You may be wondering how you can get into the import and export business. It's a good question to ask, as it is not an easy industry to enter. To start out, there are three things you need to do: 1) find a product that has enough demand for both domestically and internationally; 2) find suppliers who will work with your company; 3) land distribution agreements with retailers or distributors at home and abroad. If you want more information on how to get started in this business, read our blog post today!
How do I get into the Import Export Business?
Start by looking for goods that will sell well domestically and abroad. If you want to get into this industry, you're going to need to find the right product; otherwise it could flop. Some products that may work are: baby formula, medical supplies or equipment, food items/ingredients (particularly those difficult to find locally), electronics, clothing items, and coffee beans. Take a look at market research reports to see what type of products are in demand in your home country and abroad.
Finding suppliers who will work with you can be difficult, as most suppliers don't know how to handle the import/export process. They may not have people on staff who can help you, or they may not have the time to take on additional business. You will need to convince them that working with you is worth their time and energy by showing them examples of what you can bring in, such as market reports. Some ways you could find suppliers are: searching the internet, calling potential candidates and asking for referrals, or visiting one of the many trade shows held around the world.
Distribution channels are crucial to your success as an importer/exporter. You will need to find retailers or distributors at home and abroad who are willing to work with you, as well as other people in the industry who can help (i.e.: freight forwarders). Take a look at other companies in the industry, as well as trade publications to find people who can help you. Some other strategies include: contacting your local Chamber of Commerce, attending trade shows and conventions around the world, or using social media sites like Twitter and Facebook.
When you have found suppliers, retailers or distributors, landed distribution agreements with them, and finally, the right product that has demand domestically and internationally, you will then be able to get into the import/export business! However, this still does not mean that your company will succeed. You should also look at hiring employees for your office who are experienced in the industry to ensure that your company runs smoothly, as well as negotiate with other companies for warehousing. If you do all of this, you should certainly be successful in starting an import/export business!finish article