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Expanding Your Business Market

If you own a business, and want to make it a lot more profitable, you should probably look to expand your market on the products you are selling. One way of doing this would be to look for an overseas market where you could export your products to increase demand and hence your profits. Here are some factors you will need to consider.
Is it worth exporting?
This is the first question you will need to ask yourself. Think about the country’s supply on the item you are considering exporting and if they already have an abundant supply of it they will probably not want to pay additional import charges to get it from you. Some of the best things to export would be your country’s natural resources such as oil, if you are living in Iraq for example, or timber if you are in South America. This will have a demand in countries that do not have a high stock on the resource you are selling.
Appropriate storage
Once you decide on exporting, it is vital that you find a good storage location for your goods. If you decided to export oil for instance and you are living in Iraq, then look for a good warehouse Jebel Ali is a famous industrial zone that should have plenty available. You should have relevant security on the warehouse to prevent any thefts of your goods. This will be part of the additional costs you will have to spend on exporting goods.Good shipping company
This will directly determine your customer’s satisfaction regarding the time it takes for them to receive the product. If you can ensure prompt shipping they will most likely highly regard your service and would want to buy from you again. If you are shipping oil, there are many freight forwarders that are reputed for offering high quality service.
Insurance
It would be a good idea if you can get proper insurance on your products to prevent any losses that may occur if there are damaged goods or if they are stolen. You will have to pay a regular insurance premium as part of the costs, so make sure they cover most possible causes of loss that you may undergo such as robbery in particular. This would further increase your reliability in being able to export the goods to your client in the condition and quantity that they require.
Setting up an export industry would require an initial investment to set up but could be beneficial in the long term. Before you decide to set it up you will need to calculate all the costs that will incur and see if it is profitable enough to be worth your investment.

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