What factors should I consider before starting an importation business

[Erik4150]

I want to start importation business next year and I want to know what factors I should consider before starting this business.
Is there any risk involved?
What are the best products to import?
Is the cost of importation too expensive?

 

[Olajidey]

well with the knowledge i have with importation
the best product that sells is fashion accessories, sex enhancer and weight loss gadget
[automerge]1608803091[/automerge]
well with the knowledge I have with the importation
the best product that sells is fashion accessories, sex enhancer and weight loss gadget or supplement
another thing is to look for a genuine agent to reduce cost and avoid goods misplace.
Yes, the cost of importation is not really expensive but it has increased due to the situation of convid.

 

[Bilal0087]

Before starting any type of business you must keep three things in your mind.
1st that business related to your field or your interested or not? second one is the business which are you are going to start have demand in that society or not?
3rd is what factors could lead to destruction in your business always avoid from

 

[maventiger]

Mini important is lucrative. However, due to the recent happening(Covid-19) you have to focus more on essential products that has high demand due to how necessary the are to humans.

 

[Dubai]

Before starting an importation business you need to known exactly what you want to import and how much it will cost you both for the goods and cost of transportation. Then organize a means to which you can achieve this.

 

[EagleEye]

Definitely need to look into government rules. Import taxes are a big one, you would have to base your pricing on these

 

[Adeyoola7]

Why you want to import?

Do you want to source goods that are not available in your country?
Overseas suppliers offer better prices than your local suppliers?
Do you want to import components to use in your production process?
Do you want to import finished products to resell?

What kind of relationship you want with your suppliers?

Building a relationship with an overseas supplier requires an investment of significant time and money. It may not be worth using a new supplier for a relatively small, one-off purchase.
Finding overseas suppliers will add to your costs.

 

[Ajibade]

The factore you are going to consider is capital what i mean by capital is money you are going to provide enough to start the business for you to get alot of profit and your needs most not be in business money

 

[Tunnexisco]

Actually, importation business has its Pros and Cons factors that needs accurate consideration before an attempt is made to embark on it. Those factors can be quality to quantity, unavailability product, brands, durability, company name, trending products, bill of exchange and cost of commodity.
It is not that risky, and the best importation products in terms of Nigeria i can recommend are phones, electronics equipments and gadgets, cars, refrigerator, washing machines and laptops.

 

[joy101]

Before starting a business you need to know the types of business you want start, think about what the products which you which to start. You should also know exactly what you want import and how much it will cost.

 

[Aniwhyte]

If you planned starting an important business you should first of all look at the cost of transportation as if not looked into properly could eat up all the profits you would be making in the business, secondly importation of phones, accesseries, cloths etc are all very lucrative.

 

[Hasan Raza]

I want to start importation business next year and I want to know what factors I should consider before starting this business.
Is there any risk involved?
What are the best products to import?
Is the cost of importation too expensive

The beet

I want to start importation business next year and I want to know what factors I should consider before starting this business.
Is there any risk involved?
What are the best products to import?
Is the cost of importation too expensivst?

The best factor is the capital you must have enogh capital to start your business. And you must summarize about the type of business which could be done easily in your country.
You must consider 4P,s of marketing Product, Price,Place.

 

[chalcedony8]

you need to consider a lot of things before starting an importation business, you need to be sure you have a steady supply of what you are planning to be importing and most importantly you need to be sure you have enough capital

 

[Nimra Saeed]

I want to start importation business next year and I want to know what factors I should consider before starting this business.
Is there any risk involved?
What are the best products to import?
Is the cost of importation too expensive?

Import and export business is one the highly paying business. If we start importation business with such a country whose value of currency is lower than our country's currency value then it will pay us a lot of profit.

 

[Erik4150]

Thank you to everyone for th wonderful suggestions. I have been following the thread and I'm happy with what I'm seeing. I will consider importing only the hot selling products especially women products. The faster I sell the more profit I would make.

 

[Golden_ear]

Doing importation business requires that one need to have customers that are ready to buy items you want to sell. Also one must promote the business brand across different social media. Then one can make persistence sales and make more profit.

 

[Trexxxy]

Any business venture comes with risk. I think you should decide what products you want to import, perhaps a product that you feel will sell best in your market . Another thing is to get a good supplier, so that you can be rest assured that your goods are on the way , I believe that you should also asked about how much it takes to clear shipped goods at the dock.

 

[Holluwaphemmy]

Firstly you must have a competent, loyal, devoted and trustworthy source where you can import at a given rate. Then consider the distance of the cargo to the market where you sell those products

 

[Patrik]

you should see if the price that you are going to set in your local market is perfect for the local buyers, if not, then don't import goods that you can't or won't sell

 

[Adexgrace]

Before starting an importation business the major factor one must consider is the demand of that particular goods. One have to consider the rate qt which people need the goods before bringing it into the market to enhance the contiunal growth of the importation business.