X5MB. Lectura Grupo 6
Take a look at the household items and equipment you have in your home.
Made in West Germany; made in Japan; made in Korea. You may have clothing from
India, shoes from Brazil, a leather wallet from Italy. Your car may be an
import; your stereo equipment may be manufactured elsewhere. There are hundreds
and hundreds of items manufactured all over the world, now being used by the
American consumer.
The market is huge. And there are many American firms looking for
foreign-made merchandise to distribute. Some items are less expensive; some are
better made; some are imported because they are made in a country now fashionable
with the designers.
What can you tap into? Maybe you have contacts in the United States,
distributors looking for certain goods. And you've already made contacts in the
foreign countries that produce these goods. Follow through and get yourself an
exclusive distribution agreement with those manufacturers.
Importing requires the same diligence and follow-up as exporting does.
You'll need a signed contract with the manufacturer to be the sole agent
distributing to North America - or the world, depending.
You'll also need to obtain firm price quotes from the manufacturer in the
quantities your distributor requests. These quotes should be converted into the
appropriate dollar figures representing the currency exchange.
Investigate the reputation of the manufacturer and the reliability of the
goods. If you import something like electronic components, check into the other
distribution market the manufacturer has to assure the quality of merchandise.
Your commission will come through from the foreign manufacturer. Have your
bank investigate the solvency of that company and the reputation of living up
to agreements. Since it's on foreign territory you'd have more trouble in any
legal suits, even in light of the many international laws.
Prepare the price quotation. It is easiest if you request terms of delivery
to the port of that country. Your freight forwarder can help you move the
merchandise from that port, overseas, and through domestic customs.
Follow through with all the details of shipment. Be sure to include any
insurance, dock fees, storage rates, and shipping overland. Overlook nothing so
your price quotation to the American distributor is accurate.
Itemize the quotation and give it to the American distributor. Upon receipt
of an authorized order, double check prices and follow through on delivery.
The letter of credit will go from the American distributor to the bank of
the manufacturer. All terms and agreements regarding prices, freight and
insurance will be defined. The manufacturer's representative will confirm
receipt of the letter of credit, which will release the goods for shipment.
Have your freight forwarder follow up on the shipment of goods. They may
have to be freighted from the factory to the docks. Arrangements for shipping
need to be carried out. Customs duties and unloading need to be followed
through from the American port. Then, the goods may need to be freighted
overland to the final destination.
As soon as the goods have arrived at the proper assigned destination,
papers have to be documented and presented to the bank that holds the letter of
credit. Then, all carriers and agents need to be paid, and you collect your
commission.
After you have completed a few sales transactions to establish yourself,
you'll need to promote your import/ export business to get more clients. The
first transactions give you the experience to learn the ropes of the business,
and to establish contacts and agents both here and abroad.
Join organizations of commerce and foreign trade associations to develop
more contacts and extend your territory. Talk to everybody you contact about
importing and exporting, learning from their mistakes and successes.
Advertise in the print media for distributors and for goods. Manufacturers
don't know how to make the contacts for foreign distribution. Show them your
credentials and pick them up on exclusive contracts. With a little experience,
you can market almost anything anywhere.
The profit of the import/export business is in the quantity of the goods
traded. The higher the cost of the merchandise, the higher the profit from your
percentage. Since you need to go through all the steps for each transaction,
having more sales on a continual basis simply adds to profit.
Send constant mailings to your original list of contacts and follow-up
leads. You might develop a sales approach. As you develop more clients, you can
convince the bigger companies of your reputation.
Contact as many manufacturers and distributors as you can on both sides of
the ocean. And solidify these contacts. You may be able to work out an
arrangement with someone to work in a certain country for a commission. Or, you
might want to take a business trip there to personally meet with the various
companies.
Get in-depth information on the products now selling. Why are certain
products successful? Maybe you can get into the same market with a more
competitive product. Investigate ways to sell more. Do the products need to be
better made? Do they sell better at a reduced price? Know what sells and where
to get it.
The import/export business is a high profit enterprise. Because of the low
overhead, most of the money you make on commission is yours. But building a
truly profitable business requires dedication and a good knowledge of the
business.
You need numerous contacts who know you, respect you, and can recommend
your work. You need to have good agents both here and abroad to help you follow
through on the delivery of the goods. You need a good working relationship with
your own bank and possibly the others that letters of credit come into as
branch transfers from foreign offices.
Don't be hasty for orders. Investigate the manufacturers and distributors
to be sure the products and sales methods are reputable. Check out the particulars
of shipping and manufacturing from the foreign country. Each culture works in a
specific manner. Get to know how to work with those people.
The import/export business is not for everyone. But it is a personal
operation that you can run yourself - you don't have to answer to anybody. The
rewards of negotiating in a foreign country are excitement, a touch of the
exotic, and the great profit potentials. When you make the proper contacts and
follow through completely with reputable manufacturers, reliable shipping
companies, and responsible distributors, you have it made.
If you are ready to put in the time, sell yourself. Start making inquiries
and contacts. Try it on for size. Does it feel good? Then MAKE IT SUCCEED.
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Taken from: http://www.foreign-trade.com/reference/impexp.htm
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