How To Import/Export Cars For Profit
Business Overview
If you have a love for cars and are passionate about providing great customer service, you may want to look into starting an import/export cars business. The industry has opportunities for businesses of all sizes and has potential for unlimited profit. Relatively little experience is necessary to import and export cars other than general business sense and the ability to research the regulations involved. You don’t need an office to start, just a phone and a computer. There are a number of online information sources that will assist you when you begin looking into how to start an import/export business for cars. As a result of all the readily available information, you don’t need to be an expert in how to export cars to run a successful business. All you need are a few tools to jumpstart this business idea. First, you’ll need to watch the market to determine whether exporting from or importing to your country is more profitable. Next, you’ll use the Internet to promote your business, handle logistics likes converting currency and metrics, and connect to a dynamic network of import/export experts. Lastly, you’ll need to learn the regulations. Government requirements generally revolve around safety and emissions, ownership documentation, and insurance. Ensuring your vehicles measure up to these standards will save you thousands of dollars in conversion repairs. To keep your overhead costs low, you can also operate your business from home and use economical methods like buying from auction or wholesales. Just like that, zero to sixty, you’ll maximize your profits and secure long-term success in the import and export car business.
A Day In The Life Of An Import/Export Car Business Owner:
Owning your own import/export car business will easily conform to your lifestyle because you can operate your business from anywhere, whenever it works for you. On a typical day, you will work with customers to determine their needs and car specifications. Once you have agreement on the vehicle, you can arrange for shipping to the customer. You will also need to spend some time advertising or networking to promote and maintain your business. On some days you may spend a great deal of your time on the phone and emailing documents, and ensuring that you are up-to-date on regulations. You will be interacting with Customs to ensure that you have the proper documentation. You will be researching the retail prices of export cars in their country of origin, looking for auctions and dealers who can provide you with vehicles at low wholesale prices, and locating overseas dealers and individuals who are ready to buy cars you export. Marketing your business will also be important, but word-of-mouth marketing should increase your business considerably.
About Your Customers
Your customers will be individuals or dealers/importers seeking vehicles from countries outside their homeland. Some customers will be new at this process and only need to interact for one vehicle. Others will have experience and partner with you to obtain several vehicles.
What You Need to Start
- Computer
- Internet connection
- Investment money for first car
The Good
- Return on investment is high.
- Start-up and overhead costs are low.
- This business offers very flexible work.
- There is no formal training required.
- There is a lot of opportunity to interact with a number of different individuals and agencies, both domestically and abroad.
The Bad
- Failure to follow regulations can be costly.
- In this business you must do your homework so that you know what a car is truly worth.
Resources
- The Federation of International Trade Associations
- Bureau of Labor Statistics Import Export Price Index
- Department of Homeland Security U.S. Customs and Border Patrol
- Government Links to Import Export Business
About The Author
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