What You Need to Start an Import/Export Business
Trade has been happening since the beginning of humanity. We trade for things that we need and desire daily—it is a part of being human. The modern system of international trade is a complex web of importing and exporting goods. Import/export businesses handle the sale, distribution, and delivery of goods from one country to another. If you want to be a player on the global stage, then here’s what you need to start an import/export business.
Handle the Business Basics
First, you will need to set up the business and all that entails. That means finding and designing an office space. If this intense process is not for you, bring in professionals to handle it for you. Apply for a business license, register your business with the state, get phones, and hire employees. Register your company domain name, set up social media accounts, set up a website, and start marketing. All the things that go into starting any business should be done first.
Find a Product
A product is the most important thing you need to start an import/export business. Find a product that you are passionate about, use, and believe in; also, make sure that you can sell it internationally. Selling a product that you love and trust makes it an easy sell. You already know a lot about the product and have an idea about the demographic that wants it.
Once you have a product you want to export or import, you need to find a supplier. Build a strong partnership with them and make deals to get the product at a bulk price. There are many international web sites that you can source products from.
Identify the Customer Base
Before you can market and sell your product, you must find customers. Do market research and find out who wants your product and where they are. You sourced a product you like, so perhaps you are the demographic. Marketing tools have come a long way in the last ten years, so utilize internet marketing strategies. Internet marketing and SEO techniques can get your name and brand out there.
Plan the Logistics
To bring your product to the marketplace, you’ll need to plan how you are going to ship it. The size and amount of your product will determine how you ship it. Full truckload might be the best option when bringing it in from the port to the distribution center. From there, utilize LTL, small package services, or the post office. Study your product and start sourcing local and global shipping companies.