Starting an Import/Export Business

Imports and Exports is one of the rewarding businesses if it is done with sound planning and informed decisions. Imports is a big business around the world because of the availability of some products only in the foreign locations and other countries need to import it, Cachet that carries an image like caviar and champagne and price of products which are cheaper if brought from foreign country

There are various types of Import/Export Businesses including Export Management Company, Export trading company and Import/export merchant.

Starting an Import/Export Business First type is an Export management company that takes care of export operations for a domestic company which lacks the knowledge of selling its product overseas. The EMC takes care of all the operations like marketing and promotions; handling advertising, hiring dealers, distributors and representatives; overseeing marking and packaging; arranging shipping; and even arranging financing sometimes.

Second is an Export trading company identifies the requirements of the foreign buyers and then hunts down domestic sources which would be willing to export. An ETC may work on commission basis or takes title to the goods. The third type is Import/export merchant who buys goods directly from foreign or domestic manufacturer and then do the packing, shipping and reselling the goods on his own.

There are various types of people who can be your target market including any manufacturer, artisan, importer, supplier, crafter, exporter or retailer. You can target companies that trade in heavy construction equipment, delicate Jewellery, telecommunications or toys. Basically, anyone who wants to sell their merchandise or purchase other’s is your target in this business.

Before starting the imports/ exports business, you would like to do market research in the product or service you’ll selling, the end user you are targeting, the countries you’ll export/ import and the trade channel you’ll be using.

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