strategy ............................................................................................... 1 2. Product Analysis a) Ov er v i ew ......................................................................................................................... 2 b) Why Product was Chosen ............................................................................................ 2 3. M arket A nal ysi s a) Ov er v i ew ......................................................................................................................... 3 b) Why Export Market w as Chosen ................................................................................ 3 4. Economic, Financial and M ar k et i ng Reasons for Project a) Ov er v i ew ......................................................................................................................... 4 b) Economi c Reasons ......................................................................................................... 4 c) Fi nanci al Reasons ........................................................................................................... 4 d) M ar k et i ng Reasons ........................................................................................................ 4 5. L ogi st i cs, Cust oms and Tr anspor t at i on I ssues a) Ov er v i ew ......................................................................................................................... 5 b) Logistics I ssues ............................................................................................................... 5 c) Cust oms I ssues ............................................................................................................... 5 d) Transpor tat i on I ssues ................................................................................................... 6 6. Pr oduct Regulations a) Ov er v i ew ......................................................................................................................... 7 b) Gov er nment Regulations .............................................................................................. 7 c) Non-Gov er nment Regulations ..................................................................................... 7 7. Country Risks a) Ov er v i ew ......................................................................................................................... 8 b) Political Ri sk s ................................................................................................................. 8 c) Economic Ri sk s ............................................................................................................... 8 d) Legal Ri sk s ...................................................................................................................... 8 8. Product A dvantages A nd D i sadvantages ....................................................................... 9 a) Ov er v i ew ......................................................................................................................... 9 b) A dvantages ..................................................................................................................... 9 c) D i sadvantages ................................................................................................................ 9 9. Competition Issues .......................................................................................................... 10 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 10. M ar k et En t r y I ssues and Gr ay M ar k et Concer ns a) M ar k et Ent r y I ssues ..................................................................................................... 11 b) Gray M arket Concerns ................................................................................................ 11 11. Foreign Exchange Concerns ............................................................................................ 12 12. Tr ade A gr eement s Betw een Canada and A ust r al i a ..................................................... 13 13. Intellectual Property Right Concer ns ............................................................................. 14 14. I nternat i onal Law Concerns ............................................................................................ 16 15. Gov er nment of Canada Promotional A ssi st ance ........................................................ 17 Appendices A ? Unit Pr i ce Cal cu l at i on for Expor ted Vancouver 2010 Ol ympi cs Coins .................. 18 B ? Funny Facts about A ust r al i a at Ol ympi c Winter Games ........................................... 19 C ? Additional E-commer ce M ar k et i ng Promotions ........................................................ 20 D ? Sample Filled-in B13A Form ......................................................................................... 21 E ? A dd i t i onal Ref er ence Sou r ces ........................................................................................ 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 1. Introduction a) Overv i ew . The purpose of this feasibility study is to analyze and evaluate both benef i t s and r i sk s of exporting col l ect i bl e Canad ian coi ns for sale in t he A ust r al i an market . This project w ill sharply focus on enticing Australians to buy Canad ian 25-cent pieces that cel ebrate the Vancouver 2010 Olympic W i n t er Games from February 12 to 28, 2010. The t abl e bel ow show cases the first 3 Vancouver Ol ympi cs quar t er s that the Royal Canad ian M int made avai l abl e i n 2007. 25-Cent Biathlon Coin 25-Cent Alpine Skiing Coin 25-Cent Curling Coin Source: vancouver2010.com b) Coin Exporting Strategy The strategic approach for this p r oject i s to adapt to changing ci r cumstances by applying the SWOT (strengths, weaknesses, opportunities and threats) formula. The Canad i an expor t er w i l l r u t h l essl y seek compet i t i v e ad v ant ages based on busi ness st r engt hs and use h i s busi ness acumen t o exp loit opportunities in the Australian market. For examp l e, the Canadian exporter can distribute locally using his relatives in Australia or set up a post office box in Sydney. The SWOT approach is also counterbalanced by a humble and honest recognition of the Canad i an expor t er ? s w eak nesses and compet i t i v e t h r eat s i n t he A ust r al i an busi ness environment. Wher e possi bl e, w or k t hat i nv ol v es t hose w eaknesses w i l l be con t r act ed ou t . Similarly, business threats will be mitigated through prudent risk management. The Canad ian expor t er d oes busi ness u nder t he name ? WorldsRi chestCountries.com? , a personally ow ned and managed w ebsi t e add r ess t hat at t r acts sear ch engi ne k eyw or d r equest s f r om around the globe. Success in the Australian market will enable World?s Richest Countries to expand operations into other foreign countries, including more populous nations. Page 1 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 2. Product Analysis a) Overv i ew . A ccord i ng to Canad ian Coin N ew s, the Royal Canadian Mint announced a ser i es of 12 new 25-cent coins to honor each of the 12 Winter Olympic events in 2007. Th i s y ear , t he RCM r el eased t he speed sk at i ng quar t er on M ar ch 12 and t he bobsl ed quar t er on June 23, 2009. The RCM will launch 3 more 25-cent p i eces i n 2010 honor i ng ot her W i n ter Olympic events. Each coin will have a circulation of up to 22 million p i eces. b) Why Product was Chosen. Vancouver 2010 sponsors Royal Bank of Canada (RBC) and Pet r o-Canada sel l unci r cu l ated 40-coin rolls at all RBC branches and participating Petro- Canada stat i ons. By simply visiting an RBC branch, the Canadian exporter can buy these collectible coins at cost (i .e., 40 coi ns for $10). Th i s expor t p r oject i nv ol v es virtually no risk. That ? s because t hese col l ect or -i t em quar t er s are a 100% liquid investment. A s l egal Canad ian cur rency , t he coi ns enabl e t he expor t er t o recoup his principal capital expenditure at or above par val ue at any t ime. Ot her r easons to export Vancouver 2010 Ol ymp i c W i n t er Games coi ns: ? Coin collecting is a hobby that people of ages ar ound t he gl obe can en joy ? Low-cost coins offer cross-selling opportunities for higher-v al ue expor t s ? W i n t er Ol ymp i c Game f ans r ep r esen t a v ast global aud i ence of consumer s i n t er est ed in receiving valuable coin souvenirs for comparatively low prices ? It is expected that demand for Vancouver 2010 souvenir coins will show significant growth leading up to t he Winter Olympics Games st ar t nex t Febr uar y ? Potential for healthy profit margins will endu r e l ong af t er cl osi ng cer emon i es. Even during an economic downturn, i nexpensi v e coi n mement os cel ebr at i ng the 2010 Winter Olympics ar e ? f eel -good? items that will attract spor t s en t husi ast s. Canadian exports of collectible coins r ep r esen t opportunities to tap pent -up demand, especi al l y w hen one consi der s t he boom in U .S. coi n expor t s ov er t he past 5 y ear s. Canad ian total global sh i pment s of all collector?s items under international Harmonized System code 970500 w ere C$20.1 mi l l i on i n 2008. That Statisti cs Canada amount r ev eal s a: ? 20.6% drop f r om the $25.3 mi l l i on i n sal es d u r i ng 2004 ? 37.9% drop f r om the $32.3 mi l l i on i n sal es d u r i ng 2007. Ov er t hat same t i me span, A mer i can expor t er s gr ew t he v al ue of their total international sh i pment s for numismatic coins alone to U$321.1 million. Censu s Bu r eau statistics show a: ? 493.3% gain from the $54.1 million in sales during 2004 ? 31.2% gai n f r om the $244.8 mi l l i on i n sal es dur i ng 2007. Page 2 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 3. Market Analysis a) Overv i ew . Pow ered by i t s 2008 Gross Domest i c Product (GDP) val ued at US$1.011 trillion, Australia is the world?s 14th richest country accord i ng t o t he CIA World Factbook. With a population of 21.3 million, A ust r al i a had an av er age GDP per cap i ta of $38,100 in 2008, making the Land Down Under the 26th w eal thiest nation as measu r ed per per son . b) Why Expor t M ark et w as Chosen . Australians are p r ov en consumer s of impor t ed collectible items including coins. I n 2008, Canada expor ted C$150.6 mi l l i on w or th of collectible goods to A ust r al i a under tariff item code 9705.00. Th i s Stat i st i cs Canada amount r ev eal s a: ? 39.8% gai n f r om $107.7 mi l l i on i n 2006 ? 19.3% gai n f r om $126.2 mi l l i on in 2007. The above percentages increases in Canadian collectible sales to Australia ar e encou r agi ng when one considers the ov er al l d ecl i ne in Canadian collector i t em exports to the world. In 2008, the value of Canadian collectible shipments fell to $19.9 bi l l i on. Th i s w as a: ? 3.5% l oss f r om $20.6 bi l l i on i n 2006 ? 38.1% l oss f r om $32.2 bi l l i on i n 2007. Still, growth opportunities for Canadian collectible coi n sal es t o A ust r al i a r emai n largely unfulfilled. Last year ? s C$150.6 mi l l i on i n numismatic coins sen t to A ust r al i a r ep r esen t s 0.75% of Canada?s $20.6 billion in global shi pments under tar i f f code 9705.00. Let ? s benchmark U.S. coin exports to Australia. Collectible coins topped A mer i ca? s list of f ast est -growing export to Australia i n 2008, up an annual 1,954% to U$29 mi l l i on. Coin exports to Australia amounted to 9% of U.S. coin shipments to all countries. Canad ian exporters should be able to exploit the same Australian distribution channels as America. Ot her r easons to target the Australian market include the following: ? A ust r al i a shar es t he same language as Canada, facilitating t r ade communi cat i ons. ? A s a member of the Commonw eal th, A ust r al i a has a sim i l ar hi stor y and cu l tu re. ? A ust r al i a and Canada have st r ong t r ade r el at i ons (just one WTO dispute si nce 1995). ? A ust r al i a has w el l -developed infrastructure to support international trade. ? Australia?s top trade partner is China, an emer gi ng econom i c super pow er . ? Australia diversifi es Canad ian expor t cust omer s, 78% of whom are now A mer i can. ? A net expor t er to A ust r al i a by C$500 million, Canada can al so build two-w ay t r ade. ? Canad ian expor ter l i v es near A ust r al i an Trade Commissi oner (175 Bl oor St E, #314) In a nutshell, Australia is an over l ooked market that at t r acted just $2.15 bi l l ion worth of Canad ian expor ts i n 2008. That ? s ju st 0.44% of $483.6 billion i n total Canad ian expor ts. Page 3 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 4. Economic, Financial and Marketing Reasons for Project a) Overv i ew . The economic, financial and marketing r easons d r i v i ng the Canad ian expor t er ? s d eci si on to target A ust r al i an coi n buyer s are like vital sign monitors in a hospital oper at i ng r oom . These factors al so p r ed i ct whether the Canadian exporter will survive by gener at i ng adequate sal es, con t r ol l i ng expenses and post i ng satisfactory profits. b) Economic Reasons. The economic indicators in the following t abl e speak t o sound economies in both Canada and A ust r al i a. A net importer, Australia?s lower unemp l oyment r at e implies adequat e discretionary i ncome needed to consume imported Canad ian coi ns. Economic Factor Australia Canada Bank rate 3% (Reserve Bank of Australia) 0.25% (Bank of Canada) Foreign direct investment U$331.1 billion U$586.6 billion Gross Domestic Product (GDP) U$1.011 trillion (up 11.1%) U$1.511 trillion (up 5.2%) th st GDP per capita U$38,100 (26 best in world) U$39,300 (21 best in world) Official reserves account U$25.75 billion (Dec 31 2008) U$41.08 billion (2007 est.) Sources: CIA World Factbook, World?s Richest Countries c) Fi nanci al Reasons. Vancouver 2010 coins have low unit costs and t her ef or e r equ i r e littl e capital investment. Australian consumers who buy the exported Canadian coins must pay in advance, which eliminates t he r i sk that i mpor t er s will not pay. Also mitigated is the need for sophisticated financing options such as discounting (factoring and forfeiting) and: ? Government financing ? L et t er s of cr ed i t ? Letters of guarantee ? Open accounts ? Pr i vate l oans. However, one of the above financing opt i ons may be r equ i r ed i f sal es v ol umes sp i k e. d) M ark et i ng Reasons. About 80% of A ust r al i ans are Internet users, although Australia lags with only 25% in high-speed broadband. The Canad i an expor t er writes International Tr ade articles that garner 200,000 monthly page v i ew s, and manages t he World? s Ri chest Coun t r i es e-commer ce si t e. Bot h i n t er net v enues can be cu st om i zed w i t h sear ch-engi ne keywords that en t i ce Australian web surfers to buy W i n t er Olympic coin souvenirs. Ot her cr eat i v e examp l es of low-cost i nternet market i ng to at t r act A ust r al i an buy er s are: Google ad campaigns, YouTube v i deos, FaceBook and L i nk -In social networking post s. For e-commerce marketing promotion ideas, see Subsect i on 10. a) Market Entry Issues and Appendix C. Page 4 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 5. Logistics, Customs and Transportation Issues a) Overv i ew . So u v en i r 25-cent coi ns for the Vancouver 2010 Ol ympic Winter Games each w eigh 5 grams (0.176369 ounces). Small size and low prices simplify many of the logistics, cust oms and t r anspor t at i on i ssues t hat l ar ger high-cost expor t s like automobiles demand. b) Logistics I ssues. The major challenge to exported Olympic coin sales is the physical d i stance betw een Canada and A ust r al i a. Toronto i s 9,682 mi l es (15,579 k i l ometer s) aw ay from the Australian capital of Sydney in New South Wales. Given that these coins will be sold via the Internet, the Canadian exporter assumes that most Australian customers will reside in cit i es w h i ch ar e mor e l i k el y t o have h i gh-speed broad band services. A not her l og i st i cs i ssue st ems f r om ti me zone d i f f er ences, like the 14 hours between Toronto (Eastern Day l i ght Time) and A ust r al i an cap i t al Cranber ra (Eastern Standard Time). Ti me d i f f er ences p r ev en t r eal -t i me t el ephone con t act . I nst ead , t he Canad i an expor t er w i l l program rapid-r esponse emai l s and post f r equent l y ask ed quest i ons on h i s w ebsi t e. Ot her l ogi st i cal advantages of expor t i ng Vancouver 2010 Ol ympi c quar ter s: ? No private or public bonded warehouse is r equ i r ed for st or ing supplies. ? Ju s t -in-time inventory is possible because Royal Bank branches and Pet r o-Canada locat i ons sell 40-coi n r ol l s of Vancouver 2010 quarters to the Canad ian publ i c at cost . c) Customs I ssues. A u st r al i an consumer s d o not have to pay any tax or duty on the imported Olympics coins. According to Australian Customs and Border Protection Service guidelines, goods (other than alcoholic beverages and tobacco products) may be i mpor t ed i nto A ust r al i a duty and tax f r ee i f thei r val ue i s A UD$1,000 (about C$895) or l ess. Canada Bor der Ser v i ces A gency does not require the following export documents for Olympic coin shipments: ? Bi l l of exchange and d raf t s ? Bill of lading ? Certificate of origin (NAFTA not involved for Australia) ? Expor t decl arat i on form B13A (prov i ded shi pment val ue i s under C$2,000) ? Importer licenses or permits ? Health certificates ? Packing list ? Weight certificates. A commercial invoice will be included, pr i nted on standard 8 ½? x 11? bond paper . Page 5 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins d) T ranspor tat i on I ssues. Per Canada Post , coi ns can be sent v i a f i r st -cl ass lettermail for any shipment that w ei ghs l ess than 30 grams (1.05821 ounces). The cost i s C$1.65 per mailed l et t er , a significant sav i ngs f r om parcel r ates. Each souvenir coin will be packaged in a small p r ot ect i v e coi n env el ope. The est i mat ed weight of a mailing envelope containing 3 coins and a commercial invoice i s 25 grams. The estimated delivery time to mail coins from Toronto to major A ust r al i an ci t i es i s 7 days for letters. Par cel d el i v er y would requ i r e 12 days. Mailing to provincial towns requires f r om 14 to 20 days, w hi l e some remote areas take 20 to 40 days for del i ver y . If there was an international trade contract for Winter Olympic coin exports, the Canadian exporter would opt for Car r i age Pai d To (CPT) as the app l i cabl e IN COTERM . Under CPT, the exporter pays for carriage and clears goods for export to the place of destination. Page 6 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 6. Product Regulations a) Overv i ew . Canad ian coins honori ng the Vancouver 2010 Ol ympic Winter Games are l egal cu r r ency and t her ef or e ar e subject t o f eder al Canad i an l aw . In additional to their value as collector items, th i s makes t he expor t ed coi ns an international: ? Uni t of account ? Store of value ? M ed i um of exchange. Ther e ar e no speci al r egu l at i ons t hat app l y t o Ol ymp i c souv en i r coi ns ev en w hen t hey ar e sold via the Internet to Australian customers. Of cou r se, international coin transactions are subject to l ocal and i nternat i onal laws that protect consumer s f r om cr i mes i ncl ud i ng counterfeiting, fraud and theft. b) Government Regulations. Vancouver 2010 Winter Ol ympi cs coi ns ar e not on A ust r al i an Customs and Border Protection Services? list of prohibited and restricted imports. The Expor t and Impor t Cont rol s area of Canada?s Depar tment of I nternat i onal Trade (1 800 267-8376) adv i sed that Olympics coins are non-r est r i ct ed goods for export purposes. Canada Bor der Ser v i ces A gency (Carol Convery) confirmed this finding. A ust r al i a has not imposed any quotas or ant i -dumping measures on these expor t ed Canad ian coi ns. The Royal Canadian Mint, a Crown Corporation, controls the quant i t y of Vancouver 2010 W i n t er Ol ymp i c quar t er s t o be p r oduced in concert with the Canadian government. About 22 million of each 25-cen t coin will be put into circulation or sold as collectible souv en i r s. The Compet i t i on Bureau of Canada has no specific labeling and packaging regulations that apply souv en i r coi ns. The Competition Bureau does have a consumer warning about fraud ar t i st s u si ng coi n col l ect i ons as par t of scam t hat f eat u r es bogus p r i zes and sw eepst ak es. c) Non-Governmental Regu l at i ons. Private coin collectors p r ov i d e p r i ce competition, but no association of coin collectors has enough clout to impose regulations on other coin traders. Non-governmental associations do work together to alert each other about possible coin count er f ei t i ng, m i sr ep r esent at i ons and f r aud somet i mes by post i ng w ar n i ngs on w ebsi t es. But for t he most par t , compet i t i v e mar k et p l ace f or ces r egu l at e t he sal es of col l ect i bl e coi ns via the Internet. The most en t r ep r eneu r i al and cost -ef f ect i v e mar k eter s ar e r ew ar ded w i t h t he most sal es. Page 7 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 7. Country Risks a) Overv i ew . A ust r al i a and Canada exemp l i f y mat u r e and r el at i v el y st abl e econom i es. A ust r al i a has an A A + w hi l e Canada enjoys a A A A public finance score from Fitch Ratings. St abl e gov er nment s hel p t o k eep down the cost of doing business and p r ev en t shor t ages. th b) Political Ri sk s. A ust r al i a and Canada t i ed for 9 p l ace as t he cl eanest coun t r i es among 180 count r i es eval uated by Transparency International?s Corruption Perceptions Index for 2008. The t abl e below compares ot her political r i sk cat egor i es f or A ust r al i a and Canada. Risk Categories Australia Canada Government Policies Conservative Conservative Expropriation Low risk Low risk Nationalization Low risk Low risk Strategies / Agreements Commonwealth, G20, OECD, UN Commonwealth, G8, G20, OECD, UN Among t he st r at egi es and agr eements, A ust r al i a and Canada share a speci al r el at i onsh i p under the Commonwealth of Nations. This vol untar y associ at i on of 53 i ndependent sov er ei gn st at es i s comp r i sed of mostly former British colonies. Together, Commonwealth member s st r i v e t o p r omot e human r i gh t s, good gov er nance and f r ee t r ade. c) Economic Ri sk s. Gl obal t r ade and macroeconomi c r i sk factors ar e summar i zed bel ow . Risk Categories Australia Canada Trade Barriers (tariffs) None specific to Olympic coin imports None specific to Olympic coin exports Trade Barriers (other) No quotas or countervailing measures No quotas or countervailing measures Export Policies Encourages export development and Encourages exports development and two-way trade two-way trade Exchange Rates Stable since Australian dollar is backed Stable since Canadian dollar is backed by a commodity-based economy by a commodity-based economy Net Exports -U$8.3 billion ($178.9 - $187.2) +U$25.1 billion ($461.8 ? $436.7) Protectionism Low risk Low risk Unemployment Rate 4.5% (2008); 5.8% in July 2009 6.1% (2008); 8.6% in July 2009 Inflation Rate 2.5% 0.1% (Consumer Price Index) Sources: CIA World Factbook, World?s Richest Countries c) Legal Ri sk s. A ust r al i an and Canad ian l egal systems are based on English common law. According to the CIA World Factbook, both nations accept compulsory International Court of Justice (ICJ) jurisdiction with reservations. Each country has adopted the United Nations Convention on Contracts for the International Sale of Goods (UNCISG), the working document t o r esol v e i n t er nat i onal t r ade l egal d i spu t es. A ust r al i a has been a U N C I SG member si nce 1989 w hi l e Canada implemented UN CISG l aw s i n M ay 1992. Page 8 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 8. Product Advantages And Disadvantages a) Overv i ew . M ost advantages of Vancouver 2010 coi ns come f r om i nher en t properties of t he smal l -si zed souv en i r quar t er . Those benef i t s w i l l be multiplied by the vast mar k et i ng buzz that the upcoming Olympic Winter Games is su r e t o gener at e. b) A dvan tages. Startup costs for the coin exporting project are under C$100. Other advantages are: ? Low unit cost of $2.52 including shipping (see Appendix A) ? RBC and Pet r o-Canada sell Olympic 40-quar t er rolls that require little storage space ? Un l i k e per i shabl e f ood expor t s, coi ns ar e ex t r emel y du r abl e ? Coin exports are unlikely to be damaged during the long trip to Australia ? Canad ian Ol ympi c quar ter s are l egal currency and therefore have intrinsic value ? Unlike technology products, Olympics coins w ill never become obsolete ? Whi l e ot her p r oduct s dep r eci at e, coins appreciate in value over time ? Canadian Mint sells Olympic quarters i ssued i n 2007 and 2008 at a 70% premium ? Ol ympi c quar ter s are par t of a 12-coin set, each of which honors an Olympic event ? Expor t er can cr eat i v el y m i x and mat ch coi n set s to maximize profits ? Var i et y of coi ns encou r ages r epeat busi ness t o col l ect comp l et e set of 12 ? Because of t hei r smal l si ze, coi ns can be cr oss-marketed with other products (example: humorous cards about A ust r al i an bobsl ed team w i th coi ns at tached) ? Canad ian M int , Vancouver 2010, federal and prov i nci al governments prov i de mar k et i ng that Canad ian expor ter can l everage ? Canada Competition Bureau imposes no packaging or labeling constraints. While the Canadian exporter will p r ov i d e p r ot ect i v e coi n env el opes, Ol ymp i cs coi ns can be mar k et ed as sel f -documented works of art from l ead i ng Canad ian ar t i sts. c) D i sadvan tages. Most of Vancouver 2010 coi n expor t d i sadvantages stem f r om the concern that Australians may not be sufficiently enthusiastic about the Winter Olympics to support demand for imported Canadian coin souvenirs. Ot her poten t i al negat i v es i ncl ude: ? Since starting in 1936, A ust r al i a has w on onl y 6 medal s at the Winter Olympics ? Due t o exchange f ees, intrinsic value of Canad ian coi ns in Australia i s const r ai ned ? Som e 22 million Olympic quarters will be p r oduced ; t h i s may l ead to an oversupply ? Intense competition from existing Canad ian, A mer i can and A ust r al i an coi n deal er s ? Low pr i ces for coin souvenirs may give consumer s t he per cep t i on of poor val ue ? Bill C-47 forbids commercial use of keywords like ? Olympi cs? or ? Vancouver 2010? ? Using Internet to reach Australians interested in Olympics coins may prove difficult. To a l ar ge degr ee, p r oject success depend s on how w el l t he Canad i an expor t er can t r ansl at e t he abov e d i sadv ant ages i n t o compet i t i v e st r engt hs. Page 9 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 9. Competition Issues Ov er 1 mi l l i on spectator s are expected to at tend the Vancouver 2010 Ol ympi cs, w i th some 2,800 med ia members broadcast i ng r esu l t s to millions of more viewers around the globe. Ol ympi c coi n expor ter s face stiff competition not only from other coin sellers but also from thousands of businesses promoting other forms of Winter Olympics merchandise. These r ange from cust om i zed Vancouver 2010 T-sh i r t s t o Ol ympi c mascot keychai ns. Within the global coin dealer community, the Canadian business expor t er has t o compet e with established coin suppliers from ou t si d e Canada. Large A mer i can coi n t r ad i ng compan i es have the ability to pur chase Vancouver 2010 coi ns d i r ect l y f r om the Royal Canadian Mint and then control p r i ces t h r ough v ol ume sal es. A ust r alia also has many local coin dealers, who can exploit local marketing and distribution channels to directly reach A ust r al i an consumer s. I n Canada, the of f i ci al Vancouver 2010 Ol ympi c Store i s the dominant website for selling Olympic souvenirs including coins around the globe. It appears on the first page of most Googl e sear ches f or Vancouv er 2010 coi n sear ches. According to web traffic rater A l exa.com , t he Vancouv er 2010 home page recei ved some 250,000 uni que v i si tor s dur i ng Ju l y 2009. That number shou l d r i se as the Februar y 12 star t date for the 2010 Winter Ol y mp i cs get s cl oser . About 1% of the 250,000 w eb sur fer s w ho v i si ted the of f i ci al Vancouver 2010 Olympi c Store w er e f r om A ust r al i a, r ep r esen t i ng abou t 2,500 A ussi es. The Royal Canad ian M int sel l s Vancouver 2010 coi ns to Canad ian or U .S. r esi d en t s only. Among U.S. coin dealer sites, many like ShopAtHomeTV.com specialize in higher-end Vancouver 2010 coi ns, t hat ar e p r esumabl y mor e p r of i t abl e. Each of t hese pu r e gol d or silver coins can cost up to U$5,000. One of Australia?s leading coin dealers, Downies Online, does not cu r r en t sel l Vancouv er 2010 Ol ympi cs coi ns. However, Australian coin dealers could potentially buy in bulk from Canad ian or A mer ican coin suppliers for resale to local Australian markets. Ther ef or e, t he major compet i t i on for A ust r al i an sal es that the Canad ian expor ter faces are: ? Official Vancouver 2010 Ol ympi c Store ? Royal Canad ian M int sal es to A ust r al i a v i a l ar ger Canad ian and U .S. coi n deal er s ? Thousands of small Canadian entrepreneurs selling Olympics coins to Australians. Page 10 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 10. Market Entry Issues and Gray Market Concerns a) M ark et En t r y I ssues. Ther e ar e v irtually no barriers to prevent new competitors coming into the market to sell souvenir coins from the 2010 Winter Olympic Games to consumers in Australia ? or in any other country for that matter. The I n t er net makes i t r emar k abl y easy t o r each A ust r al i an consumer s v i a t he I n t er net . Any computer user with a hi gh-speed broadband connection can sell Vancouver 2010 coi ns v i a t he many distribution channels available online. Examples of web distribution channels with little or no market entry barriers include: ? A ust r al i an eBay si t e, w hi ch al r eady auct i ons 2010 Winter Ol ympi cs coi ns ? Craigslist A ust r al i a collectibles for sale listings (available to 8 Australian cities: A del ai d e, Br i sbane, Canber r a, Dar w i n , H obar t , M el bou r ne, Per t h and Sydney ) ? Gumt r ee A ust r al i a collectibles for sale listings (avail abl e to 10 A ust r al i an local areas: A del ai d e, Br i sbane, Canber r a, Dar w i n , Per t h , Gol d Coast , M el bou r ne, N ew cast l e, Per th, Sydney , Tasmania) ? Amazon.com w hi ch al r eady l i st s 2010 Vancouver 25-cen t p i eces f or sal e ? Sel f -di r ect ed YouTube videos that promote Olympic coin sales to Australia ? Google Ads sel l ing W i n t er Olympics coi ns to the A ust r al i an market ? Fr ee Googl e Bl ogger si t e w her e one can post ar t i cl es p r omot i ng Olympics coi ns ? Own H omest ead website like worldsrichestcountries.com costs U$4.99 monthl y ? Internat i onal t r ade por tal s like al i baba.com allow free listings to reach coin resellers. Ot her i d eas f or e-commer ce mar k et i ng p r omot i ons ar e p r esen t ed i n A ppend i x C. The Canad ian expor ter can al so use popular social networking sites, including: ? Facebook Australia ? Linked I n .com ? Twitter Australia. b ) Gray M ark et Concerns. The growth of distribution channels via the Internet continues to accel er at e at exp l osi v e r at es. Yet many of t hese distribution channels are highly unr egu l at ed . Lack of controls encourages pr i ce-cutting, bartering, h i d den f ees or ev en criminal activities like f r aud . Th i s i s particularly t r ue w hen bar r i er s t o en t r y ar e m i n i mal . Gray market issues can directly impact the Canad ian expor ter ? s bottom-line profits. For example, a ci r cu l ated 2010 Ol ympi cs hockey quarter is currently for auct i on on eBay A ust r al i a starting at U$0.01 but w i th a $14.95 shi pp i ng charge. The Vancouver 2010 speed sk at i ng quar ter i s of fered at an immed iate buy pr i ce of U$8.95 p l us an ext r a $8.95 for shipping and handling. The Canadian exporter will have difficulty determining a competitive price in such an undisciplined gray market as eBay A ust r al i a. Page 11 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 11. Foreign Exchange Concerns Because expor t ed Vancouv er 2010 coi ns ar e l egal Canad i an cu r r ency , t he exchange r at e f or the Australian dollar becomes an economi c consideration. A st r onger Australian dollar enabl es A ussi e consumer s t o buy mor e i mpor t ed coi ns w i t h t hei r exchanged cu r r ency . A w eaker A ust r al i an dol l ar makes impor ted Canad ian coins more costly. The chart below shows that the average monthly value of the Australian dollar has improved i t s pur chasi ng pow er agai nst the Canad ian l ooni e by 2.9%. The A ussi e dol l ar has gone from a valuation of 0.89051 star t i ng 2008 to 0.916686 Canad ian as of ear l y Ju l y 2009. AUD & USD Versus CAD 1.4 USD +14.8% 1.2 1 AUD +2.9% 0.8 0.6 0.4 0.2 0 Source: x-rates.com Over the same t ime span, the A mer i can dol l ar has appreci ated by 14.8% against the Canad ian l ooni e. Valued at $1.00984 i n January 2008, the U .S. greenback w as up to $1.15933 in Canadian funds in ear l y Ju l y 2009. Although Australians can readily exchange funds into Canadian currency, the Canadian expor t er d eci d ed t o require U.S. currency as payment for Vancouver 2010 Ol ympi cs coi ns. Economic factors drive this decision. Si nce M arch 2009, A ust r al i an cur r ency has app r eci at ed by ov er 20% against U .S. dollars but l ess than 10% agai nst the Canad ian l ooni e. Page 12 of 22 Value in CAD Jan 08 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 09 Feb Mar Apr May Jun Jul FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins The strengthening trend against the U.S. dol lar i s expect ed t o con t i nue. That ? s becau se commodity-based econom i es l i k e A ust r al i a and Canada ar e expect ed t o do bet t er i n t he econom i c r ecov er y t han t he cr ed i t -stressed United States. This is particularly pertinent du r i ng ear l y r ecov er y st ages w hen t he Vancouv er 2010 Ol ympi cs w i l l happen. A w eaker US cu r r ency w i l l encou r age mor e sal es of Canad i an Ol ymp i cs coins priced in US dollars. That?s because Australian consumers w ill be able to buy more based on their stronger home currency. By requiring A ust r al i an consumer s t o pay in US dollars, the r esu l t i ng cu r r ency hedge diversifies the risk of an appreciation or depreciation across 3 world-cl ass cu r r enci es: Australian Dollar UP Canadian Loonie UP U.S. Dollar UP Australian Dollar DOWN - Australian sales DOWN Australian sales DOWN Canadian Loonie DOWN Australian sales UP - Australian sales UP U.S. Dollar DOWN Australian sales UP Australian sales DOWN - A stronger A mer i can dol l ar means t hat t he v al ue of sal es i n U .S. cu r r ency i ncr eases when exchanged for Canad ian dol l ar s. When Australian dollars go up against U.S. dollars, more Australian consumers can afford to buy Olympic coin souvenirs. 12. Trade Agreements Between Canada And Australia A ccord i ng to Australia Business by James L . N olan and Edw ard H i nkelman, A ust r al i a and Canada are par tner s i n a w ide r ange of bi l ateral agreements. Thi s i ncl udes the Canada- Australia Trade Agreement (CANATA). CA N A TA w as est abl i shed i n 1960 and amended i n 1973. WTO negotiations hav e gener ated tariff reductions and super seded most CANATA p r ov i si ons. While lacking free trade, t he cl ose relationship between Australia and Canada i s sai d t o be su r passed on l y by Australia?s kinship with New Zealand. The A ust r al i an Gov er nment ? s Canada Count r y Br i ef of M arch 2009 char act er i zes t he intimate bond w i th Canada as based on ? a comp r ehensi v e r ange of bi l at er al agr eement s cov er t r ade, soci al secu r i t y , ai r ser v i ces, consu l ar ser v i ces abr oad , mu t ual assi st ance i n cr im inal mat ter s and avoi dance of double taxation two countries.? H er e? s a speci f i c examp l e: t he bilateral convention si gned betw een A ust r al i a and Canada to av oi d doubl e t axat i on and p r ev en t t ax ev asi on for i nternat i onal t r ade t r ansact i ons. Desp i t e t hese bi l at er al t r ade agr eement s, t r ade betw een t he tw o par t ner s r emai ns comparatively small. Stat i st i cs Canada r epor ts that Canad ian expor ts to A ust r al i a i n 2008 w er e C$2.15 billion. That represents a relatively tiny 0.44% of Canada?s total $483.6 bi l l i on in overall exports last year. Similarly, Australia shipped C$1.65 w or th of goods to Canada i n 2008 or ju st 0.38% of the $433.4 bi l l i on of imports into Canada for the year. Page 13 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 13. Intellectual Property Right Concerns L i k e any mer chand i se tied to the Vancouver 2010 Winter Ol ympi cs, col l ector coi ns ar e subject to Canad ian Bill C-47 which prohibits the use of trademarked t er ms and i mages. Bill C-47 makes it illegal to use specific words and symbols that could lead consumers to r easonabl y assume t hat a commer ci al endeav or i s endor sed or associ at ed w i t h official Vancouver 2010 or gan i zer s and sponsor s. Bel ow ar e t h r ee C-47 schedu l es of con t en t that cannot be used to promote business-r el at ed Olympic i t ems w i t hou t per m i ssi on . These excl usi ons ar e ef fect i ve unt i l December 31, 2010. Schedule 1 forbids t he use of any t r ademarked Ol ympi c images or any of the following t r ademar ked Olympics-r el at ed terms if r el at ed to a commerci al initiative: Canadian Olympic Committee Olympia Paralympiad Canadian Paralympic Committee Olympiad Paralympian Citius, Altius, Fortius Olympian Paralympic Faster, Higher, Stronger Olympic Paralympic Games International Olympic Committee Olympic Games Paralympics International Paralympic Committee Olympics Spirit in Motion Source: Bill C-47 Schedule 2 forbids the use of any t r ademarked Vancouver 2010 images or any of the fol l ow ing t r ademarked Vancouver 2010-r el at ed t er ms i f r el at ed t o a commer ci al initiative: Canada 2010 Sea to Sky Games VANOC Canada?s Games Vancouver 2010 Whistler 2010 COVAN Vancouver Games Whistler Games Games City Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games Source: Bill C-47 Schedule 3 prohibits combining any so-cal l ed Par t 1 w ord (Games, 2010, Twenty-ten, 21st, XXIst, 10th, Tenth, Xth, Medals) ei t her among t hemsel v es or w i th any Par t 2 w ord (Winter, Gold, Silver, Bronze, Sponsor, Vancouver, Whistler). Another constraint is that the Canadian exporter must not obtain or reproduce images of intellectual property belonging to the Royal Canadian Mint without per m i ssi on. Th i s i ncl udes Vancouver 2010 coi ns. Page 14 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins To protect against t r ademark l aw su i t s, the Canadian exporter will avoid using: ? Trademarked Vancouver 2010 Winter Ol ympi c terms under Bi l l C-47 ? Royal Canad ian M int images. I nstead , the Canad ian expor ter will take his own photos of Olympic quarters and focus on legally available Internet marketing keywords pertinent to Australia?s focus in the upcoming Olympics. Examp l es ar e d i scu ssed bel ow . According to Wikipedia, there will be 86 events involving 15 competitive sports at the upcoming Vancouver 2010 Winter Ol ympi cs. Competitive sports in which Australian par t i ci pants ar e expected t o be i n medal con t en t i on appear i n bold below. Alpine skiing Curling Luge Ski jumping Biathlon Figure skating Nordic combined Snowboarding Bobsleigh Freestyle skiing Short track speed skating Speed skating Cross-country skiing Ice hockey Skeleton Source: Wikipedia Australian competitors have won gold medals in aerials and moguls freestyle skiing, as well as short-t r ack speed sk at i ng. Bel ow ar e some pot en t i al k eyw or d s t o mar k et Ol ymp i cs coi ns t o A ust r al i ans that are in compliance with C-47 l egal r equ i r ement s. ? World championship speed skating coins ? Short track speed skating coins ? Fr eest y l e sk i i ng medal aw ard coi ns ? First place moguls skiing coi ns ? Winning aerials skiing coins ? Vancouver coi ns for A ust r al i an w i n t er spor t s. Note that Australia is likely to be sympathetic to Canad ian government en f or cement of t r ademark law that protects Ol ympi c images and w ords. Sydney 2000 Games had similar r est r i ct i ons under A ust r al i a? s Sect i o n 11 Act, although less defined than C-47 legislation. Page 15 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 14. International Law Concerns Roughl y 10,000 mi l es (16,000 k i l ometer s) of ocean separate Canada from A ust r al i a. A ny international law dispute could have devastating effects on the Canadian exporter?s sh i pment s t o the Land Down Under. Fortunately, Canada and A ust r al i a have simi l ar English common law sy st ems and homogeneous approaches to mat ter s i nvol v i ng i nternat i onal l aw . A s ment i oned under Sect i on 12. T r ade A g r eemen t s Bet w een Can ada an d A u st r al i a, both counties have partnered in many bilateral agreements. As well, the two Commonwealth nations support multinational pact s l i k e t he Anti-count er f ei t i ng agr eement which could be invoked should an Australian cust omer i l l egal copy expor t ed 2010 Winter Olympics coi ns. A general rule of thumb is that if an action (like defacing coins) is illegal in Canada, the same legal principle will apply in Australia. Also blatantly obvious is the fact that English is the predominant language of communication in the two trading nations. Still, t he nat i v e use of t he same l anguage r educes miscommunications and misinterpretations in matters of international law. Canada has registered only one dispute with the World Trade Organization against A ust r al i a si nce 1995. That minor complai nt had to do w i th impor ted A ust r al i an salmon. A ust r al i a does not have any i nternat i onal l aw act i ons agai nst Canada posted on the WTO w ebsi t e d i sp u t es page. Even if the Canadian exporter is faced with a lawsuit from Australian importers, Canada and A ust r al i a are both members of the following United Nations governing bodies for dispute resolution: ? International Court of Justice (ICJ) ? I n t er nat i onal Chamber of Commer ce (I CC) ? Conf er ence on Tr ade and Dev el opment (UN CTA D) ? Commission on Trade Law (UN CITRA L) ? Commission on Contract for the International Sale of Goods ( U N C I SG ) . Page 16 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins 15. Government of Canada Promotional Assistance The Canad i an gov er nment i ncen t s expor t s t o ov er seas mar k et s. Bel ow ar e examp l es of speci f i c p r ogr ams that help the Canadian expor t er penet r at e t he A ust r al i an mar k et . ? Expor t Dev el opment Canada hel ps Canad ian expor t er s expand in foreign markets ? Canada Bor der Ser v i ces A gency has a Small and Medium-si zed Ent er p r i se Cent r e ? Canada's Trade Commissioner in Australia is a highly skilled commercial diplomat ? Global Opportunities for Associations (Program for Export Market Development) ? Program International Business Development has seminars, exhibitions, trade shows ? N EXPRO ? New Export Program offers Department of International Tr ade sem i nar s ? Canad i an Bor der Ser v i ces A gency al so of f er s f r ee impor t and expor t sem i nar s ? Team Canada i s a speci al t r ade mi ssi on to hel p Canad ian bu si nesses w i n deal s ? Foreign A f fai r s and Internat i onal Trade Canada si t e includes RSS new s f eeds ? Department of International Trade site offers t he l at est t r ade new s and v i d eos. In addition, the Depar tment of I n t er nat i onal Tr ade coaches both Canad ian importer s and expor t er s br eak i ng into i nternat i onal markets (see A BC importer flow diagram below). DIT, Ottawa 1 Trade officer 5 7 9 10 8 6 ABC Importer XYZ Exporter 2 Trade Commission P.O. + P.I. = ISC 4 ISC is the duty of the Exporter, 3 where the Exporter signs first. It is a Bilateral Contract Recommendations Source: Import/Export Procedures DIST 9006 (David Colaluca) Action Items 1. Letter of interest 2. Letter of inquiry 3. Search process, recommendations 4. Advise Importer of possibilities 5. Sends a letter of inquiry, attached with the letter from high commission and references 6. Letter of reference 7. Letter of intent: concerns about pricing, quality, packaging, packing, labelling, marking?contract 8. Confirms letter of intent 9. Importer issues a purchase order (P.O.) 10. Exporter issues a Pro-forma invoice (P.I.) Page 17 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins Appendix A Unit Price Calculation for Expor ted V ancouver 2010 O l ymp i cs Coins Each unit consists of 3 Winter Olympic quarters each contained in a small coin envelope, a mailing env el ope, a commerci al i nvoi ce on standard 8 ½? by 11? paper w i th f i r st -cl ass mai l post age affixed. Resear ched A ssump t i ons: Cost of 40-coi n r ol l of Vancouver 2010 Winter Ol ympi c quar ter s i s C$10. Ther ef or e each coi n costs C$0.25 Cost of 250 brown Kraft coi n env el opes (3 3/ 8? by 6? ) i s 17.96. Ther ef or e each coi n env el ope cost s C$0.08 Cost of 500 mailing env el opes i s C$11.99. Therefore each mailing env el ope cost s C$0.03 Cost of 5000 paper sheet s for invoice is C$48.96. Therefore each i nvoi ce sheet costs C$0.01 Cost of postage to Australia is C$1.65 per l et t er . Cal cu l ate Un i t Cost for Each Shipment $0.75 Set of 3 coins $0.08 Coi n env el ope $0.03 Mailing envelope $0.01 Inv oi ce sheet $1.65 Post age t o A ust r al i a Total Un i t Cost C$2.52 Per shipment of a 3-coi n set N otes D i sm i ssed as t oo expensi v e w as t he cost of 100 plastic coin holders at C$11.50 (includes C$6.50 for shi pp i ng). Each p l ast i c coi n hol der costs C$0.115 and a set of 3 w ou ld add C$0.345 to charges for each shipment. Page 18 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins Appendix B Funny Facts about Australia at Olympic Winter Games In 2002, A ust r al i a w on tw o gol d medal s. Steven Bradbury, a member of the bronze- winning 1994 relay team, won gold in short track speed skating when all of his competitors in the 1000 metres final crashed out on the final turn. Jacqui Cooper w as p r ev i ousl y t he favourite to win a medal for Australia in aerials, but injured herself in training. A ust r al i a's shor t t r ack r el ay team w ent i nto the 1992 Ol ympi cs as world champions, but the t eam cr ashed i n t he sem i -f i nal s. I n the 1960 Winter Olympi cs, A ust r al i a? s hockey team gave up 88 goal s l osi ng al l 6 games. Alisa Camplin, who had never won a world cup event and was so nervous that she did not [20] eat dinner the night before the final, won the women's aerial skiing. Per Wikipedia?s Australia at the Winter Olympics, Australia first competed at the Winter Ol ymp i cs i n 1936. I t s sol e r ep r esen t at i v e, K ennet h Kennedy , participated in speed skating. In 2006, A ust r al i a sent 40 athl etes to compete i n 10 spor ts, a record number of competitors and events. For the first time, Australia set a goal of winning a medal. Aerial skiing medal hopeful Lydia Ierodiaconou i n ju r ed her sel f w hen she landed badly in the second qualification jump, while Jacqui Cooper, who was first in the qualification round, crashed in both of her finals jumps. Alisa Camplin w on br onze, her second medal . M i chel l e St eel e, w ho l ess than tw o years ear l i er w as a beach f l ag sp r i n t er , w as seen as a medalist in skeleton, but inexperience with the intimidating and technical track contributed to her coming 13th. Australian Winter Olympics Medal Winners Winter Olympics Medal, Event and Australian Winner 2006 Turin Gold in men?s moguls, freestyle skiing (Dale Begg-Smith) 2006 Turin Bronze in women?s aerials, freestyle skiing (Alisa Camplin) 2002 Salt Lake City Gold in women?s aerials, freestyle skiing (Alisa Camplin) 2002 Salt Lake City Gold in men?s 1000 meters, short-track speed skating (Steven Bradbury) 1998 Nagano Bronze in women?s slalom, alpine skiing (Zali Steggall) 1992 Lillehammer Bronze in men?s 5000 meter relay, short-track speed skating (Australian team) Based on t he Top 3 Canad ian moments coi ns to be announced i n September 2009, a mar k et i ng campai gn cou l d be cr eat ed based on coi ns that comically pay tribute to A ust r al i a? s ? top? moments and dubious accomplishments at the Winter Olympics. Th i s w ou l d r esembl e t he ? Eddy t he Eagl e? commer ci al bl i t z af t er t he unsk i l l ed UK sk i er p l aced last but to glorious accolades around the globe for just finishing the competition. Page 19 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins Appendix C Additional E-commerce Marketing Promotions In addition to the web distribution channels specified under Sect i on 10. M ar ket En t r y I ssues and Gr ay M ar ket Concer n s, additional Internet resources for promoting Vancouver 2010 coi n sal es t o A ust r al i a ar e l i st ed bel ow . Publish free promotional articles on ? w w w .ar t i cl esbase.com Publ i sh f r ee promotional articles on ? w w w .ar t i cl esnatch.com Publish free promotional articles on ? w w w .t hef r eel i br ar y .com Publish promotional articles on ? w w w .associ atedcontent .com Publish tag articles, linked blurbs and reviews on ? www.technorati.com I ssue p r ess r el eases for Olympic coin new s on ? w w w .r eadmed i a.com / ser v i ces Post promotional slide presentations on ? Sl i d eshar e.net Submit website URL to sear ch engines like ? Google, Yahoo! Search (also M icrosoft Bing) Su bm i t website URL to blog directory like ? Technorati Submit website URL to open d i r ect or y like ? dmoz.org Ping blog to promote site over Internet on ?. ecademy Add RSS feed to Wor l d ? s Ri chest Coun t r i es w ebsi t e u si ng Jav ascr i p t and H TM L code. Page 20 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins Appendix D Sam p l e B13A Expor t form i s o n CBSA w ebsi t e. Requ i r ed f or sh i pment s of C$2,000 and up. 1 2 3 4 5 6 7 8 9 0 0 1 7 N/A Daniel Workman 30 ABC Street, #217 Toronto Ontario, Canada M5A 3Y3 Universal Coin Dealers Level 10 227 Collins Street Melbourne Victoria, Australia 3000 VIC Australia Canada Post 0000-007 X N/A 2009/07/17 One Bubble-wrap cardboard Toronto Invoice WRC-UCD-AUS 0001 N/A N/A CAN ON Vancouver 2010 Winter Olympic coins 9705.00.00 10,000 quarters CDN$2,500 Canadian dollars 50 kilograms CDN$2,500 $50.99 N/A N/A Daniel Workman WorldsRichestCountries.com 30 ABC Street, #217 Toronto Ontario, Canada M5A 3Y3 X 4 1 6 6 0 1 0 0 0 0 Daniel Workman July 17, 2009 Page 21 of 22 FEASIBILITY STUDY Exporting Vancouver 2010 Winter Olympics Coins Appendix E A dd i t i onal Ref erence Sources Australian trade audio clips ? A ust r al i an Gov er nment Websi t e Australian Trade Commissioner in Toronto ? A ust r ade Websi t e A ust r al i an Key Contacts ? Australian Consulate Website A ust r al i an Cust oms ? A ust r al i an Cust oms Websi t e A ust r al i an Cust oms For ms ? Form Listing Australian Government Quick Guide to Customs ? Websi t e L i st i ng Canadian Bill C-47 ? Latest version of C-47 l aw Coinmill.com ? Currency Conv er t er Compet i t i on Bureau of Canada ? Gov er nment w ebsi t e Concerns about Olympics intellectual property ? Tr ademar k ed i mages Concerns about Olympics intellectual property ? Trademarked keywords City Distance Tool ? City Distance Calculator Permi ssi on to Use Royal Canad ian M i n t I mages ? Intellectual Property Committee Postal Delivery Times for Australia ? EHow.com Wikipedia ? 2010 Winter Ol ympi cs Page 22 of 22
Posted: 12 July 2010

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