Do you need a business plan to start an online import export business at home? If YES, here’s how to start an import export business without investment/money.
If
you are looking for a good way to start a successful business from
nothing and gave fun while doing it, then starting an import business
might be your perfect answer. Aside that this business can accommodate
anyone regardless of the size of their investment capital, it also
offers the prestige of working with suppliers from all over the world.
If
you know the basics of how to start an import export business, you
should endeavor engage in such trade because it is highly lucrative and
profitable. Though it is very competitive business, it is not
complicated.
The
import export business simply involves buying and selling of both
foreign and domestic goods for a profit. The import business is one I
have had a taste of; having played alongside my dad in the importation
of sanitary wares and men’s wear; I can boldly tell you that importation
is a money-making venture.
Why You Should Start your Own Import Export Business
It
is a well known fact today that China is the manufacturing hub of the
world, while countries such as USA, Nigeria, UK, etc imports massively
to supply the need of the population. Using Nigeria as a case study, it
has been established that the local industries cannot meet the demand of
consumers; thus the need to import goods other countries to complement
local production.
In retrospect, Nigeria also have an abundance of
mineral and natural resources; waiting to be exported. In fact, the
importation of goods has never been easier than now; due to the
emergence of the internet. Importers can now meet manufacturers online,
while exporters can also push their products out using the internet as
leverage to find buyers.
So if you are ready to tap into this
golden opportunity, if you like the idea of running your own business,
taking foreign trips a couple of times a year; and most importantly
making lots of money, then read on as I provide you with tips on how to
start an import export business online from the comfort of your home.
Starting an Import Export Business Without Investment
1. Make the DecisionWhy do you want to go into importation or exportation? Are you prepared for the risk involved? Are you prepared to hassle with your manufacturers, agents, freight companies, customs, etc? Are you prepared to meet the stringent product conditions of your foreign buyers?
In fact, are you prepared for the stress of importing and exporting? Are you going to focus on importing or exporting? Do you have the needed entrepreneurial skills to succeed? How are you going to raise fund for the venture? These are questions you need to answer before deciding if the business is for you.
2. Acquire the basic knowledge
After
you have made your decision, the next thing to do is to acquire the
basic knowledge needed to succeed in this business. This is where you
have to inquire about the intricacies of running an import or export
business. You should be knowledgeable about negotiating and selling as
these are two important factors in import and export.
- How it works
An
import business is a matchmaker. Foreign manufacturers want a market in
your country. You need to find these manufacturers, and establish a
solid connection and business relationship with them. The reverse of
this scenario is the export business. In this case, you are the
manufacturer or supplier of raw materials.
There are many
manufacturers looking for foreign distribution. Goods such as sporting
kits, house wares, clocks, electronic games, garments, utensils, and
anything you can think of can be readily imported; if there is a
consumer demand and if you can get the products.
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