Are you planning to sell your products to the world? Then the export-import business is the vertical that you should choose for.
As the name suggests import-export is all about importing and selling the products or things to other countries. Export brings a lot of foreign currency in the country and hence most of the countries support the export business and come up with various schemes to support the exporters. Setting up the export business might be a simple process but there are many things that you would need to look for such as documentation, freight people, etc. Here is the list of few essential areas that you should look for.
Choosing the right business name and the website
The first step that you would need to take while setting up any business is to give a name to it. If you are starting with a new export-import business the make sure to choose the name that would go well with the product or the service that you will be provided to the customers. Once you decide on the name make sure to get the right website designed for your business. Website is known as the face of your business especially when you are into imports and exports. Here your customer should get all the information related to your business on the website.
Choosing the right product
You can sell all the products available in the market but it is important to choose the one in which you have expertise. Understand your passion and the level of interest towards a certain product and then enter it into your list. Here you would need to make your mind to sell the products that you like to the customers. You can always think of a customer perspective and ask yourself why would you buy this product from an XYZ company. This will help you to narrow down further on the good products for your company.
Choosing the right market
The next step after choosing the product would be choosing the right market to sell it. Since you will be setting up the export business you would need to focus on selling it in other countries. Hence make sure to do basic market or industry research in that particular country before start tapping the respective market. This would help you to prevent unexpected losses and prepare you to work on the new strategies to tap the new market.
Choosing the right supplier
You have chosen the product and the market. But this is not enough. Though you have a high-demand product and a good market, you won’t be able to put down your feet unless you have a good supplier who can provide you these products. If you are not sure on how to look for genuine suppliers then you can take help from various online resources such as global sources, Alibaba, etc. These business portals would help you to give the list of the suppliers for your products from all over the world. You can find many manufacturers, exporters, importers, wholesalers, and traders listed on those websites.
Choosing the right customers
You have found the product, the market, and the genuine supplier as well. Now the next step would be to choose the right customer who can buy this product. You might have created a website through which your prospective customers would send you the inquiry but make sure to create other sources as well to get the customers for your business. You can increase your presence on the social media platforms where your prospective customers tend to spend time such as LinkedIn or Facebook. You can also enroll yourself in various trade shows and business exhibitions where you can meet your prospective buyers to discuss your business.
Read more:
Planning an Export/Import Business? 5 Must Look Areas
