If you are someone who wants to venture into business but don't have the capital to jumpstart you in, don't worry, there's a lucrative business that you can venture in, yes, I am talking about the import/ export business. Though this business demands good mathematical and organizational skills and great attention to details, this business doesn't need you to have any previous training for you so begin.
Yes, this business involves the use of great capital but here's what a lot of people don't know, you can actually do about this with the minimal use of money. I know, it sounds a little impossible to be real. This is possible if you know how to use other people's money or what we call OPM. And with determination and belief in yourself even if you lack the financial resources, you can start this business right now!
Here's how to do it. The first thing you need to do is of course, choose a product that you think will sell to the public and a lot of people will want it. If you have that, you then contact the manufacturer for samples, catalogs, and pricelist and then ask them for the price if you order by bulk. Of course, there is no need for you to travel to the place where the manufacturer is, you can do this at home through the internet.
After you have negotiated the price and ironed all the details with the manufacturer you then ask them for samples. Some manufacturers will give these for free and others will charge you but only with the factory price. Whichever, obtaining these samples, catalogs, etc, is not hard. When you get all these details, it's now time to find a buyer for your products. The buyer does not necessarily have to be from the US, it be anyone from around the world. Let say the product that you are selling is a cellular phone widget and you found a buyer from Germany which happens to be a German Retail Chain that has a substantial business
Now, lets assume that the electronic widget you are selling costs $20.00 and takes 0.1 cubic feet of space. Based on these figures you can ship abut 23,000 pieces of the product on a 40-feet container, the cost of this cargo container is about $460,000.00. Yes, I know, you may be thinking, I thought there's no big money involve here? Well, continue reading, you sell the shipment t to your German buyer for $25.00 each which will amount to $575,000.00. The profit you will get from this is $5.00 each item which will total to $115,000.00.
Then, you ask your German buyer to open a L/C or a letter of credit to your bank in the amount of $575,000.00, which is the total of cost of the shipment your German buyer has to pay. Now, you instruct your bank to issue a L/C to your manufacturer in the amount you are paying them which is $460,000.00 in this example, with instructions that when the shipment arrives in Germany and has been cleared by the customs and has been received by the buyer, then the money will be released. You might be worrying if this will pull through, know that the import / export business is mainly done in Letters of Credit.
There are some aspects that should be taken into consideration like the bank fees, import duties and freight. You can deduct these costs from your profit or to the buyer or sellers invoice, this would depend on the negotiations of the parties involve.
Import / Export business is really one way to earn big, and with determination and good guidance, the road to success in this business is not a hard road indeed!
