PEOPLE CALL US SAYING: ” I want to import products to sell here.” This is a good idea. But after you mentally go through the steps in importing, you wonder. For example, when you import items to sell you must:
- Find the product
- Negotiate a price
- Get it shipped to you
- Guide it through customs
- Store it in inventory
- SELL IT!
AND IT'S THE LAST STEP THAT is the tough one. We know a number of people with a “garage full” of digital watches they imported but couldn't sell. You don't want to be in that situation!
BUT WHEN YOU EXPORT YOU HAVE A MUCH BETTER situation. Why? Because in exporting:
- You start with a company that wants what you have
- To sell in its own country to its citizens or companies
- Buying through you on a non-return basis
- Because it knows it can sell what it buys, based on demand
- Paying for the Cost, Insurance and Freight (called CIF)
- With your commission built in as part of the Cost
MORE THAN 160 COUNTRIES AROUND THE WORLD IMPORT items they need. And there are at least 200,000 overseas companies seeking products you might export–from apples to zirconium. To start exporting:
- Decide what products you'd like to export
- Picking those products you know something about
- Looking at the U.S. Department of Commerce data on the need
- Finding suppliers of the products in data at your public library
- Contacting overseas firms wanting these products
- Getting, and quoting prices, for various quantities
- Having a Freight Forwarder arrange shipping
- Being paid through your bank via a Letter of Credit
YES, EXPORTING CAN HELP YOU BUILD YOUR WEALTH, working from home with little more than your telephone and your mailbox. To speed your work, a computer and a fax machine will really help. So start thinking–EXPORT NOW!
Copyright © 2003 by International Wealth Success, Inc. All rights reserved.
Tyler G. Hicks, the president of International Wealth Success Inc., is the author of many wealth building publications, including the Export-Import Success Kit.