Today’s small business owner must be willing to look at alternative methods of growth. The world of commerce is changing, especially in areas such as importing and exporting of goods. The docks and ports are not exclusive to big businesses anymore. If your business warrants it, you should be taking advantage of the import and export markets for potential growth opportunities. Opening on two fronts allows your reach to be further spread across the world. It’s also key to balance out the domestic market woes as sales in the country you’re based in might go down.
Why would you import?
For some small businesses, it makes sense to export. It aids in increasing your consumer base and getting your name out there in the world. You can’t grow in a bubble. Contacting and meeting with vendors and distributors that will sell your products makes perfect sense. However, importing is also a great idea because of the reverse benefits. Buying products from another company and being their seller will increase your sales as well. This is especially true if you can incorporate the product into your own business.
Say for example you own a restaurant business. By importing provolone cheese and using it as one of your products, give you a unique selling point. Customers will come to your business because you have something no one else has. This is why imports can be just as lucrative as exports, but incorporation is the key. Very rarely will you be selling the imported product on its own.
The physical journey
There is a current debate on whether importing is more difficult to do than exporting. With exporting, you simply pack the goods into export containers and hire a company to pick them up. However, for importing, you have to determine the physical journey of your goods and how to transport them. That’s why companies like Ranger are always needed to load containers onto trucks and even freight trains. Their heavy lifting services use strong and thick chains to pick up extremely heavy containers and place them on 18-wheelers and flatbed trucks. Traveling by road is very cost effective especially for long-haul deliveries.
Marketing the imports
Customers get excited when they learn there is some exclusivity to their purchases. Be sure to market the imported product in a creative way. Comment on the on their unique value of the product. A custom furniture company should market the imported high-quality German leather they are using. Point out the differences to what other companies in your industry use. You may also be able to justify a higher price because of the rarity of your product. Customers can see that you went through a lot of trouble and effort to obtain it. This can help make your business more exciting and exotic.
It’s a daunting task to open your small business up to importing and exporting. However, because of globalization, your options for rare quality products are rare. Therefore, you need to keep an eye on both the domestic and international markets. It’s true that exporting is easier but importing isn’t an insurmountable challenge. It makes your products unique and also justifies the higher prices.
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