Starting your own import-export business? 2021 is the best year to do so. The scope for pharmaceuticals, agricultural, and industrial commodities have been uplifting. There are multiple business opportunities open in the market today. What are you waiting for? Well! Probably the best and unique import-export idea! If yes, you are on the right platform. Today, we shortlist the most profitable business concepts that arise in 2021 and henceforth, opening new opportunities for Startups and newbies in the import-export industry. For further research purposes, visit www.Cybex.in for 100% authentic import-export data.
Let’s take at a glance:
#1: Craft import-export business online
Now that the entire world has been working from home, you may not want to invest in physical space to begin your business. And believe it, it is definitely a burden off your shoulder. You can instead begin your import-export business online. Start via building a website online. With a push on the side of your online company’s marketing, it would be easy for your company to acquire one-time or small-scale orders.
Henceforth, you can even start to store import-export products in your garage, for starters. When your business starts to escalate in the future, you can move all stored import-export products to a solid warehouse.
For small and online import-export, the approximate working capital you may need is around 2, 00, 000 Rs if you are starting small.
#2: Become a Sourcing Agent
When it comes to business, you are never sufficient. You instead need staff to begin with. Further ahead, you may need to hire part-time wage workers for small tasks such as unpacking or re-packing goods for examination purposes. What import-export idea is cheap? As of 2021, the requirement of sourcing agents in the import-export or international trade industry is high. A sourcing agent, as per the import-export industry, is a person who signs a contract with one party, promising to locate a product supplier or distributor (another party) who can import or export products they need or want to sell at a profitable price rate.
A Sourcing Agent, in simple words, acts as a middle man. When two parties save the deal, a sourcing agent earns commission from both sides. This business does not require any physical space, working capital, or website. You can simply begin it by researching online for companies looking for a sourcing agent.
#3: Direct Importing or Direct Exporting
Before you try your hands on Direct importing or exporting business, you must ensure to research on most profitable import-export products. At times, this list changes consistently. Now, apart from that, some products come under the 100% coverage of multinational companies. For example, products like iron ores and diamonds. Hence, make sure you have done your research well.
Direct importing or direct exporting refers to a type of business where you either import/export products in the first place. And then, you resell the products in your country like a retailer. Indirect exporting, the person purchases the product in bulk from the market like a wholesaler and then directly exports it to other countries.
Want a consultant’s advice on how to begin one of the above-mentioned business ideas? Get in touch with Cybex Exim Solutions’ experts online.