How to Start an Import Export Business
Billions and trillions of dollars change hands each day in the import export industry, so it is no surprise that so many people want to learn how to start an import export business of their own. The fact that it requires very little initial investment to start an import export business makes it an even more attractive endeavor.
What Kind of Import Export Business Should You Start?
There are several different types of import export businesses. Export management companies (EMC) typically specialize in handling all aspects of exporting a variety of products to a selection of overseas buyers. Trading companies (ETC) are very similar but may deal in imports and exports and often purchase their goods to resell to their buyers at a profit. If you’re serious about wanting to start an import export business, an import export agent is the easiest and most cost-efficient way to get your foot in the door.
What Do You Need to Start an Import Export Business?
Getting started as an import export agent is quite simple. You don’t need a college degree or any special licensing or certification, just good organizational skills, ambition, and a willingness to learn. Very little initial capital is needed to start an import export business, making it an excellent opportunity for almost anyone. All you will need to make your first trade transaction is a reliable computer with internet access and a telephone or VoIP service like Skype. A fax machine and a basic filing system will also come in handy.
Choosing a Niche
When you start an import export business, you will need to find a product to sell and a buyer to import it. It sounds easy to start an import export business (and it is), but a lot of research and exploration should be conducted first if you want to build an established business with healthy profit margins. Many import export businesses deal with a specific category of merchandise, such as high-end women’s apparel or outdoor furniture, while others focus on a specific region of the world like the Middle East or China. Usually, it is easier to thoroughly research a market first, and then find a product that fits the market demand.
Making the Trade
As long as you have the necessary equipment and a general idea of the markets and products you will deal in, you can start an import export business with a small amount of effort and virtually no money. Create a sales pitch to win over your suppliers, as well as your buyers, and start making your connections. Once you find an eager product manufacturer and a willing buyer to purchase the goods, you can make arrangements to have the merchandise shipped and transferred, and then collect your share of the profits.
It’s Easy to Start an Import Export Business
It isn’t difficult to start an import export business and the profit potential is extremely appealing. There are several resources available that can steer you in the right direction. Coaches and training courses are one of the most affordable and effective ways to start an import export business that grows and prospers.