Starting your own export business, The process explained
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by: William
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Word Count: 477
Date: Thu, 14 May 2009 Time: 9:33 PM
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Initial Stage:
i. Select your product
ii. Determine potential buyers
iii. Market research
iv. Exporting method
v. Comprehensive business plan
First you have to select the product; in case you are not already involved in producing or exporting some product locally (even then you may need to improve its quality and features for international export). After choosing the product, you can now assess the targeted customers. Do some research on the market and analyze it carefully. Next step is to decide upon the exporting method. Remember, all of these decisions and selections should be based on some facts and figures, and not mere assumptions. As stated earlier, time spent in planning & research will save you from possible loss and failures in the future. You need to be watchful, alert and patient in the start, so that you don’t fall in hands of frauds and scams.
Middle Stage:
i. Determine Price
ii. Payment terms & conditions
iii. Terms and conditions for delivery and shipment issues
iv. Shipping mode
After you are done with initial research and planning work, you now have a plan in your hands. You know your potential customers by now. Next step is to determine prices, while doing this, keep all costs and expenses in mind, don’t try to take too much risk by offering extra ordinary low prices. Payment terms and the mode of payment is also an important decision, so is the selection of shipment mode you are going to use.
Final Stage:
i. Financing
ii. Production/Manufacturing
iii. Packaging
iv. Shipment
v. Collection of payment through your bank or some payment processor
After all the planning and marketing, you will start receiving orders from interested customers. At this point, you need to have sufficient funds in hands to manufacture or arrange the products you are looking to export. Once you have got the funds, and you are done with the production work, you need to go through packaging and documentation work before making a shipment to the customers.
This is the basic framework for starting an export business, which will help you in starting smoothly and gradually growing.
About the Author
William King is the director of UK Wholesalers & Sports Wholesale Suppliers , Stock Brokers, Futures & Investment Trading Directory , Dubai Property & Real Estate Directory and UK Wholesale Suppliers, Distributors, Dropshippers & Manufacturers . He has 18 years of experience in the marketing and trading industries and has been helping retailers and startups with their product sourcing, promotion, marketing and supply chain requirements.
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