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Starting a Importing and Exporting Business
Trade makes the world go round. The term the global village is bandied around nowadays because of how interconnected and small the world seems.
These days, almost everything is available either in shops or by order over the internet. It is, of course, possible to get great bargains if you travel but this can be seriously time consuming and can also be hampered by language barriers.
People like their shopping to be as easy as possible, which is why they do not mind paying extra for purchasers. This is why importers and exporters are so vital to a local economy.
Importing and exporting is a business that can be easily run from home. You need very little initial capital to start up, just a computer, access to the internet and some common sense. There are some great benefits to working for yourself and even possibly working from home, though we do not need to expound those here.
Networking is key to succeeding in import/export. You need to have a good base of contacts built up in order to effectively move product.
This is even easier online than offline because you can talk to anyone in the world from the comfort of your home via email or Voice over IP. You can browse online stores and advertisements and even make orders on your credit card from the comfort of your own home. You can advertise and sell your products online with ease. In fact, in some trading methods, you can buy and sell without even having to receive or ship the products yourself! As with any business it is of paramount importance to manage your cashflows, keep detailed impeccable records and really provide excellent customer service. An unsatisfied customer will not return and might criticise your service to their friends or even the internet. Something that can be devastating for businesses
You need a business plan before you begin You need to work out what you want to trade, how much you want to sell it for, in what quantities and what manner of money you are looking to make. As well as which countries you want to trade with (if you speak another language, this might help, although English tends to be widely spoken), what method of payments will you use and what about foreign regulations? Research is key to this process. Don not let the preparation put you off! Every business venture needs preparation and you all be thanking yourself when your business takes off.
You need to decide what scale your business is going to run on are you going to work alone, as a partnership or a limited company or something bigger? Are you thinking of starting small and then expanding as time passes?
You need to look into the market and the decide which products you are going to sell. This depends on what your interests are (it is easier to sell something you can rave about!), what you are knowledgeable about and, of course, what is available. If you buy in bulk, you can make good money but make sure it is something you can move at the other end. If you really plan well and make the right contacts, you will be successful and hopefully you can make enough profit to cover your travel expenses and earn a good living too.
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