International Trade ECommerce Articles | February 10 Wholesale Kenny Golladay Jersey , 2006 Breaking into the international marketplace can catapult a company into increased profitability and growth more rapidly than when selling to a domestic market.
If you operate a small business, you may feel that your income potential is quite limited. However, you can increase and diversify your income through international trade.
1. ImportingRetail store owners can find additional products to sell from foreign manufacturers, distributors, and other suppliers.
Advantages of importing include increased product selection Wholesale Jarrad Davis Jersey , lower costs, and increased income.
You may even decide to go exclusively into the import business and become a wholesale distributor.
2. ExportingManufacturers can find new customers for their products in foreign countries.
Perhaps consumers in your country have lost interest in your product. It may have become obsolete because of technological advances. A foreign market, however, may be desirous of that very product.
Maybe there is an economic slump in your country. Another country may be experiencing a boom. Sales from customers in that country may help stabilize your income.
Exporting can also help smooth the peaks and valleys of your income. For instance, if you sold winter sporting goods Wholesale Marvin Jones Jr Jersey , you could sell to both northern and southern hemispheres to help offset the seasonal nature of your business.
Of course, you might also consider selling sporting goods for all the seasons and still export to other countries to increase and diversify your income.
You could also become an Export Management Agent. Arrange for other domestic companies to sell their products to foreign corporations and earn a ten percent commission.
You would think that selling to foreign customers would be quite risky. However, use of letters of credit can protect all parties. An Export Management Agent might actually arrange for ninety percent of the sale to be paid directly to the domestic supplier and ten percent to be paid directly to him.
3. LicensingConsider becoming a licensing agent. Earn royalties by arranging for foreign corporations to manufacture and sell the products of domestic companies.
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