How to start an importation business?

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Feb 22, 2024

• #1

Starting an importation business is lucrative venture provided it is approached strategically and you should also put into consideration various factors that may affect it. One major disadvantage in starting in an importation business is the potential for assessing different kinds of product and goods that are not readily available domestically because that is how you can quickly make money from the business.

 

nomad

Very Familiar

Member

Jun 22, 2022

10,961

512

Dex

$0.010

Raw Dex

$0.600

• Feb 22, 2024

• #2

You need a lot of money to import products, you also need a marketing skills to sell your imported products. ON the top of that you need to fulfil a lot of legal formalities.

 

Starmix

Popular

Member

Sep 2, 2022

30,182

3,699

Dex

$5.100

Raw Dex

$0.142

• Feb 23, 2024

• #3

You need to investigate first the requirements needed to have an importation business, the personnel in another country who handles the export-import. It is risky and needs huge capital. You also don't know their culture.

 

eldavis

Very Familiar

Member

Sep 4, 2022

15,114

665

Dex

$0.000

Raw Dex

$6.476

• Feb 23, 2024

• #4

When it comes to starting a business in general, cause I believe all business are important. The things you need are your business plan and the capital needed to push the business.

 

fcbetting

Notable

Member

Jun 16, 2022

4,918

358

Dex

$0.010

Raw Dex

$4.820

• Feb 23, 2024

• #5

First is to get approval and license from official provider in home country of product. Second is get licenses from country where you will import it. Some can block you if there is already official provider or they think market will become saturated.

 

S

Springtime

Well Known

Member

Dec 22, 2022

7,929

294

Dex

$1.340

Raw Dex

$0.105

• Mar 30, 2024

• #6

While an import business can be profitable, it requires considerable amount of investment, and have the good connections with the suppliers of your products. You also have to observe different regulations regarding importation of your products.

 

C

Clandestine

Unfamiliar

Member

Sep 10, 2024

368

3

Dex

$0.000

Raw Dex

$0.000

• Sep 14, 2024

• #7

An importation business is a very sensitive kind of business that requires so much documentation for it to work.

 

U

Unyime

Somewhat Known

Member

Jun 18, 2024

752

8

Dex

$0.000

Raw Dex

$0.200

• Nov 14, 2024

• #8

Starting an importation business requires that one gets registered as an importer and understands international standards of production for his export goods.