I want to start Import Business

Hey Fellas,
I am from the pink city"Jaipur",India.
I want to start my own business & I have been searching many options from last few months, now finally I have searched one.

Well I am a graduate in electronics & communications,so I want to dip my self in the same line.
I am planning to import electronics products such as projectors,interactive from Singapore & sell it to Indian market.I have heard that In Singapore one can buy electronics @ very good rates.I have heard that there are branded projectors at very low prices. So that can be good. I have talked to a few of whole sellers ,who will buy from me.


I am especially focusing on projectors &interactive boards because I think this market will pick up in near future.

Please guide me about this. I know I am missing a lot but plz draw my attention.

Regards,

 

you should call up the companies, check pricing, shipping cost, minimum buy, any other additional costs, tax, current market price for brands, what brand usually used in your country, support etc etc.
also storage is something to think ahead.

there are so many things involved in importing. you better off chat with an expert in this field.

 

check out the book by Guy Kawasaki "The Art of the Start". Lots of good tips. Best of luck!

 

So, you are going to be selling to whole sellers, right?

 

Have you completed all legal formalities before do it?

 

Be careful about getting "real" and not "knockoff" products. And be sure you have enough of a profit margin to make it worthwhile. You might start with something very inexpensive to keep your risk low--and learn from the mistakes you'll undoubtedly make (everyone does!).

 

Write your self a business plan. You should determine all your cost, marketing strategy, pricing,you should also look at other countries where these products are produced.

 

and also the market good for you.

 

check out a site called alibaba

 

Alibaba is a good site for sourcing goods to resell or for sourcing supplies for your business but you have to take care to do your due diligence & be careful because several buyers have already been scammed by individuals posing as companies whom they thought were reputable Gold Suppliers or so forth. Besides that if you were to scammed on Alibaba, Alibaba will only refund you a portion of your money back from funds owed from those individuals whom scammed you not the full amount that you have lost. I suggest you to take your time. If you can, travel to the manufacturer's location to see their facility, access their inventory and capabilities before you purchase a large quantity order because you need to find out any restrictions for importing goods into your country from other countries and how much it would cost as far as duties and tariffs are concerned to import the goods. Don't even mess with counterfeit items a big No No. Lastly work on you business plan and marketing strategy for how your going to move the goods & attract buyers to sell those goods too.

 

Nothing has helped me more over the years than my business plan. It's a roadmap to success. Literally.