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ARKET
Keep informed. Read everything you can find about world trade. Look
at trade publications, international newspapers, news magazines, and
financial reports. Who is selling what to whom? Although the market
for American-made airplanes is sewn up, there are thousands of
medium to small sized manufacturers in every state of the union.
You can get goods to sell, but you have to be sure to study where
they are in demand and can get the price to make exportation viable.
Your questionnaires will tell you what further and read the journals
published by that country - and many are available in English. Do
these publications confirm the desire for certain products?
The American market for imported products fluctuates with the value
of the dollar in comparison to the value of each other country's
currency. And, importation prices reflect that directly. Can
American consumers afford to pay the price of certain import ed
goods? Or will they?
Finding the right market is as important as the actual particulars
of making deals and selling goods. What do you think will sell? If
you do some careful studies and think about the trends, you'll be
able to come up with hundreds of products to import an d export.
The import/export business is actually smaller than you might
think. There are only a few of these businesses - that's why there's
plenty of room for more.
WHERE TO FIND HELP
Establish a good business relationship with a local bank that
handles international business. Your personal banker will follow
through on the actual foreign transactions, and will help keep your
credit afloat. In fact, that is one of the best factors abo ut an
import/ export business. Aside from office supplies and
correspondence, or possible business trips, you need no personal
cash outlay. All you need is good credit and a good reputation.
Your banker is your credit manager and will give you valuable
advice and references when you deal with both American and foreign
manufacturers and distributors.
The United States Government agencies are great places to find
help. These agencies promote the import/export business, and publish
many small booklets and pamphlets. They also distribute continually
updated reports on foreign markets, commerce and finan cing.
Read these sources of information and find out the particulars of
exports, global surveys and ocean freight guidelines. Become
familiar with the market share reports, current laws and
regulations, and government promotional facilities.
MAKING CONNECTIONS
As you continue your correspondence with foreign companies, build
up a good rapport with their representatives. Pin down a few
companies - perhaps in the same country or similar territory - to
their exact needs. What are the two or three products most in
demand?
Consider their methods of distribution. You may be able to work
directly with a wholesaler of an overseas importing company. Your
commission will be lower, but you won't need to handle as many
particulars, and they will take care of distribution.
Or, you may need to supply catalogs and samples, working with a
network of small companies, or sales representatives from a larger
conglomerate.
The highest fees that you can collect are for raw materials taken
from the source and delivered directly to a manufacturer. But you
must be certain of a guaranteed quantity and
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