You, as a small or medium-sized business owner, want to experience growth and achieve the next level in establishing your name in the community you serve. But you may be often left wondering what to do next. You are doing all that the guidebook is telling you to do, but still, something is missing. You comb the books and sales are good, but there is a difference between good and great – and you want to be great. But why should you consider imports as an option to give your business the boost it needs?
Opportunities to Advance to the Next Level Through Imports
As a business professional, you already understand the principle behind how business works, so we can forgo the preliminaries. Let’s straight to the meat and potatoes of how the consideration of imports can work for your SME.
Imports help a small business by:
- Introducing New Products to Market – Not everything is MADE IN THE U.S.A. Some products you can only find abroad. When you find the right product, you can introduce it to your customers and boost sales. However, to get these products for your retail establishment, you need a trusted name to make a connection with the trusted products.
- Reducing Costs – Let’s be honest. Most of the reason many retailers purchase abroad is cost. There is often a higher profit margin on foreign products.
- Providing High-Quality Products – One of the greatest misnomers is the foreign products are of poor quality. While for some products this can be true, but not all.
- Increasing Sales Potential – When you involve imports as part of your marketplace, you can then promote those items. In turn, these new products will increase sales through your visitors, throwing that extra item into their cart. Impulse buying is one of the most significant measures to increase sales.
Challenges of Considering Imports for Your Business
With all opportunities, there come obstacles to overcome. Considering imports for your business is no different. As an entrepreneur, you must consider how introducing anything to your ordinary course of business.
- The Shop Local Crowd – We all want to support American made products. We all want to support our local communities. So, when offering imports, there can be a bit of negative feedback at providing a less expensive alternative to an American product next to an import.
- Shipping Issues – While this is not always an issue, it does occur. Weather, civil unrest, and shipping vessel incidents do occur. This can cause delays or loss of shipment events.
- Insurance on Goods Purchased – What you may not know is that special insurance may need to be purchased if you plan on doing business internationally. This means you need a partner that can help you know where gaps lay.
- Understanding the Rules – In addition to insurance, there are also certain rules, regulations, and other costs (tariffs, freight, processing fees, etc.) associated with imports. This can be an instant turn off, unless you know the right people that can steer you through all the red tape involved.
This is where you need a partner like TradeLeaves, Inc.
The Final Word
When you are ready to stop considering imports and move into acting on implementation, you need a trusted entity like TradeLeaves to get you started. TradeLeaves understands the intricacies of running an SME. The TradeLeaves platform has:
- A recommendation engine that pairs your business with products that best suit your niche.
- Connection to Verified Sellers across the globe that that have been through intelligent ratings and reviews.
- An eco-system that has trusted service providers such as inspection agents, freight forwarders, and customs brokers and provides the information regarding knowledge of rules, regulations, and the costs associated with conducting business.
- Real-time access to all your shipments worldwide.
- Secure international payment platform with escrow.
- Access to a vast information and knowledge base.
A subscription can be purchased via our website that will give you instant access to all products available. There are five different service levels, each based on the size of your business, and the individual need you are seeking.
Our motto is to Connect – Trade – Grow. And we aim to help your small and medium business do just that through importing goods. For a limited time, you can experience our quality service free for six months. Visit our site today.