Where there is a demand, there is always a business opportunity. The landscape of business has graduated to levels where buyers are able to locate and buy from any seller in the world. Global commerce creates a bigger field for suppliers; and, while the chance is there, suppliers are acting as buyers as well. There is more money to be made by both importing and exporting.

The import/export business is very lucrative if when done efficiently. Nearly every country in the world engages in buying, selling, representing, and distributing products. A perceptive businessperson needs to know how to selectively buy their imports and strategically sell their exports.

What will make products popular?

The allure of buying and selling goods is associated with a few main concepts. An importer/exporter must think about the availability of a product in reference to where they are buying or selling it. Depending on the product and location, the former’s desirability is high or low. For instance, selling oranges in Florida is challenging, but a bit easier in Greenland.

Image plays a big role in the import/export business. Some products are highly coveted due to their location of origin. Like French perfume and German beer, the image warrants attention and respect. Pricing is a part of the game. Various products are made cheaper overseas. Buyers keep this in mind when making the decision to buy domestically or import. Resources and technology heavily determine prices.

The players

The top 10 countries America does trade with according to the U.S. Census Bureau:

- Canada
- Mexico
- Japan
- China
- Germany
- United Kingdom
- France
- Republic of Korea
- Taiwan
- Singapore

These are only the top ten in reference to dollars in general. This does not mean you will not have products desired in other lands nor does it mean Americans will not buy goods from places out of the top ten.

Who are you?

Not everyone can be successful as an importer/exporter. It is the industry of a motivated, business savvy person with a background in business (some prior experience in international trade helps).

Most suggest to start with an industry or products you are most familiar with and move on according to levels of success, experience, and knowledge acquired.

Your niche materializes based on years in the industry. The business has many components and different people provide different services. For instance, some work as liaisons to network for you and inspire others to either buy or sell products to you.

What is the market?

Think about the following:

- What products do I want to buy/sell
- Who am I going to sell to
- What countries am I going to buy from and sell to
- What will be my trade channel

What you need to start

One of the main attractions to the industry is the low start costs. You can start from home and make your contacts tracking your business expenditures from there.

The following is a general list. Some items are a necessity and some you can do without.

- Computer
- Fax machine
- Printer
- Internet capabilities
- Software
- Phone
- Voice Mail/ email
- Stationary
- Postage
- Travel expenses

How much can you make?

How much you make is largely contingent on your determination. Some importer/exporters make millions. The average is reported to be somewhere around the $75,000 range. Depending on how much energy you would like to devote, it can be a full-time venture or a supplement another career.

Revenue is based on either commission or a retainer. Depending on how well the product will sell, importers/exporters choose either method. If a product is easy to sell, commission is chosen and a retainer method is chosen if the product’s sale takes more effort. Commission is based off how much you sell and a retainer is a flat price/set income supplied by a manufacturer.

Exporting

A small percentage of domestic suppliers export their goods. This means it is the job of an exporter to inspire them to do so. Most exporters reach potential partners through cold calling and direct mail.

Think of the following:

- What products are popular in your domestic area
- Will these products also be popular in the intended foreign land
- If not, is it possible to create a stir for the product in the foreign land
- Compare selling prices in other lands of the product
- Determine if success is viable

Importing

Importing warrants the same measures as exporting, but from another perspective.

Think of the following:

- Traveling abroad in search of products
- Come into contact with manufacturers
- Attending trade shows
- Tracking down leads

Marketing

Importing/exporting services can help you in many facets of your venture. Marketing yourself, your ideas, and the products are part of the ordeal. Availability, the image, and the pricing are the main factors to think about in relation to any product.

Conclusion

Opportunity is available for those interested in importing and exporting. The process invites the instance to sell more products to more buyers. Risk is involved as with any business venture, but doing research on potential markets and products greatly reduces any risks.