Trading is one of the earliest forms of commerce. Due to the advancement in technology and transportation, people can now import and export products easily for a living. If you decide to start an import-export business, one of the many things you’ll need to decide is what kind of products or services that will you offer to your target customers. To maximize profits, here are some of the best business ideas you can consider.
5 Most Profitable Import-Export Businesses
1. Construction Materials
Outside of common construction materials, there’s a good demand for other materials that are limited in supply or not available locally. For instance, according to studies, there’s a growing demand for homes with gardens and outdoor living spaces in the UK. Because of this, people will like to get their hands on materials, decorations, and supplies for improving, renovating, or building their backyards. It’s the same reason why flooring companies, such as composite decking businesses, are seeing continued success. To take advantage of this fact, you can import materials, such as decking boards for homeowners and contractors. You can also buy plants and decorations unique to other countries and resell them for profit.
Electronic gadgets, like smartphones and their accessories, are some of the most sought after products. For instance, smartphones have been a significant part of everybody’s lives. Not many countries produce them due to the complexity and high costs. However, you can find many import opportunities in countries where they manufacture and assemble parts. Of course, you’ll also find lucrative opportunities to import accessories intended for use with these electronic gadgets, such as phone casings, headsets, speakers, keyboards, mice, and other computer peripherals. You purchase many of these products for cheap in bulk and resell them for a higher price.
Another popular and profitable product for importing is cosmetics. These products will always be in-demand, especially within the female demographic. Some of them can be quite expensive to buy locally. The good news is, you can buy them cheaply from overseas manufacturers and sell them for profits. Skincare products, perfume, and hair care are a few examples of products that you earn profits from importing. Of course, you’ll need a reliable supplier or manufacturer with excellent pricing to be able to profit.
4. Handmade and Customized Products
When it comes to exporting, there’s plenty of competition in the market. One of the ways you can stand out is by producing your own items for export. If you’re talented in making unique handiworks and customized items, you can find many opportunities to sell them worldwide. For instance, you can sell handmade clothes, customized ceramics, beautiful woodworks, or even handcrafted novelty items. To be able to market them, you’ll need to create your very own online shop. You can also use platforms such as Amazon, eBay, and Etsy. Making your website or a social media page to increase your online presence is also worthwhile. With a website or a page, you can showcase your products, find potential customers, and get feedback and suggestions.
5. Import-Export Broker
If you think you’re not ready to export or import items, there are other businesses you can start within the import-export industry. One example is becoming an import-export agent or broker. For this, you don’t need a lot of capital for the business to be lucrative. Instead, you will need connections and a good network of other companies that needs importing and exporting. Your role will be to help import-export business close deals with others. For instance, you may find someone in the UK that’s planning to sell their products and looking for overseas buyers. Your job is to look for potential customers for that business. Likewise, it can go the other way around, you looking for a company for someone who wants to buy imported products. In this job, you’ll earn a commission for every deal or transaction you help to make. This business is one of the cheaper and profitable ways to enter the import-export industry.