Are you looking for ways for how to start an import and export business, then you are at the right place. In this blog post, we are going to discuss how to get into the import export business.
Pick a Product to Import or Export
When it comes to import export, you cannot be all things to all customers. Decide on one thing and stick with it! you choose a product if you know it will sell, or you like the item itself – that’s an ideal business model. Would YOU buy this if someone else was selling in another part of the world? Then you are onto something!
Find the Right Market
Your product is picked, and now it’s time to find a buyer. Get in on the ground floor with trends or spot potential trends for your business breakthrough of a lifetime!
Source a Supplier
Once you have an import or export product in your mind, find out all the information there is to know about it. If you were its maker, how would you improve it? Go to one of their manufacturers and suggest some improvements for your favorite products so that they can be slightly ahead of time – just like Sony Walkman was with Apple iPod!
Price the Product
The import/export business model is based on two critical elements: volume and commission. The goal for this type of company is to price their product so that the commission does not exceed what customers are willing to pay, with healthy profit margins. Typically importers and exporters take a 10% – 15% markup over cost, which means they charge you exactly as much as it costs them when they buy from the manufacturer.
When it comes to marketing your service or product, don’t rely solely on the internet. The best way for you to find customers is by networking and talking with people in person. Networking can be done locally through trade groups, Chambers of Commerce, embassies/trade consulates who offer contact lists specific to your industry, as well as ideas about upcoming international events that might help speed up a connection with potential clients!
Transport Your Products
My next step is to make sure my product gets transported safely and reliably. Yet, I have also already made a deal with an interested customer who loves the idea of buying it from me!
The input was about logistics: transporting products to be sold, yet there were no other creative details or information provided.
Provide Great Global Customer Service
The relationship between your overseas customer and you should not end after a sale is made. If anything, it requires more of your attention.
Start by sincerely thanking the client for their business in person or over Skype, email, phone call, etc., providing them with information on how to get great global service from you!