Importing Is More Difficult Than Exporting.
But you can build wealth in importing if you follow some simple rules. These rules are:
- Import specialty items instead of mass-produced products. Why? Because there’s less competition when you sell specialty items in your home market.
- Import higher-priced items instead of low-priced items. Why? Because you’ll earn more on each sale of a high-priced product, increasing your income.
- Import items you can sell to the business market, instead of the consumer market. Why? Because you’ll have surer sales results when you deal with business customers, as compared with “the person in the street.”
- Import items for which you have an exclusive market. Why? Because you’ll have less competition and customers will beat a path to your door to buy from you.
Here’s a Real-Life Example of this Strategy for Importing.
It works wonders for this importer. This BWB (Beginning Wealth Builder):
- Imports large, hand-made sailing ship models of famous ships from overseas. They are Specialty Items because they are large, they are hand-made and they appeal to many different business customers. A typical model is 3-feet long, 2-feet high.
- These sailing-ship models of famous vessels, such as the Constitution, Nelson’s flagship, the Victory, the Coast Guard Training Ship, the Eagle, the Bounty, of the famous mutiny, the Clipper Ship Cutty Sark, etc., are well-known to business customers. You don’t have to explain the ship’s history!
- Hotels, motels, restaurants, business offices and similar groups order these models in quantities of 50, 75, and 100 at a time. Since the models are priced at several hundred to a few thousand dollars each, the sales generate significant revenue for the importer. And when a business orders a group of models they stay with the order, and do not change their mind on a whim, such as consumers might do. Business Purchasing Agents know what they want and are ready to pay for it!
- This importer has exclusive rights to these models. Hence, he has little, or no, competition. When a business needs decorative sailing-ship models they come to him for them.
Use these tips for your importing and you’ll find that your business will grow, and prosper, along with your bank account!
Copyright © 2004 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 Import-Export Riches Kit.