profitable import business from home with little or no cost

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profitable import business from home with little or no cost

Post by JDCVENTURES on Sat Apr 12, 2008 7:58 am

How to start and operate your own profitable import business from home with little or no cost



Your need is the desire and determination to work. As you progress in the business, many factors become obvious and easy to handle. For example you will need to find a person to handle shipments, called a freight forwarder. And you will need to create solid contacts and strong relationships with reliable suppliers. But after a short time, you can be well on your way to marking a sizeable income-with a very low overhead.

Do you like the idea of running your own business? How would you like a tax deductible tips to foreign place a couple of times a year? The advantages o an importer business are great. The biggest advantage is the money you will make . Once you like a business underway, the commission for setting up sales is very profitable. And after you establish and maintain a number of exclusive accounts, you will find the time you spend is highly rewarded with money. Take a look into the import business. Consider the risks, and consider the advantages. Talk to people in the business. Is it for you?

HOW IT WORKS

Anything that is manufactured outside the country and brought in for sale, is imported.

Although it seems obvious that all manufacturers would want a worldwide market, it is not easy for a company that is limited in its scope and abilities. That’s where you come in. An importer agent is a matchmaker. Manufacturers of domestic goods seek foreign distribution, foreign manufacturers want Nigerian market. You need to find them, make a solid connection, and establish a business relationship with these companies. The agent’s commission is generally about ten percent. Now think of ten percent of N25,000,000 or ten percent of 50 million. Although that may seem like a large order, it wouldn’t be, if you’re talking about machinery, raw materials, or computers.

The market is unlimited and there are hundreds of manufacturers looking for foreign distribution. Sporting goods, clocks, electronic games, radios, housewares, garments, tools – anything can be readily imported if there is a consumer demand and if you can get the products.

THE BASICS

You can start your importer business at home with a telephone. You will need a file system, business cards, and a machine to answer the phone calls. Once you get going, you may get other facilities. And you will need a classy letterhead. Until you establish personal contacts, it is your letterhead that represents you. Make it look professional, possibly embossed or two-color, or gold leafed. Have it printed on light-weight paper for aimail correspondence, but don’t have a mail envelopes printed. You will have a lot of domestic correspondence too.. You can use the email for faster communication.

More than office equipment, you need the determination to make it work.

It will be slow at first, and you will need to plan your moves, make contacts and SELL YOURSELF. But once you make a few sales and sign several exclusive contacts worth money, you will know your dedication was worthwhile.

MAKING CONTACTS

The most important step in setting up your business is finding the contacts. Go online to make instant Contacts. You may have relatives in a foreign country! You may have frequently visited and established business relationship in a country. Or, you might just have a feeling for what will sell where. A person who keeps well-information in the business world can pick up and ride the crest of worldwide trends.

Foreign consulates located in Nigeria have commercial attaches who want to establish outlets in Nigeria, and they’re a good place to start.

Sometimes these consulates can help you find indices of their own import enterprises.

The Nigeria embassies abroad are another place to find contacts for commercial distribution. They can help you find out about a company’s solvency and reputation.

Another way to establish contacts is through the Chambers of commerce of every city you are aiming for. Start small –don’t tackle the world. Which countries have the merchandise you want to import? Find out about the countries, what they have to offer, and what is generally in demand. Then prepare a massive mail campaign.

To every possible contact, write a letter introducing your company, requesting the names and addresses of appropriate films to contact. Ask to have the notice published in the monthly bulletin or posted in an appropriate place.

From the names you get back, write another letter, again introducing yourself, and asking information about their company. You can use a questionnaire, which fill out and invites a response. What goods do they want to import? What products are now imported and how are they distributed? Does the company have a certain territory; does it have sales representatives, branches in other cities? What are the basic details of operation-history, assets and liabilities, plans for growth? Request any information you need, to find out what they will buy and what they have to sell. If the company is a manufacturer, ask for samples or a catalog, the facts and figures of current foreign distribution, and the product demand in their own country.



ANALYZE THE MARKET

Keeping informed. Read everything you can find about world trade. Look at trade publications, international newspaper, news magazines, and financial reports. Who is selling what to whom? Your questionnaires will tell you what further and read the journals published by that country –and many are available in English. Do these publications confirm the desire for certain products?

The Nigerian market for imported products fluctuates with the value of the Naira in comparison to the value of each other country’s currency. And importation price of directly. Can Nigeria’s consumers afford to pay the price of certain goods imported? Or will they?

Finding the right market is as important as the actual particulars of making deals and selling goods. What do you think we sell?

If you do some careful studies and think about the trends, you will be able to come up with hundreds of products to import.
The import business is actually smaller than you might think. There are only a few of these business-that’s why there’s plenty of room for more.

WHERE TO FIND HELP

Establish a good business relationship with a local bank that handles international business. You personal banker will follow through on the actual foreign transactions, and will help keep your credit afloat. In fact, that is one of the best factors about an import business… Aside from office supplies and correspondence, or possible business trips, you need no personal cash outlay. All you needs is good credit and a good reputation.

Your banker is your credit manager and will give you valuable advice and references when you deal with foreign manufacturers and distributors.

Government agencies are distribute continually updated reports on foreign markets, commerce and financing. Become familiar with the market share reports, current laws and regulations, and government promotional facilities.

JDCVENTURES

Number of posts : 19
Location : lagos
Registration date : 2008-02-28

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