Doing business overseas and online: World Business Exchange - a lucrative connection

Black Enterprise, April, 1995 by Nadirah Z. Sabir

It was a full house that led Roosevelt and Cathy Roby to start a home-based enterprise. With 10 young children on hand, they simply couldn't afford a babysitter. The Robys needed a way to earn a living and stay close to their Santa Monica, Calif., home.

Roosevelt, now 52, had worked as a diesel mechanic, but his continued efforts to get into his company's union were fruitless. It was Cathy, 46, a hair stylist, who encouraged him to start his own business. That was about 10 years ago.

After researching the home-based business market, the couple founded the REIS Network (Researched Entrepreneurial Ideas Specialists Group). The company produces and distributes audio tapes that teach people how to start and run a variety of low-cost, home-based businesses. Within its first year, REIS grossed $100,000.

One idea led to another. As a result of their research, the Robys decided to form a computerized system to link buyers and sellers around the world.

With $1,500 in seed money, they formed the World Business Exchange Network (WBE-Net) in 1991. For an annual fee of $450, sellers of goods and services can list their products on WBE-Net.

On the other side, shoppers can access the network for a minimum monthly charge of $10, plus a $60 setup fee.

The 24-hour-a-day system offers information on more than 34,000 industry-specific vendors, manufacturers, trade contacts and import/export opportunities. It also lists profiles on buyers and sellers of various products and services.

To attract members, the Robys bought time on a Christian Science radio network, which reached listeners all over the world. They also bought small classified ads in newspapers around the globe.

Within the first month, WBE-Net received 9,000 responses. Today, the network services 61,000 members in more than 75 countries, including Japan, Russia, the Bahamas and Germany.

Thanks to thousands of subscribers, WBE-Net has raked in an estimated $4 million in subscription fees alone.

Millions of people around the world want to buy products, from toilet paper to linens to used clothing, says Roosevelt.

"Believe it or not, right now in Japan there's a huge demand for Jheri Curl products. Go figure," he adds. "We need to know that we can sell that stuff there."

Roosevelt, who is chairman of the International Government and Trade Commission, says that African-American members make up a mere 4% of his network. Black-owned businesses are missing out on vast opportunities, he says.

"There are people around the world who don't care what color you are. They just want to know--can you provide the products or services they need."

WBE-Net, 2450 Broadway, Suite 550, Santa Monica, CA 90404; 310-828-6202