14 Apr What should I consider before making the decision to begin exporting?
Posted at 17:43h in
Did you know that you don’t need to actually export your product yourself? You can choose to export products yourself, or fill orders for domestic buyers. A good example of this is export trading companies that then export the product.
However you choose to export, it is extremely important to create an export strategy. A detailed and thorough strategy is integral to a successful planning process. Here are some things that you should note:
- Evaluate the export potential of your product
- Determine whether you are really willing to make a commitment to exporting to regional or international markets.
- Evaluate whether your product is actually ‘export ready’
- Identify key foreign markets for your products. This is possible through conducting market research
- Evaluate distribution and promotional options. Establish an overseas distribution system
- Determine export prices, payment terms, methods, and techniques
- Become familiar with shipping methods, export documentation procedures, export financing, and other requirements for exporting