How You Can Start Your Very Own Import/export Business

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Offering good customer service is not a difficult task for an entity that operates within the boundaries of just one country. But for an importer or an exporter, this will be a real uphill task, especially during the initial stages of the venture, where there is very little margin for error. Integrate this aspect with your product offering and think of the entire function as one rather than two because they are both equally important. Keep your buyers happy by constantly checking up on them and clearing any doubts or uncertainties they might have about their relationship with you. Are you an ambitious entrepreneur who is planning on getting involved in an industry that is profitable and adventurous? If so, an international trade venture would be the best option to go for because of several reasons. The open economic system that exists in almost all countries of the world today has opened the doors to a world of opportunities for businessmen of many industries. Through international trade, an enterprise can find better suppliers, gain access to better technology and manpower and reduce the overall operations cost, significantly improve their profits by providing the local customers with commodities that are highly demanded, with a markup that is both healthy and fair. In this article, we will discuss about three things you must keep in mind when starting things off as an importer or an exporter in today’s marketplace.

Supplier sourcing

The commodities that you handle must be of the best quality and they must also be priced at a level that is affordable to the customers. If an importer or an exporter simply sits back and relaxes after finding a supplier and placing orders whenever the need arises, there will be no real improvement in the process. To find the most competitive prices out there, do some research and issue quotations. It is important to be considerate about saving as much as possible because you must have a considerable amount of funds in your hand for freight services and other such services that you must obtain to complete the job. Always provide the supplier with feedback on aspects such as adherence to lead time schedules, quality of the goods, the volume of delivery and the middle parties involved. This will help the business partners customize their operations to better suit your unique needs.

Moving the goods

Moving the goods from one point to another can be termed as freight companies in Tullamarine and this single process can involve several parties who are equally important to the value creation process. As an importer or and exporter, getting this branch of operations well sorted and sourced is vital for your success and the failure to do so will result in the plummeting of profit levels due to inefficiency. As a small entity it wouldn’t make any financial sense to purchase trucks or containers of your own, at least not yet! By relying on third parties who are specialized in BPO (business process outsourcing) projects is the best way to get transportation of cargo done.

Price them right

If you get the pricing part wrong, the entire business will fall out of place and make your job a lot more difficult than it should be. After selecting a product that is well suited for the activity you are going to perform, pay attention to the buying price in the case of imports and the selling price in the case of exports. When setting a markup for the products you have imported, keep it below 20% of the initial price of the units so that the customers will value the quality and the affordability of your products.