Are you interested in launching an import/export business? As with any startup, there are a lot of things to consider. Ideally, you should have a business background and experience in global finance coupled with international relations. In this guide, we’ll explore a few basic steps to starting an import/export business.
Business Basics
As with any business plan, you’ll want to make sure you grasp the basics needed to develop your brand and obtain clients to build a solid business base.
- Start developing your brand digitally via social media channels such as Facebook, Instagram, and Twitter.
- Register your business with a domain name and obtain all necessary business licenses.
- Develop a business plan strategy.
- Figure out how you’ll manage the rules and regulations of the markets you’ll service.
- Ensure you have ample access to the necessary capital to launch, build, and maintain your business until you start earning a profit.
Pick and Import/Export Product
You’ll need to find a product or industry niche to focus on importing or exporting. Think about what you feel passionately about and also consider what sells well to international markets. If you are still unsure about what products to invest in, then carry out additional research.
Sourcing Suppliers
If you have a product that you want to trade internationally, you’ll want to locate a manufacturer or producer who is willing to make the product. You can form a partnership that ensures long-term success.
You can also function as your own supplier if you have a product in mind and feel confident you can carry out the process in a profitable fashion.
Locate Your Customers
You’ll need to find customers to sell your products to. You’ll also want to focus on the market for your items. You cannot simply send your items to a port and start selling them from the docks. Instead, you’ll need to find distributors and clients who want to sell your items. You can also develop a quality website and launch an eCommerce business.
Focus on Logistics
One of the most complex aspects of owning and operating an import/export business is developing a streamlined logistics plan. You’ll need to move your products either locally or globally in a timely and effective fashion.
The import/export world is extremely complex. Often partnering with a large and respected freight forwarder can prove successful if you are just getting your feet wet in the business. Contact Sobel Network Shipping Co, Inc. to learn more.
