IMPORT EXPORT BUSINESS

IMPORT EXPORT BUSINESS

What Is an Import/Export Business?

For nearly as long as there’s been people, there’s been trade. In the long history of humanity, when we aren’t at war, we’ve been interested in buying and selling various goods from each other. Imports and exports are how the potato came to Ireland, and in a more modern sense it’s how we’re able to buy food, drinks, furniture, clothes, and nearly everything else, from all around the world today.

There’s a very simple but important distinction that trips up high school students and functioning adults alike: The difference between imports and exports. Imports are any good or service brought in from one country to another, while exports are goods and services produced in the home country for sale to other markets. Thus, whether you’re importing or exporting a product (or both) depends on your orientation to the transaction.

The modern system of international trade is a complex web of import/export businesses that handle the sale, distribution, and delivery of goods from one nation to another. There is more than one type of import/export business. You could focus just on importing or just on exporting. You could be a manufacturer’s representative, specializing in a certain industry, or you could be an import/export merchant or agent, which is more of a freelance broker.

Steps On How To Start an Import Export Business from Home

1. Choose your products
2. Create your website
3. Be active online and find partners to work with
4. Take care of the paperwork
5. Establish a shipment method

To start such an import export business from home, you don’t need much regarding resources. A computer connected to the internet and a good English level is all you need to start. English is the most used language when it comes to international trading, and you might have a hard time if you don’t speak it at an intermediate level at least. But even if your English is not so good, there are translation programs to use in your favor.

1. Choose your products

Before paying attention to something else, analyze the type of products that you can trade. If you are planning to trade with African countries, you might have plenty of options to explore. And there are many new products that you can introduce to the African markets as well. You can export almost everything from rice to clothing and even electronics. And local African importers will be happy to help you and even guide you through the process.

Once you identified the products that are in demand in a particular market, you will have to decide if you can trade that product or not, according to your possibilities. If all the research goes well, you will be able to move on to the next step and start developing your business.

Also, keep in mind that when you choose your product, you can consider your long-term activity as well. Will you be able to stick with a certain product for long? Or maybe you should test new ones to introduce into your target market?

These questions can make the difference between a successful business and an unsuccessful one. Plus, when you research for products, you might also discover many import export business ideas to develop your business. It is a good idea to consider the demographics of the country you plan to export goods to. It will help you estimate the number of goods that you can export and how much profit you can make.
Don’t be afraid to upgrade your business to new levels by importing or exporting new products now and then. Stay informed regarding the local demands on different countries and tries your best to supply them with high-quality products. In African countries, local importers will guide you toward what the population needs so it will be easier for you to identify new opportunities.

You can always introduce a new product on the market by testing its potential with samples before exporting or importing a big cargo. Being able to identify new import export opportunities will change the course of your business for the better which is why it is important to follow your instinct as well!

2. Create your website

You can’t exist in the import export type of business if you don’t invest in a well-built website. Your website will be the first impression that you make to potential new customers, and it is crucial to building it in a very attractive way. Luckily, nowadays, you can set up your website by using different platforms. Some of them are even free, or they offer you a free trial to enjoy until you afford to pay for a subscription.

You can even start by building a blog or incorporate a blog section into your website. Whatever you choose, remember that your website has to include contact information and valuable content about your import export business. You can also add a section of testimonials so old customers can leave a review and guide new ones toward your business.

Many new potential clients will make their decision of collaborating with you or not based on your website. So you can easily win or lose clients through it! It should determine you to build a rich website and offer as much information as you find suitable. Any online export-import business should be based on a strong online campaign to support the offers and promote the entire set of products. Investing in some SEO might also help you reach new clients worldwide.

For a good SEO, the content and the keywords you incorporate into your website are very important. Research the most popular keywords in your niche and make them part of your articles. You can also hire an SEO company or a marketing company to make sure this part is covered professionally. And remember that these are details that can bring your import export business to an incredible success!

3. Be active online and find partners to work with

When you want to build an import export business from home, being an active presence online is crucial. Try to access the forums and the portals that can offer you information and guidance on a regular basis. Making new contacts in the import export field is important. And the best way to do that is online, especially if your business is home-based. Online you can also find a lot of export business ideas to apply for your company. The international trading is in a constant change, and if you want to keep up with it, you need to stay involved in it.

According to your type of business, you can join import or export forums and groups to find the information that you need. There are plenty of African importers looking online to find the best exporter to collaborate with. And the business goes the other way around as well: you can find many African exporters looking for foreign importers just like you.

4. Take care of the paperwork

Before you start activating as an importer or as an exporter, you will need to take care of some important documents. First of all, you will need an import export business license to have a functional business. After you register your company with the authorities in your country of residence, ask about specific regulations to start international trading.

These norms can differ from a country to another, and you might also need to check them with the country that you want to develop trade with. For instance, if you want to export goods to an African country, you will have to check the legal requirements to do so. There are also certain types of goods that might require specific paperwork during the import export process. And these goods are also different from one country to another.

A lawyer can help you with the details concerning such legal aspects of your business. But you have to stay alert and informed every time you start trading with a new country and adjust to the new requirements that might exist. The chances are that if you develop an import export business from home, you will be in charge of more than one aspect of it. And while starting a business from home can be achievable, it does come with its challenges.

5. Establish a shipment method

After you have all your paperwork in order and you know what products you want to trade, you will have to focus on the details. The shipment method might not be a constant one for all your trades, but you need to be informed about all the options before making a decision. Some goods are imported or exported better by sea while others are safer by air. Moreover, each country has different import export options.

For instance, most African countries can receive goods both by sea and by air which is great for foreign exporters. To ship different goods to a certain country, you need to have a set of paperwork and certificates as well. Talk with your importer and get familiar with the shipment method that works best for your country of destination. The import export business is a partnership between the importer and the exporter, and it is important to work as a team.

If you neglect the shipment method, this can easily become a problem. And you have to establish your options even before you open your business to be prepared. If you postpone this concern until the last moment, you might not have time to set up all the details and if delays appear it can cost you a lot of funds. Also, make sure to have a section in your budget destined for shipping since this is a sure part of your business.