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    6 Replies Latest reply on Jan 30, 2010 10:27 PM by smfameimagine

    My own business

    wantmyown Newbie
      Hi everyone!
      I feel so blessed to have discovered this site where there is so much information available to all of us.

      I worked for this company for 10 years until they laid me off. A year later they called me back just to have me as a temp. I don't see any probability of them hiring me back as a full timer. I am making "some" decent money, but I believe is MY time now to decide what it is that I want, and where I want to be in the future. I am originally from South America, and my home country is known for its textile industry. Several of the high-end labels manufature their products in my country. As I'm thinking about opening my own boutique for lingerie and active wear, the thought have crossed my mind about becoming a distributor, instead of having a boutique. I have made contact with this manufacturer, since its distributor in the US has not made any attempts to contact me. I was willing to submit a first order for my boutique, but apparently I do not have a trusted distributor here I can rely on.
      This manufacturer has been in the lingerie market for more than 20 years, and its product line is broad, which means more options on my side.
      If I was to travel to my country and purchase my first order for my boutique, how would I go about bringing this merchandise to the US? Does anyone know the cost, other than freight, for importing textile goods in the US? I'm anticipating about $2,000 for my first order.

      Thanks in advance!
      MK
        • Re: My own business
          Tracker
          Hi MK,

          Congratulations on taking your first steps to develop a business of your very own. But please do continue to stay with your employer, even as a temp, while you work on getting your business launched and established.

          One of my clients is originally from Africa and I helped him with his business plan to launch his businesses; one of which was an import/export business. A good basic education resource that he found useful was a business start-up guide called:

          "Make success to come to you! Start your own Import/Export business." Here is the link to the site that sells that business guide:
          http://www.smallbizbooks.com/c/s/00021.html

          I bought a copy of it as well so I could help me with how to apply what he learned from it and how to apply that to some of his business plan. You might find that business start-up guide of use to you since importing can be a tricky process and you will want to learn the basics and fundamentals so that you get a solid start. If I recall correctly, it has a list of resources and ways to calculate your costs to import goods into the US.

          You've probably thought of this but I'd be remiss not to suggest that you try to "pre-sell" as much as you can so that you don't have inventory cost that you have to carry for too long. I believe one of the keys to getting a good foothold in the business you are entering is to be able to "turn" your inventory (in other words sell it quickly) and have adequate margins since early on you may not have high-volume of sales and will not steady cash flow to keep things moving and with enough profit to allow you to grow the business.

          I hope the above helps you in some way.

          Dennis Lowery
          Adducent, Inc.
          • Re: My own business
            shallom22 Newbie
            Hi,

            Before you venture into your new business you need to do a thorough market research on the particular type of business you want to engage into. Is there a need for your type of business or you just like the business. If there is a gap in that line of business and you feel that starting your own will fill, then carry on otherwise look before you leap.

            As regards the cost of importing textile here is a link that you might explore www.usitc.gov take a tour of the link and get all the information regarding your textile importation into the USA. They will give you the customs duty and tarrif you will pay.

            When you are done with the research you now make your business plans. All you need is know the amount of funds at your disposal and tailor your plans to fit your financial budget.

            Good luck
            • Re: My own business
              phanio Pioneer
              Costs can very - hard to pin it down. Much depends on the manufactuer (are they busy are they not), where the good will be marketed (each market has its own unique costs), how long you will hold the goods before sale or how long it will take you to sell them, etc, etc, etc. You really need to sit down with someone face-to-face and try to work on all the scenarios to determine your costs.

              Here are some good likes to help you better understand importing goods to the US:

               

              www.business.gov/expand/*import*-*export*

               


              www.tradekey.com/c_*Import*-*Export*

               


              www.*importexport*help.com

               


              http://www.exim.gov/

               


              U.S. Commercial Service (buyusa.gov/home/export.html)

               

              Best of Luck:

              Business Money Today
              www.BusinessMoneyToday.com
              • Re: My own business
                smfameimagine Adventurer
                hello... if needed I can help you get high end clothing to the US. I have been working with my firm which is based in turkey, we cater to customer needs and can provide you with any amount or type of clothing you need. I am based in North Carolina, so please feel free to call me: 919-412-5845. thanks.