Import Export Business have their own importers and exporters, there are many variations on the main business forte:
- Export management company (EMC): An EMC handles all export operations for a domestic company that wants to sell its product in foreign countries but doesn’t know how (and perhaps doesn’t want to know how). The EMC does all for you–hiring dealers, distributors and their representatives; handling advertising, marketing and complete promotions; overseeing marking and packaging co-laterals; arranging shipping; and sometimes arranging financing assets. In some cases, the EMC even takes title to the goods, in essence becoming its own distributor for those assets. EMCs usually specialize by product segment, foreign market or both, and–unless they’ve taken title–are paid by commission or incentives, salary or retainer plus commission.
- Export trading company (ETC): While an EMC has merchandise to sell and is using its power to search out buyers, an ETC targets the other side of the trading coin. It identifies what foreign buyers looking to spend their finances on and then hunts down domestic particulars willing to export. An ETC sometimes endorses title to the goods and sometimes works on a commission basis for them.
- Import export merchant: This international entrepreneur is a sort of free agent partnership. He has no specific client base in general, and he doesn’t specialize in any one industry or line of products in particular . Instead, he purchases several goods directly from a domestic or foreign manufacturer companies and then packs, ships and resells the goods on his own expertise. This means, of course, that unlike the EMC, he assumes all the risks involved with import export business.
Get the expert analytic for import export data.