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If you're starting a business in which you have no experience, you need to find a partner or mentor who does have successful experience with the specific type of business you have in mind. Don't take the person's word for it that he or she has experience -- verify through references that they have done what they claim. Yes, you'll give up a portion of your profits to work with someone like this, but at least you'll HAVE profits. Without experienced guidance, you could get in deep trouble pretty fast in the import/export business. Good luck.
I happen to agree with Lighthouse on this one. Without taking on an experienced partner, you are risking a lot of liabilities. Especially with import/export businesses where you are dealing with many different regulations, different countries, and warehousing. If you have never done this before, or have the experience, why risk opening yourself up to lose everything? I commend you for seeking to take on this available option, just be smart and research it more and find a business partner. I'm sure you two will be able to work out a fair and affordable compensation plan.
I have been involved in importing, not only ready made goods but also goods made by companies to my specifications. There are alot of bad people out there so please be careful. I worry about any opportunity that pops up as you put it. It takes me months to track down a source for products. Then checking their background talking to their bank and other customers to make sure they are what they say they are. And if all goes well you have the U.S. Customs Service to deal with. Best advice there is to use a import brokerage service to bring the goods over. But then you must consider the size of the order most brokers only deal with larger shipments. But UPS offers international broker service for most size orders. By best advice would be to go to the U.S. Customs site http://www.cbp.gov/xp/cgov/import/broker_management/brokers.xml also https://wwwapps.ups.com/tradeability?loc=en_US&WT.svl=SubNav call them ask questions, they will help you along the way but please remember *DO NOT SEND MONEY *to anyone without checking them out first. Oh one more thing if their email address ends with yahoo or hotmail or any of the hundreds of other free email providers it's a red flag stay away.
Newheig, SUGGESTIONS You have received 3 great answers. Let me ask a few questions??
What is your background?? (like education and work experiences??)
How did you find out about this opportunity?? and how soon are you getting involved??
Do you know the company or people involved ?? Do you have an Accountant?? Lawyer??
Have you seen a Business or Marketing Plan??
These questions are for you to think about. If you want to share your answers with us,
then hopefully we can help you.
Good luck, LUCKIEST
This 'seems' to be an opportunity that popped up that may seem to good to be true and you want in. Be careful...these opportunities are presented especially to those who know nothing about whats being presented.
That is a good point DomainDiva. Things that "pop up" should be reviewed under careful consideration.
I am curious to see how far things have progressed for this person.
The best you can do is to talk or meet with an International Trade Specialist at the US Deparment of Commerce. They have offices throughout the country. You can find your local office by going to http://trade.gov/cs/
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But an opportunity popped up and Im going to take advantage. Where do I start and what do I do? I'm not an international business trader. I have no idea on the taxes that need to be paid when importing product and all the custom issues at hand. Any suggestions?