To Starting Your Own Import And Export Business
In years gone,
starting an import export business was tough. With the introduction of
the Internet it has become so much easier. You can start a very
profitable import export business very quickly now.
to start an Import Export Business
first step is to choose a name for your business and then decide
whether you are going to be a sole trader, form a partnership with
someone else, or create a limited company such as an LLC in the USA.
You will then need a website for your business.
When you are
creating your website be sure to use a platform that will make the
growth of your business through your online presence very easy.
WordPress is an ideal platform for this. You will need a domain name
(your business name or other) and a web hosting account so that you
can make your website live on the Internet.
Your aim with
your online presence is to provide a balanced flow of communications
and also to sell products both online and offline. Building your
customer base is essential so that your import export business can
make large profits.
When you are
looking for products to import and export donít try to be ďall
things to all customersĒ. Pick a niche that you know will have
demand and only sell products within this niche. As you grow your
business you can expand into other niches.
When it comes
to selecting products you can use two different criteria. The first
one of these is products that you like personally. You need to be
careful with this one as the demand may not be as you expected. The
advantage of selling products that you like is that your passion will
win through in your advertising.
The second method is to provide products that you know will sell. There are a number of research tools that you can use online to verify that there is demand for products that you are thinking of importing or exporting. So use them wisely. This is the preferred method of choosing products.
Find the right Markets
You have to
find the right market for your products. A popular method of importing
and exporting these days is to find great products that are
manufactured in China, and then sell these to the USA, the UK,
Australia, Western Europe and so on.
always looking for new and innovative products, so research the trends
in your niche. When you become more experienced in import and export
you will learn how to spot opportunities in the market. If you can get
in on the ground floor of something then making big money as an
importer or exporter will certainly be possible.
Finding the best Suppliers
There are a
number of useful websites that you can use to find potential suppliers
of your products. One of the best is Alibaba.com. There is also
GlobalSources.com and ThomasNet.com. On Alibaba in particular there
will be a lot of Chinese manufacturers showcasing their products.
When you find
some products you are interested in order a sample from the suppliers.
When you receive the samples check them out thoroughly, and make sure
that the quality of the product is high. You may even want to suggest
improvements and additions to the product and good suppliers will
always listen to your requests.
Get your Pricing right
model for a successful import and export business is pretty simple.
The money that you will make is the volume of sales (units sold)
multiplied by the profit margin that you have included. It is easy to
get too greedy here so research the prices of similar products and be
sure not to overprice. A 15% markup over cost is typical for a good
import export business.
Get those Customers
customers will find you via your website but donít rely on this. You
need to go looking for customers so develop local contacts and use the
Chamber of Commerce and trade organizations. These people will know
quite a lot about the international marketplace so use their knowledge
to your advantage.
Once you have
found customers locally for your products then you need to concentrate
on transporting product from China (or wherever your supplier is
located). You can use the services of a freight forwarder who will
ship from your supplierís warehouse to your chosen location. When
you are starting out, FedEx and UPS are good logistics companies to
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