Many times, we think of “How To Set Up International Trading Business” as an alternative to conservative trading business when you need to have all proper set up like an office, warehouse, staffing and etc..
Based on my 10 years of experiences doing International Import & Export Trading business , I personally I feel that it is easy to do this business because of low working capital, less time consuming and we can even work from home.
One only need to have a “Good Trading Business Partner” and “Reliable Contact of Suppliers”
That’s it!
The rest is just waiting for order, do payment and finally, do all the shipping arrangement which is all done by supplier and we just need to follow up and monitor.
No need Warehouse, No need to do Production, No need Staffing. No Hassle at all.
Always Remember the Most Important is to have a RELIABLE SUPPLIER and CUSTOMER
Once all set up, you can just work from home or anywhere else in the world.
That is the beauty of doing this International Import & Export Trading Business.
Tips
How To Set Up Your Own International Import & Export Trading Business
STEP 1
Brainstorming of the trading business that you want to do.
Business Plan, is needed to show some simple calculation of your small working capital during the Set Up of company.
Identify Product range : Any product you think which is marketable and what does your customer required.
Identify Market: Country, Customer Profile : low end or high end Eg. General public, Kids, Adults etc.…
STEP 2
SET UP Company : depending on country regulation
Enterprise / Sole Proprietor / Private Limited
You may look for Company Secretary to assist you. Just google : Company Secretary in your country for details.
Note : If you do not have a company you can become a middle man or broker for all the arrangement and make some commission either from the factory or customer.
Enquire for Relevant Licence from local authority, if needed only.
Business Address / Office: I would highly recommend to have a Flexi Service office with Virtual office facilities. This kind of office services will help you to answer calls, received mails, your own spaces on real time available and common meeting room with good business address.
Bank – You need to open a bank account in order for you to receive or transfer payment.
Payment can be from customer to your company account then direct transfer to supplier bank account or can directly transfer to supplier accounts and you earn commission from the supplier.
STEP 3
Customer Sourcing – if you have known someone whom needed the goods will be much easier as you are able to know their requirements.
You may also link yourself with local or international Business association, government trade department, embassy or exhibition to meet new customers. You most likely meet genuine business partner in all these places.
Supplier Sourcing– you may source from trade exhibition locally or internationally, online but online searching is high risk unless if you do a factory audit and visit to the office for verification, or locally found in your country.
STEP 4
Cost Calculation – This is most important as you need to calculate the cost of product from factory, logistics cost, document cost if any and also your profit must be included too. Normally, a good profit is between 5%-30% depending on the value of the goods.
Once all these steps have been completed, you may start to do your International Import & Export Trading Business. These tips are are based on my personal experienced running an International Trading Business. I hope you can get some useful information and implement this into your business.
