The export industry could be a challenging yet profitable upgrade to your business. There is an element of risk involved however, just like there would be in any business that you do. Here are some tips that may help you.
One of the best measures you can take in order to prevent going through a large loss, if your export industry doesn’t work out, is to start a local business first. This way if you aren’t able to find buyers from the international market, you can still continue running the business in the country that you are in. This also has the added benefit that you will be able to build up a reputation which could improve recognition from the foreign market.
Get an agency to handle transport
After you have decided on what you are going to sell, and have found an international buyer, you will need to get your goods shipped out. In order to maintain good service with your client, it may be important that the goods are transported in a short time and with no damages or shortages in quantity. Looking for a logistics company that is famous in your area could help with this. For instance, if you were living in Ethiopia you should try to look for a good Ethiopia logistics company that promises to ensure quick delivery.
Look for multiple clients
When running an export industry, it would always be a lot more helpful if you had more than a single client that you are supplying to. You could look for more clients from the same foreign country to begin with, as this way you are sending all the goods to a single destination so your and you would have to bear less fees to your international moving company. When you feel you have enough suppliers from that country, you can move onto the other countries where you can reach out to a completely different market.
Get your own customs clearance agents
When sending goods abroad, oftentimes they may tend to get held up at customs if the goods that are being transported are subjected to duty charges. If you are unfamiliar with the country’s laws, they could end up charging you something higher than what the actual duty cost should be and this would be minimising your profits. Having your own customs clearance agents would ensure that the items are cleared quickly and also that you pay the actual duty cost or even less in some instances.
Following these tips could help you immensely in running an export business.