Start Your Own Successful Import Agency Business - Export India

Start Your Own Successful Import Agency Business

  • Module 1: Setting Up Your New Agency Business

    In this module, you'll learn how to set-up your business, what start-up costs to consider, how to conduct market research and how to identify worldwide suppliers.

  • Module 2: Establishing What Type of Agent You'll Be, Introduction To Agencies

    In this module you'll learn how to contact potential buyers, the advantages and disadvantages of trading as a commission agent, a stockist agent, a general importer or a procurement agent.

    • Lecture 1
  • Module 3: The "How To" of Buying and Selling

    In this module you'll learn about various sales outlets, best practice for visiting potential buyers, how to conduct follow-up visits and advertising tips.

    • Lecture 1
  • Module 4: How To Negotiate

    In this module you'll learn how to be a successful negotiator by setting a winning strategy.

    • Lecture 1
  • Module 5: International Trade Basics - What You Need to Know

    In this module you'll learn about Incoterms 2020, what's involved with third-party logistics providers, the importance of pre-shipment Inspection and review your checklist.

    • Lecture 1
  • Module 6: 12 Online Hacks For Your Business Website

    This module gives you some tips on how to setup your website and online marketing without wasting time and money.

    • Lecture 1
  • Document Library

    A Practical cost sheet, example request for a quotation from suppliers, example request to become a stockist agent, example request to become a commission agent, example request for an Air freight quotation, example request for a sea freight quotation, a visit report sheet and example of a non-circumvention clause.

    • Lecture 1
  • Case Studies
    • Lecture 1
    • Lecture 2
    • Lecture 3
    • Lecture 4
    • Lecture 5
    • Lecture 6

Video Length: 22m 40s

In today’s business environment more and more people are looking for personal achievements and to forge their own future by using their abilities and drive to achieve their business and financial goals.

They want to be masters of their destiny as job security is quickly becoming a thing of the past and relying on someone else to map out your financial  future and personal growth can be a gamble a frustration.

Entrepreneurs of all ages are now turning to the idea of starting up their own business, going it alone and finding their own financial independence.  There are many ways to achieve this goal, such as becoming an independent consultant  in your chosen field, a retailer or establish a career as an agent.

This course will concentrate and focus on how to become an agent.

The majority of people who contact ABTS Training Services wishing to set up an agency business ask the following common questions:

  1. How do I set up an agency?
  2. How much capital do I need to invest?
  3. Can I work as a part-time agent?
  4. Should I trade as a commission or stockist agent?
  5. Can I make money as an agent?
  6. What product(s) should I represent?

The first question is easy to answer, the other questions need more in-depth discussion.  This course will address these questions and many other subjects associated with becoming an agent.

So much has been written about trading as an agent and in the main, paints a very false picture. The business has been over simplified with glaring headlines such as,  “How to make £1000.00 per month part time working from your home  a few hours every evening”.

We’ve all seen such advertisements on social media.

The reality is, it couldn’t be any further from the truth.  It’s bait to attract you to join  their  agency course and spend your money with them.

For over thirty five years I have managed successful agencies and helped hundreds of people to to the same.  It’s all down to hard work and knowing what you are doing, to earn a profit and not make a loss.

This course has been designed with 35+ years of experience to help you to realise your dream of becoming a successful agent.

Above all I hope the course demonstrates to you the any successful  agency business is premised on hard work, dedication and an in-depth knowledge of what is required.

We address four types of agencies:

  1. Commission agent
  2. Stockist agent
  3. Procurement Agency
  4. General Importer

Before we start, let’s look at  the most frequently asked questions:

    1. Can I start an agency without capital? NO! Your financial outlay depends on the type of agency you wish to trade under. Under all circumstances you will need a start up fund.

 

    1. Can I work part time? YES but remember the more time you put into your business venture the greater chance of success. This goes for anything in life, an Olympic athlete doesn’t win a gold medal but training 3 hours a week.

 

    1. Is it better to start as a commission or stockist agent? It depends on the time and funds available to you. Do you see this as a part time business venture with limited start  up funds or a full time venture with back up funds or an investor? Many commission agencies start up as a Bedroom Business with very little funds and many remain just that, a bedroom business with a great deal of effort invested for very slim returns.

 

    1. Can I make money as an agent? Yes, it’s entirely possible!

 

    1. Should I register for VAT? You must consult an accountant on this question. They can advise you accordingly

 

    1. What products should I represent? This is an impossible question to answer here. The answer to this will come after you undertake your market research. For example, is there a gap in the market for a certain product? Can you supply a particular item faster and cheaper than present suppliers? Your market research is a vital tool, NEVER go on instinct alone.Your market research will tell you if the product you intend to represent is a winner or loser without committing yourself to a capital investment. Always base your decision on your market research. Diversity is the key, interconnecting or a range of products. If you represent only one product, you’ve only one shot as to whether a buyer will make a purchase from you.  If you have several interconnecting (or a range of) products, your chances increase that a buyer will make a purchase.This means you turn the odds in our favor  and  your visit could result in a sale and not  be a waste of your time and energy.  An example of Interconnecting stock using electrical goods are steam irons, electric kettles, electrical clocks and electrical steamers.

 

    1. How do I set up my agency? That’s what the rest of this course will teach. Read on.

 

  1. Should I trade as a commission or stockist agent? We will also be covering this as we progress.

SETTING UP YOUR BUSINESS

The following should be addressed before you set upper business.

  • Identify your financial position
  • How much time and money are you prepared to invest in your business?
  • Open a Business bank account
  • Develop your website
  • Identify if you will I register my business as a sole trader or a limited company?

Sole Trader v Limited Company

A sole trader involves you declaring to the tax authorities that as from a certain date you will be trading a sole trader, for example, Joe Bloggs trading as Express Imports (Joe Bloggs t/a Express Imports).

If you decide to trade as a limited Company (Ltd) you will be required to register your company with the appropriate government authority.  In the UK please see: https://www.gov.uk/topic/company-registration-filing/starting-company.

If you decide to register as a limited company, in many countries you can buy a readymade off the shelf Limited Company. This is less expensive and time saving rather than setting a new company with the appropriate authorities. Confirm that an off the shelf company is legal and available in your country.

It is important that you discuss your options with an accountant and seek their professional advice.

WHAT ARE MY START UP COSTS?

The following costs are indicative and are not fully comprehensive:

  • Commission Agent Setup
  • Capital
  • Mobile phone
  • Computer
  • Wifi
  • Transport (Car Expenses)
  • Travel Expenses
  • Website
  • Limited Company Registration Fees

Stockist Agent, Procurement Agent, General Agent

  • Capital
  • Mobile Phone
  • Computer
  • Wifi
  • Transport (Car Expenses)
  • Travel Expenses
  • Website
  • Limited Company Registration Fees
  • Warehousing

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