Import-export is one of the most lucrative industries of all times only if done the right way. People always look for new products to import and export as it is more profitable. A lot of people want to work or try to work in the field of importing and exporting products or services but not all succeed. Import and export can be observed from biblical ages. There’s has been various records to support the evidence for the existence of import and export. The biggest land trade route I can quote from history was the silk route. Back then people traded in spices, silk, and other goods but there were always things which change the course of the entire history of import and export, for example, black powder or gun powder. We are living in a digital world now, things have changed a lot but the blueprint remains the same. So let’s take a look at few points you need to take care of, if you are trying to work in import and export.
- Choosing the Product: There is a lot of competition in generic import and export. Like I said before about the trade of black powder. If you want to sell silk and spices like everyone else, you’ll have a lot of competition and you’ll have to struggle a lot. Whereas if you are trading a unique product. You are more likely to make more profit quickly and more established business for the long run.
- Market to Target: To know your target audience is very essential in import export. For example, if you are planning to import red chilies to India, you are bounded to fail. On the other hand, if you are planning to export red chilies out of India you have a better chance of market growth. So knowing your market is the major research that you’ll have to make before you even think about getting into import-export.
- Initial Costs: Without calculating your investments and the expenses that you’ll have to bear to run your business successfully can lead to failure. Imagine you started your import export business after an extensive market research and everything looks promising in future and then imagine running out of the investment. You’ll lose the money you invested and the future too.
- Marketing: Every business needs marketing. If you have the best product in the world and you don’t market it well, either the product will not work well as nobody knows about it or it will fail to make an impact on the market.
There are many other things you need to know before entering the world of import and export. There are academies to give Import Export Business Training in India. Export Import Academies one of the best to learn from, they have a variety of export import course in India. So go ahead and live your dream.