How to Start a Successful Import Business Over the Internet
The Internet has opened a new era of business
opportunities. Falling trade barriers combined with easy access
exchanging information thanks to the Internet have created dramatic
possibilities and sparked the growth of global online commerce in
practically in all areas.
Many companies are taking advantage of electronic media quite a bit.
aggressively making new contacts, tapping into new markets
and cost reduction with the help of online technologies.
Whether you are starting a new import business or planning
expand your existing business, you too can use the internet as
your main channel for information, product sourcing
or services, looking for suppliers and doing their marketing.
Before the internet age, finding a viable product to import
It was not an easy job! Fairs and trips abroad
were the two best options available to get to work
information about a product and its supplier. Today required
information on any imaginable product from virtually any market
it is available at your fingertips.
Find a product
If you know what you plan to import, substantial work
It is done! Otherwise, your first step is to choose a
product or service feasible to import. Whether i’m planning
to import a general merchandise or an industry-specific product,
do your homework well.
Browse through catalog repositories, B2B exchanges, electronic
trade boards, trade magazines and virtual trade shows to find a
product. If you know the country of manufacture from where
it is possible to obtain the product, refer to the specific country
portals and exchanges. Here is a list of high quality electronic devices.
For products made in China: http://www.alibaba.com
Sourcing India: http://www.trade-india.com
For Russian products: http://www.rusbiz.com
Products from Europe: http://www.europages.com
From South Korea: http://www.ec21.com
For other country- or industry-specific B2B exchanges
look at this list:
Your criteria for choosing a product to import should include:
Your prior knowledge of the product you intend to import and your
industry. Your chance of success increases considerably if
you know the product well.
Access to the required quantity of this product. If you spend time
and effort to develop a local market for a product and cannot
to deliver, you will lose business and reputation.
Product quality. This is a crucial aspect to develop
a market for any product. The quality of the product must be
consistent with market requirements.
High profit margin. As the import incurs many expenses that are
specific to this type of business only, before importing anything,
you must carefully calculate all the required expenses and see that
you still make big profits. You can check the sites of
your potential competitors and do a price comparison to get
Initial idea about your products current market price.
Once you know it? What do you plan to import? your next step
is to find a reliable supplier for this product.
Electronic marketplace or B2B exchange
B2B exchanges can be of great help in getting suppliers of
products you plan to import.
The possible steps you need to take to find a provider for a
B2B exchange, listed below. As an example, http://www.rusbiz.com is
– Register your company. This service is often free!
– Go to “Advanced Search”
– Write the name of your product in the corresponding box
– Select the required criteria and click ?? Look for ??
– You will find a list of companies.
– Take a look at each one of them until you find a suitable one.
Chamber of Commerce
Another option is to contact the Chambers of Commerce to find a provider.
A Chamber of Commerce is an association of companies that protects
and promotes the commercial interests of its members.
For a complete list of chambers of commerce in various countries
take a look at this page: [http://www.worldchambers.com/CCII/index1.htm].
If other methods did not give any fruitful results, you can
Consider posting classified ads on a variety of business forums.
There are many trade forums available on the Internet. Weather
post business leads be sure to specify your requirements
precisely. A well written advertisement will bring a much better result. Mail
your trade leads frequently until you find a good supplier for your
Once you’ve found a provider that meets your needs, check it out carefully.
Your supplier must meet the following criteria:
The supplying company must transport the product for a substantial period.
Must have export experience? preferably to your country.
You should have export references readily available.
It should be a reputable company in your country.
If the business meets the above criteria, get Dun and Bradstreet
company report to verify your financial background.
Sale of imported products
Before even thinking about importing a product or service, you should
you need to know exactly who your customers are and how you are doing
to sell their products to them. Although, there are numerous ways
to sell a product, selling over the Internet is earning
Sell through your own website
Considering the growth of e-commerce, today, any consumer-oriented
The product is viable to sell over the Internet. Your success will be
they largely depend on your ability to market your website properly.
Your website should have the following qualities, among others:
attractive design, clearly described product specification
images, great content, fast connection, easy to use shopping cart
and a good merchant account.
As a drop shipping dealer, you keep inventory and your joint.
Venture partners make the sales. Once a product is sold, you get
your partner’s payment but send the product directly
to the end customer.
Sell through distributors
Selling through experienced resellers in their field reduces
marketing and selling costs. If you sell products through a number
of distributors and each of these distributors uses diversified
marketing method, your sales potential is multiplied without
spend more on marketing.
An electronic marketplace is a business community, where you can wait
to see a large number of buyers and sellers. For a seller it is
a low-cost, highly functional and easy-to-use sales channel.
The benefits of selling products through the e-marketplace also include:
– Low cost of customer acquisition
– Improve customer service
– Efficient information exchange method
Reduce the cost of the supply chain
Entrepreneurs who want to get serious about importing should
Acquire a substantial knowledge of the process. A lot of
The information necessary to carry out an import and export business is
available on the internet. Anyone with enough enthusiasm to
learn you can easily find them and use them to build a profitable and