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From exotic fashion imports to lamp exports. The international trade business takes you all over the world and into the whole product range.
Starting An Import And Export Business
International trade is one of the hot industries of the new millennium. but not new Think Marco Polo. Think of mighty biblical caravans carrying silk and spices. Think back to prehistoric humans trading shells and salt with distant tribes. Trade occurs because one group or country has certain commodities or goods that are preferred by another group. And as the world becomes more and more technologically advanced. As we subtly and non-subtly change our one-world way of thinking. International trade became more and more rewarding. both in terms of profit and personal satisfaction
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The import isn’t just for the one-on-one adventurers who survive with their cunning and the skin of their teeth. Nowadays it’s big business. $1.2 trillion worth of goods annually According to the US Department of Commerce. Exports are big too. In one year alone, American companies exported $772 billion worth of goods to more than 150 countries overseas, everything from beverages to merchandise – and a long list of other products you might not have thought of. It’s a world-class commodity – fair game for savvy traders. And these products are bought, sold, represented and distributed anywhere in the world on a daily basis.
But import/export fields are not the only scope of affiliated merchants. According to the US Department of Commerce Major exporters account for about 4 percent of all exporters. This means that the other 96 percent of exporters – the lion’s share is small clothing like yours – at least when you’re new.
Why is importing such a big business in the US and around the world? There are many reasons But the three main reasons are:
In addition to packaged goods, countries often export less expensive goods and services. And import goods produced more efficiently than elsewhere. What makes one product cheaper for one country to produce than another? Two factors: resources and technology. For example, a country with extensive oil reserves and refinery technology will export oil but may have to import clothing.
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First of all let’s look at the players. As you have your importer and exporter. There are several variations on the main theme:
You are now familiar with the players. You will have to swim in the trade channels. This is the channel through which the product travels from the producer to the end user. Manufacturers who use middlemen who resell to consumers are rowing through three levels of distribution channels. A middleman can be a merchant who buys goods and resells them. Or it may be an agent who acts as a broker but has no ownership of the product.
Who your fellow swimmers are depends on how you shape your trading niche. but may include the following:
Not everyone can become an international trader. For example, this is not a profession for scammers. If you’re one of those people who’d rather work with a chain than sell Girl Scout cookies, or if you’re thinking of offering them for sale. You don’t want to import/export. This is not a career for corporate challenges. If you’re one of a kind, let the devil handle the details. which has the idea of following up to wait and see what will happen next You should think carefully about international trading.
How To Start An Import/export Business
On the other hand, if you are an active salesperson. It’s a dynamo for tracking things like invoices and receipts. And your idea of heaven is to see that new ideas and new products Where will it lead you? And if it’s the best You like the excitement of connecting with people from different cultures. This is the career for you.
It also helps if you already have an import/export background. Most of the traders we spoke to had industry expertise before launching their own businesses. Peter P., founder of Russian trading company has parted directly from the College of International Business majors to an operating position with an international frozen meat trading company in Atlanta. Which brought him to the right place and the right time.
“I am fluent in both Russian and Ukrainian,” says Peter. “I am of Ukrainian descent. I studied Russian as a minor in college. Initially it was easy grades. Little did I know when I graduated in ’89 that Russia would open up to Westerners soon after.”
According to the US Census, the top 10 countries with which the United States trades (in descending order of imported and exported dollars) are:
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Of course, you don’t have to limit yourself to trade agreements with importers and exporters in these countries — other interesting possibilities exist, such as Caribbean Basin member states and the Ann Treaty. Dien And the new kid in the East, former Soviet Union countries. but as a beginner in the international arena You should familiarize yourself with some of our largest partners and see what they offer. Then take your best photos with them or with another country.
Every business needs consumers for their products and services. To have a long and prosperous life As the Vulcan people eloquently say, Now you know what running an import/export business involves. You need to plan or target your market. and determine who your potential customers will be. What geographic area will you bring? and any specific products or services you will offer to pull them in
This is a very important step in the mega-merchant building project. Proper market research can help turn your trading company into a real profit center. And the more information you research, the more The more prepared you are before the official doors open. The fewer things you are likely to do.
Manufacturers, suppliers, craftsmen, craftsmen, importers, exporters or retailers are fair game. You can follow a company that deals in large construction equipment or delicate jewelry. Gourmet goods or pet food, telecommunication or toys, the only required requirement is that they want to sell or buy someone else’s.
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However, this doesn’t mean your best technique is standing at the manufacturer’s door. Causing them to stumble while walking to the car after work every evening. Targeting, by definition, means going home in a particular group.
If you have experience in a particular area, for example, you should seriously consider targeting that market first. You will feel comfortable with the jargon and procedures. So your sale – and your first sale – will be smoother and easier. additional bonus You may already have a contact in this field. This could become your first customer or introduce you to colleagues in the area.
Dan S. aims at the field of technology. Especially software solutions for commercial use and computer cabling. Just because he has been working in that field for more than 10 years, he knows the field and feels comfortable on it.
Wahib W., too, started in his well-known field: runway and guidance lights. Then proceeded with other international construction projects. Railway and telephone poles were imported. and construction services as well as other heavy equipment
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OK. You’ve narrowed down the list of products you’re targeting. Now you’ll want to search for your niche. A unique perspective that will set your business apart and above the competition. This is where you can let your creativity shine.
You may decide to start as an export management company (EMC, remember?) Search for buyers for domestic manufacturing companies. Or being a trading company for export (ETC), searching for a source in the country that you want to export. Or you may want to stick to Trader Sam’s original formula, import and export yourself as an import/export trader.
In Florida, Lloyd D. has designated his company as both EMC and ETC depending on customer requirements. or his sole distributor/manager for international sales As a provider of marketing and screening services,” Lloyd explains, “and will locate and locate qualified overseas resale buyers and/or distributors/agents, [our] purpose is to Acting as an extension of [our] company’s internal export sales efforts.”
Under the ETC cap, Lloyd said “[My company] operates in a similar fashion as described previously. Except for the reduced parent relationship. And businesses are often operated on a case-by-case or ad-hoc basis. It’s the procurement function for more buyers and sellers.”
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In Germany, Michael R. describes his company’s role this way: “[We are] a global consultant for SMEs (small and medium enterprises) looking to increase sales and profits by using the global marketplace. achieve more.”
Here is a quick overview of your market research tasks. You will need to do an in-depth examination of each of these areas:
One of 22 of doing your own business is what you need.
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