How to Start an Import and Export Business – Ideas and Opportunities
Trade has its history back to the bible age with the great caravans of the biblical age that carried their silks and spices Trade is the exchange of commodities between two or more people or a group and it exists because a group of people or a country have demand for a commodity that is not available to them or they do not have access to.
Trade can be said to be that bridge that helps to provide commodities in demand. With technology advancement in the world, international trade becomes more and more rewarding in personal terms and profit satisfaction. In present time there is no commodity that cannot be traded internationally.
This is the purchase of goods and commodities from other countries which are not available in a country or state. Importation of good is unavoidable because no matter how developed a country is there are some necessities that cannot be produced in that country therefore, it is gotten from other countries that obviously have them in abundance to be able to export. This is one business that can hardly be
This is the selling of good and commodities that are lacking and are in demand to another country on request. Exportation is the source of income to many countries, an example is Nigeria. Nigeria exports its crude oil and this this a major source of income for the country.
The Import and Export Business
If you are looking for a successful business that would take you from nothing to something and will provide with fun in the process, then the import and export business might be the solution. Not only does this business accord you the prestige of working with clients all over the world, but it also does not require an ambiguous financial investment. It does not require any business experience but a good head for organizing and sales. Even though it requires a lot of attention it is sure to yield a handsome profit that will make the time worth the while.
This business requires the ability to sell and an air for diplomacy and also the desire and determination to work. The biggest advantage is the money you will make because you will serve as the provider of commodities that are unavailable in a particular country and for it to be imported or exported, it means that it is on demand.
Starting up this business does not require much, you can start this business with a telephone at home, a file system, business cards. Once you kick start, you may want to consider a website to help publicize your business. I must say that a logo is important because until you establish personal contact, your logo represents you, this is why is has to be professional to prove sincerity and to build trust.
Like a stated earlier, determination is necessary for this business to work it should be your watch word. I must warn that at first, it will be slow and at this stage you will need to make contact, and sell yourself but your dedication will be worth it after you hit that first big check.
You don’t need to know the president to have a successful business, the contacts on your phone book should always be your starting point. That cousin that lives abroad, that old class mate, that uncle that had promised to help, these people play a very vital role is starting up not only an importation and exportation business but any business at all.
Contact them informing them of a business you just started and how you would like them to be one of your first business partners and it might surprise you how this can be a stepping stone. Another way to establishing your contact is through the chamber of commerce of the countries you intend to trade with.
One logic to this business is starting small, identify the countries you want to sell good to or import goods from, find out what countries have the merchandise you want to import, what the countries have and what the demand should be of importance to you. Research as I will always say is necessary, through research you can find out what goods to import, how you can distribute
Analyze The Market
For this business to work, you have to read everything you can find about the trade, look at international newspapers, trade publications, news magazines to study and know where there is demand for your products. Through your study you would be able to find out where your product is in high demand and you will also be able to know and understanding prizes to enable you know how to manage your business in such a way that you have an edge over possible competitors.
While you interact with foreign companies ensure to have a very good rapport with their representatives. With a good relationship, you will be able observe their method of distribution and then you put this methods into consideration to help boost your relationship further.
This is done to companies or individuals whom you have contacted earlier and then drawn a contract with and off cause you would have to get your sale quotation from your manufacturer on the quantity of the goods.
Before going into any business, you need to ask yourself questions to know if you would be able to put in the hard work and dedication that is required to make that business successful. It is by so doing that you know if truly you are business inclined.