3 Things To Keep In Mind When Importing For Resale
“Global Village” is the term used today to describe the current business world as it has become boundless and ever-growing. International trade is the transfer of goods and money between two or more countries and this has given businesses the opportunity of broadening their scope while also enhancing their capabilities as a corporate body. If you are thinking of starting an enterprise that is focused on the selling of products imported form a foreign supplier, then this article is for you. If you are under the impression that the importing process is such that you can rest easy after making the call to the supplier until the goods safely arrive at your doorstep, then you are sadly mistaken. There is a lot more to it and often times small and medium scale businesses flop soon after their entry into the field because the complexity of the industry. In this article we will look into 3 important things you must keep in mind when importing for resale in your own country.
The last thing you want as a business is to end up with an unsold pile of products because of the lack of demand in your local market for what you are offering. This is why it is crucial to perform a comprehensive market research to identify and understand the forces that control and affect the demand level of the market. In addition to that, consider the layout of the country and how effectively you can distribute the products to the intended destinations and the pertaining logistics Derrimut aspects. Consider the level of competition in the business environment as well so that you will know the exact level of risk you are exposing yourself to.
A reliable shipping party
As a relatively new player in the industry, the technicality and the complex nature of operations can easily bring you down as entrepreneur, making it difficult for you to push through. This is why you must spend enough time to analyze the supplier nation and evaluate several reputed, reliable and responsible suppliers. Based on the prices offered and the provision of integrated services, you can make your final decision. A shipper who takes care of the freight services, inland transportation (in the shipper’s country), and the custom clearance aspects of the import are great parties to do business with as they take away most of the responsibilities form us and make life much easier for us.
For the import of certain commodities to certain countries an import license is required and the failure to comply to these regulations will result in the imposition of huge penalties, which is too much for a small company such as yourself to handle. Ask your shipper for instructions on whether you should or shouldn’t obtain license for what you are about to do, so that there will be fewer concerns.