Asian Crafts
Learn Export Import Business
Tips on Export Import Business- 1
1.The advantages of import export business
2.Freight shipping
3.Managing Import Export Document
4.Business Savvy Advice: Outsource your Shipping
5.outsource your shipping needs
6.How Did I Find A Reliable International Shipping Company
7.Shipping A Vehicle To Europe
8.Jute of Bangladesh and India
The advantages of import export business are:
>> Make Unlimited Profit from Import Export Business
>> Enjoy Adventurous Tour
>> Work freelance
>> Be Your Own Boss by Building an Import Export Business
>> Import Products for Very Cheap Price & Sell for a High Price
>> Enjoy Your Life’s Freedom
>> Know about Many Countries
>> Know about Different Countries People
>> Do Hassle Free Import Export Business
Vegetables, Mushrooms, spice powder, chili powder, dried fish & other agro
based food items would be very profitable import business from a third world
country. You can make a lot of profit by importing products from a third
world country. And it will be also very helpful for building an import
export business. The cause is - they can’t sell their products worldwide for
their lack of enough business help, money & technology. So they sell their
products for a very cheap price. That’s why it will be very profitable to
import products from those countries & also will be helpful to them.
However, there are lots of genuine opportunities that offer better prospects
– big profits, subsidized travel and a good work-from-home lifestyle are
just a few of the benefits you’ll enjoy once your import export business is
up and running. The set-up and operational costs can also be accommodated on
a total shoe string budget. That’s why building an import export business
more pleasant.
How to start an Import Export Business
You will need to contact many different importers and exporters for building
an import export business. In the internet age just about every contact you
need is already online. There are hundreds of free bulletin boards where you
will find export contacts, hot Asian import products, import export business
opportunities. In addition to several specialist websites and import export
trade magazines.
A fair level of attention to detail is required – by keeping your customers
satisfied and providing them with exactly what they request you will be
setting yourself up for building an import export business.
You will need to create a detailed plan to identify your own desired goals
and objectives from your business. What type of products will you trade? In
which countries? What mode of transport will you use to get your goods from
A to B? How will you learn about international trade regulations? What
method of international payment will you use? What foreign regulations must
you be aware of? Again, these are just a sample of the questions you need to
ask for building an import export business. Get some paper and scribble down
everything you could possibly think of.
For building an import export business first you need to ready all your
papers like trade license, TIN (Tax Identification Number), Export or Import
License etc.
Then contact with the sellers or buyers. Know more about their products,
know about them. Ask for sample or visit them.
Contact (Importers) with your local market wholesaler.
Analyze Price
Negotiate with Seller or Buyer
Open (Importers) LC to Bank & send a copy to Seller
Ask (Importers) sellers to send the products or direct bring it to your
country yourself.
So how do you go about finding products for building an import export
business, once all the nuts and bolts are in place? One great way is
actually by traveling around – there are literally millions of products out
there that have the potential to make you a small (or large) fortune once
you import them into your domestic market.
To illustrate my point, last year while on a holiday to India I stumbled
over some delightful glow-up key rings that were being sold for 10 rupees
each (about 40 cents) – instinct had told me there was enormous profit
potential here and upon returning home I found the same key-rings selling
for $7.95 in a popular department store. Do you think it would be possible
to profit from this situation?
Of course it is, and there are countless other opportunities like these
simply waiting to be discovered. It is also possible to cut off your travel
expenses (flights, hotels, dining costs etc) against your profits & building
an import export business, which give you a great chance to travel the world
at a heavily subsidized rate.
There is another country beside India named Bangladesh. I think there have
the most profit potential for building an import export business, what very
few people have discovered. They not only give me high quality ready made
garments for a cheap price, they help me to save my hotel, foods, travel
cost within their country.
I have just stayed my seller’s house. They are very cordial & friendly. I
found there a very high quality shirt in there local market just for $7 what
would be sell in US market at least for $40. What will you say? So if you
buy 5,000 shirts from them & make $3 profit per shirt you will simply make
$15,000 profit.
You can also find ideas for building an import export business through
specialized publications & websites, investigating trade shows and by
browsing national trade statistics (e.g. via the United Nations Yearbook Of
International Trade Statistics). But above all, be alert – when you see
something interesting, ask yourself “can I import this thing in my home
market?”
Now a word about marketing. Whether you like it or not, the long term
success for any product depends to a large degree on the way it is marketed.
Get this right and you could make a lot of cash very quickly by building an
import export business. Get it wrong and you could struggle. Like most
things marketing technique can be acquired and refined but you should come
up with a marketing plan in addition to your general plan.
OK, what we have gone through is just the tip of the iceberg for building an
import export business. A profitable import export business is more possible
than most could envisage but as with any worthwhile venture you will require
some level of persistence and willingness to learn. If you’re willing to put
in the effort the rewards are far greater than you could possible imagine.
Author: John Smith
In general, it's easier for the home-based international trader to make big
money in exports than it is in imports. Exporters usually deal in larger
quantities and/or products that are of higher value. As a result, the profit
potential is greater. In addition, many small-timers are enticed into
importing and end up competing against each other. You are certainly aware
of the companies -- some of whom advertise on television -- who try to lure
you into importing through their "import-export" programs. They tell you
what to buy and where to buy it. As a result, a great many people end up
selling the same little trinkets and charms to the same boutiques.
The simple truth is that importing (and exporting) is not as easy as it's
made to appear. But it isn't rocket science, either. In the case of the
aforementioned training companies, some of the problems are the quality and
cost of the goods. The other problem is finding buyers. Just like in
exporting, the trick in importing is identifying a supplier, finding a buyer
and collecting your profit. And just like in exporting, you'll make a
greater profit if you purchase directly from the manufacturer and sell
directly to the end user. The more middlemen in the picture, the less your
profit. It's that simple. Beyond that, don't buy on speculation (make sure
you have a buyer first) and don't buy if the cost is too high.
Many exporters get into importing while waiting for an exporting deal to
come together. Some of them stay, become import dealers and never leave.
Others deal in both imports and exports and become real international
trading companies. Now let me tell you how many international traders make
money in importing on a small scale, then move into the big time. Get ready
for a surprise.
Flea Markets for Fun and Profit (and testing too!)
That's right, flea markets and also swap meets. They're an easy, inexpensive
and quick way to cash in on importing while testing the attractiveness of
your product in the larger marketplace. You can make hundreds, even
thousands of dollars for a weekend's work. More on that later. First let's
go over a quick and dirty way to find sell-able products at ridiculously low
prices.
First you need to identify the kinds of products you want to import. Think
long term. If you plan to sell sunglasses to a boutique down the road, then
you might want to test sunglasses at your flea market booth. Similarly, if
you want to sell toys to a larger market (very competitive), try selling
toys at your flea market booth first. If you plan on never selling except
through a flea market, then that opens up the range of possibilities to
anything being sold successfully at the flea market. It's always best to
focus on certain types of products such as toys, tools or leather goods.
Stick with products that sell best for small importers. These include
clothing, watches, clocks and electronic equipment, toys and novelty items,
housewares, costume jewelry, auto accessories and sporting goods. These are
good products because they are available for great prices, they don't
require servicing and everybody needs them. Where do you find these items?
You can travel to the country yourself (and deduct the trip from your taxes
-- thousands do!) Or do what I did and contact trade promotion offices of
various countries right here in the U.S. Soon you'll be swimming in catalogs
offering low cost products for import. The other possibility is to find
companies with Internet sites.
If you're in a hurry, you can skip the next step, but I don't recommend it.
That step is ordering samples of the products you've selected. Using the
catalogs you've received, determine which products look best to you. Do this
by comparing the cost of the product with what flea markets are selling them
for (don't forget to factor in shipping and duty costs and a tidy profit for
you). Then write professional letters on your stationery to the
manufacturers and request sample products. Use international money orders to
pay for samples. If the samples are free, suggest the shipment be sent
collect air freight. Yes, you can send emails but your letters are more
likely to stand out in a crowd of correspondence.
Once you've checked out the samples and know they are of good quality,
you're ready to make your first purchase and begin selling. As I stated
earlier, use a variety of similar products in your flea market booth. You
might want to show sunglasses, toys and costume jewelry. Another combination
that works well is leather goods, costume jewelry and accessories. Tools and
auto accessories are another profitable mix.
Flea markets are a great place to test out the attractiveness of imports and
also a place to make a little money while you're doing it. When you're
getting started, make sure to sell a line that is already selling in flea
markets and don't buy more than you expect to sell in 3 or 4 weekends.
Today there are even flea market distributors, wholesalers and vendors who
will sell your product for you if you don't want to do it yourself. It's an
easy and inexpensive way to test out public interest in your product before
you start a larger marketing effort.
Your ultimate goal is to develop a line of related products such as
automobile accessories or housewares or clothing that you can sell to retail
stories, at flea markets or through the mail. By researching the best
products in magazines, flea markets and retail shops you can determine which
products are most likely to sell for you.
Dennis Hessler is the publisher of The Computer User's Guide to Running Your
Own Exporting Company and numerous other books, video tapes, software
packages and The International Trade Connection newsletter which is designed
to show entrepreneurs new to exporting how to get involved in the booming
global market.
Learn more about international trade at his website, http://www.spyglasspoint.com
- You can also download a free sample copy of The International Trade
Connection at the site. If you have questions about any of his products or
international trade in general, e-mail Dennis at Dennis@spyglasspoint.com -
Spyglass Point Productions, P.O. Box 13141, Pensacola, FL 32591 U.S.A.
Article Source: http://EzineArticles.com/?expert=Dennis_Hessler
Thinking of starting an import/export business? Jennifer Henzel, a Certified
Import/Export Trade Professional offers these tips for getting started:
1. Many countries have set up offices (Consulates or Embassies) in foreign
countries to promote the exporting of their goods. The Consulates will
supply you with industry directories and more. Embassies are located in a
nation's capital and Consulates in different cities. In many cases, the
Embassy web site will contain directories and manufacturer lists, as well as
an email link that you can use for sourcing
2. To import goods, communicate with that country's Consulate situated in
your own country. If you are uncertain what products the other country
wants, you can obtain catalogues and lists of manufacturers.
3. Contact your country's taxation department to ask about registration
numbers or other procedures that you must follow. For example, if you are
Canadian, you will require a Registration Number, issued by Canada Customs
and Taxation Agency (CATA). When you inform CCTA of your plans to import or
export, they issue an extension to your business number. This number is used
on all related documents.
4. Find out about licensing requirements, if any. Many countries do not have
licensing requirements for most products. However, if you are importing or
exporting high-risk products (pharmaceuticals, liquor, chemicals, arms,
certain food items and certain articles of apparel), you might need a
license. "I strongly recommend that people start out with low risk items
that can be easily traded and have fewer barriers like giftware and
consumer items," said Henzel. "Certain industries, like dairy, are guarded
by lobby groups in some countries. You will be faced with quotas and
restrictions."
5. Embargoes are trade barriers set up against other countries. Many
countries have embargoes against Cuba, for example. First, contact your own
government to determine whether there are restrictions or embargoes against
the country you are considering. Next, contact that country's Consulate or
Embassy to see if there are restrictions against goods from your country.
6. Participate in the local Boards of Trades (or Chambers of Commerce if
there is no local Board of Trade). In addition to networking, you have
access to research libraries and other resources that will offer good trade
information.
7. Use customs brokers. "Small businesses attempting their own paperwork can
run into delays at borders. If you make a mistake, you can be fined," said
Henzel. "A custom broker's service is well worth the fee you pay."
8. When exporting, understand that there is no one solution to shipping and
customs handling that will work in every situation. Every deal is different.
Each company and each set of products will require a different set of
services, or a combination of services. Engaging the services of a freight
forwarder is one possibility. Freight forwarders arrange shipping and
customs for goods going to other countries. "You have to shop for these
services and do your research," Henzel explained. "Ask a lot of questions.
It's no different than buying a piece of furniture. You shop around first."
9. Be familiar with Incoterms, as posted to the International Chamber of
Commerce Web Site (http://www.iccwbo.org/index_incoterms.asp). Incoterms are
standard trade definitions that dictate the shipping and payment
responsibilities of each party. The two companies involved negotiate
Incoterms for each deal. The best known Incoterms include EXW (Ex works),
FOB (Free on Board), CIF (Cost, Insurance and Freight), DDU (Delivered Duty
Unpaid), and CPT (Carriage Paid To). "You negotiate according to the
Incoterms," Henzel said. "You decide who pays for shipping, who pays for
insurance, etc."
10. Consult your bank for information about Letters of Credit, the most
common form of payment when trading internationally. With a Letter of
Credit, you minimize your risk because the banks assure that the goods are
delivered before the money is exchanged. As an importer, a Letter of Credit
reduces the risk of having to pay in advance for goods, or of paying for
goods that are inconsistent with the product description in the Letter. As
an exporter, you have the buyer's bank's assurance that you will receive
payment provided you ship the goods as specified within an agreed-upon time.
11. Participate in Trade Missions. Consult your Board of Trade or local
Chamber of Commerce to discover what is available.
12. Finally, look to the Web for information about international trade. Many
web sites offer an array of information that you can access for no charge,
including Henzel's site (http://www.importexportcoach.com).
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