How to Start A Profitable Import Business
An import business is one of the businesses that can give a big profit. But, starting an import business is not that easy because you need quite a big fund. However, it should not inhibit you from starting the business since an import business is a promising one. This kind of business has also been proven to survive during the economic crisis. But before you start and run your own import business, try to follow these steps below so that your business can run successfully.
Product and Market Research
Before you start an import business, you definitely need to know what product that will be sold and who will buy the product. Determine your target market. Whether it is women or men, kids or adults, and so on. Once you have determined your target market, try to do a survey or research to your target market. If you have already determined the product that you will sell, you can ask whether they need the product along with their reason. But if you have not determined the product, you can ask them what they need, why they need the product, and so on.
Find the Best Products to be Imported
The biggest mistake in an import business is not knowing the details about the product that will be sold. So, invest in the best product that you know well. If you do not know anything, of course, learn about the products you are going to sell and find the best version of it.
Sellers with the Best Prices
Once you have found and decided the product you will sell, now it is time for you to find sellers who are brave to give the best and competitive prices. Do not hesitate to find them overseas. Such as you can find import services from Europe, Asia, the US, and so on. But, how can you find that kind of seller? You can use online shop platforms available on the internet. If you want to choose import services from China, you can have price comparison on Alibaba, TaoBao, and many more. By comparing several websites, you will be able to get various information. From the price, product specifications, terms of purchase such as minimum order, and so on.
When you are comparing, you will also be able to find the suitable product to be sold in your country or region. So, find out the best sellers or suppliers, make a list, evaluate the seller online, compare the prices, and check other details. For example, the shipping terms, customer services, professionalism, credibility, track record, and so on.
Online businesses are getting popular in this digital era. Many people prefer to buy items online. So, you can start marketing your imported products online. By marketing your products online, you will be able to save the operational cost. Moreover, it will be easy for you to introduce and market your products to wider markets if you market it online. So, try to use market places available on the internet and create social media to promote your products. There are several platforms available that you can choose according to your business projects.
Joining A Course or Workshop
There are a lot of online courses on the internet that you can join. Those online courses will tell you the steps to start and run an import business. By joining the online courses, you will be able to get real information and experiences from the professionals and experienced ones.
Find out your niche market before importing products that you want to sell. The more focus you have, the bigger the possibility you will succeed. Think about what people are looking for and the products you identify. Whether it is apparel, accessories, shoes, electronics, beauty products, and so on. There are a lot of things that you have to learn and think such as analyzing the market. Make sure the products you want to impor are allowed into your country. Find out what products which are not allowed to be imported in your country.
It is your responsibility as an importer to make sure that the products you import obey various rules and laws applied in your country. In addition, identify the shipping terms applied.
If you are not being clear to your suppliers about the product specifications you need, there is a big chance that you will get something you do not wish for. If you are not being clear to your suppliers, they will make a decision based on cost-saving. So, make sure you know and check the details of the products you want to import. Then, make sure the suppliers confirm every product specification that you want, including the package. You can ask for a sample if necessary.
Do not Showing Distrust to Your Suppliers
International trade is based on mutual trust. If you do not trust your suppliers or vendors, no one will take care of the products you import and no one will help you when something bad happens.
Arrange Your Cargo Transportation
There are a bunch of costs related to shipping, including container fees, packaging, terminal handling, and brokerage fees. To get a complete picture of shipping costs, each of these factors should be calculated. Calculate those factors carefully so that you will not put your import business at loss.
Choose the Best Shipping Partner
The next is choosing the best shipping partner. If you choose the wrong one, it is possible that you will increase the operational cost of your import business. You are able to lose your profit if you choose an unprofessional shipping partner. As you know, shipping is an important thing in export import industries.
Provide Various Services
It will be better if you provide various services so that your customers can choose the one according to their needs and preferences. For example, door to door service. This service means picking up and dropping off the products that the customer ordered. Providing various services will attract more customers.
GES Cargo is one example of a successful import business. This export import company has been handling different kinds of shipping commodities for years. The employees and teams are all professional and experienced. GES Cargo exports and imports items from all countries, including India, Europe, Asia, and the US.