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Making money in the Importation and Exportation Business
Making money in the Importation and Exportation Business

Making money in the Importation and Exportation Business

The importing and exporting business is a kind of international trade and doesn’t the mention of international trade just scream ‘money’ to you? Basically, imports are those goods that have been manufactured from outside of a country and brought in while imports are those that were made outside of a nation but brought in for sale. Now, to ensure the smoothness of bringing in these goods and sending out those that needs to be, the services of an importer and exporter is best employed. Should you then choose to invest in this part of international trade, you would be doing yourself a lot of good and putting yourself in position to make a lot of cool cash from doing your business. What makes importing and exporting business so appealing?

There are a lot of companies at home here who make products that are popular in the home market but lack international exposure. This is so because they do not have a means to send their wares past the shores of the country they manufacture in or their operation costs do not cover providing this kind of service. Likewise, it is no news that Nigerians have a strong affinity for products manufactured abroad and would love to get their hands on it but since they can’t reach those products, resign to their fates. Now, if you were an importer and exporter, you would be able to fill these needs of the manufacturers wanting to gain exposure abroad and the locals who want some international goods while making your money in the process. Sounds good, doesn’t it? There are three basic ways in which an importer/ exporter can work to gain their money. The first, and most common in some quarters, is a kind of relationship where the company enters an agreement with the importer/ exporter to get their goods abroad after which they get paid for their services. In these kinds of agreement, the payment to the importer/ exporter upon successful delivery is always a ten percent fraction of the total goods sent for sale. Imagine how much you would get to pocket if a big company sends shipments worth tens of millions abroad through you. Although that doesn’t happen every day, a ton of the companies that would also use your service on the regular would keep you in business. Another group of importers and exporters are those that purchase the wares directly from the manufacturer and then send them abroad for sale. While this method ensures that you own all the profits on sales made, it is highly risky in the sense that should sales fail, you will be bearing all the loss by yourself –something that could run you into a lot of debt and out of business if care is not taken.

The last set of importers/ exporters are these that just help to source foreign and domestic buyers for local and international goods respectively. These ones just act as a middleman between the various markets involved and upon finalisation of the deal, get a cut based on agreement. There are however hybrid deals which comprises two or all of the methods described now. To get established in the import and export business, you need to find an area of expertise and stick to it. You might have a strong affinity for cars plus a good background in English and these factors would contribute to you being successful in the car importing and exporting business to a host of English countries. If you are otherwise a fashionista, you might want to try your hands on importing/ exporting of clothing materials in and out of different countries. Write done the skills you possess, analyse each one and check them against every prospect of the business out there to have a great idea of where to start. As time goes on, you will have the flexibility of branching out to other areas of the business but focus is key for initial growth. Networking is also very important in this business. You need to get outthere and start searching for companies that require your kind of service. Arm yourself with a nice presentation that would convince even a company that never felt they needed an importing/ exporting agent for their wares. Slowly and quietly build your clientele till you get to the top of the ladder. Provision of great services is also important as this earns you stunning recommendations which would go a long way in increasing your client base again. Easiest targets are those local manufacturers that want a reach abroad and would be more than willing to have you around. Once you have your client base set, you might now want to go into the business proper. To avoid issues that comes up with shipments, you will be needing a freight forwarder to handle all of your shipments. In a short time, with a list of suppliers that you can rely on, you would have been making a lot from your importing and exporting business with next to nothing initial set-up capital.

To be very successful at the business, you must not be lazy but always up and doing. Take timeout to study current trends in the market and check where the kind of goods you handle are in best demand. This would greatly reduce the chances ofyou sending in a shipment to an area where it would get little or no sales, Risking a loss in investment and worse, loss of a client. There are too many markets in the world for you not to find an international market to suit your needs. Contrary to any opinion that you might have had, there are not enough importing and exporting businesses out there today even with the way international trade has really opened up. This means that there is always space for you and the market just happens to be perfectly set-up for your success.