How To Start Export Business From Home

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From importing foreign fashion to exporting lighting fixtures, an international trading business will take you all over the world and across all product niches.

How To Start Export Business From Home

How To Start Export Business From Home

International trade is one of the hottest industries of the new century. But this is nothing new. Think of Marco Polo. Think of the great caravans of biblical times with cargoes of silk and spices. Remember that prehistoric man traded shells and salt with distant tribes. Trade exists because one group or country has a supply of certain goods or commodities that are demanded by another. As the world becomes more technologically advanced, as we move toward a world of ways of thinking in subtle and not-so-subtle ways, international trade becomes ever more rewarding, both in terms of profit and personal satisfaction. It happens.

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Importing isn’t just for lonely, loose adventurers who survive by their wits and the skin of their teeth. It’s big business today, with up to $1.2 trillion in goods a year, according to the U.S. Department of Commerce. Exports are just as large. In just one year, American companies exported $772 billion worth of goods to more than 150 foreign countries. Everything from drinks to dressers and a staggering list of other products you’d never think of, Global Goods is fair game for savvy traders. And these products are bought, sold, represented and distributed somewhere in the world every day.

But the import/export arena isn’t the sole purview of the conglomerate, with the big guys accounting for just 4 percent of all exporters, according to the U.S. Department of Commerce. And that means the other 96 percent of exporters—mostly small outfits like yours—will be there at least when you’re new.

Why is importing so big a business in the US and around the world? There are many reasons for this but three are the main ones:

Countries generally export goods and services that they can produce more cheaply and import goods and services that can be produced more efficiently, excluding specialty goods. What makes a product cheaper for one nation than another? Two factors: resources and technology. For example, a country with large oil reserves and refinery technology will export oil, but may need to import clothing.

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Let’s take a look at the players first. While you have your own importers and exporters, there are many variations on the basic theme:

Now that you’re familiar with the players, you’ll need to navigate the trade channel that moves goods from the producer to the end consumer. A manufacturer who uses an intermediary who resells to a consumer navigates a three-level distribution channel. A middleman can be a merchant who buys goods and resells them, or an agent who acts as an intermediary but does not take ownership of the goods.

Who your fellow swimmers are will depend on how you set up your trading channel, but they can include any of the following:

How To Start Export Business From Home

Not everyone wants to be an international trader. It is not, for example, a hobbyist career in sales. If you’re the type of person who’d rather work in a chain gang than sell Girl Scout cookies, or if you’re nervous about the idea of ​​a sales pitch, you don’t want to be in the import/export business. Nor is it a career for those with organizational problems. If you’re one of those devil-may-care types who wait until you see what happens next, you should think twice about international trade.

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On the other hand, if you are an enthusiastic salesperson, keep track of things like dynamics, invoices and shipping receipts, and your idea is to see where new ideas and new products will take you, and if You also enjoy interacting with people. different cultures, then this career is right for you.

It also helps if you already have import/export knowledge. Many of the entrepreneurs we spoke to knew the industry well before starting their business. Peter P., who founded a Russian trading company, went straight from his college major in international business to an operations position at an international frozen meat trading company in Atlanta, putting him in the right place at the right time. placed

“I speak Russian and Ukrainian from time to time,” says Peter. “I am of Ukrainian descent. I minored in Russian in college, initially as an easy grade. When I graduated in ’89, I had no idea that Russia would soon open up to the West.”

According to the U.S. Census Bureau, the top 10 countries the U.S. trades with (from largest import and export dollars to smallest) are:

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Of course, you don’t have to limit yourself to trade deals with importers and exporters from these countries – there are plenty of other interesting options, including the Caribbean and Andean Pact countries and the new kids in the Eastern Bloc. In former Soviet Union countries. But as a newcomer to the international scene, you should get to know our biggest trading partners and see what they have to offer. Then take your best shot with them or another party.

Every company needs customers for its products and services, as the Vulcans so eloquently put it, to live long and prosper. Now that you know what an import/export business is, you need to plan or target your market and determine who your potential customers will be, which geographic areas you will serve. will receive from, and which specific products or services. I will offer to attract them.

This is a very important phase of the mega trader building project. Proper market research can help turn your dealership into a real profit center, and the more research you do, the better prepared you’ll be before you officially open your doors, and the more likely you’ll fail. The less likely it is to set itself up for .

How To Start Export Business From Home

Any manufacturer, supplier, artisan, craftsman, importer, exporter or retailer is fair game. You can find businesses that sell heavy construction equipment or fine jewelry, fine goods or pet food, telecommunications or toys. The only necessary condition is that they want to sell their goods or buy from a stranger.

Import/export Business Plan

But that doesn’t mean your best technique is to stand in manufacturers’ doorways and grab them every night as they head to their cars after work. Targeting by definition means reaching a specific group.

For example, if you have previous experience in a particular field, you should seriously consider targeting that market first. As you become comfortable with the jargon and methodology, your sales pitch and initial sales will become smoother and easier. As an added bonus, you may already have contacts in the field who can become your first clients or refer you to colleagues in the field.

Dan S. focuses on the technology field – specifically, software solutions for commercial use and computer cables – simply because he has worked in this field for over 10 years. He knows the field and feels comfortable in it.

WebW also began operations in the leading sector of runways and navigation lights, later importing railway and telephone pole equipment and construction services as well as other heavy equipment in other international construction projects. .

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Okay fine. You’ve narrowed down the list of products you’ll target. Now you’ll want to find your niche, a unique angle that will set your business apart from the competition. This is where you can really let your creativity shine.

You can choose to start as an Export Management Company (EMC, remember?) to find buyers for local manufacturing companies or as an Export Trading Company (ETC) to find local sources for exports. Alternatively, you may want to follow the original TraderSam formula by importing and exporting yourself as an import/export trader.

In Florida, Lloyd D. classified his company as both an EMC and an ETC based on the needs of his clients. “[As EMC, we] act as a marketing and selection service provider for the manufacturer or their exclusive distributor/international sales manager,” explains Lloyd, “and resell and/or enable Will seek and locate overseas buyers for distributors/sales representatives.. [Our] objective is to serve as an extension of [our] executive domestic sales efforts for export.

How To Start Export Business From Home

Under his ETC hat, Lloyd says, “[My company] operates much like the one described above, except that the core relationships are weakened, and business is generally conducted on a case-by-case or ad hoc basis. More supply function for buyer and seller.

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In Germany, Michael R. describes his company’s role as follows: “[We] are a global consulting firm for SMEs (small and medium-sized enterprises) to increase their sales and profits by taking better advantage of the available global markets. I want to increase.”

Here’s a quick overview of your market research tasks. You may want to thoroughly study each of the following areas:

One of the main benefits of being a business owner is that you need it.

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