The business focuses on the import of toys from China and selling them to resellers (retailers or online sellers) in our country.
Now that the government has been supporting the growth of business in our country, one field that has been seeing a boom is the export and import business. With the advent of ecommerce, business has become easier than ever. Therefore, it is not surprising to see that very small entrepreneurs have also entered the field of export and import and are doing a great business. Importing toys from China and selling in our country has become very common. However, the business is still doing well, as the demand is growing continuously.
Initial investment is low.
Business has a huge potential of growth.
Business can yield good profit.
Business can also be started as a part-time job.
Advent of ecommerce has improved the scope of business.
Business must be registered and an IEC (Import and Export Code) must be obtained.
Sometimes there is a risk of loss of the products or the money due to transportation problems.
Import of the products needs a lot of formalities and paper work.
Customs duties need to be paid while receiving the products.
Any person who wants to establish the business must prepare a proper business plan. He/she should be aware of the formalities required before starting the business. The person should also have good negotiation abilities to obtain the products at a good price. Good networking with resellers in our country will help in selling the imported products with ease.
Import and export business is an excellent opportunity for people who want to earn good profit with less investment. Once the business person becomes accustomed with the entire process, the scope of growth is immense.