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How to start a Importing Retirement Business
To get started:
There are thousands of products that you can import ranging from
People are tired of the same old manufactured items. They want something new, different, and exotic. Importing is a hot business now. According to the U.S. Department of Commerce over 96% of all importers are small companies. One of them could be you.
This is an ideal part-time business. You select the market, products, country, and to whom you want to resell.
You can import items that are just not available in Canada or the USA like packaged food, silks from Asia, hammocks from Mexico, cuckoo clocks from Bavaria, perfume from small French firms, toys from Korea, gemstones from Brazil, and unique electronics from Taiwan – usually for a lot less money than mass produced products.
Define the market that you want to sell to. Products for children and teens, young singles, newlyweds, families, moms, dads, hobbyists, business people, or seniors. Visualize your ideal customer – give him or her a name.
Now what would such a person be interested in from a foreign country? What types of products? How much would they spend?
Find out which countries might have such products available that you could import.
Read up on the requirements for importing.
Organize your business. Get an accounting system. Setup a web site. Finances.
How do you plan to reach your market? Will you purchase the products or do you want to be a manufacturer’s representative only? Will you sell retail, wholesale, or on consignment?
How much time do you want to spend on this business? Can you automate or out-source?
This is not for everyone. There are a lot of details and it takes time to import before you can sell. And if you would be afraid to approach people to sell Girl Scout cookies, then think of another business as it is not enough just to import something, you have to sell it too.
It helps if you are familiar with the types of products you will be importing and are enthusiastic about it. Knowing a foreign language is useful but not necessarily needed. You can always translate a web page with Bing Translator.
Here are the top 10 countries to import from:
- United Kingdom
- Republic of Korea (South Korea)
Don’t forget niche countries like Africa, the Caribbean, Eastern Bloc, Russia, and South America.