How To Start an Import/Export Business

International Shipment Release Import Technology has dramatically changed the business environment, and the internet has opened up a whole new world of business, creating exciting opportunities for anyone who wants to start their own export business. When it comes to international trade, sites like Amazon and Shopify offer you a platform to sell your products to people around the world, no matter where you live.

Having your own business is a big deal because it gives you the opportunity to have no one to turn to, set your own hours, and if you plan and do hard work, you can prepare your business for longer. to run successfully.

There is really no limit to what you can achieve if you use smarts for your business and your imagination. There are inspiring entrepreneurs like Dylan Frost, who started with a credit card with a limited amount of $ 600 that he used to buy licenses for Walmart to sell in the Amazon. He had a knack for finding vacancies in the market for unprofitable products, and he described that as a multimillion-dollar business.

Whether you have a clear niche in mind or have just embarked on a potential research, these steps will ensure that your new business is well-researched, properly registered and compliant with the law.

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1. Get the basics in order

This means registering your business, registering a domain name, and obtaining any business licenses you need to operate legally. An accountant can advise you on startup papers and tax compliance. You can also contact government agencies if you have questions about getting everything right.

The following is a list of suggested foundations to get started with:

  • A computer system with modem and printer / copy
  • Internet / email service
  • Software
  • Phone
  • Stationery and office supplies
  • Posting
  • Travel costs to do market research in an outdoor area

2. Have a business plan

This may sound scary, but whether it is a rare or sensitive letter that a lawyer is helping you to compile, a business plan helps you focus because it will serve as your guide. It not only understands you as you grow your business, but it also shows lenders, investors, or potential partners that you are committed and strategic. The business plan of your export business should also cover the rules and regulations of the markets in which you want to operate. international shipment release import.

3. Create a great website!

If your website is clean, modern and easily navigates it will help you attract business. Remember, it should always be updated to show the list, and any issues affecting shipping (new rules, trade agreements, etc.) Be sure to book our BorderBuddy blogs that cover everything from CUSMA, COVID-19, to other international trends which you should follow. .

International business is based on trust, so make sure your website conveys trust. Always do business in a transparent manner – your company, products, and customer service all have to be accessible. Evidence goes a long way in ensuring honesty and good reputation. Good photography is essential.

Prepare a cell phone!

More searches are now being done on mobile phones than desktops, and this will only increase in the coming years. Google is “the best” – it supports its rankings based on your mobile site rather than the desktop site. You are expected to use the mobile phone and broadcast it immediately to mobile users.

Slow loading times, whether on mobile or desktop, affect both your conversion rate and your Google rates. Page speed is one of the factors Google looks for when determining which pages are listed in a particular term, especially mobile ones.

4. What are you buying/selling? Research markets

Research the products, the markets, and verify your competition with certainty. Be smart in searching for potential market opportunities. If your market share is full, check out the different options.

If you have a product, check the market, check the region before you enter to ensure your chances of successful competition. If your product is above quality, what makes it different from less expensive? Is it made of rare materials, does it produce a high effect? How do you know if people will pay more for it? Do research.

There is an app for that!

There are some great hacks out there that handle the heavy lifting of big data analysis. There are tools you can access that will tell you your import history of your competitors and your supplier’s export history. As of March 2019, Jungle Scout now offers exactly the same information as the competing software Enter Genius or Panjiva but for only $ 39 / month. You can simply enter the name of the research supplier or competitor and you will be given back all the latest import / export activity for that company. Does it sound like a cheating sheet? It is what it is!

5. Find your customers

Entering the market is not the same as finding your customers. You will need to find distributors and customers who will take your product and sell it to others. Having a good website, as mentioned earlier, will help you attract business. But once you start, you might consider doing some footwork and making a phone call. For example, if you have specialized organic foods, you can call the local branch of the organic grocery chain to see if you can pass a sample. Ask if they will agree to try it. Be smart and target certain “access” clients. If they say no, move on to the next one. As the saying goes: nothing has happened, nothing has been achieved.international shipment release import.

6. Creative ways to enter the market

If you want to stop your distribution abroad, you have three main options: direct marketing, online marketing, or distributors. Is your product unique enough?

Find Your Providers

Unless you are selling the product you are producing, having strong relationships with suppliers is all about export work. Can your product be produced locally? If you are making it manufactured outside Canada, have you checked the supplier’s reputation? Can they control the volume of the product you are going to send?

Asking the right questions will save a lot of stress on the road. Do not just ask the supplier, ask people who have used that provider again.

If you are importing goods from China, check out our blog 8 of the Best Products You Can Import From China.

7. Price your product competitively

If you have a product and direct your market, you need to find the prices. This is where volume considerations will work. You want to make sure you keep the price of your goods high enough so that your brand does not exceed what the customer is willing to pay. But you also do not want to make the price so low that you will not make a profit. When ordering quantities and shipping in bulk, it may make sense to set a price too high for the product, since if you sell that product in large quantities you can absorb a little mark.

8. Get the logistics down

Perhaps the most complicated aspect of importing and exporting is how to take a product made from one place and sell it elsewhere. How will your goods take the journey from source to customer? This requires a great deal of cooperation. You may want to use a carrier that reaches shipping companies. international shipment release import

BorderBuddy creates import and export solutions for any size business. We specialize in making the process smoother for you – managing paperwork and all the processes to focus on growing your company. We love to support small businesses, and are proud of all the success stories we have been a part of. Call us and let us help you create a unique and thriving export business today.

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