Yes...that's almost a must.

Also, go to the local University and ask if you can sit in on a Business Law class or two. Hit the Public Library and get some books.

 

import companies also tend to attract organized crime. This of course depends on where you live.

For that competitive edge, the dock workers may want a cut, too.

I really don't advise doing this without knowing what you're getting yourself in to.

Importing by and large is a clean business, but I'm just pointing out risks. The bad element can prey on the small guys.

 

[QUOTE=steven975,Jan 25 2007, 10:03 PM] import companies also tend to attract organized crime.

 

If you are wanting to start a business of importing or resale it's pretty easy. I don't know what some of the other posters are talking about. The easiest way to get started is to figure out what you are wanting to import, speak to a company that manufactures it (to see if they will actually sell it to you) work out the pricing for said product and placing an order with them. I would venture to say that 95% of asian companies would want their money up front (meaning 50% on order and the remainder at dispatch) some will give terms or letter of credit, but not in the beginning. You will then need to set up an account with a freight forwarder (Expeditor's as an example) and they will take care of getting the product through customs and to your door. If you aren't sure who the actual manufacturer is, contact the U.S. Embassy in that country and they can provide you with a list of manufacturers of certain products. There are also some websites that will tell you who manufactures different types of products for resale (alibaba.com is one). Oh yeah, you will need to have a business set-up with your state and the fed's for reselling purposes. The hardest part is importing something that people actually want to buy...I left some bits, but you should get the general idea.

Sam

 

Just out of curiosity, how old are you?

Judging by your posts, and not sugarcoating it for you, you will lose all your money inside of 6 months. You dont know the business, and that in itself, is guaranteed doom.

Unless you know ALL the ins/outs of ANY business, youll never succeed.

 

PM me, we can talk. i have a lot of experience in importing stuff here big & small for companies as small as Import Development (yours truly), and as big as my current one ($10B company). there are a few questions you need to answer before jumping in, and this is NOT an easy business. there are hundreds of thousands of importers (trading companies) that come & go.

 

Nuts!

I was going to post that you should talk to mingster.

 

where do you mainly import from? i may wanna talk to you in the future sometime

 

 

alibaba.com