Import & Export

Import Export Business Essentials

Due to technology’s current ever-expanding growth rate, global trade is easier and more efficient than ever. However, before any sort of importing or exporting can take place a business needs to follow certain procedures that allow for the proper development of the business and its potential trading partners. Some of the fundamentals of export import logistics management include the following:

• Understanding the Global Market – Having a background in business, international relations, or global finance provides a basic understanding of the countless hoops and quandaries that a business must navigate prior to selling or buying a product from an overseas supplier.
• Create a List of Products That You Would Like to Import or Export – Once you have a product or several products in mind, it is important to identify the correct market in which to sell it. Once this is established, a supply chain needs to be created.
• Supply Sourcing – Import and export services rely on trusted suppliers to provide the necessary goods to create your product. Having extremely good relationships with your suppliers is vital to the overall success of your business.
• Product Pricing – Establishing the appropriate price for an exported item can be an art. If your price is too high the product may not sell and if it is too low, you may end up not making any money. That’s why pricing should generally be leveraged at 10% to 15% the overall cost of purchase.
• Locating Customers – One of the most difficult aspects that import export companies regularly deal with is locating a consistent buyer source for their products. A quality website and good digital marketing tactics may attract buyers to your site but establishing relationships via cold calling may be a necessary process as well.
• Establishing Logistics – The most complex aspect of the importing and exporting process involves the logistics and strategy of providing a consistent product to the consumer, without hassle or delay. This part of the process involves many people and businesses and can often become a daunting and overwhelming task to a sole person or company at large.

Becoming a legitimate import and export company that can generate a positive stream of revenue is a complicated task that involves many processes and relationships. If your company would like to focus more exclusively on your product and less on the process and legalities surrounding the import export business, then let Sun Fast International become your trusted import export service provider. We have the knowledge and connections that will allow you to focus exclusively on your product, leaving the export import logistics management to us.