Trade has existed for almost as long as there has been human civilization. From importing exotic foods to exporting solar-powered light fixtures, the international trade business will take you all over the world and into all product niches. International trade is one of the hot industries of the new millennium. But it's not new. Exports are products and services produced in the home nation for sale in a foreign market. In contrast, imports are any commodity or service carried from one country to another. And as the world becomes more and more technologically advanced, as we shift in subtle and not-so-subtle ways toward one-world modes of thought, International trade becomes more and more rewarding, both in terms of profit and personal satisfaction. But I warn you. The road is tough. It is filled with struggle. You will face ups and downs in that journey.
And let me be clear. You have to know the way that reaches success. You have to have an excellent import-export business plan for that. And it would help if you were ready to be in an endless learning cycle within this ever-changing world of international business. So now I am going to share with you the most crucial steps that show you how to start an import-export business. If that is your ambition, there is a lot of information you can learn and integrate into your business. Are you still with me? Then let's not waste any more time. So here is your first step. Get the basics in order. This means choosing your business model, registering your business with the state where your headquarters will be located, selecting your company name and brand, registering your domain name, getting any business licenses you need to operate legally, and more.
Suppose you want to learn more about import-export business types. And also if you're going to discover legal procedures for starting an export-import business in India. You should definitely watch past parts, and you can find their links in the description below. You will need an import-export business plan also. Part of that business plan needs to cover handling the rules and regulations of the markets you want to work in. You cannot exist in the import-export business if you don't invest in a well-built website. Your website will be the first impression you make to potential customers, and it is crucial to create it very attractive. Luckily, you can now set up your website using different platforms. Some of them are even free, or they offer you a free trial until you can afford to pay for a subscription.
You can even start by creating a blog or incorporating a blog section into your website. Whatever your choice, remember that your website has to include your contact information and valuable content about your products or services. You can also add a section for testimonials. So old customers can leave a review and guide new ones towards your business. Today, many new potential customers decide whether to collaborate with you based on your online presence.
And the first place they look is your website. So you can easily win or lose clients through it. You should build a rich website and offer as much information as that helps them to find your website easily. Nowadays, any import-export business should have a strong online campaign to support the offers and promote the entire set of products. Investing in some SEO helps you reach new customers worldwide. Perhaps most importantly, you need access to capital. The budget you need can vary greatly depending on the type of import-export business you start. Everyone knows it takes money to make money.
So it's helpful to have capital on hand when you are getting started. So guys, all these works, and you can add some more, are our basics. And you know, if you want to be successful in any business, the first step you take is most crucial. The more solid the foundation you lay, the more easily you can overcome the difficulties that may arise in the future and continue your journey of success. Please pay attention to these basic tasks.
Then, think carefully, do your research and try to make the best choices for yourself and your goals. Okay, guys, if you are clear about the first step, let's go to the second one. The new step in starting an import-export business is finding a product or industry you are passionate about and think you could sell in the international market. If you are planning to trade in India or with India, you might have plenty of options to explore. I will mention the best import-export products for India in the next chapter. So you keep watching. Also, suppose you are wondering about the industries that will make you a millionaire today. In that case, you should watch my video about that. You can find the link somewhere here and also the link in the description. And there are many new products you can also introduce to the international market. You can export or import almost everything from rice to textiles and even electronics. Once you identify the products that are in demand in a particular market, you will have to decide if you can trade that product or not, according to your possibilities. If all the research goes well, you will be able to move on to the next step and start developing your international business.
Also, keep in mind that when you choose your product, you should also consider your long-term goals. Will you be able to stick with a certain product for a long? Or, Should you test new ones to introduce into your target market? These questions can make the difference between a successful business and an unsuccessful one. Additionally, researching products helps discover many export-import business ideas to develop your business. Consider the demographics of the target country you plan to export goods. It will help you estimate the number of goods you can export and how much money you can make. Feel free to upgrade your international trade business to new levels by importing or exporting new products now and then. Stay informed regarding the local demands of different countries and tries your best to supply them with high-quality products.
You can always introduce a new product on the market by testing its potential with samples before exporting or importing a large quantity. Being able to identify new import-export opportunities will change the course of your business for the better, which is why it is important to follow your instinct as well. And if you have enough budget, you can benefit from the services of big data providers to see and analyze new opportunities more clearly. And last but not least, you should look at my video about how to choose the right product for export. You know where you find the link. Alright, guys, let's move to the other step of becoming an exporter or importer journey. Once you have a product you would like to trade internationally, you need to find a local or foreign manufacturer that makes your product and with which you can establish a strong partnership. There are a lot of sources you can follow up on to find the best supplier for your business. You can use your own connections, local resources such as chambers of commerce or trade associations, online or offline business directories, or fairs in your country to reach local manufacturers.
To identify foreign manufacturers, you can use B2B sites such as Alibaba, Kompass, Global Sources, companies that provide you with big data for competitor analysis, international supply chain services, import consultants, or intermediaries that can serve in the country where you will purchase, and fairs in the relevant country. If you convince the supplier of the benefits of the market you want to sell to, it will come back to you as a discount or other advantages. Figure out the logistics of taking their product from their warehouse or production facility to another, potentially on the other side of the globe. You might also be your own supplier in some cases. Remember that you can get the real profit in trading when you buy a product, not when you sell it. Okay, let's look at step four. Sometimes you can overlook it, so let me remind you, guys. The like button you see below is crucial for our channel.
If you like the video, hit that like button, and I will be rewarded for my efforts, and you will have the chance to reach more such videos. Also, if you have enough budget and want to support more, you can join my channel or show your support by sending a super thanks. And I released my e-book about shipping. Shipping is a crucial aspect of the import-export business, but it can be complicated and overwhelming, especially for beginners. That's why I've written "Understanding the Basics of Shipping in Import-Export Business For Beginners," a comprehensive guide to help you understand and navigate the ins and outs of shipping. With 314 pages of valuable insights, practical advice, and real-world examples, this e-book covers everything from choosing the right shipping method to dealing with customs and regulations. Whether you're just starting out or looking to take your business to the next level, this e-book is a must-read for anyone involved in the import-export industry. Click the link in the description to get your copy now and start shipping with confidence! Don't miss out on this opportunity to level up your import-export game. Thank you for all your support.
Let’s back our subject. You know what product you want to work with. And you have identified your target market. Next up, figuring out how much to charge. Typically, the business model of an import-export business includes two key understandings. First, the volume of units sold. And second, the commission made on that volume. Be sure to price your product such that your markup on the product (what ends up being your commission) doesn't exceed what a customer is willing to pay.
But you want to make it reasonable such that you are ever going to make a profit. In the import-export industry, importers and exporters commonly take ten percent to fifteen percent markup above what the manufacturers charge you when you buy the raw product. The more you sell, the more you make money. Keep your product pricing separate from logistics because, at some point, you combine the two to determine the landed price per unit. A good shipping company can assist here. Do not let this part intimidate you! Let's continue with the other step in our journey now.
Next up on how to start an import-export business is finding customers to sell to. Customers will find you if you have done an excellent job with search engine optimization on your blog or website. But don't rely on it. It would be best if you also went hunting for customers. Check with local contacts, such as trade organizations, the Chamber of commerce, embassies, and trade consulates. They generally have a good sense of who's doing what in the international marketplace. They can offer contact lists specific to your industry and suggest trade shows that are taking place locally and internationally that might help you connect with customers faster and more efficiently. At the same time, work on your social media and networking platform by posting information about your product or service and also asking specific questions about your audience's needs. This gets the conversation going and keeps it going while making sure it's related to your business. The point is to keep your business in the minds of potential customers worldwide. If you want to learn more about finding international customers for your import-export business, you should watch my video.
You can find the link somewhere here and in the description. Alright, my friend, let me explain a new step of how to start an import-export business. Your next step is to focus on logistics, shipping the product to where you will be selling it. By now, you have located customers who love your product, solidified the terms of the sale with them, and established a means for getting paid. Now you must ship your product. Hire a global freight forwarder who serves as an all-around transport agent for shipping cargo. Their service saves you a lot of time. And you can spend less effort, and all the works run smoothly for a very reasonable price. Based on your information, they take care of all shipping arrangements. It means their work is wider than handling documentation and arranging insurance. If you request, they work on determining necessary licenses, permits, quotas, tariffs, and restrictions. And believe me; these works can be one of the most complicated aspects of importing or exporting for a newbie international trader.
If you want to learn more about shipping for import-export business, I have a comprehensive e-book for you. You can find the link in the description. Okay, my friend, I will give you a useful tip. You should think about how to provide great global customer service. The relationship between you and your overseas customer shouldn't end when a sale is made. If anything, it requires more of your attention. Think of your after-sales follow-up on your import-export business as part of your product or service offering. The first step is to say wholeheartedly, whether in person, via Skype, Zoom, e-mail, or telephone: 'Thank you for your business!' Alright, guys, now you know the steps to start an import-export business. I will share the best export-import business opportunities in India. If you are wondering what you can import from India, keep watching.
I hope, you totally understand what I just mentioned. But if you have any questions on your mind, you can ask me in the comment below. Or if you need more professional advice or help, you can reach me via e-mail for my consultancy and coaching services. You can find the e-mail in the description. I will be really happy to see and meet you there. Alright guys, if you like the video, hit that like button. And if still do not subscribe, do not forget to subscribe to my channel. Thank you for all. I will see you in the next video. Take care. Bye.