Tag: Import

How To Start An Import #new #business #plan

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How To Start An Import/Export Business (Part 1 of 2)

Updated August 07, 2016

So you want to sell to the world? You’ve come to the right place. Thanks to the Internet, setting up an import/export business can be ridiculously simple and very profitable. Here are ways to make it happen.

• Select your business name and set up a website and blog.

Without a website or blog, you can t have a networked import/export business. Get yourself a platform that allows you to develop a presence online and grow your business beyond your wildest imagination.

The goal is to balance the flow of communications, sell products online (or offline) and build your customer base to drive profits for your international business.

But first, remember to register your business name with a reputable web host because your domain name is what customers use to find you and your business. And it can’t hurt to consult with an international lawyer, banker and accountant for advice on establishing a virtual import/export business and keeping it in the best legal and financial position possible.

A couple of places to get started with a website are Network Solutions. Go Daddy. Intuit and Verio. All offer domain name registrations and affordable website hosting packages with easy-to-use site building capabilities.

To create a professional blog, which allows a continuous flow of engaging communications, try Blogger. Typepad or WordPress. These services allow you to create a blog in minutes with stunning designs, reliable hosting and on-demand tech support.

Now you are ready to share your business expertise and capabilities and sell to the world.

• Pick a product to import or export.

When it comes to importing and exporting, you cannot be all things to all customers. Decide on something and stick with it.

You have two viable reasons for choosing a product to import or export: you know it will sell or you like it.

Hopefully, you can meet both criteria. That’s an ideal business model. Would you buy it if you saw it in another part of the world? Then you are on to something!

• Find the right market.

You’ve selected a product, now you must look for someplace to sell it! You will improve your odds of picking a winner if you cultivate a knack for tracking trends, or even spotting potential trends. Getting in on the ground floor and importing or exporting a product before it becomes a super-seller in a country could be the business breakthrough of a lifetime!

Do the homework and research the market beforehand to locate the best potential foreign market for your product or service. Two places to check are The World Bank’s Ease of Doing Business and globalEDGE’s Market Potential Index.

You might also check with local government officials to best determine sources for conducting market research. For example, in the United States, there are the Department of Commerce International Trade Administration’s Data and Analysis and the U.S. Census Bureau Foreign Trade. which governs the reporting of all import/export statistics.

These resources are helpful for determining where in the world products and services are moving to and from, and why and how to get in on the action.

Once you have a likely import or export product in mind, learn everything there is to know about it. If you were its creator, how would you improve it? Go to a manufacturer and suggest product improvements to turn a mediocre product into something slightly ahead of its time. Your suggestions might mean the difference between a Sony Walkman and an Apple iPod.

The easiest access to reputable suppliers might be Alibaba. Global Sources. and Thomas Register. There are others, but these three are considered the holy grail to finding high quality suppliers. manufacturers, exporters, importers, buyers, wholesalers and trade leads.

In continuation to our first installment which covered how to start and map out an import/export business, here we provide the sales and distribution aspects of establishing an import/export business.

The business model for an import/export business is based on two critical elements within the international sales operation.

1. Volume (number of units sold).
2. Commission on that volume.

The goal is to price your product in such a way that your commission (markup on the product to customers) does not exceed what your customer is willing to pay and offers you a healthy profit. Typically, importers and exporters take a 10% to 15% markup over cost, which is the price a manufacturer charges you when you buy a product from them.

The more you sell, the more you make. Keep your product pricing separate from logistics because, at some point, you combine the two to determine a landed price per unit. A good transportation company can assist here. Don’t let this part intimidate you!

Provided you have done a good job with search engine optimization on your blog or website, customers will find you. But don’t rely on it. You should also go hunting for customers! Check with local contacts, such as trade organizations, Chambers of Commerce. embassies and trade consulates. They generally have a good sense of who’s doing what in the international marketplace. They can offer contact lists specific to your industry and also suggest trade shows that are taking place locally and internationally that might help you connect with customers in a faster and more efficient manner.

An excellent service on the exporting end is the U.S. Commercial Service (CS) Gold Key Matching Service. The U.S. CS can help you find potential overseas agents, customers, distributors, sales representatives and business partners.

At the same time, work your social media and networking platforms (your blog, Facebook, LinkedIn and Twitter) by posting information about your product or service and asking specific questions about your audience s needs. This gets the conversation going and keeps it going while making sure it s related to your business. The point is to keep your business on the minds of potential customers worldwide.

• Transport your products.

Your next step is to focus on logistics — transporting the product to where you will be selling it. By now, you have located a customer who loves your product, solidified the terms of the sale with them and established a means for getting paid. Now you must move your product.

Hire a global freight forwarder who serves as an all-round transport agent for moving cargo, typically from a factory door to another warehouse. Their service saves you a lot of time, effort and anxiety for a very reasonable fee. Based on information you provide, they take care of all shipping arrangements, which includes but is not limited to handling documentation, arranging insurance, if requested, and determining necessary licenses, permits, quotas, tariffs and restrictions (country regulations). which can be one of the most complicated aspects of importing/exporting for a newbie international trader.

You can find freight forwarders online under “transportation,” or check listings in trade magazines or other international handbooks. Pick two or three that seem like a good fit for your product or shipping destination.

Two well-known companies that are eager to work with brokers, consultants and small businesses are UPS and Fed Express. Either can also assist with getting paid, a critical part of the international sales process.

• Provide great global customer service!

The relationship between you and your overseas customer shouldn t end when a sale is made. If anything, it requires more of your attention.

Think of your after-sales follow-up on your import/export business as part of your product or service offering. The first step is to say, wholeheartedly — whether in person, via Skype, by email or telephone — Thank you for your business! For more on this, take a look at “How to Provide Great Global Customer Service” .

Congratulations! You have officially learned the fundamentals on how to establish an import/export business. Now start booming and go make the world your business!





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Import Export Business – International Trade Leads – FITA Global Trade Leads #canadian #business #magazine

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FITA is a Corporate Partner of the U.S. Commercial Service

The International Buyers Program recruits thousands of qualified foreign buyers, sales representatives, and business partners to U.S. trade shows each year, giving your exhibitors excellent opportunities to expand business globally. Click here to see a list of all upcoming IBP trade shows.

Department of Commerce Trade Missions offer a proven cost-effective tool for helping U.S. companies learn first-hand about global markets. Click here to see a list of upcoming trade missions.

The National Export Initiative (NEI ) is a multi-year effort to increase U.S. jobs by increasing the number of companies exporting and expanding the number of markets current U.S. companies sell to.

Take note of the following U.S. Commercial Service events:

  • Russia’s WTO Accession, What it Could Mean for Your Business . 02/02/2012 – 02/06/2012. On June 14th the U.S. Commercial Service will offer a webinar on Russia’s Upcoming WTO Accession and Permanent Normal Trade Relations highlighting the implications and opportunities for U.S. Business. This webinar will feature experts on Russia’s market and trade policy from the U.S. Embassy in Moscow as well as from the U.S. Commerce Department’s Market Access & Compliance unit in Washington, D.C. Topics will include, current market conditions in Russia, Russia’s WTO accession, what specific benefits it would bring for US companies, and the status of efforts to establish Permanent, Normal Trade Relations so that U.S. companies can compete on a level playing field in Russia once it becomes a WTO Member. This webinar will take place on June 14 from 11:00 a.m. to 12:00 p.m. EST. The cost to participate in this webinar is $15, payable by credit card. To register please click visit or email Paul Matino .
  • Visit USA RoadShow – Southern Cone – Latin America . 05/14/2012 – 05/18/2012. RoadShow organized by Visit USA Committees and Commercial Services of Chile, Argentina and Uruguay.

Recruit US companies to promote tourism services and promote the United States as a tourism destination.
Contact Diana Brandon

  • Global Gaming Expo Asia 2012 (G2E Asia) . 05/22/2012 – 05/24/2012 Global Gaming Expo Asia (G2E Asia) is the premier trade show and conference for the Asian gaming market. This event highlights the remarkable growth in Asian gaming and gives you access to new products and the latest trends, delivering qualified buyers, and fostering optimal networking in the Eastern hemisphere to ensure you can grow your business in this rapidly growing market. As part of the G2E portfolio of events, G2E Asia is an event by the industry and for the industry and it evolves each year to keep pace with industry demands and the latest industry trends.
    Contact Andrew Wylegala .
  • WINDPOWER 2012 .
    06/03/2012 – 06/06/2012. WINDPOWER 2012 is the world’s largest annual wind energy event. Held June 3-6, 2012, in Atlanta, Georgia, WINDPOWER is produced by the American Wind Energy Association, and is the premier wind energy event in North America. WINDPOWER 2011 hosted over 15,000 attendees, 1,100 exhibitors, and over 2,800 international attendees from 60 countries, the largest number of international attendees coming from Canada, Germany, China, Denmark and Spain. WINDPOWER 2012 will offer more than 60 educational sessions, industry workshops, and showcases new technology and solutions on the expansive show floor.
    Contact Mark Wells .
  • A Basic Guide to Exporting: Financing Your Exports and Getting Paid . 06/13/2012 – 06/13/2012. Learn the basics of trade finance and what you need to know about getting paid for exports. Getting paid for your export sale is easier than ever. Learn from trade finance experts about the range of payment methods used in export transactions and how to evaluate which is best for your business. Learn about letters of credit and U.S. government programs for financing exports including a program that enables buyers to purchase your product or service. View a past program. or join to live to raise your questions. Contact Hector Maldonado .
  • FITA has been appointed to be a Corporate Partner of the U.S. Commercial Service. FITA works with the Commercial Service to keep U.S. exporters and overseas importers informed about the many important services the Service offers. More.

    FITA s Really Useful Sites for Trade Professionals Newsletter
    Each issue features links to websites aimed at professionals in import-export and international trade as well as general interest websites for entertainment and daily life. More.

    FITA s Really Useful Links
    Our Really Useful Sites for International Trade Professionals is an up-to-date online library of over 8,000 websites related to global commerce. More.

    Job Seekers Employers:
    Visit the new FITA CareerHQ
    FITA Career Headquarters is the premier, internationally- focused job board. More.

    Tools for Starting and Running an Import-Export Business
    Resources and links that will help. More .

    Real-time International Trade News
    Click here to read feeds of the latest international trade and international trade finance news.





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