Steps to starting your import and export business:
Are you interested in doing business with the rest of the world? It is not a bad idea, because now thanks to free trade agreements and the facilities offered by technology, you can start your venture with this type of business. Thanks to the Internet, import or export business creation can be simpler than you thought and very profitable. Here are some basic notions to start:
Select the name of the company and create a website and blog: Without a website or blog, you cannot have a business import or export network. Build a platform that allows you to develop an online presence and grow your business. The objective is to balance the flow of communications, the sale of products and build their customer base to boost the profits of their international businesses. First, remember to register your New Trades Career name with a reputable web hosting provider. Then consult with an international trade lawyer and an accountant for advice on establishing virtual import and export business.
Choose a product to import or export: When it comes to import and export, the chosen product may not be for all customers. You must decide something and hold on to it. If you saw something in another part of the world that you would like to sell to your market, you must first conduct a market study to find out if there is a good buyer market.
Search for the right market: If you already selected a product, now you have to find somewhere to sell it. You will improve your chances of choosing a good market if you cultivate a special ability to track current or potential trends. You must do the task of studying the market before locating the best external or internal niche for your product or service. Two places to check trends are the World Bank and Global Edge.
Product price: The business model for an import or export company is based on two fundamental elements within an international sale purchase operation:
- First Volume (number of units sold).
- Second Commission in that volume.
The objective is that the price of your product (which implies your commission) does not exceed what the customer is willing to pay. Usually, importers and exporters have a profit margin of 10% to 15% on the cost, which is the price that the manufacturer charges. Keep the price of the products separately from the logistics, since, at some point, the two combines to mine deter a price set per unit. A good transport company can help here. Don't let this part intimidate you.
Find customers: Whenever you've done a good job with the optimization of engines to search your blog or website and other media promotion, customers will find you. However, you cannot rely on it alone; you must go hunting for clients. Consult with local contacts to enter the commercial organizations, chambers of commerce, embassies and consulates of commerce. There you can find lists of specific contacts. Do not forget to exploit the possibilities offered by Facebook, Linkedin, and Twitter. The point is to keep your business in the minds of potential customers worldwide.
