Starting import business and how to sell your imports
Import export is a two-part business. First you find the product to import overseas and then when you got it at the destination country you have to sell it and only then, with the money you make you can go back and do it all over again.
So how will you sell your imports?
Your choice how to sell what you import is going to be either retail or wholesale. When you decide to wholesale you will be selling to other resellers, and they will mark up your price before selling the product to the ultimate consumer.
But as there are many different ways to get started in import export business, retail has many different options too and here are some of them.
If all you are after is to make enough money for your next trip around the world, then selling your imports out of your house is the easiest way. Rather than signing a retail store lease you can organize a neighborhood show in your house and sell direct to your neighbors and friends.
Another way to sell your imports is to sell your imported product at flea markets.
Popular way to sell your imports is selling at the weekend markets, where all you have to do is buy a table for Saturday and Sunday and you can sell direct to the public. City governments, churches, schools and other organizations all sponsor similar events.
You could also buy a street vendors retail license and sell your goods on a sidewalk out of your cart. Similarly, you can rent a cart in a shopping mall, but it will be more expensive and you will have to work more regular hours.
One of the most logical ways selling their imported products is having your own website. Nothing wrong with the idea but keep in mind that it does not matter how good will your website be, and regardless how good your prices will be, you could even give half of it away free, if people won’t be able to find your website you will make no sales. In a way it will same as having a wonderful boutique in the middle of Kansas cornfields – no one will find it!
Needless to say eBay and Craiglist and other similar websites offer yet another possibility to sell your imports, but best do research first who your competition will be and what is their selling price.
Ultimately, many of you will decide to sign a lease on retail space and sell your imports retail out your own store. Perhaps still the classical retail establishment is the way to go but in this day and age more than ever before you will need to make sure you will sell the right product in the right place to the right customer.
Remember, you first need to find out who is your target market, analyze who they are and what they want, and then bring the right product in to sell to them. Not the other way around! Not you open your door for business with the store shelves full only to discover there is no interest in what you sell.