Launching a Profitable Transaction: Introduction THE NEXT FIVE CHAPTERS EXPLAIN THE BASICS OF IMPORTING AND exporting. They apply to manufactured products as well as the growing service industries such as computer software, construction engineering, or insurance. These basics are the bridge from producer to buyer. This bridge has been in place for many years,...
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CHOOSING THE PRODUCT The question asked most often is, “What product should I select to import or export? Should it be rugs or machinery?” Keep it simple in the beginning. If your firm already manufactures merchandise or provides a service, that product or service is what you sell. But, for your own import/export business,...
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MAKING CONTACTS Importers and exporters need contacts to get started. The exporter must convince a U.S. manufacturer of his or her ability to sell the manufacturer’s product or service internationally. The importer, on the other hand, must find an overseas manufacturer or middleman from whom to buy the product or service. Contacts are classified...
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MARKET RESEARCH Market research is vital to the success of your international import/export business. Is your product salable? Does anyone care? You must be able to sell enough of the product or service to justify undertaking the import/export project. If you are presenting a new product, you might have to create a market. A...
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INITIAL QUOTATIONS Initial quotes begin with a “request for quotation” (RFP) sent by the importer to the exporter or with an unsolicited offer from the exporter. A simple letter or telex can be a request for a quotation. Figure 2-1 shows a sample letter of inquiry. A pro forma invoice is often the document...
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