Questions to Ask before Starting Your Import/Export Business

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?






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Source:http://www.dummies.com/how-to/content/questions-to-ask-before-starting-your-importexpor0.html

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