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Starting An Import Business
Solid Resources For Saving Money

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Starting an import business is really a golden opportunity.

This site is loaded with a ton of solid information to guide you when you start import business.

First of all only 4% of all importing is done by the Wall Marts and other big importers of the world. That leaves 96% for the "little guys."

Importing currently is a 2.5 trillion dollar business (U.S. Dept. of Commerce) and is projected to grow by 3% each year. So, this is the right time to jump in by starting an import business.

Starting an Import Business: First Things First

Entrepreneurs are drawn to small import business opportunities mainly for two reasons:

  1. First, they are adventuresome with a vision of traveling in a beat-up truck through the forest and on dusty roads in far off places, (Well, you may or may not do this.) and

  2. Secondly, the financial returns can be quite sizable...really!

The top importing products include, oil, cars, computers & accessories, sporting goods, crafts, jewelry and a host of household items.

The very first thing you should do is to narrow your business focus to the product niche you want to consider.

Do this by collecting product information from the U.S.-based trade promotion offices (find by calling the Consulate offices) of the countries you believe might have manufactures, product catalogs and other database info that will be useful as you begin starting an import business.

Or, you might consider Importing Village Treasures , beautiful handcrafted products from all over the world.

Kathryn Powers, the author, is recognized the world over. Her ebook is as factually complete and simple to follow, as you’ll ever find. This is an excellent, excellent resource.

starting an import business

You just never know, in the import export business, what you'll find.

Picture in your mind the value of the product(s) you want to import, how unique it may be, and what its marketability is likely to be to an identified buyer demographic.

Successfully completing this task vastly improves your chance of business profits.

Specializing in one product group (like household items, quilts, jewelry, crafts, etc.) or in just a few items from a product group will keep you focused on maximizing your return on your investment.

business and marketing plan

The second thing you should consider is developing a Business Plan and a Marketing Plan keyed to your importing niche.

If you don't know where you want to go, it's hard to get there, and get there without wasted time and money.

The above two resources are excellent and provide valuable step-by-step guidance.

Are you planning to sell these items yourself through

your own Internet site, on eBay and/or through distributors?

Next, using the resources you find on the Internet and through your Consulate research, find your potential foreign product sources, identify the actual product(s) and negotiate the price for the product.

Fourth, there are logistics involved in your import business start up.

Logistics means, "What's your plan to physically bring your merchandise into your country?"

Hiring a "customs broker" may be the safest and the least expensive and with the least hassle in navigating government regulations.

Lastly, you’ll need an effective “business” website (not just a website) geared to being found on the Internet.

Most people have a relative or friend build them a website. It may look terrific and you are so proud of it.

However, it probably is not a “business” website and, therefore, never be found.

Almost 99% of all websites are lucky if they are found.

Want proof ?

If your product is not on page 1 or page 2 of a search engine, you are wasting your time and money and the likelihood of your business being a success is vastly diminished.

Thousands of entrepreneurs get their business found on the Internet by following the methodology of Site Build It (SBI). Please explore their site.

Bringing Your Imports to the U. S.

When starting an import business, working with a licensed “Customs Broker” is a necessity, unless you are failure with all the laws and regulations of the U. S. and the country you’re importing from.

A customs broker is a private business that, for a fee, handles dozens of tasks for you:

  • Prepares all documentation and electronic submissions for everyone
    • Hardgoods For Sale

  • Calculation and payment of any taxes, including excises taxes and duties on your imported products

  • Arranges for the shipping terms and finds ‘Freight Forwarders” to expedite the packing and shipping of the products you purchase

The U. S. Customs and Border Protection Department has several publications which may be helpful as you start your own import business.

The Cost of Starting an Import Business

Your import export home based business costs to start import business will be very small initially.

Having $5,000 to $8,000 is a good start, maybe less if your home office is already equipped with a good computer, fax, printer, stationery, desk and a supportive office chair.

You do not need to budget travel expenses if you are not flying to your import country and if you live a short distance from a U. S. port of entry. Otherwise, funds for travel will be needed.

Once you have identified the product(s) you wish to import, the expenses for purchasing these items and the costs of a customs broker and freight forwarder will likely exceed your start up costs.

Speaking about money, one item on your to do list is to establish a good relationship with a bank that does business internationally.

Wire transfers are the usual method of payment to sources overseas.

Letters of Credit are also required in conducting your import business opportunity.

How to Save a Ton of Money when Starting an Import Business

The answer is simple but many entrepreneurs fail to invest a messily couple of hundred dollars to get their import business start up built on a solid footing.

Then, they wonder why mistakes and expenditures keep piling up.

The answer, of course is to pick the brains of others who have been successful in the small business import arena.

There are so many facets in starting an import business that can (and do) go wrong, that an ounce of prevention is truly worth thousands of dollars in returns.

You will learn huge amounts (and save even more) by investing in these “how to” import business experiences other entrepreneurs have had.

Picking these brains can save you significant dollars!

  1. Be a Home-Based Importer/Exporter
  2. Importing Village Treasures
    3.
  3. Insiders Guide to Successful Importing from the Third World
    4.
  4. How to Start an Export and Import Car Business
    5.
  5. Importing for Auctions
    6.
  6. Importing from China with Success
    7.
  7. Starting an Import Export Business
    8.

Other Useful Resources for Starting an Import Business

Additional valuable information for starting an import business may be found at these useful resources:

  1. International Chamber of Commerce
  2. American Importers Association
    3.
  3. The National Customs Brokers & Forwarders Association of America



After reviewing the above resources, you can tell that now is the time for starting an import business..

Thank you for visiting Starting an Import Business.


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