In today’s world of globalization, import business is the business of the day. It is an every expanding field of business. People with little money and sound knowledge of business can go into import business, either on their own or choosing the franchise for sale.
There are two aspects of any business, import business too – buying and selling. Buying would involve identifying the right product, making sure of the feasibility by doing researches, identifying the exporters in other countries, making sure of the export import regulations in both countries, working out a deal with the company you want to import from and getting the goods in. Both aspects of the business are equally important. However, the selling aspect of any business is always a notch above the buying.
After you bring in your goods, you have to follow several trade leads to decide on the way you want to sell your wares. If you already have a local dealer who can take care of the selling, it is always better. It can reduce your distribution and marketing costs, and your potential makes base may also increase in a short time.
However, that would mean sharing the profit margin with the company. To go with an established distributor, you can also do a research to find one that will give you larger profit percentage. You can also advertise to select a dealer that works for you. Once you find a distributor, make sure that they can process consistent sales of product for you. Once you throw the product in the market, it should be always available for the consumers to buy. Make sure of the payment track record of the company you want to deal with because if the product stops going to market in the middle of you stock, it will be difficult to revive the market. It is therefore important to select a reputed company.
Overall, if you are starting in the import business, it is advisable to start steadily and go through a distributing company in the beginning. Later, when you have enough reading of the market, you can star distributing and marketing yourself.
You can also choose to sell the products yourself to the wholesaler or even retail it. That will give you larger profit even it means investing a little more and managing a few more people. E-commerce these days is the in thing. You can also set up your own web site and start selling from it. While choosing to e-market your import products, you can also choose e-commerce sites of other companies. There are hundreds of general e-stores that sell a host of consumer and specialized goods. These sites have established network and a ready market base. Therefore going through them wan also give you a head start.
Whatever mechanism you choose to sell your products in your import business, being first always has an advantage. If you are the first one to import a certain product, for example, you can set you own selling price for it because there will be no competition. Setting up a new market when you are a first one however does have its challenges too. But the reward out does the limitations if you play it well.