When it comes to starting your own import and export business, it’s likely that you’ll have many questions. This is especially true when it comes to figuring out how to bring goods that you want into the states, which may seem complicated and confusing at first. Fortunately you actually have the options which can make the process much easier. These options include:
- Traveling Abroad to Search for Imports
- Give Time for Foreign Manufacturers to Come to You
- Go to Trade Shows
- Contact the Trade Development Offices of Foreign Embassies
- Get in Contact with the U.S. Department of Commerce’s International Trade Administration
- Search Online and in Trade Publications for Leads
Travel Abroad
Traveling abroad has its advantages, especially since you’ll be able to visit a completely new place. However, it may not be completely practical due to the costs, time, and travel that are involved. If you have other commitments or want to save your money, then you may not be able to manage this.
If you are able to travel, you’ll be able to view products from foreign manufacturers in real life rather than just through pictures. This will give you a much better idea of which manufacturers make the best products and if there is a lot of competition with other manufacturers. In addition to this, seeing places in person can give you a new perspective on items that are most popular and may sell better than those you were considering.
If you are searching for goods that will provide you with immediate return, then traveling may be the very best option. However, don’t limit yourself by only searching for products that you want to have imported. If you keep an open mind you may end up finding other items that could make you a profit. If you know what strategy you’re going to use from the very start, this will only help you in the long run and ensure you’re able to seize opportunities as they come along.
Where to Shop
Determining where you’ll travel to is one of the first decisions you’ll have to make. If you are looking for a low price and high volume, then countries like Mexico, India, and China are some of the very best options. These are known for low-cost producers for all types of goods, so they provide opportunities for buyers to save.
It’s important to keep in mind that if you do choose any of these countries, there may be complications that arise because of their emerging economies. If you are willing to work hard and be adventurous, then you can work through these issues and make incredible profits.
Waiting for Manufacturer to Contact You
Many experienced importers are lucky enough to have manufacturers contact them to do business. If you are going to take this route, it’s beneficial because you don’t have to travel to find merchandise and you don’t have to sell yourself to the company. If the manufacturer is the one contacting you, then they already have some interest. However, if you are brand new to the trade and don’t have things set up quite yet, chances of a company contacting you are slim. Fortunately as it does grow and you make new contacts, you may find that manufacturers are more willing to get in contact with you.
Will all calls come from companies with a product they want to export? No. There will be calls from importers looking for a product for you to export to them as well. If you want to fulfill their request, the Thomas Register of American Manufacturers is an excellent resource.
Trade Shows
Going to trade shows can be a lot of fun because you get to meet so many foreign manufacturers at one time! This is one of the best ways to build up your contacts and learn how to get in touch with distributors and representatives from the companies you want to or might work with in the future. These trade shows or fairs are normally set up by foreign governments, which does mean you’ll have to travel abroad.
However, there are some held in the United States where you can attend without having to use a passport. To ensure you go to a good trade show, which can be done by calling embassies and consulates and asking for the trade development office. You can also look online at the International Trade Administration to find trade groups and agencies.
