Every new exporter wants to know the answer of how to start Export Business. There are lot of requirements and knowledge required for the new exporter at the time of starting their own export business.
To start an export business, first of all we have to check that which products, we want to export. An exporter has the complete knowledge of foreign market and knowledge about the demand of selected product is in which country and you have to touch the country one by one on priority basis. An exporter has the complete knowledge of International Laws at the time of starting the export business.
An exporter has to consider the best competitive price at the time of exporting the business. If the selling price is competitive as compare to other suppliers there is good chance that you will receive the order from the Customer. Try to get the raw material of your product at the best possible price so this way you can reduce your cost which helps in selling of your product at the low price in the world market.
Export of any product in the world market is good and profitable business as company to sell of any product in the domestic / local market. Most of the companies who are selling their products in the local product want to export the products in the world market.
Export of products to the overseas market increases the profit and foreign exchange. The Foreign Exchange brings profit the company which is exporting and also improves the economic condition of the exporting country.
Export of products to the overseas market increases additional markets.
Good tax advantages for the export of products to the overseas market.
Export of products to the overseas market increases productivity.
Exporters gets the premium price in some countries for their products.
There is less competition in some countries for the export of products to the overseas market, this way an export can earn a higher profit.
To export the products to the overseas market is both fun and challenge. If any exporter visits one customer to sell his exporting products, he can have good opportunity to visit new customers for the same product.
To export the products to the overseas market is full of learning.
Economies of scale - If an exporter increases the production of his export products than it will cut down his total production cost to sell his products in the overseas market.
Exporter doesn’t face any problem in seasonal slowdowns. If exporter selling the products to the overseas market and getting regular orders, it help to sell the products in their off season also.
Exporter Company has more growth and higher profit as compare to the company who are selling their products in the local market.
An exporter don’t face any problem if there is any market crash in one country, it may not affect their export market of other country.