Your 1st Year In Import / Export.

Your 1st Year In Import / Export.

Last updated: 7/2008

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If you want to start an Import/Export business, you need to know:
7 Criteria for selecting products
6 Things you must do to clear U.S. Customs
The right shipping method for your business
Which payment structure protects you
Generate year-round income stream... even for seasonal products
Get new products alert from global suppliers
Avoid merchandise overstock with a multi-tier marketing strategy
Dear Friend,

If you'd like to get into the lucrative import export business, then this might be the most important month-by-month success roadmap you'll need.

You’ve always known import export is a very lucrative business. The concept is simple – buy something at low cost in one country, and sell it four, five, six times the cost in another country. Yet you’ve also heard horror stories of unscrupulous suppliers abroad, horrendous customs red tape, product quality surprises, inventory overstock …

Starting a new import export business is like planning a wedding. You need to become an expert in many areas all at the same time in a very short time. You have to learn how to evaluate products success rates, you have to be on top of quality issues, product packaging, Customs rules and procedures, marketing, pricing, etc – all very quickly and in a very short time.

Sometimes you wish someone could just give you a step-by-step checklist of things to do. With a step-by-step guide like that, you can focus on generating sales revenues, you can focus on your customers, on expanding your business scope, as opposed to researching the pathway for pot holes and land mines.

Let me share my story. My name is Myrtha Chang. I am a graduate of the Massachusetts Institute of Technology MBA program and I run a profitable import business in Newton, MA. But I didn't start off this successful with import export.

I grew up in Singapore and came to the U.S. in 1982 for college as a foreign student. For the first twelve months, I did not, could not buy anything that wasn’t mandatory college required material or supplies. Anything else that I did not absolutely need to stay alive or stay in school, I could not make myself buy because I was going through major price sticker shock! How could I pay $35 for a backpack when I know in my home country, I could get a similar item for $3? How could I pay $9.99 for 3 pairs of socks when I could get 3 dozen pairs for the same amount of money in my home country? A plain 4-legged chair for $24.95? I can get a whole rattan dining set for that amount of money.

At that time, my father in Indonesia had many connections to local Indonesian manufacturers through his work. He encouraged me to import products from Indonesia to the U.S. I definitely saw the profit potential. If you pay $1 for a widget, and can turn around and sell the widget for $5, that’s a no-brainer money maker. So started our string of ...

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