Import Export on an international level, one of the fastest growing and rapidly changing businesses worldwide, is both demanding and uniquely challenging in regards to stability and growth. In other words, when establishing an import export business you become management, sales force, accountant and authority on legal issues rolled into one entrepreneurial position. You must begin by formulating a detailed "plan of operation." This plan will enable you to then conduct your "due diligence research" in customer base, product resources, cost, purchasing power, competition, marketing, operational expenses, sales, government regulations, licensing and property rights.
While conducting this "due diligence" research before opening or expanding your business, you might consider streamlining operations and expediting a faster monetary return by "outsourcing" some activities to one of the Import Export service type businesses:
- Export Management Companies operating for a domestic company selling products overseas whose package includes dealers, distributors or representatives, advertising, marketing, packaging and shipping;
- Export Trading Companies that find buyers for merchandise they sell;
- Import Export Merchants doing business as free agents buying a variety of products from manufacturers then selling, packing and shipping items to distributors, wholesalers or retailers.
Whether operating the total import export business yourself or outsourcing particular functions, always stay on the "international cutting edge" of consumer needs, developing trends and marketing feasibility. By sharing these future projections with manufacturers in creating new products or re-designing existing ones including packaging and labeling, you will continue to diversify and increase your import export business.
To help you succeed in your Import Export business, SCORE, A Resource Partner of the U.S. Small Business Administration, offers free, confidential one-on-one business counseling with experienced executives plus a day long monthly Workshop for a nominal fee. For the location, phone number and counseling hours of the office nearest you, call our main Dallas SCORE Office at (214) 987-9491