Do you want to import a container? We can help you import all kinds of cargo. This is possible from all kinds of different countries and ports. Contact us for a quote. Have you never imported goods before? On this page you will find a lot of important and practical information. We give you 5 tips when starting your own import activities. We also give you 5 practical tips for your (first) import.
5 Tips to Start Your Own Importing Business
When you’ve decided to go with your own importing business, here are a few tips to get you started. It is always good to know as much as possible way ahead, to avoid making mistakes in the long run.
- There are several countries that have embassies or consulates in your country and you can take advantage of that. Pass by their offices and ask for industry directories, manufacturer lists from their countries. They will be happy to give you a copy. This way you can see what interest you from the list of products/manufacturers that the country has on offer.
- Each country is different, but they all require a set of procedures, registrations that you need to follow. You have to enquire about these at your local tax department. Also you need to find out about licensing agreement for the products you want to import.
- When trading internationally, you need to have a good knowledge about Letters of Credit, which are the most common form of payment when dealing international on a larger amount. You can ask at your local bank branch about it, they will be able to help you. The Letter of Credit basically will minimize your risk of having to pay in advance for goods.
- Don’t forget about Duties. Do you have to pay any? Duties depend on the value or the quantity of the products you want to import, as well as on the product’s tariff classification in the Harmonized Tariff Schedule of the US.
- Another aspect is custom requirements. If you are an individual that you want the goods for yourself or for your business, you can clear your own imports through Customs. You don’t usually need a permit or license in this case. However, the imported products have to meet the same legal requirements that are available for domestic goods. You can obtain a lot of information on customs requirements for imports at your local customs office.These are just a few of the manu things you need to be aware of when intending to import products. This list is there mostly to make you aware of them. It is by no means an extensive ist of completely accurate information, since that changes and differs from country to country, from year to year.
5 Importing Tips for Beginners
Sometimes imported products are cheaper than locally manufactured ones, particularly when it comes to the western world (US, Western Europe), so successful producers, who have to offer the highest quality at the lowest cost, will import goods instead of buying them locally. More and more companies are working this way in the last few years because importing will give the companies better profit margin, plus it will allow them to compete on prices with other producers. Many companies acknowledge that almost 75% of what they sell are imported products. Here are a couple of tips that you need to know to have a successful business importing from outside sources.
- It takes longer for imported goods to reach to your warehouse, so when ordering from abroad, keep this in mind. Make sure you have enough stock left until the products enter your location.
- Order more than you’d order from within your country. Since it’s cheaper, you will get much more for your money.
- You will have to pay shipping costs, so enquire in advance about the best shipping rates. However, even with that calculated in, you will save a lot when ordering from wholesalers abroad. So do not let shipping costs deter you from buying from them.
- Avoid designer products. Seriously. Designer clothing from China is poor in quality and fakes, period. Designers are a whole different category alltogether. They make their clothing in France and Italy to make sure the quality is really good. So you will never find a good quality Gucci bag coming from China. You might actually end up being sued for selling fakes!
- Going back to shipping costs. Unless you have your own established company, if you’re looking to import various products to make money, go for light and small items. You will save even more on shipping costs this way.