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: 

1.     Import
Export Management Companies operating for a domestic company buying or
selling products overseas whose package includes dealers, distributors,  representatives, advertising, marketing, packaging and shipping;

2.     Import Export Trading Companies that find buyers for merchandise they sell;

3.     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.

 

Please call the Chamber for more information about SCORE or to schedule a meeting at 214.217.8484.

 

In case you missed the other article from this week, please Click Here. Stay tuned next week as we conclude our SCORE article series with “Buying or Selling a Business” and “Capital Sources.”


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