How to Make Money with Import Export Business
The Import Export is a big business and a great adventure, above all if you love to travel.
I have worked for almost 10 years in this field and there is always something to learn.
There are so many opportunities for doing business in the import export world, that it is impossible to list everything.
The Import/Export is the sector that allows exporting products from your country to another one, or vice versa importing products from abroad to your country.
In the world market, there are no limits on the sale of products or goods, but you should make a careful market analysis, comparing the various currencies used in commercial transactions.
How to Start Your Adventure in Import Export Business
If you do not have any expertise in this sector, you should work for another company at beginning, in order to understand all the procedure of customs, the different shipments, the commercial negotiation, the relationship with customers, etc.
If your goal is to open your own business and import export company, then you need to make a lot of experience before.
Learn at least another language, a part of your first one, is a must.
English is recognized and used everywhere, but it is better to know the language used in the country in which you want to export or import from.
In my experience, working for istance with french people, is impossible with only English. You need to know French, or someone that translate for you. Another example is work with Germany, you need to know German or you will not be able to make any sales.
We need to admit that now working in the import/export is much easier, than time ago.
Thanks to the internet you can search far and wide some websites and marketplaces around the world, but never forget that traveling is where you will find the real deals.
Also shipments are completely different from time ago, think about the costs or the quick way you can delivery something, in relation than few decades ago.
You will need to understand the costs of transportation, the customs and currency exchange.
Some Tips to Succeed in Import Export Business
As mentioned before, before even thinking to open an import/export company, you need to work for someone else for a certain time, until you feel enough confident with this job.
After this, be sure to check the administrative requirements in your country.This also depends on the sector that you want to exercise, if food, clothing, technology, etc. .
A good tip is to open a website, together with your company : this can be an e-commerce, where you list your products if you want to export, or just a website, with the details of your business, if you just want to import.
Having an online presence is very important in business and the site must present itself professionally. Be sure to have a good logo and nice design.
What is crucial, however, is the solid body of knowledge, which must include an excellent command of foreign languages and international marketing, excellent knowledge of computers, the Internet and e-mail programs, and a solid list of contacts with foreign companies that want to boost their markets.
What I Have Learned in Import Export Business
A list of solid tips ( part of what I have learned in years) :
– learn as many languages as you can;
– learn the habits and customs of the country with which you want to work;
– before ship any good, make a contract;
– before each shipment of goods, be sure to be paid in advance, unless you know and you trust the client;
– try to put yourself in the customer’s shoes when he asks for something;
– make as many contacts as you can, both clients and suppliers (also couriers);
– make assistance to customer also after the sale, you will need him in the future ;
– buy low and sell with a margin of at least 40-45%;
– hire personnel only when you get a solid foundation and only when you do not have debts with banks;
– in order to make a “serious sale”, you need to travel and visit the customer;
– it is always good to know the client personally, to establish a lasting relationship,and why not of friendship;
– always be polite to your customers or suppliers, but always be cautious and think about what you’re doing!
Good luck with your new adventure in Import/Export Business !