Have you ever wondered how the imported products you are using reach your country? From jackets, mobile phones, DVDs and more, there must be somebody who has made a profitable business out of bringing in all these items from the different countries all over the world. These are profit that comes in because of the need to meet a demand in your country. This presents an excellent opportunity for you to make money. Although the import export business may not be the first thought that comes to mind when you think about home based business, the world’s oldest trade can be a lucrative home business opportunity. To find out if this business is right for you, here are some considerations:
1. See if you can find contacts. Contacts are essential for both getting good products and selling them. Determine if you have enough contacts of suppliers and customers who are the most essential players in this business. The internet provides several sources of information as well as venues for selling products that you can explore.
2. Are you a very detailed person. Going into the import export business requires that you take care of customers and be able to serve their needs.
3. Create a business plan for your import export business. This will be your roadmap on what you want to achieve and how you will be doing it. Some of the questions that need to be taken into consideration are: Will I go full time or part time? Do I need outside help? From which countries should I source from? Should I attend import export training courses or will an import export eBook suffice? If I go into this business, where will I get suppliers and how will I ship the goods? These are just a few questions that you need to take into account when you make your business plan.
4. Decide on whether you want to be a sole trader or if you have partners and need to form a partnership or limited company.
A home-based import export business is lucrative and easy to set up. Being located in the home means that you need very little to start the business and do not need a lot of overhead to keep it running. It oftentimes requires just coordination efforts and building up of relationships with suppliers and distributors. These next steps will get you going on this opportunity.
First, find niche markets for products that may be difficult to find in your country and perhaps other countries. Fill that niche by finding suppliers that can supply you with products for a price that you can comfortably sell with a margin. Then find out what your area and other areas need and fill that need.
Importing and exporting does not necessarily mean just from one country to another, it can also be from one state to another or one city to another.
Do extensive research. It will also help you determine what products will help you corner the market, help you find reputable suppliers, distributors, purchase and selling prices. In short, research will give you all the necessary information and prevent you from making too many mistakes in your import export business.
Profitable import export business is highly possible in a home based environment but it should be combined with diligence in searching for products and market, persistence in finding new opportunities and hard work.