Start An Import Export Business
Startup Cost:
Learning Curve:
Flexibility:
Income Potential:

The import-export field is big business. International trade is seemingly becoming a larger and larger part of business every day as cultures interact more and more with one another and the economy shifts towards more of a global one. The profitability and neccessity of international trade arises either because some goods are not able to be produced as efficiently in some areas of the world as others. This could be because of the availability of nearby resources or differences in prices from one location to the other. Some merchandise can't be made and must be importated solely because the local region does not have the neccessary resources to make those products, while in other cases it may be possible to make, but is cheaper to import from somewhere else. This market is vast, and presents a wide variety of opportunities and niches. For example, you can focus on importing, exporting, or both. You can choose to buy products from artisans and overseas manufacturers yourself, then pack and ship them yourself to local retailers. Or, you can seek out buyers directly for the manufacturers of another country and not ever take ownership of the merchandise yourself. You can choose to work on a commission basis for each transaction, or if you believe the merchandise will be a hard sell, you can select a flat fee retainer to ensure that you are compensated for your time and work even if no buyer is ever found at a wide enough profit margin. Import-Export businesses can handle everything from just shipping, to marketing, to working with established connections of potential buyers and suppliers.

Import-Export businesses can generally be started and operated from home on a rather low budget. Though costs can increase significantly if you decide to take ownership of some of the merchandise and you want to package, ship, or market merchandise directly. There can be some travel involved if you decide that it would be helpful to meet in person with a manufacturer, retailer, or any other organization involved in the chain of events. For much larger and more complex deals with a lot on the line, a face-to-face meeting can instill confidence and provide the greater sense of personal investment and comfort that is sometimes neccessary when dealing with larger transactions. The flexibility in this business is moderate to high, again depending upon the specific niche within this industry you choose to focus on. Income potential can moderate to very high again depending on a wide variety of factors, and which channels or niches you decide to focus on.


Be sure you have good sales skills. You will be making a lot of calls and involved with a lot meetings to sell your services as well as the merchandise you are dealing with.

It helps to already have import-export experience, or some thorough knowledge in one specific area. An example of this would be someone who has already worked in the clothing industry, handling supplier-retail exchanges. This person would already have the knowledge of a specific type of industry, as well as relationships with former contacts with suppliers and potential retailers.

Consider becoming fluent in the local language of the specific foreign countries with which you will be dealing. This can provide a great advantage in landing deals with foreign businesses.


Import/Export Business Startup Guide Import/Export Business Startup Guide

Entrepreneur Magazine's bestselling guide is your passport to success. As a top import/export business agent, you can net a healthy six-figure income by matching buyers and sellers from around the globe, all without leaving home.
 
 
Copyright 2008 by HomeBasedBusinesses.com. The content found on this website is the opinion of the author and is for
informational purposes only. No guarantees are made as to any of the information's completeness or accuracy, and results will vary.