Have you seen a gap in your local market and do you want to import? First, read this plan. Here you will find practical tips to make your ideas a success. Including tips for importing process from entrepreneurs who already import.
Like with many things, import is not something you just do for a while. There is more to it than ordering a package from a supplier, for example, China. What you have to think about and how other entrepreneurs have tackled it, you can read in this overview article.
I want to import, where do I start?
Generally, entrepreneurs have two reasons to start importing: either they have discovered a gap in the local market, or it is more advantageous to make a product or service abroad and then transport it to the country. Doing market research, it is essential to measure your opportunities and threats. In this article, you can read how to set up a market research.
Write an import plan
If your market research shows that the local market is ready for your product, you set up an extensive import plan. Importing can cost a lot. Prepare a well-thought-out and detailed financing plan if you ask the bank for credit. Will not it work with the bank? Then try one of the alternatives, such as Microfinance or Crowdfunding.
Commercial agent or importer?
You can choose whether you profile yourself on the international market as a commercial agent or as an importer (also known as a distributor). Both forms have their advantages and disadvantages. Before you take the products to your country, you do well to check if they meet the legal requirements. As an importer you have to be able to guarantee product safety, but also as a commercial agent, it is good to be aware of the conditions.
How does my product come?
You have chosen everything; now it’s time to get your product from A to B. For that you have to make the necessary choices, which means of transport do you choose for example? And which documents do you need? Every means of transportation has its pros and cons, like: Dangerous goods require particular attention.
Tips from importing entrepreneurs
As a commercial agent, make sure you have an excellent long-term contract and a decent goodwill agreement if the contract is terminated. Also, visit your foreign partner on a regular basis and talk to everyone in the organization, not just with your contact person.