West Entrepreneur Forum / Business Ideas / Import/ Export / How To Start Lucrative Import/export Business (1213 Views)
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Have you ever paused for a moment to consider how that favorite brand of your laptop that is manufactured in Hungary or that smartphone from South Korea enters the country at all? You might have even been wondering how it is that these shops seem to have a ready and big supply of American and British wears and why they would go to so much trouble to get them from abroad and bring them into the country.
Well, let us give you a hint at how these people are making these services possible and why they are doing it in the first place – they get in their products by importing and they do this because the business of importing and exporting is very lucrative.
You might not have given this business idea much thought in the past or believed that it is either something for the vastly experienced or the very rich investors. Let us allay your fears by telling you now that the import and export business requires only a little knowledge and can be started with very little or even no capital. Follow us through the steps below and have your own profitable business in a very short time.
Read Also: Export Business-the Complete Guide To Start An Export Business
1. Setting Out:
As earlier stated, importing and exporting business requires very little capital to start in the first place. You could rent out a small office, to begin with, or even start at home. All you need do is just have a stable telephone line and some business cards. A website is also a fast and easy way to get your services out there and to finally add a feel of personal touch to the business, look to creating a great logo to go with your brand and always represent you.
Reab Also: 5 Things You Should Know About Exportation
3. Study the Market:
This is where you should concentrate more on if you are to get the highest returns possible on your goods. Check tabloids, news and trade trends and determine what markets your kind of wares would thrive the best in. You do not want to send a container of goods to a market where it would lie dormant for a year but one where fast sales are guaranteed.
Once you have identified the kinds of goods you want to import/ export, make connections with foreign representatives of different companies and maintain a great relationship with them.
The sales of your product would be on a pre-agreement basis. You need to have signed a contract with a company that is looking for your kind of service and you must have already known how much they wish to pay for your wares beforehand, among other stuff in the contract. The deal is simple – just deliver to them, and smile all the way to the bank. The importing and exporting business is as old as time itself with the nature of human interdependence and it is just bound to grow in leaps and bounds. Why don’t you put on your investor’s hat and get into the market today also?
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