Depending on your line of business and the products you’re selling, there’s a chance that you’ll need to export your products for customers, business partners, or resellers abroad even if you’re still just operating as a small-scale enterprise. Global trade is quite competitive, so when there’s a demand for your product to be shipped to another country, you want to do it right and profit as much as possible.
Here are a few things to remember when exporting your products as a small scale business:
Know the Law and Restrictions:
Before you export your products, you’ll want to know if the product is legal or complies with any regulations and restrictions in the country it’ll be exported to. So, do your research before contacting a logistics company or upping your production to meet the demand in your target country.
When talking about exporting your products as a small business, you might be thinking about sending your products directly and individually to your clients. However, this can be quite costly in terms of shipping and would take a lot of time and effort to track individually. As such, the best way for you to sell your products abroad is to find partners who are willing to buy and sell the product for you in their country.
This way, you’d be able to send products in bulk, which is cheaper and more convenient for you. Having partners would also mean that you’d be able to sell your products and have you earn more consistently. Your partners may even be willing to process and pay for the shipping for you. But it’s also important that you do your research regarding your partners to know that they’re legitimate and could be trusted to avoid risk.
You may also want to have different packaging for your exported products; perhaps with better packaging or provide a translation of your product’s manual and other information (such as ingredients and nutritional value).
Decide on the Pricing:
Another thing you’d also want to consider when exporting your products is the pricing. Your pricing would depend on whether you’re selling directly to a customer or a partner. When selling to a business partner, you’d have to consider your bulk pricing and should also include all the costs related to shipping, customs, and logistics, as well as the cost of labor. The price should be agreed upon by you and your business partner in a way that you’re both able to profit while your business partners can still sell it at a competitive and reasonable price in their respective countries.
When selling directly to customers in an area where you don’t have any business partners, you’d want to make sure that your pricing stays competitive and covers all the costs for logistics. This could be quite tricky and you may want to ask for professional help when determining your selling price when exporting.
Choose a Good Logistics Company:
You’d be sending valuable products to your partners or customers in another country that’s miles away, so it’s important that you find a reliable company to ship it safely and make sure that it arrives on time to its intended destination without any hitch. As such, you will want to choose a licensed customs broker that would be able to store, handle, and deliver your products on time and also handle all of the necessary legal paperwork and customs clearances. The bottom line, is that you want to ship your products safely, legally, and on time.
Knowing how to export your product properly can be the key to turning your small business into a huge enterprise. As such, it’s important to keep these pointers in mind when you’re shipping your products abroad.