What are the points I need to know before starting a personal export side business?
An individual export side job is a side job in which an individual sells products overseas.
Here are some points you should know before getting started:
1. Market research
– Market research is essential to find products that are in demand overseas.
– Research competitors and similar products and analyze what products are selling well.
2. Trademark and Copyright
– It is necessary to understand the intellectual property rights of the products you are trying to export and confirm that they are not infringing.
– The laws of both the exporting and importing countries must be considered.
3. Logistics
– Understand international shipping options and costs, and find ways to get your items delivered efficiently and reliably.
– Knowledge of customs rules and tariffs when importing and exporting is also required.
4. Financial planning
– Even though it is a side job, you need to plan for initial investment and working capital.
– Calculate product purchasing, logistics costs, advertising costs, etc. in advance.
5. Selection of sales platform
– Various online platforms are available such as eBay, Amazon, Etsy, etc.
– Understand the fees and terms and conditions of each platform and make the choice that fits your business model.
6. Legal compliance
– As a private exporter, you must comply with business licenses, taxes, and import/export regulations.
– In particular, you should have a correct understanding of tax obligations such as consumption tax.
7. Language and Communication
– Multilingual communication is required for customer service, product descriptions, etc.
– English is required, but knowledge of additional languages depending on the target market may be an advantage.
8. Customer Service
– Customer inquiries and after-sales service are important in overseas transactions.
– Good customer service increases repeat business and builds trust.
These points are common considerations for companies doing international business, but they are especially important for individuals doing business.
An individual's import/export business has limited resources compared to a large company, so the key to success is to carefully plan and take measures at each point.
