Questions to Ask before Starting Your Import/Export Business - dummies

Questions to Ask before Starting Your Import/Export Business

By John J. Capela

Part of Import/Export Kit For Dummies Cheat Sheet

If you’re considering entering the world of global trade by starting your own import/export business, ask yourself these important questions to see if ready to commit your time and money to the venture:

  • Why are you thinking of starting a business, and what makes you think you’ll be successful?

  • How much money will you invest and how much will you earn?

  • Will you be starting part time or full time?

  • Do you plan to import, export, or both?

  • Will you work as an agent or a merchant?

  • What will be your company name and form of organization?

  • Where will your base of operations be? Where will you locate your office?

  • What will be your business telephone number, mailing address, and fax number?

  • What type of products will you choose to deal in?

  • Who will be your suppliers? What companies will you deal with? In what countries?

  • Who will be the consumers/users and buyers of your products?

  • How will you handle distribution? Set prices? Promote yourself and your products?

  • Which method(s) of international payment will you use?

  • Which means of international transportation and insurance will you use? Which shipping terms?

  • Who will be your bank? Your insurance company? Your Customs broker? Your freight forwarder?

  • Which U.S. and foreign government regulations will you be concerned with?

  • What sources of information and assistance are available as you begin and as your business grows?