Obviously there are a few things you need to know before you can begin making money.
You must fully understand the role of an import agent so you can truly decide if it's what you would like to do.
An import agent acts as a go between, introducing foreign sellers and home based buyers to each other. They never get involved in the buying and selling of gods themselves, so there is no financial outlay or risk involved.
An import agent makes his money in the form of a commission from the seller based on the value of the order and can range from 2.5% to 15% but normally around the 10% mark and as this is based on the gross value of the order before handling and shipping costs are deducted the opportunity to make a sizable commission is there.
Identify the best markets to export from, this will enable you to discover the overseas exporters who are worth dealing with. Look to countries with a weak currency, this makes their exports cheaper and so more attractive to the importer. Look to places such as the Far East, Africa, Asia and Eastern Europe.
Seek out small to medium sized manufacturers who wish to export, but cannot afford to employ an overseas sales force.
Establish links in those countries where you may have friends or family, people who have a working knowledge of the language and the culture and also possibly business minded.
This will afford you your 'Unique Selling Point' needed to become a successful go between with exporters and importers who are not familiar with each others ways and customs.
Take time and choose the right products, don't assume because it is cheap in china that it will automatically sell like hot cakes in the USA.
Go for tried and tested products to begin with, such as, gifts, crafts, furniture and jewelry. Don't get involved with electrical items or toys because the standards in the country of origin may not be up to the same as the country you wish to sell in, and in certain instances you could possibly fall foul of the laws covering such standards.
Start building your contacts, attend International Fairs where you will find exporters who are eager to make contact with agents and importers.
Remember agents receive their commissions from the seller not the buyer so concentrate on manufacturers.
The bottom line with this business is, that once you have established a few solid contacts and manged to introduce sellers to buyers you should if you are running this as a serious business start to make sizable commissions.
This is only the start, repeat sales will follow and if you have done your homework properly then importers may even employ your services to source particular products from countries they haven't previously dealt with.
As with any business, treat it seriously and you can make a very good and interesting living from it, treat it as a toy and you wont.
In the fast growing global markets where no one likes to waste their time, exporters find documentation of their business as a unique problem and time consuming work, which needs more concentration and effort. From accounts to stocks and client reports, statuary files to inventory and billing records - documenting everything is never ending process.
There comes the need of Export Management Software Solutions. A good Export Documentation Software provides help to keep the records and manuals in well organised manner for the future guidance and usage of the export business.
There is a wide range of Export Documentation Software available in the market. Every business has different needs, so the Export Documentation software is customisable for extensive usage of any exporter to increase over all efficiency in terms of output of the business.
Before selecting the Export Documentation Software, one should finalise the key features required for the business. Though it is customisable, one should also look into a bug free and user friendly software package, so that it is understandable to everyone dealing with it. So ‘User friendly’, ‘Bug free’, and ‘Online assistance’ are three most important factors while selecting one good Export Documentation Software.
The Export Management Software Solutions provide a complete package of export documentation and management without exception. As an export business includes a lot of risk, it is more important to manage and document the files during export/import procedures. Export Management Software will be more useful for easy and fast documentation of reports and other things when it matters.
The cost of the software is very competitive. Advisable is to look for software that will serve the purpose of the business, rather than going for cheaper cost products. Buyers should focus on quality and get complete knowledge of the software before buying it, so one will come to know whether the Export Documentation Software is Export Management Software Solutions or just a part of it. Better look for software which fits the requirement of business or has the features which help the business to grow rather than going for unwanted options, which might over look or skip the basic needs.
Both Mike Collins & Smit are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.