|
|
How to Start a Profitable
Import Export Business
1 - 2 - 3
"In this global economy, import and export services are needed more than ever." Bookmark This Page How to Start an Import Export Business
Get a look inside the Import-Export industry with Expert Timothy Smith. He has put together a complete business guide showing you exactly how to get started and succeed in the import-export business, using insider tips.
No, this is not a turn-key opportunity - but imagine being a Business Owner in the prestigious and exciting field of import-export, running a company that you truly enjoy - that's what Timothy Smith can help you do.
Why this is our Top Pick? See what you get >>
- Learn all you need to know about laws, regulations, customs, contracts and more
- Step-by-step formula for perfect pricing, a simple way to attract new customers and how to grow your business with paying for advertising
- How to form strategic relationships and greatly reduce your workload while expanding your business
- If you've got doubts or concerns about entering the import-export business, check out Timothy Smith's guide risk free, and then make an educated decision about whether import-export is for you.
- Click here >> Start an Import Export Business (Includes Free Mini-Course: 5 Secrets to Creating a Profitable Import Export Business)
- Need to Get Clients?
Don't worry! Marketing Expert David Frey shows you how. I used his advice to get my own clients Click Here
T I P : World's Largest Database of eCommerce Wholesalers
Find out what products sell best and where to get them. Easy one-stop resource for people selling worldwide. (And they dropship too!)
Import-Export Business Resources
Browse By Topic:
Apparel
Body Jewelry
Closeouts
Clothing
Dollar Store Items
Dropshippers
DVD
General MerchandiseGifts
Handbags
Jewelry
Knives
Novelties
Products
Sunglasses
WholesaleA Dozen Tips for Starting an Import/Export Business
Thinking of starting an import/export business? Jennifer Henzel, a Certified Import/Export Trade Professional offers these tips for getting started:
- Many countries have set up offices (Consulates or Embassies) in foreign countries to promote the exporting of their goods. The Consulates will supply you with industry directories and more. Embassies are located in a nation's capital and Consulates in different cities. In many cases, the Embassy web site will contain directories and manufacturer lists, as well as an email link that you can use for sourcing
- To import goods, communicate with that country's Consulate situated in your own country. If you are uncertain what products the other country wants, you can obtain catalogues and lists of manufacturers.
- Contact your country's taxation department to ask about registration numbers or other procedures that you must follow. For example, if you are Canadian, you will require a Registration Number, issued by Canada Customs and Taxation Agency (CATA). When you inform CCTA of your plans to import or export, they issue an extension to your business number. This number is used on all related documents.
- Find out about licensing requirements, if any. Many countries do not have licensing requirements for most products. However, if you are importing or exporting high-risk products (pharmaceuticals, liquor, chemicals, arms, certain food items and certain articles of apparel), you might need a license. "I strongly recommend that people start out with low risk items that can be easily traded and have fewer barriers� like giftware and consumer items," said Henzel. "Certain industries, like dairy, are guarded by lobby groups in some countries. You will be faced with quotas and restrictions."
- Embargoes are trade barriers set up against other countries. Many countries have embargoes against Cuba, for example. First, contact your own government to determine whether there are restrictions or embargoes against the country you are considering. Next, contact that country's Consulate or Embassy to see if there are restrictions against goods from your country.
- Participate in the local Boards of Trades (or Chambers of Commerce if there is no local Board of Trade). In addition to networking, you have access to research libraries and other resources that will offer good trade information.
- Use customs brokers. "Small businesses attempting their own paperwork can run into delays at borders. If you make a mistake, you can be fined," said Henzel. "A custom broker's service is well worth the fee you pay."
- When exporting, understand that there is no one solution to shipping and customs handling that will work in every situation. Every deal is different. Each company and each set of products will require a different set of services, or a combination of services. Engaging the services of a freight forwarder is one possibility. Freight forwarders arrange shipping and customs for goods going to other countries. "You have to shop for these services and do your research," Henzel explained. "Ask a lot of questions. It's no different than buying a piece of furniture. You shop around first."
- Be familiar with Incoterms, as posted to the International Chamber of Commerce Web Site (http://www.iccwbo.org/index_incoterms.asp). Incoterms are standard trade definitions that dictate the shipping and payment responsibilities of each party. The two companies involved negotiate Incoterms for each deal. The best known Incoterms include EXW (Ex works), FOB (Free on Board), CIF (Cost, Insurance and Freight), DDU (Delivered Duty Unpaid), and CPT (Carriage Paid To). "You negotiate according to the Incoterms," Henzel said. "You decide who pays for shipping, who pays for insurance, etc."
- Consult your bank for information about Letters of Credit, the most common form of payment when trading internationally. With a Letter of Credit, you minimize your risk because the banks assure that the goods are delivered before the money is exchanged. As an importer, a Letter of Credit reduces the risk of having to pay in advance for goods, or of paying for goods that are inconsistent with the product description in the Letter. As an exporter, you have the buyer's bank's assurance that you will receive payment provided you ship the goods as specified within an agreed-upon time.
- Participate in Trade Missions. Consult your Board of Trade or local Chamber of Commerce to discover what is available.
- Finally, look to the Web for information about international trade. Many web sites offer an array of information that you can access for no charge, including Henzel's site (www.importexportcoach.com).
About The Author: How to Write Business Plans, Business Proposals, JV Contracts, Human Resource Package, More! No-cost ebook "Beginners Guide to Ecommerce". Business Writing by Nightcats Multimedia Productions http://www.nightcats.com
Before You Invest $1000's in Advertising, Do Yourself a Favor
Take the guesswork out of finding customers by picking up the best marketing guide I've found. You'll find out free and extremely low cost ways to attract new clients to your business with very little effort - saving you tons of money.
Respected Small Business Marketing Expert David Frey shows you how to implement these strategies right away, for immediate profit. Find out how >> The Ultimate Small Business Marketing Resource
Selling Made Easy! Sales Letter Templates & Instant Marketing Toolbox More Ways You can Save Time & Money:
- Save Money on Your Taxes
Don't underestimate the power of tax knowledge! Small business changes can effect your profit in great ways. Discover over 20 deductions you can take for your business and how to save money getting your taxes done.
- Incorporate Your Business in 3 Easy Steps
Are you better off forming a C Corporation, or would you be better off in an LLC or Partnership business? Find out here which one will maximize your business profits and how you can get started easily online.
- Avoid Legal Fees with Do-it-Yourself Small Business Legal Forms
You want to avoid problems and protect your business at minimal cost. These standardized legal documents can help you do that with buy/sell/rent contracts, hiring forms, borrowing and lending paperwork and much more (over 60 legal forms WITH Instructions!) Think of all the money you'll save.
- Free Business Insurance Quotes
Do you need business insurance? As you may already know, anything can happen in business, and you don't want to find yourself unprotected. Find out exactly what kind of benefits you can get with a free quote before you make a decision, you may be surprised at the price!
Copyright 1997- Home Business Center, Inc.
privacy policy
