Tammy : Good day everyone, to our listeners, I hope everyone’s having a great day today. Here’s another episode of our weekly podcast and I’m Tammy together with Ray, we are from the Unipro Consulting Limited.
Ray : Hi Tammy, how are you today?
Tammy : I’m great, what about you?
Ray : Great too! And today’s podcast is something that can help people start their own business without breaking the bank, and yet easy to manage and market.
Tammy : Yes, and this is something to do with the current situation, as we have limited places to go to do business right now, and as you know everything is going virtually. Like virtual selling, virtual seminars, virtual exhibition, virtual fair, like looking for suppliers and vendors virtually.
Ray : That’s right Tammy, and that really sounds cool. People are really adapting the changes that we are all currently facing, and this is actually a good thing. To Businessmen who are adjusting to the changes, that’s perfectly normal, just have a little patience and everything will go to it’s place.
Tammy : I agree with you, this is not something easy to everyone especially if it’s not the millennials. But there is the internet who can always offer help for you to learn more about things that you need to know.
Ray : So what are we going to discuss today is the export and import of products, you might want to bring some imported products to your home country, this is a good idea especially now that we are not allowed to travel from different countries to buy things that you like. So why not bring it to your home country to be more accessible to everyone?
Tammy : That’s really a great idea, like here in the Philippines, there are still a lot of products that we don’t have here and we would like to have. And I’m sure it’s also the same in other countries. And for me, this kind of business, the import and export is not only for those who are adventurous, it’s actually a business these days, and you don’t need a huge amount of money to do this, you may start small like one products and see if it suits your market, you can always go big anytime you are ready.
Ray : Yes, that’s correct. And that is why we want to open the minds of people who want to start their own business. Import and Export might be the perfect for start-up businesses.
Tammy : Let me clarify to our listeners that Import and Export is like an international trade, and this is one of the hot industries of the new millennium. Although it’s not new to everyone. This is something that a country has a supply of some products that is in demand by another country.
Ray : Yes, international trade becomes more and more rewarding for both in terms of profit and there is personal satisfaction.
Tammy : Right! So how are they going to start this kind of business?
Ray : That’s a good question, how are they going to start their business. First, you need to think of a product, a product that you think with a big market. Because the target market plays a big role in your business. Then second would be your start-up cost, followed by the income and billing, operations, marketing, resources.
Tammy : I think if you are just a small start up business, you can first study which product suits your target market, study the income and billing, for the operation, maybe they can start alone or with a partner, no need to go big if you are just starting?
Ray : Yes, if you are just starting your business, register your company, find a good supplier and sell your product maybe on a website or another third party platform like Amazon, Lazada or taobao.
Tammy : What might be the cost if you import your products to your home country?
Ray : Well, if you prefer to create your own website and sell from there, or let’s say, you won’t be using a third party logistics company. Then this might cost a little bit more money. As you need to pay the duties and taxes from your country. Duties and Taxes depending on your product, like the amount and quantity.
Tammy : Okay, what do you suggest? Use a third party logistics company or ship it directly to your country?
Ray : Well, this depends on you, using a third party logistics company might not cost much compared to shipping it directly to your country. If you just planned to sell it directly to the consumers, then third party logistics might be a good fit, however, if you planned to sell it not only to the consumers but also to resellers who want to sell your products too, then shipping it to our home country would be perfect too!
Tammy : Yeah! That makes sense, so it would really depend on your target market.
Ray : Yes, like I said, your target market plays a big role in your business.
Tammy : Maybe for me, I would go for shipping it directly to my home country, If I want a bigger market, sell the products to the consumers and sell it to the resellers as well. In this case, I am targeting 2 birds in one stone.
Ray : But you also have to consider that if you are a start up business and starting small. Or doing a trial of your products, then go for the third party logistics first, there are a lot of third party logistics available there, just find the best for you.
Tammy : Great! And where can we find good suppliers then?
Ray : Well, it also depends which product are you interested in? Is it something edible? Electronics and accessories? Hobbies and crafts? For kids? Not to mention that China offers a lot of products in the market with not too overpriced., but you have to find the best product, like the quality!
Tammy : Yes, don’t compromise the quality of the product. Let’s say you want to sell cheese, which country offers the best cheese? Best to go to the United Kingdom like in Italy, Germany, Paris or wherever you think that offers the best cheese. Of course you won’t be going to the Philippines to check for some cheese because you probably think it’s cheap there. You would go for the country who offers the best of the product you are looking for.
Ray : Yes, let’s give an example which product to import, well, for me those which have no expiry. Because you also have to consider the days that the product will arrive in your country. Just to make sure that the products will not be spoiled or expired when it arrives. Although, pack foods, canned foods who have a longer shelf life is okay too. But if it’s me, I’ll go with the electronics, accessories or gadgets. Which is already popular right now. Go for the country who has a limited access to importers.
Tammy : Yeah, I agree with you. And if you are eyeing on the Philippines, we offer great handmade products like baskets made out of bamboo or bags made out of wood are great to buy from here. We have the best people here who make those products in a very great quality. And I think that is the best seller here in the Philippines, like a lot of people are coming here to check on those products and they export them to other countries who don’t have those products in their country.
Ray : Yes, I see that product from your country, and it amazes me how Filipino can make that by just using their hands. It’s really cool!
Tammy : Yes, and that’s one of the products that we are actually proud of! I’ll give you one when I visit you there!
Ray : Wow! That’s nice! Thank you for that!
Tammy : Sure, no problem. So that’s also something you can sell, something that is known in your country. Sell it internationally. Make your country proud as well, right! Anyway, going back to now, that people can’t go to other places, why not bring the international products in your home country? It can be making your own milk tea from Taiwan, or health care from Australia, beauty products in Korea, instant ramen from Japan, there are a lot of things you can consider bringing in your country.
Ray : That’s right, this is actually a good idea. Making things more accessible in your country. Whether it is import or export through digital, learning the digital business right now is very important if you don’t want to get left behind.
Tammy : I agree, so yes, I hope our listeners again learned something from us again! If you want us to listen to a topic you are interested in, just leave a comment!
Ray : Thanks Tammy for today’s discussion, it’s a short and a meaningful one!
Tammy : Thanks, Ray! Til our next podcast.
Ray : Bye!