Starting an import and export business is perfect for those who want to travel the world and make money at the same time. If you have the drive to succeed then importing and exporting goods can make you a small fortune. Shipping is something that every single business needs, but very few people talk about. It’s a necessity that most business owners want someone else to deal with. Take advantage of that fact and you could make your millions. Want to know how to get started? We’ve got everything you need to know.
The Product
What is it you’re going to import and export? You need to find a gap in the market that hasn’t yet been saturated. The amazing thing about this industry is that you can ship pretty much anything. As long as the laws of the country allow you to do so. If you have in-depth knowledge about a particular product, then go down that route. It could be anything from fine art to clothing. Just make sure there is a gap in the market and do some competitor research.
The Supplier
Don’t make more work for yourself by attempting to make the products on your own. Find a supplier who can do the hard work for you. It may take a little bit of research, but it shouldn’t be too hard to find something in your niche. Go and meet with suppliers in your country and find out their charges. You may also want to visit suppliers in other countries, to weigh up the differences. You could find that it’s cheaper to buy outside of your home country. This is where the fun travelling aspect comes in!
The Equipment
You should now have a chosen product and a supplier. Next up, you’re going to need the right tools for the job. If you want to keep costs low, then you’re going to want your own ship to import and export. Especially if you’re planning on moving a lot of goods. Hiring a container or space on another ship can become costly and eat into your profits. To keep the expenditure low, look at second hand ships for sale – NautiSNP.com have some you may wish to consider. You’re also going to need the basics for your new business office. This includes high-speed internet, a work phone, a computer or laptop, and some fancy stationery. Consider investing in a proper filing system as well. A lot of the job is going to be taken up by paperwork, so it’s worth keeping it organised.
The Buyers
You’re now all set to start making some money. This is where you need to get out there and make some new contacts. More travelling! Do some research into who stocks your particular product. Arrange meetings to discuss what it is you have to sell. Even if they stock that exact product already, let them know why yours is better. Are you cheaper? Can you ship in bigger amounts? Do you provide better credit terms? This is going to be the hardest part of the job, but the most rewarding. It also means you get to travel again!
The key to a great import and export business is research. Make sure you know everything there is to know about the industry. Find the best prices for your products and the most hungry buyers. You could be making a profit within months.
