starting your own home-based international trading business - small electrical appliances

by:Yovog     2019-08-29
starting your own home-based international trading business  -  small electrical appliances
Means of creation are necessary.
As many of us are painfully aware, the income we receive from normal paid work seems to never be enough.
Therefore, we are constantly opening up ideas for the possibility of increasing income and looking for ways to make money other than working double jobs.
However, it is human nature to look for something simple;
However, earn as much profit with the least investment.
Here's an ideal business you can run at home: a very small starting point --
Increase funds, no inventory, no shipping costs, high profit can be achieved if you are lucky.
However, it takes a lot of effort at the beginning, but over time it becomes easier, lighter and profitable.
What is the international trade business?
As we all know, trading is a matching business between buyers and sellers.
When you deal with people from different countries, you call it international trade.
Basically, international trade is the middleman between two entities located in different countries.
Since we are talking about international trade, remember the exchange rate (
Click here to find out what forex is).
Actually at the exit.
Import but no trouble.
You do not carry inventory, do not maintain the warehouse, do not handle the transportation, do not prepare the transportation documents, do not care about insurance, etc.
All you have to do is coordinate the functions of exporters and importers.
The best part is
You're paid!
Related articles: build suppliers and buyers for your international trade business
Headquartered at the International Trade Fair, look for and use an export management company
The clues based on the export business will be used to launch the international trade fair to become a customs brokerage company. Hard work stems from overcoming the difficulties of establishing oneself as a genuine international trader and being identified and recognized.
If you start your trading activity from scratch, you must strive to make your company considered a reliable trading institution, considered credible and worthy of the trust of both buyers and sellers.
In the stock market, buyers and sellers work closely with their brokers.
The same thing happened in the transaction.
Before you start, you need to win the trust of both sides.
Before you get excited, you should remember that trading is not easy.
Since you will be negotiating business for different companies around the world, it is natural for these companies to be alert to trading business with you in the first place.
If a company deals hundreds of billions of dollars, the result will not be accidental.
In order to succeed in international trade business, you must start from the right angle.
Communication is an important part of the action.
It is important that you invest a little bit on your computer, phone and fax machine.
Even if you don't have a website, you can negotiate by email.
When you need a signed copy before you receive the actual signed document or signed contract, the fax machine comes in handy.
You may also need a copy of the contract before signing it.
Credibility is a very important requirement in this endeavor.
It is necessary that you are 100% reliable.
You have to display an image of 100% reliability.
For beginners, the best way to achieve this is to look at the company that sells the products you intend to sell.
Choose the product you are most familiar.
There are broad prospects in food, toys, electronic products, electrical appliances, clothing and other industries.
Try contacting any of these companies to see if they already have an agent in the country you want to sell.
In some cases, their current or previous business relationship is not
Exclusive so you have to check it too.
You can also ask if they have any specific country where you can be represented by them.
For a company, in order to satisfy your application to represent them in certain countries, you may have to show them your certificate.
The certificate includes your experience, the company you handled before, the goods you traded, and even the Bank reference.
Try to avoid talking about yourself as a new company.
Instead, try to project an image that you already exist and you know the trick.
They will know this by the questions you ask and the answers you give.
So before you try to contact any company, it is important to have a substantial understanding of the trading activity.
When the company is not represented in a specific country, they will allow you to find a buyer for them according to the specific situation.
However, in most cases.
In order to bring interested buyers to exporters, you have to deal with all the contact process and fees.
Many times, most of these transactions become "one-
Shoot "because.
If any, the buyer can go directly to the supplier and vice versa.
It is wise to ensure that you are duly appointed and that your appointment documents as representative or agent are properly documented.
The contract period must also be specified in your appointment (
One year, renewable)
Including your compensation.
Percentage of value.
In some cases, the company may agree to reimburse you or provide you with additional fixed amounts to process your communications and other miscellaneous charges.
What this appointment embodies is the responsibility that you should be responsible for at your end and the responsibility of your supplier.
You have to do this for all the companies you are involved in, even if the deal is only good for one transaction.
For your compensation, most companies agree to share three to five of the total freight-on-Board (FOB)
Value of goods.
For bulk products such as grain and feed, the Commission may be 20-
5 cents to 1 dollar per metric ton. With non-
Batch products, the Commission is slightly higher, reaching 10% of the FOB value.
The Commission is also allowed by others (
Cost and freight)or CIF (
Cost of freight insurance
But this is rare.
This important project must always be specified in the "quote" submitted to you by the supply company.
If there is no proper appointment from the supplier, you will no longer be at greater risk as part of the subsequent shipment.
Whether or not there will be a deal in the future, if any, it is better that you have an appropriate appointment to guarantee your Commission;
Of course, show your credibility to your buyers.
On the contrary, you must also make sure that the company you represent is credible and reliable.
You also have to check their history.
Get as much information as possible
How and where they get supplies, including fulfillment history.
You do not want to represent a company that will disappear or cannot be delivered after you have made a deal.
Don't take this for granted, as it will jeopardize your future, or make you pay so much in case your supplier is unable to deliver important goods.
The fine costs so much even for late delivery.
In addition, you should also ensure that your buyer has the ability to import.
Check their bank references and make sure they are able to make any payment terms you agree.
If a letter of credit is required, make sure they can open a letter of credit at the bank.
There are many situations in which traders lose face (with his pants)
Later, as one of his buyers failed to open a letter of credit, he disappeared from the trading site.
Letter of credit is a form of payment for import
Export activities.
The buyer opens a letter of credit at his bank and the bank guarantees payment after submitting the relevant documents requested by the bank.
These documents usually include bills of lading, packing lists, invoices and the required inspection and customs certificates.
These are specified in the letter of credit and if your supplier wants to get payment from the bank more quickly, you must submit each one in a timely manner.
However, as a trader, your responsibility is to make sure the letter of credit is opened on time.
After that, all you do is wait for the goods to come in-your supplier will check your Commission.
Initially, try to focus on a product line.
Show your suppliers that you spend more time promoting their products.
Send them inquiries, quotation requests as often as possible.
In a timely manner, they will automatically protect you and think you are part of their own world.
You follow the same process when you expand your product line.
Looking for suppliers, looking for buyers, negotiating.
Ultimately, as you become familiar with suppliers and buyers, you will find new suppliers and new buyer requirements for new products.
Slowly, your image as an international trader has been developed and you will begin to receive inquiries from buyers and quotations from suppliers before you know it.
All of this comes from the comfort of your home!
Recommended book on launching international trade business originally published in April 2003: How Global Small businesses trade: the guide international trade and finance manual for you to start or expand small business international trade companies now: complete Guide to risk management, international payment and monetary management, bonds and guarantees, credit insurance and trade finance international trade: Basic Guide to export international logistics principles and practices: International trade operations management (
There are access cards for making grade printing)
Understand import/export kits for global trade export/import procedures and documents
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Start a home
Based on international trade (Part 2)
Pros and cons of establishing supplier and buyer financing for your international trade business 12-
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