business plan for food import

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How to Start an Import/Export Business in 6 Steps

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

For nearly as long as there’s been people, there’s been trade. Imports and exports are how the potato came to Ireland, and in a more modern sense, it's how we’re able to buy food, drinks, furniture, clothes, and nearly everything else, from all around the world today.

Imports are any good or service brought in from one country to another, while exports are goods and services produced in the home country for sale to other markets. Thus, whether you’re importing or exporting a product (or both) depends on your orientation to the transaction.

The modern system of international trade is a complex web of import/export businesses that handle the sale, distribution, and delivery of goods from one nation to another. If you're interested in starting a business in this industry, know that there is more than one type of import/export business. You could focus just on importing or just on exporting. You could be a manufacturer’s representative, specializing in a certain industry, or you could be an import/export merchant or agent, which is more of a freelance broker.

Starting an import/export business

If you’re interested in starting an import/export business, there are a ton of considerations you need to make — just as you would for any business. For an import/export business, specifically, it’s helpful to have a background in business, international relations, or global finance. This should give you an understanding of the myriad hoops one must jump through to sell or buy a product from an overseas supplier.

“The compliances make it so complex that even if you did know how to do it, you’re still going to have to keep in mind a lot of random considerations,” says Selena Cuffe, co-founder of Heritage Link Brands, a company that imports, exports, and produces wine, and other high-end products like tea and honey.

Cuffe worked for years in brand management for Procter & Gamble, among other trade-related positions, before starting her company in 2005. She was inspired after going to South Africa, where she attended the first Soweto Wine Festival.

Heritage Link Brands now operates within the wine industry in different ways: It imports wine from South Africa into the U.S. wine market, and it exports grapes from its own South African vineyard to the U.S. as well as the Philippines and Hong Kong. It also exports wine to airlines for use on international flights.

Keep reading for the steps you need to take to start an import/export business, as well as tips from Cuffe.

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Once we uncover your personalized matches, our team will consult you on the process moving forward.

1. Get your business basics in order

Anyone starting a business in the 21st century needs to cover certain bases, like creating a website as well as social media channels like Facebook, Twitter, and a host of others.

So here's your first step: Get the basics in order. This means registering your business with the state in which your headquarters will be located, registering a domain name, getting any business licenses you need to legally operate, and so on.

You'll need a business plan, too. Part of that business plan needs to cover how to handle the rules and regulations of the markets you want to work in. For example, to bring alcohol and tobacco products into the U.S., you need an Alcohol and Tobacco Trade and Tax Bureau permit, which is free but can take months to acquire. Similar research needs to be done when doing business with other countries, taking into account everything from various legal back label requirements in each nation to insurance.

Perhaps most importantly, you need access to capital. Startup costs can vary greatly depending on the type of imports/exports business you start.

“The first thing I recommend for anyone is to have your capital upfront,” says Cuffe. “That’s so you can protect your business from not only a legal standpoint but also the equity of the brand that you create and to make sure you invest in the quality of whatever you launch. Test a market, or test a city, then a state, then a region. Then I think that there are greater chances for success and sustainability long term.”

The ratio that Cuffe cited for success in the wine industry — "In order to make $1 million, you need to invest $7 million” — demonstrates the kind of capital needed to start a business comfortably (if one can ever be “comfortable” as an entrepreneur) and be prepared for whatever occurs, from issues with sourcing to changes in trade regulations.

2. Pick a product to import or export

The next step in starting an import/export business is to find a product or industry you are passionate about and that you think could sell in international markets.

For Cuffe, that product turned out to be wine. She felt a connection to the product not just from a quality and taste standpoint but from a social justice standpoint as well.

“When I first entered the industry in 2005, there was just one Black winemaker and five Black-owned brands," she says. "Today there are 17 Black winemakers and 31 Black-owned brands.”

Though the South African wine industry still deals with injustices like poor working conditions and unequal access to capital, Cuffe says things have improved since the previous decade thanks to the increased sales and notoriety of South African wines worldwide.

“The biggest thing that we’ve enabled is the financing of Black businesses. When we first got started, in order for even these brands to create their own wine, they had to source it from existing white wineries, because they didn’t own any land,” Cuffe says.

Once you find your product, you also need to identify the right market for it. After all, you need someone to sell it to. This is where your trend-spotting skills come into play. The best products for an import/export business are products that are just starting to become popular, or show some promise to being so in the future.

You can conduct research with resources like GlobalEDGE’s Market Potential Index or by checking with local government officials and websites, such as the Department of Commerce International Trade Administration’s Data and Analysis. You can also find reports on the state of the imports/exports industry with the Census Bureau Foreign Trade .

From there, it’s best to start “slow and steady.”

“Test your ideas,” says Cuffe. “Don’t assume that what you think will sell because you love it will catch fire in the market. What catches fire in the market is more than just the way it tastes — it’s who you know, and the packaging and serendipity of timing, and all of the indirect soft stuff that makes the difference.”

3. Source your suppliers

Once you have a product you’d like to trade internationally, you need to find a local manufacturer or other producer that makes your product and can lead to a strong partnership. A good relationship with a supplier is crucial to long-running success in an imports/exports business.

Generally, you can find suppliers through companies like Alibaba, Global Sources, and Thomas Register. You will need to convince the supplier of the benefits of entering the U.S. market (or another market you wish to sell to), and figure out the logistics of taking their product from their local warehouse or production facility to another one, potentially on the other side of the globe.

You might also be your own supplier — in some cases, as Cuffe occasionally is for herself.

“We own an interest in a vineyard in South Africa called Silkbush ," she says. "My orientation when I do business to them is, 80% of the grapes that we pick we send off to domestic wineries who use our grapes to produce their own proprietary high-end wine. The remaining 20% is used to create our proprietary label Silkbush, which we export to foreign markets.”

4. Price your product

You know what product you want to work with and you've identified your target market. Next up, figuring out how much to charge.

Typically, the business model on an imports/exports business includes two key understandings: the volume of units sold, and the commission made on that volume.

Be sure to price your product such that your markup on the product (what ends up being your commission) doesn't exceed what a customer is willing to pay. But you don't want to make it too low such that you aren't ever going to make a profit.

In the imports/exports industry, importers and exporters typically take 10% to 15% markup above what the manufacturer charges you when you buy the raw product.

5. Find your customers

Next up on how to start an imports/exports business? Finding customers to sell to.

Deciding on a market is not the same as finding your customers. You can’t just send your products to the Port of New York and start selling your wares on the docks to whoever walks by. You usually need to find distributors and clients who will take on your product and sell to others.

If you have a quality website that includes digital marketing campaigns, your customers may end up finding you. But to get started, Cuffe suggests doing things the old-fashioned way — by cold-calling. Check with any local contacts you have in the area, contact the area's Chamber of Commerce, trade consulates, embassies, and so on. These entities might be able to give you a local contact list that could be a vital help in starting a imports/exports business.

“I cold-called the local Cambridge, Massachusetts, Whole Foods store, and they gave me a chance. And now we do display programs and regional programs with Whole Foods,” says Cuffe. “A lot of what I did in the beginning and even today involves cold calls.”

6. Get the logistics down

Perhaps the most complex aspect of importing and exporting is the logistics of taking a product created somewhere and selling it somewhere else. How does the product make the trip from the vineyard of South Africa to the wine glasses of drinkers in California, for example?

“When you are operating within a supply chain where your customer is different than your client, which is different than your consumer, it requires an extraordinary amount of coordination,” says Cuffe. “I use a freight forwarder that on my behalf reaches out to shipping lines, like Maersk.”

Hiring a global freight forwarder is generally a good idea for all imports/exports businesses, as they'll serve as a transport agent for moving cargo — saving you a lot of time and worry about getting your products from the factory to a warehouse. Essentially, you'll give them information about your business and your intentions for the product, and they'll arrange the shipping agreements, insurance, and oftentimes the licenses, permits, tariffs, and quotas of working within another country. This can remove a lot of the headache associated with starting an imports/exports business in an international trade market.

Frequently asked questions

Is an import/export business profitable.

Many import/export businesses are very profitable. To improve your company's chances of profitability, it's important to conduct the required research on your industry and have a well-documented business plan. Understanding all of the costs associated with an imports/exports business and determining your profit margins when pricing your products is also essential.

How do import/export companies make money?

As an import/export company, you'll make a profit by selling products at a higher rate than you paid for them from the vendor or source.

What is an export license?

An export license is a government-issued document authorizing your company to complete certain export transactions. An export license is issued by the appropriate agency once the export transaction has been reviewed.

What documents do I need to import goods?

The types of documents you'll need to import goods will vary depending on the country you're importing the product into. In the United States, import licenses and permits may be required, but a Customs and Border Protection entry form is always required.

Start Your Dream Business

The bottom line

The world of importing and exporting is a dazzling, complex system that balances both emotional and economic needs. If we want something that is grown or produced in another part of the world, how can we get our hands on it? How can we give others the opportunity to enjoy it, while still creating a sustainable lifestyle for those producing it and for those who transport it from point A to B?

If you’re interested in answering these questions, don’t let the enormity of the task overwhelm you. With the proper research, planning, and documentation, you can launch a successful imports/exports business of your own.

On a similar note...

Import Export Business Plan Template

Written by Dave Lavinsky

Trade Global Business Plan

You’ve come to the right place to create your Trade Global business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Trade Global businesses.

Below is a template to help you create each section of your Trade Global business plan.

Executive Summary

Business overview.

Trade Global is a startup Import/Export company located in Houston, Texas. The company was founded by Ted Rogers, who has deep experience as a wholesale distribution executive. Ted has long aspired to work for himself, and has been systematically acquiring the tools and knowledge necessary to successfully operate an import/export business. The combination of his skills and drive positions him to succeed. What’s more, he has an extensive network of contacts across the globe, which will provide an edge in acquiring clientele.

Product Offering

Trade Global has acquired a warehouse in Hong Kong, and has entered into contracts with five Asian manufacturers to export goods to the United States. As the company gains credibility and grows its client base, it has plans to begin building its own fleet of cargo ships that will carry goods both into and out of the United States.

Customer Focus

Trade Global will procure products from manufacturers and wholesale products to distributors throughout the United States, Southeast Asia, and Europe.

Management Team

Trade Global will be owned and operated by Ted Rogers. Ted has a background as a wholesaler, and is a graduate of Michigan State University’s Supply Chain Management program, and subsequently earned an Export/Import Certificate from the International Chamber of Commerce (ICC).

Success Factors

Trade Global will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly qualified owner
• An ideal warehouse location in Hong Kong, with ample room for expansion
• FTZ status with Port Houston

Financial Highlights

Trade Global is seeking $750,000 in debt financing to launch its import/export operation. The funding will be dedicated towards procuring, packing, and shopping products, and payroll of the staff until the firm reaches break even. The breakout of the funding is below:

• Inventory: $250,000
• Shipping costs: $250,000
• Office equipment, supplies, and materials: $10,000
• Overhead expenses (payroll, rent, utilities): $200,000
• Marketing costs: $20,000
• Working capital: $20,000

The following graph below outlines the pro forma financial projections for Trade Global.

Company Overview

Who is trade global.

Trade Global is a startup import/export company located in Hong Kong and Houston, Texas. The company was founded by Ted Rogers, who has deep experience as a wholesale distribution executive. Ted has long aspired to work for himself, and has been systematically acquiring the tools and knowledge necessary to successfully operate an import/export business. The combination of his skills and drive positions him to succeed. What’s more, he has an extensive network of contacts across the globe, which will provide an edge in acquiring clientele.

  Trade Global aims to deliver a wide variety of goods both into and out of the United States. The team is highly qualified and experienced in sales and supply chain management.

Trade Global History

Trade Global is owned and operated by Ted Rogers, a former distribution executive and ICC certified Importer/Exporter. Ted has worked for a large wholesale company and oversaw a wide variety of accounts from around the world. Derek’s tenure with the wholesale distribution company, as well as his education in Supply Chain Management has given him the skills and knowledge required to venture out and start his own company. Ted has been awarded contracts with two large Chinese manufacturers, which guarantees Trade Global stability while it works to increase its reach.

Since incorporation, Trade Global has achieved the following milestones:

• Registered Trade Global, LLC to transact business in the state of Texas.
• Acquired an import license from US Customs and Border Protection (CBP)
• Has acquired an existing warehouse in Hong Kong.
• Reached out to numerous manufacturers to apply for wholesale contracts.
• Entered into a contract with a deep sea cargo transportation company.
• Began recruiting warehouse workers, and office personnel to work at Trade Global.

Trade Global Services

Trade Global has signed contracts with two manufacturers, to export goods from China to the US. It will begin as a small exporter, with ample warehouse space for growth. The company will keep abreast of logistics technology innovations as it grows.

Industry Analysis

The US import/export industry is significant in terms of revenue. According to the United States International Trade Commission (USITC), the total value of US goods and services exports in 2022 was approximately $2.09 trillion, and the value of imports was approximately $3.0 trillion. This resulted in a trade deficit of roughly $948.1 billion for the year. The revenue generated by the industry is a combination of goods and services exported and imported by the United States.

Over the last few decades, the US import/export industry has seen consistent growth. The USITC data indicates that the total value of US exports and imports has grown substantially since the 1980s. This growth is influenced by factors such as globalization, trade agreements, technological advancements, and evolving consumer demands.

The trade deficit, which occurs when the value of imports exceeds exports, has been a subject of concern for policymakers. Reducing the trade deficit has been a goal of various US administrations.

Several trends have shaped the US import/export industry:

• Globalization: Increased globalization has allowed US businesses to access international markets and global supply chains. This trend has led to an expansion in both exports and imports, as well as an interconnected global economy.
• E-commerce: The growth of e-commerce has had a substantial impact on the industry. Small and medium-sized enterprises (SMEs) have easier access to international markets through online platforms, leading to a boost in exports of services and goods.
• Trade Policies: Trade policies, such as tariffs and trade agreements, have a significant impact on the industry. The US has experienced trade tensions with several countries, notably China. These policies can influence the types of goods and services that are imported and exported.
• Technology: Advancements in technology have made it easier for businesses to engage in international trade. Technologies like blockchain, logistics software, and automation have improved efficiency and tracking in the import/export process.
• Environmental and Ethical Concerns: There is a growing focus on sustainable and ethical trade practices. Consumers and businesses are increasingly concerned about the environmental impact of products, leading to changes in supply chain management and the types of goods being imported and exported.
• Geopolitical Factors: Geopolitical factors, such as trade relations with China, Brexit, and tensions in the Middle East, can affect trade patterns and the stability of the import/export industry.

Customer Analysis

Profile of target market.

Trade Global will initially target manufacturing companies in China, and wholesale companies in the US.

The precise data for these target markets are:

China In 2022, the total merchandise exports from China amounted to around 24 trillion yuan. This included 6.3 trillion yuan worth of high and new-tech products and over 13.6 trillion yuan worth of mechanical and electronic products.

As of 2021, there were around 25,200 state-owned industrial enterprises above designated size in China.

United States The Wholesale Trade sector is an intermediary step in the supply chain process. Companies in the sector distribute goods from agriculture, mining, manufacturing and information industries to downstream markets, typically without any transformation. In 2023, the US Wholesale sector is valued at $11.3 trillion.

Customer Segmentation

Trade Global will primarily target the following customer profiles:

• Small to medium manufacturers of FMCG in China
• Wholesale distributors of FMCG in US

Competitive Analysis

Direct and indirect competitors.

Trade Global will face competition from other companies with similar business models. A description of each competitor company is below.

Global Electronic Imports & Exports, Inc.

Established in 1990, Global Electronic Imports & Exports specializes in the import and export of consumer electronics, including smartphones, tablets, and audio equipment. They also deal in a range of accessories and components related to consumer electronics.

Global Electronic Imports & Exports has long-standing partnerships with major electronics manufacturers in Asia, including Samsung, LG, and Panasonic. They also collaborate with major US-based retailers for distribution.

Global Electronic Imports & Exports reported an annual trade volume of approximately $150 million in consumer electronics and related products last year.

Natural Foods International

Established in 2005, Natural Foods International specializes in the import and export of food products, with a focus on organic and non-GMO items. They deal in a wide range of commodities, including grains, nuts, and dried fruits.

The company has established partnerships with a network of international organic farms and cooperatives. They also have distribution agreements with major US grocery chains, such as Whole Foods Market and Trader Joe’s.

Last year, Natural Foods International reported a trade volume of approximately $85 million in organic and non-GMO food products.

Titan Heavy Machinery, Inc.

Established in 1998, Titan Heavy Machinery is a specialized import/export company focusing on the heavy equipment and construction industry. Their product range includes excavators, bulldozers, and industrial vehicles.

The company has close partnerships with leading heavy machinery manufacturers, particularly in Japan and Germany. They also collaborate with construction and mining companies in the US and overseas.

Last year, Titan Heavy Machinery reported a trade volume of approximately $60 million in heavy equipment and machinery, serving the construction and infrastructure development sectors.

Competitive Advantage

Trade Global will be able to offer the following advantages over their competition:

• Smaller, more personal operation, with highly-qualified supply chain experts
• Trade Global stays abreast of all technology developments, constantly seeks to improve the supply chain, and delivers an accurate and complete shipment to each customer.
• Trade Global offers competitive pricing for its services. Their pricing structure is the most cost effective compared to the competition.

Marketing Plan

Brand & value proposition.

Trade Global will offer the unique value proposition to its clientele:

• Highly-qualified team of supply chain experts that provide a comprehensive suite of export/import services (sales, packaging, shipping, customs, tariff/financial, marketing, expedient delivery).
• Unbeatable pricing to its clients – Trade Global does not mark up its services at a large percentage, offering competitive pricing.

Promotions Strategy

Flexibility and adaptability are key in marketing, as the import/export industry is subject to changes in international trade policies, global economic conditions, and shifting market dynamics.

The promotions strategy for Trade Global is as follows:

Create a Strong Online Presence:

Trade Global will build a professional, user-friendly website that showcases the company’s services, products, and expertise. The site will be optimized for search engines (SEO) to improve its visibility in online search results.

Network and Build Relationships:

Trade Global will make a point of attending a variety of trade shows and industry events to meet potential clients, suppliers, and partners, since building and maintaining relationships in the import/export industry is often critical to success.

Trade Global will also join industry-specific associations and chambers of commerce to gain credibility and access a network of contacts.

Online Marketing:

Trade Global will list products or services on established online B2B marketplaces like Alibaba, Global Sources, or TradeIndia to reach a global audience.

Trade Global will launch an email marketing campaign to reach potential clients, partners, and suppliers. Share industry news, company updates, and promotional offers.

The company will use online advertising platforms such as Google Ads and social media advertising to deliver targeted ads that promote import/export services.

Trade Publications and Directories:

Trade Global will advertise the business in relevant industry directories and advertise in trade publications specific to each product niche.

Trade Global’s pricing will be moderate and on par with competitors so clients feel they receive value when purchasing their goods and services.

Operations Plan

The following will be the operations plan for Trade Global. Operation Functions:

• Ted Rogers will initially handle all procurement, finding goods, buyers for goods, negotiating prices, and arranging logistics.
• The company will employ an administrative assistant, who will handle all documentation and answer non-urgent communications.
• The company will employ three warehouse managers to oversee logistics operations.

Milestones:

Trade Global will have the following milestones complete in the next eight months.

• 5/1/202X – Finalize construction of warehouse space
• 6/1/202X – Complete recruitment process for warehouse management
• 6/15/202X – Finalize shipping partnerships
• 8/1/202X – Finalize wholesale contracts
• 11/15/202X – Complete hiring of warehouse team
• 12/1/202X – Receive first products intended for export

Trade Global will be owned and operated by Ted Rogers, who will oversee the procurement and logistical operations.

Ted Rogers has a background in wholesale, and is a graduate of Michigan State University’s Supply Chain Management program, and subsequently earned an Export/Import Certificate from the International Chamber of Commerce (ICC).

Trade Global has begun the recruitment process for experienced Warehouse Managers in Hong Kong, and expects to complete the hiring process within one month.

Financial Plan

Key revenue & costs.

The revenue drivers for Trade Global will largely rely on finding the best buyers for products being imported/exported. In addition, negotiating the lowest shipping costs will be a significant factor in revenue realized.

The cost drivers will be the overhead costs required to procure goods, and operate the warehouse. The major expenses will be payroll, and shipping costs.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required to achieve the revenue and cost numbers in the financials and to pay off the startup business loan.

• Sales Revenue: Projected sales revenue will be broken down by product or service, region, and customer segments.
• Gross Margin: Profit projections will account for variations in costs, such as shipping, import duties, and currency fluctuations.
• Cost of Goods Sold (COGS): This includes the cost of acquiring the goods for import or export.
• Currency Exchange Rates: Exchange rates can significantly impact the financial performance of an importer/exporter.
• Credit Terms: Credit terms offered to customers and suppliers impact cash flow and working capital requirements.
• Inventory Turnover: Carrying costs and storage expenses will impact profit; therefore, an accurate forecast of how quickly inventory will need to be replenished is important
• Taxes and Duties: Import/export duties, taxes, and customs fees based on the countries involved in the trade
• Economic Conditions: inflation rates, interest rates, and political stability can affect profitability

Financial Projections

Income statement, balance sheet, cash flow statement, trade global business plan faqs, what is an import export business plan.

An import export business plan is a plan to start and/or grow your import export business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Import Export business plan using our Import Export Business Plan Template here .

What are the Main Types of Import Export Businesses? 

There are a number of different kinds of import export businesses , some examples include: Export management company, Export trading company, and Import-export merchant (or free agent).

How Do You Get Funding for Your Import Export Business Plan?

Import Export businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start an Import Export Business?

Starting an import export business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Import Export Business Plan - The first step in starting a business is to create a detailed import export business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your import export business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your import export business is in compliance with local laws.

3. Register Your Import Export Business - Once you have chosen a legal structure, the next step is to register your import export business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your import export business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Import Export Equipment & Supplies - In order to start your import export business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your import export business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

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Here is a free business plan sample for an import/export company.

If you're considering entering the dynamic world of international trade but are unsure how to start, you've landed on the right page.

In the content that follows, we will present to you a comprehensive sample business plan tailored for an import/export company.

As you might be aware, a meticulously developed business plan is a cornerstone of success for any entrepreneur. It serves as a roadmap, enabling you to outline your business objectives, strategies, and the intricate details of your operations.

To streamline your planning process and get started on a solid foundation, you can utilize our import/export business plan template. Additionally, our team of experts is available to review and refine your plan at no extra cost.

How to draft a great business plan for your import/export company?

A good business plan for an import/export company must be tailored to the intricacies of international trade.

To start, it is crucial to provide a comprehensive overview of the global market you intend to operate in. This includes analyzing trade volumes, growth trends, and the economic climate, similar to what we have outlined in our import/export business plan template .

Your business plan should clearly articulate your company's vision, define your target markets (such as specific countries or regions), and describe your unique value proposition (competitive pricing, specialized products, etc.).

Market analysis is paramount. You need to thoroughly understand the regulatory environment, tariffs, and trade agreements that affect your business, as well as the competitive landscape and demand in your chosen markets.

For an import/export business, it is essential to detail your product or service offerings. Explain what you are importing or exporting, the benefits of these products or services, and how they fulfill the needs of your target market.

The operational plan should cover your logistics and supply chain strategy, including the selection of freight forwarders, customs brokers, and methods of transportation. It should also outline your approach to managing international payments and currency risks.

Quality control, compliance with international standards, and adherence to trade regulations are critical points to emphasize in your business plan.

Marketing and sales strategies must be adapted to the international context. Discuss how you will build relationships with foreign distributors, utilize trade shows, and leverage digital marketing to reach a global audience.

Given the digital age, having a robust online presence, including a professional website and active engagement on relevant B2B platforms, is indispensable.

The financial section should include your startup costs, projected revenues, cost of goods sold, and operational expenses. It is also important to analyze the financial risks associated with exchange rate fluctuations and international transactions. For assistance with this, consider using our financial forecast for an import/export business .

Compared to other business plans, an import/export business plan must pay special attention to international market analysis, logistics, customs regulations, and currency management.

A well-crafted business plan will not only help you clarify your strategy and operations but also serve as a tool to attract investors or secure loans.

Lenders and investors will be looking for a comprehensive understanding of international markets, a solid financial plan, and a clear operational strategy for managing the complexities of global trade.

By presenting a thorough and substantiated plan, you showcase your expertise and dedication to the success of your import/export venture.

To streamline the process and ensure you cover all necessary aspects, you can start with our import/export business plan template .

A free example of business plan for an import/export company

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for an import/export company .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market overview and statistics.

The import/export industry is a critical component of global trade, facilitating the movement of goods across international borders.

According to recent data, the global import/export market is valued in the trillions of dollars, highlighting its immense scale and impact on the world economy. In the United States alone, the total value of imports and exports amounted to over 5 trillion dollars in recent years.

This industry is vital for connecting producers and consumers worldwide, allowing for the distribution of a diverse range of products, from raw materials to finished goods.

These statistics underscore the significant role that the import/export sector plays in global commerce and its potential for lucrative business opportunities.

Industry Trends

The import/export sector is influenced by several key trends that shape the way trade is conducted.

Globalization continues to drive the expansion of international trade, with businesses sourcing products from and selling to markets around the world. E-commerce is also transforming the industry, as more companies leverage online platforms to reach global customers and streamline their operations.

Supply chain optimization is a major focus, with companies investing in logistics and technology to improve efficiency and reduce costs. Additionally, there is a growing emphasis on sustainability, as businesses seek to minimize their environmental impact and meet consumer demand for eco-friendly practices.

Trade agreements and regulatory changes also play a significant role in the industry, affecting tariffs, trade barriers, and market access.

These trends highlight the dynamic nature of the import/export business and the need for companies to stay informed and adaptable to succeed.

Key Success Factors

Success in the import/export industry hinges on several critical factors.

First and foremost, a deep understanding of international markets and regulations is essential. Companies must navigate complex trade laws and customs procedures to ensure compliance and avoid costly delays.

Building strong relationships with reliable suppliers and customers is also crucial for establishing trust and securing repeat business.

Strategic location and logistics capabilities are vital for efficient transportation and distribution of goods. Proximity to major ports, airports, and transportation networks can provide a competitive edge.

Exceptional customer service and communication are important for managing transactions and resolving any issues that may arise during the import/export process.

Lastly, effective risk management and the ability to adapt to changing market conditions are key to maintaining profitability and growth in the face of economic fluctuations and trade disputes.

The Project

Project presentation.

Our import/export company project is designed to bridge the gap between global markets and local businesses by providing a reliable and efficient trade channel. Strategically located to access major shipping routes and transportation hubs, our company will specialize in the import and export of high-demand commodities such as electronics, consumer goods, agricultural products, and textiles.

We will leverage advanced logistics, customs expertise, and a deep understanding of international trade regulations to ensure smooth and timely delivery of goods. Our services will cater to small and medium-sized enterprises (SMEs) looking to expand their market reach without the complexities of global trade.

Our import/export business aspires to be a trusted partner for companies aiming to navigate the complexities of international trade, thereby fostering global business growth and diversification.

Value Proposition

The value proposition of our import/export company lies in our ability to connect businesses with international markets, providing a seamless and cost-effective solution for trading goods across borders.

Our commitment to reliability, transparency, and customer service offers our clients peace of mind, knowing their international trade needs are managed by experts. We aim to simplify the import/export process, allowing businesses to focus on their core operations while we handle the intricacies of global logistics.

We are dedicated to empowering businesses to reach new markets, offering tailored solutions that align with their strategic goals, and contributing to their growth and success in the global marketplace.

Our company strives to be a catalyst for international trade, enabling businesses to leverage global opportunities and driving economic development in the communities we serve.

Project Owner

The project owner is an experienced entrepreneur with a robust background in international trade and logistics.

With a track record of successful trade negotiations and a vast network of global contacts, he is well-equipped to establish an import/export company that stands out for its efficiency, reliability, and customer-focused approach.

Driven by a vision of connecting markets and facilitating global commerce, he is committed to providing top-tier import/export services that support the growth of businesses and contribute to the dynamism of the global economy.

His dedication to excellence and his strategic insight into the world of international trade make him the driving force behind this project, aiming to create new opportunities for businesses and enhance the flow of goods across international borders.

The Market Study

Market segments.

The market segments for this import/export company are diverse and cater to various industries and consumer needs.

Firstly, there are businesses seeking to import goods and raw materials that are not readily available in the local market, such as specialized machinery, electronics, or unique consumer products.

Secondly, domestic manufacturers and producers looking to expand their market reach by exporting goods to international markets form another significant segment.

The market also includes retailers and e-commerce platforms that require a steady flow of imported products to satisfy consumer demand for variety and quality.

Finally, trade consultants and logistics companies can be key partners, as they may require the services of an import/export company to facilitate their operations.

SWOT Analysis

A SWOT analysis of this import/export company project reveals several aspects.

Strengths include a robust network of international suppliers and buyers, expertise in logistics and customs regulations, and the ability to offer competitive pricing due to economies of scale.

Weaknesses might involve currency exchange risks, dependency on international trade policies, and the challenge of maintaining quality control across borders.

Opportunities can be found in the increasing globalization of trade, the rise of e-commerce, and the potential to enter emerging markets with high demand for imported goods.

Threats could include geopolitical tensions affecting trade routes, sudden changes in import/export regulations, and the volatility of international shipping costs.

Competitor Analysis

Competitor analysis in the import/export industry indicates a highly competitive environment.

Direct competitors include other import/export companies, both large multinational corporations and smaller niche firms.

These competitors strive to establish strong relationships with suppliers and buyers, offer cost-effective solutions, and ensure timely delivery of goods.

Potential competitive advantages include a comprehensive understanding of market trends, superior customer service, and the agility to adapt to changing trade environments.

Understanding the strengths and weaknesses of competitors is crucial for carving out a unique market position and for strategic planning.

Competitive Advantages

Our import/export company's competitive edge lies in our extensive global network and our commitment to providing personalized service to each client.

We have established strong partnerships with reliable suppliers and logistics providers to ensure a seamless supply chain from source to destination.

Moreover, our expertise in navigating complex trade agreements and customs regulations allows us to minimize delays and reduce costs for our clients.

We are dedicated to transparency in our operations, providing clients with real-time updates on their shipments and ensuring that all transactions comply with international trade laws.

You can also read our articles about: - the customer segments of an import/export company - the competition study for an import/export company

The Strategy

Development plan.

Our three-year development plan for the import/export company is designed to establish a strong foothold in the international trade market.

In the first year, we will concentrate on building a robust network of suppliers and buyers, focusing on high-demand products and ensuring compliance with trade regulations.

The second year will be dedicated to expanding our market reach by entering new territories and diversifying our product portfolio to cater to a broader audience.

In the third year, we aim to solidify our presence in the industry by enhancing our logistics, customer service, and exploring strategic partnerships with local and international businesses.

Throughout this period, we will prioritize efficiency, customer satisfaction, and adaptability to the dynamic global market conditions to secure our growth and success.

Business Model Canvas

The Business Model Canvas for our import/export company targets businesses seeking reliable access to international markets for their products, as well as those looking to source goods from abroad.

Our value proposition is centered on providing seamless trade solutions, competitive pricing, and ensuring product quality and compliance.

We conduct our operations through direct sales channels, online platforms, and through partnerships with local distributors, utilizing our key resources such as our global trade network and logistics expertise.

Key activities include market research, negotiation, logistics management, and customer support.

Our revenue streams are generated from service fees, commissions on transactions, and margins on products traded, while our costs are mainly associated with logistics, operations, and marketing.

Access a comprehensive and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is built on establishing trust and demonstrating expertise in the import/export field.

We aim to educate potential clients about the advantages of our services and the efficiency of our trade processes. Our approach includes targeted online campaigns, participation in trade shows, and the creation of informative content on international trade regulations and trends.

We will also develop partnerships with industry leaders to enhance our credibility and reach.

Additionally, we will leverage social media and professional networking platforms to connect with businesses worldwide, while emphasizing our commitment to providing exceptional trade services.

Risk Policy

The risk policy of our import/export company is designed to mitigate risks associated with international trade, such as currency fluctuations, compliance with trade laws, and supply chain disruptions.

We employ rigorous due diligence procedures, engage in hedging strategies to manage currency risks, and maintain strong relationships with logistics providers to ensure supply chain reliability.

Regular audits and compliance checks are conducted to adhere to international trade regulations. We also maintain a conservative financial strategy to manage operational costs effectively.

Furthermore, we have comprehensive insurance coverage to protect against unforeseen events and liabilities. Our priority is to conduct secure and efficient trade operations while safeguarding the interests of our clients and our business.

Why Our Project is Viable

We envision establishing an import/export company that serves as a bridge between markets, facilitating the flow of goods and contributing to global commerce.

With our strategic approach to market entry, commitment to service excellence, and adaptability to market trends, we are confident in our ability to thrive in the competitive world of international trade.

We are excited about the opportunity to foster global business connections and drive growth for our clients and our company.

We remain open to innovation and strategic shifts to navigate the complexities of global trade, and we look forward to the prosperous future of our import/export venture.

You can also read our articles about: - the Business Model Canvas of an import/export company - the marketing strategy for an import/export company

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for an import/export company and our financial plan for an import/export company .

Initial expenses for our import/export company include setting up a robust logistics network, securing partnerships with reliable suppliers and distributors, obtaining the necessary licenses and permits for international trade, investing in a customer relationship management (CRM) system, and costs related to brand creation and launching targeted marketing campaigns to establish our presence in the market.

Our revenue assumptions are based on a comprehensive analysis of global market trends, the demand for specific products in various regions, and the potential for competitive pricing.

We anticipate a steady increase in trade volume, starting conservatively and expanding as our network and reputation in the import/export industry grow.

The projected income statement indicates expected revenues from our trading activities, cost of goods sold (including freight, tariffs, and insurance), and operating expenses (office rent, marketing, salaries, etc.).

This results in a forecasted net profit essential for assessing the long-term viability of our business.

The projected balance sheet reflects assets specific to our business, such as inventory, accounts receivable, and liabilities including debts and anticipated operational expenses.

It shows the overall financial health of our import/export company at the end of each fiscal period.

Our projected cash flow statement details incoming and outgoing cash flows, allowing us to anticipate our cash needs at any given time. This will enable us to effectively manage our finances and avoid liquidity issues.

The projected financing plan lists the specific financing sources we plan to use to cover our startup and operational expenses.

The working capital requirement for our import/export company will be closely monitored to ensure we have the necessary liquidity to finance our daily operations, including purchasing inventory, managing supplier payments, and covering overhead costs.

The break-even point specific to our project is the level of sales needed to cover all our costs, including startup expenses, and begin generating a profit.

It will indicate when our business will become financially sustainable.

Performance indicators we will track include the gross margin on our traded goods, the inventory turnover ratio to assess the efficiency of our stock management, and the return on investment to measure the profitability of the capital invested in our business.

These indicators will help us evaluate the financial health and overall success of our import/export company.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for an import/export company .

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Import Export Business Plan Template

Written by Dave Lavinsky

Import-Export Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their import-export businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an import-export business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your import-export business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start an import-export business, or grow your existing business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your import-export business in order to improve your chances of success. Your import-export business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Import-Export Businesses

With regards to funding, the main sources of funding for an import-export business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the lender will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for social media marketing businesses.

Finish Your Business Plan Today!

How to write a business plan for an import-export company.

If you want to start an import-export business or expand your current one, you need a business plan. Below are links to each section of your import-export business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of import-export business you are operating and its status. For example, are you a startup, do you have an import-export business that you would like to grow, or are you operating import-export companies in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the import-export industry. Discuss the type of import-export business you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of import-export business you are operating.

For example, you might operate one of the following types of import-export companies:

• Export management company – these types of businesses handle all the details (hiring distributors, handling logistics, creating marketing materials, etc) for companies wishing to export a product.
• Export trading company – these types of businesses determine what products foreign buyers want, and then find domestic companies who make the product.
• Import-export merchant (or free agent) – this type of business buys merchandise from a manufacturer, and resells that merchandise around the world.

In addition to explaining the type of import-export business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the volume of products you have exported or imported, number of import-export contracts signed, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the import-export industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the import-export industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your import-export business plan:

• How big is the import-export industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your import-export business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your import-export business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: manufacturers, wholesalers, retailers, and consumers.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of import-export business you operate. Clearly, individuals looking to purchase coffee beans online would respond to different marketing promotions than mobile phone manufacturers, for example.

Try to break out your target market in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most import-export companies primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

Finish Your Import Export Business Plan in 1 Day!

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other import-export companies.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes manufacturers with vertically integrated distribution operations, or consumers who prefer to purchase similar products made domestically.

With regards to direct competition, you want to describe the other import-export companies with which you compete. Most likely, your direct competitors will be import-export businesses located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• Do they specialize in specific products, or in imports from a specific country or region?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide a wider variety of products or maintain distribution contracts with more manufacturers?
• Will you offer extra services, such as brokerage?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an import-export business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of import-export company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to mobile phones, will your import-export business offer other consumer electronics such as laptops or wireless headphones?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location through which you will sell your imported/exported goods. For example, will you distribute your goods directly to consumers online, or will you maintain supply contracts with retailers and wholesalers? In this section, document each method by which you will sell your products.

Promotions : The final part of your import-export marketing plan is the promotions section. Here you will document how you will drive customers to your business. The following are some promotional methods you might consider:

• Advertising in trade papers and magazines
• Direct contact with potential clients (cold calling)
• Social media marketing
• Exhibits at Trade Shows

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your import-export business, including determining which products are needed, sourcing product manufacturers, securing and maintaining all necessary licenses and permits, arranging logistics, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sign your 100 th supply contract, or when you hope to reach $X in revenue. It could also be when you expect to expand your import-export business to a new market.  

Management Team

To demonstrate your import-export business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing import-export companies. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in logistics, or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you import from one country, or will you operate globally? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your import-export business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing an import-export business:

• Warehouse build-out including fixtures, construction, etc.
• Cost of buying or leasing the necessary transportation equipment (containers, cargo ship / airplane, etc.), or otherwise securing the means of transporting your goods
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your warehouse lease, or contracts with manufacturers and distributors.  

Putting together a business plan for your import-export business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the import-export industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful import-export business.  

Import Export Business Plan FAQs

What is the easiest way to complete my import export business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Import Export Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of import export business you are operating and the status; for example, are you a startup, do you have an import export business that you would like to grow, or are you operating a chain of import export businesses?

Don’t you wish there was a faster, easier way to finish your Import Export business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.

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Home » How to Write a Business Plan for Your Import-Export Business

How to Write a Business Plan for Your Import-Export Business

January 20, 2021

The world is more interconnected than it’s ever been. This provides a perfect opportunity for you to create your own import-export business. Whether it’s importing beautiful textiles from another continent or exporting local Canadian products abroad, all you need is passion and drive to get started.

You probably have plenty of ideas swirling around in your head, but the only way to make your business a reality and ensure your success is to write a winning business plan. Business plans are notoriously long and complex but don’t be disheartened. Here are 6 steps to writing the perfect business plan for your import-export company:

1. Start with an Executive Summary.

Think of this as the ultimate introduction to your business. It should concisely delineate exactly what you want as a business owner. Remember, you need to know where your business is going. It’s up to you to clarify your vision. No one is going to be as passionate about your import-export storefront as you are.

Your executive summary should have:

• Your business concept : what you’ll sell, who will purchase it, and why your business will work
• Financial points : your sales, profits, cash flows, and ROI
• Required finances : what capital is needed and how it will be used
• Current business state : a short history of your business including key members of staff
• Achievements : may include test marketing, facility locations, important contracts, etc.

Keep it short and sweet. Ideally, your executive summary will be no more than half a page. The rest of your business plan is where you’ll go into greater detail about these components.

It might be helpful to go through How to Start an Import Export Business before you create your executive summary to ensure everything is carefully thought out before you present it in your business plan.

2. Include a Business Description.

This is your opportunity to describe exactly what you’re importing or exporting and how it will succeed. Are you importing Congolese avocados? Show how you can guarantee perfect ripeness when they reach stores. Are you exporting blenders to Bolivia? Demonstrate you’ve found the perfect blender to suit the demand of that market.

Here are some questions to consider and incorporate:

• How does the industry look now and how might it change in the future?
• Is your business brand new or already established?
• What kind of business is it (e.g. partnership, corporation)?
• What are the ins and outs of the distribution of your product?
• How is your business better than your competitors?
• What exactly makes your business profitable?

Don’t forget insurance. Investors and lenders need to see you’re responsible and won’t lose money from major oversights. You might think skipping product insurance will help you make more money, but this is a huge mistake in the long run. Find a premium insurance company and include that information in your business description.

3. Conduct a Market Analysis.

Roll up your sleeves—this part takes a lot of effort. If you put the work in and do  the research, it will pay off. The point of your market analysis is to demonstrate your knowledge of the market and your ability to claim a significant share of it. 

A great market analysis can look like this:

• Define the market : talk about size, trends, rules and regulations, prospective growth areas, and sales potential
• Nail down the total feasible market : specifically address the portion of the market your business can realistically capture
• Estimate market share : take into consideration industry growth and your product’s life cycle
• Determine pricing : discuss your reasons for pricing and how you will cover costs
• Explain your promotion strategy : this includes advertising, packaging, PR, etc.

Factor in exchange rates. As you’re figuring out your price, be sure to include  exchange rates in your calculations. Neglecting this could sink your business. You might want to consider using the local currency of the country you’re working with, especially if they use an international currency such as euros or US dollars. Are you planning on exporting to the EU? Don’t miss this helpful guide .

4. Summarize a Competitive Analysis.

Not quite the same as your market analysis, your competitive analysis focuses mainly on the strengths and weaknesses of your competitors. Planning to import Italian cars? Put yourself in your buyer’s shoes. What options do they have for purchasing an Italian car? What are the strengths and weaknesses of each option?

After you make a list of all your potential competitors, you’ll want to organize all the information in a competitive strength grid, which outlines which competitors are strong in each skill category and which ones are weak (e.g. price, product quality).

Lastly, you’ll need to clearly define your competitive advantage. Do you have a  lower price point? Are your cars of better quality? Do you have a more solid advertising plan? Can you break into a new market? 

Your price equates to your product’s value. If you price your product too far below your competitors, it may cheapen your product in the eyes of consumers. There’s nothing wrong with trying to outpace your competitors in pricing, but make sure you don’t overdo it and cause your customers to overlook your product due to a lower perceived quality.

5. Create a Design & Development Plan.

This is where you focus on details, details, details. How are you going to make your business a reality? Now is your opportunity to get it all on paper.

Here are some questions to answer in this section:

• What are your goals for product development?
• Which procedures will you have in place for product review, marketing, and distribution?
• What is your exact production schedule?
• What’s in your detailed development budget?
• How many employees need to be recruited and in what areas?
• What possible risks are apparent?
• How will your business function on a continuing basis?
• What is the organizational structure of your business?

If you’ve left any of these questions unanswered, you’ll need to add more details.

Don’t go it alone. You might prefer to do everything on your own, but that will only leave you overworked and exhausted. There are so many specifics in the import-export world that you can easily get overwhelmed. Do yourself a favor and hire a team to help.

Are you planning on selling your product on Amazon? Check out these useful logistical tips .

6. Don’t Forget the Financial Data.

When it comes down to it, this is what investors really want to see. This is how  they’ll determine whether your business – anything from exporting dresses to importing sailboats – will succeed or not.

You’ll need to include three statements in the financial section:

• Income statement : a simple report on monthly sales and expenses
• Cash flow statement : a schedule of what money is needed and where it will come from
• Balance sheet : a summary of your business’s assets, liabilities, and equity

Let your words be few. You should include a short analysis statement after the income statement, but resist the temptation to ramble. The idea is to let the financial statements in this portion speak for themselves.

Once you’ve finished your business plan, send it out to investors and lenders you’ve already established a connection with. Make big asks—you never know who might say yes! With an excellent import export business plan at your disposal, you’re well on your way to becoming a successful business owner.

BorderBuddy creates importing and exporting solutions for any size of business. We specialize in smoothing the process for you—handling the paperwork and logistics so you can focus on growing your company. We love supporting small businesses and are proud of the success stories we’ve been a part of. Give us a call and let us help you create a unique and sustainable import-export business today.

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How to write a business plan for an import-export company?

Creating a business plan for an import-export company is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating an import-export company business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for an import-export company?

• What information is needed to create a business plan for an import-export company?
• What goes in the financial forecast for an import-export company?
• What goes in the written part of an import-export company business plan?
• What tool can I use to write my import-export company business plan?

Understanding the document's scope and goals will help you easily grasp its structure and content. Before diving into the specifics of the plan, let's take a moment to explore the key reasons why having an import-export company business plan is so crucial.

To have a clear roadmap to grow the business

It's rarely business as usual for small businesses. The economy follows cycles where years of growth are followed by recessions, and the business environment is always changing with new technologies, new regulations, new competitors, and new consumer behaviours appearing all the time...

In this context, running a business without a clear roadmap is like driving blindfolded: it's dangerous at best. That's why writing a business plan for an import-export company is essential to create successful and sustainable businesses.

To write an effective business plan, you will need to take stock of where you are (if you are already in business) and where you want the business to go in the next three to five years.

Once you know where you want your import-export company to be, you'll have to identify:

• what resources (human, equipment, and capital) are needed to get there,
• at what pace the business needs to progress to get there in time,
• and what risks you'll face along the way.

Going through this process regularly is beneficial, both for startups and existing companies, as it helps make informed decisions about how best to allocate resources to ensure the long-term success of the business.

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To get visibility on future cash flows

If your small import-export company runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your import-export company's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your import-export company business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your import-export company's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

A detailed business plan becomes a crucial tool when seeking financing from banks or investors for your import-export company.

Investing and lending to small businesses are very risky activities given how fragile they are. Therefore, financiers have to take extra precautions before putting their capital at risk.

At a minimum, financiers will want to ensure that you have a clear roadmap and a solid understanding of your future cash flows (like we just explained above). But they will also want to ensure that your business plan fits the risk/reward profile they seek.

This will off-course vary from bank to bank and investor to investor, but as a rule of thumb. Banks will want to see a conservative financial management style (low risk), and they will use the information in your business plan to assess your borrowing capacity — the level of debt they think your business can comfortably handle — and your ability to repay the loan. This evaluation will determine whether they'll provide credit to your import-export company and the terms of the agreement.

Whereas investors will carefully analyze your business plan to gauge the potential return on their investment. Their focus lies on evidence indicating your import-export company's potential for high growth, profitability, and consistent cash flow generation over time.

Now that you recognize the importance of creating a business plan for your import-export company, let's explore what information is required to create a compelling plan.

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Information needed to create a business plan for an import-export company

Drafting an import-export company business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for an import-export company

Before you begin writing your business plan for an import-export company, conducting market research is a critical step in ensuring precise and realistic financial projections.

Market research grants you valuable insights into your target customer base, competitors, pricing strategies, and other crucial factors that can impact the success of your business.

In the course of this research, you may stumble upon trends that could impact your import-export company.

Your market research might reveal that your import-export company could experience increased demand for certain products, due to changing consumer preferences. Additionally, it might reveal that customers may increasingly prefer online purchasing, so your company could benefit from investing in e-commerce capabilities.

Such market trends play a pivotal role in revenue forecasting, as they provide essential data regarding potential customers' spending habits and preferences.

By integrating these findings into your financial projections, you can provide investors with more accurate information, enabling them to make well-informed decisions about investing in your import-export company.

Developing the marketing plan for an import-export company

Before delving into your import-export company business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and capital expenditure requirements of an import-export company

Whether you are starting or expanding an import-export company, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

The staffing costs for an import-export company might include wages for employees, such as sales representatives, administrative staff, and customer service personnel. The company may also need to pay for any necessary training or certifications for employees. Equipment costs may include computers, phones, and other office equipment, as well as vehicles for transporting goods. Additionally, the company may need to purchase software to help manage their operations, or specialized equipment for handling or storing goods.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your import-export company, it is time to start creating your financial forecast.

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What goes into your import-export company's financial forecast?

The financial forecast of your import-export company will enable you to assess the profitability potential of your business in the coming years and how much capital is required to fund the actions planned in the business plan.

The four key outputs of a financial forecast for a import-export company are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's take a closer look at each of these.

The projected P&L statement

The projected P&L statement for an import-export company shows how much revenue and profit your business is expected to make in the future.

A healthy import-export company's P&L statement should show:

• Sales growing at (minimum) or above (better) inflation
• Stable (minimum) or expanding (better) profit margins
• A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established import-export company.

The forecasted balance sheet of your import-export company

The projected balance sheet of your import-export company will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

• Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
• Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

Analysing your import-export company projected balance sheet provides an understanding of your import-export company's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your import-export company's liquidity and solvency:

• A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
• A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The projected cash flow statement

A cash flow forecast for an import-export company shows how much cash the business is projected to generate or consume.

The cash flow statement is divided into 3 main areas:

• The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
• The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
• The financing cash flow shows how much cash is raised or distributed to investors and lenders

Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

It is also a best practice to include a monthly cash flow statement in the appendices of your import-export company business plan so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan, also known as a sources and uses table, is a valuable resource to have in your business plan when starting your import-export company as it reveals the origins of the money needed to establish the business (sources) and how it will be allocated (uses).

Having this table helps show what costs are involved in setting up your import-export company, how risks are shared between founders, investors and lenders, and what the starting cash position will be. This cash position needs to be sufficient to sustain operations until the business reaches a break-even point.

Now that you have a clear understanding of what goes into the financial forecast of your import-export company business plan, let's shift our focus to the written part of the plan.

The written part of an import-export company business plan

The written part of an import-export company business plan plays a key role: it lays out the plan of action you intend to execute to seize the commercial opportunity you've identified on the market and provides the context needed for the reader to decide if they believe your plan to be achievable and your financial forecast to be realistic.

The written part of an import-export company business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

In your import-export company's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your import-export company, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

As you build your import-export company business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide valuable insights into the legal structure of the business, the identities of the owners, and their respective investments and ownership stakes. This level of transparency is vital, particularly if you're seeking financing, as it clarifies which legal entity will receive the funds and who holds the reins of the business.

Moving to the location part, you'll offer a comprehensive view of the company's premises and articulate why this specific location is strategic for the business, emphasizing factors like catchment area, accessibility, and nearby amenities.

When describing the location of your import-export company, you could emphasize its strategic proximity to many ports, which could provide easy access to international markets. You may also note its access to a skilled labor force in the region, as well as its potential for growth due to the large population in the area. Moreover, you could point out the potential for connecting with other businesses in the area that could be beneficial to your company. All of these factors could make your import-export company an attractive option for a third party financier.

Lastly, you should introduce your esteemed management team. Provide a thorough explanation of each member's role, background, and extensive experience.

It's equally important to highlight any past successes the management team has achieved and underscore the duration they've been working together. This information will instil trust in potential lenders or investors, showcasing the strength and expertise of your leadership team and their ability to deliver the business plan.

3. The products and services section

The products and services section of your import-export company business plan should include a detailed description of what your company sells to its customers. 

For example, your import-export company might offer sourcing services to its customers, helping them to find and purchase products from other countries. It could also provide freight forwarding and customs clearance help to get goods safely to their destination. Finally, it could also offer consulting services to help customers navigate international trade regulations and export laws.

The reader will want to understand what makes your import-export company unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When outlining your market analysis in the import-export company business plan, it's essential to include comprehensive details about customers' demographics and segmentation, target market, competition, barriers to entry, and relevant regulations.

The primary aim of this section is to give the reader an understanding of the market size and appeal while demonstrating your expertise in the industry.

To begin, delve into the demographics and segmentation subsection, providing an overview of the addressable market for your import-export company, key marketplace trends, and introducing various customer segments and their preferences in terms of purchasing habits and budgets.

Next, shift your focus to the target market subsection, where you can zoom in on the specific customer segments your import-export company targets. Explain how your products and services are tailored to meet the unique needs of these customers.

For example, your target market might include small businesses that are looking to expand their product portfolio. These businesses are typically looking for cost-effective solutions for sourcing and importing products from abroad. They may be looking for help navigating international regulations and standards, and often require assistance with logistics and shipping.

In the competition subsection, introduce your main competitors and explain what sets your import-export company apart from them.

Finally, round off your market analysis by providing an overview of the main regulations that apply to your import-export company.

5. The strategy section

When writing the strategy section of a business plan for your import-export company, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

The competitive edge subsection should explain what sets your company apart from its competitors. This part is especially key if you are writing the business plan of a startup, as you have to make a name for yourself in the marketplace against established players.

The pricing strategy subsection should demonstrate how you intend to remain profitable while still offering competitive prices to your customers.

The sales & marketing plan should outline how you intend to reach out and acquire new customers, as well as retain existing ones with loyalty programs or special offers. 

The milestones subsection should outline what your company has achieved to date, and its main objectives for the years to come - along with dates so that everyone involved has clear expectations of when progress can be expected.

The risks and mitigants subsection should list the main risks that jeopardize the execution of your plan and explain what measures you have taken to minimize these. This is essential in order for investors or lenders to feel secure in investing in your venture.

Your import-export company may face a variety of risks. For example, the company could experience a sudden change in currency exchange rates, which could significantly affect the profitability of the business. Additionally, the company might experience delays in shipping times due to unexpected weather or other logistical issues, which could lead to customer dissatisfaction. It is important to be aware of these potential risks and to have strategies in place to mitigate them.

6. The operations section

The operations of your import-export company must be presented in detail in your business plan.

The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).

You should then state the operating hours of your import-export company - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.

The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.

You could have key assets such as a fleet of trucks and a warehouse for storing goods. Additionally, the company might have intellectual property like a set of operational procedures that allow for efficient transport of goods or access to exclusive deals with suppliers that could give them a competitive advantage.

Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of an import-export company business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my import-export company's business plan?

In this section, we will be reviewing the two main options for writing an import-export company business plan efficiently:

• Using specialized software,
• Outsourcing the drafting to the business plan writer.

Using an online business plan software for your import-export company's business plan

Using online business planning software is the most efficient and modern way to write an import-export company business plan.

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your import-export company's business plan

Outsourcing your import-export company business plan to a business plan writer can also be a viable option.

Business plan writers are skilled in creating error-free business plans and accurate financial forecasts. Moreover, hiring a consultant can save you valuable time, allowing you to focus on day-to-day business operations.

However, it's essential to be aware that hiring business plan writers will be expensive, as you're not only paying for their time but also the software they use and their profit margin.

Based on experience, you should budget at least £1.5k ($2.0k) excluding tax for a comprehensive business plan, and more if you require changes after initial discussions with lenders or investors.

Also, exercise caution when seeking investment. Investors prefer their funds to be directed towards business growth rather than spent on consulting fees. Therefore, the amount you spend on business plan writing services and other consulting services should be insignificant compared to the amount raised.

Keep in mind that one drawback is that you usually don't own the business plan itself; you only receive the output, while the actual document is saved in the consultant's business planning software. This can make it challenging to update the document without retaining the consultant's services.

For these reasons, carefully consider outsourcing your import-export company business plan to a business plan writer, weighing the advantages and disadvantages of seeking outside assistance.

Why not create your import-export company's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write an import-export company business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my import-export company business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

• Word processors don't include instructions and examples for each part of your business plan
• Word processors don't update your numbers automatically when they change in your forecast
• Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating an import-export company business plan for some entrepreneurs, it is by far not the best or most efficient solution.

• Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
• A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
• A business plan has 2 main parts: a financial forecast outlining the funding requirements of your import-export company and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your import-export company business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

• How to write a business plan to secure a bank loan?
• Key steps to write a business plan?
• Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing an import-export company? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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How to Start an Import/Export Business

Main Sections In This Post Steps To Starting An Import/Export Business Points to Consider Knowledge Is Power Featured Video

Embarking on Import/Export Business

A step-by-step guide to launch, along with practical examples. Leverage “Knowledge Is Power” for current insights—resources for startup and ongoing success.

Let’s get started with the steps.

Steps to Starting an Import/Export Business

Below are the steps to starting an Import/Export business.

Each step is linked to a specific section, allowing you to jump to your desired section or scroll to follow the steps in order.

• An Overview of What You’re Getting Into
• Import/Export Business Overview
• Researching Your Import/Export Business
• Looking at Financials
• Choosing A Business Location
• Creating Your Mission Statement
• Creating A Unique Selling Proposition (USP)
• Choose an Import/Export Business Name
• Register Your Company
• Create Your Corporate Identity
• Writing a Business Plan
• Banking Considerations
• Getting the Funds for Your Operation
• Software Setup
• Business Insurance Considerations
• Supplier and Service Provider Considerations
• Physical Setup
• Creating a Website
• Create an External Support Team
• Hiring Employees

1.  An Overview of What You’re Getting Into

Is Starting an Import/Export Business the Right Step for You?

There is a key factor to succeeding in business, and that factor is you!

Understanding Your Passion

Understanding how you feel about owning and running an Import/Export business is important.

The Power of Passion

Passion is a crucial element for success in your own business.

The Driving Force

Passion is the driving force you need.

When you’re passionate about your business and problems, arise, you look for solutions. On the other hand, without it, you’ll look for a way out.

Assessing Your Passion

How passionate are you about owning your own Import/Export business?

Let’s go through a short exercise. Take a few minutes to think about this. It’s important before moving forward.

Imagine you won the lottery, quit your job, traveled the world, and bought your dream home, cars, and everything you ever wanted. You have given to charity and causes you believe in. You have helped your friends and family with more than enough money to live a better life.

It’s been three years since you won the lottery, and you still have 10 million dollars left in cash and investments that provide more than enough income flowing in every month.

Passion’s Litmus Test

Here is an important question to think about!

Now that you have achieved everything you have ever wanted, would you still start an Import/Export business?

If your answer is yes, it shows that you are passionate about owning and operating an Import/Export business and are heading in the right direction.

However, if your answer is no, it prompts another question:

Alternative Paths

What would you prefer to do instead? Perhaps, you should pursue that path instead.

The Sum of It

In summary, you need to be passionate about the business you plan to start because it’s something you want to do!

When your only concern is the money generated, you won’t be as successful as starting a business you are passionate about.

For More, See How Passion Affects Your Business . Also, see, Considerations Before You Start Your Business to identify key points for a new business owner.

2. Gaining an Overview of Owning an Import/Export Business

Next, let’s spend some time on key issues to give you an overview of what to expect from owning and running your business.

a.) A Quick Overview of Owning an Import/Export Business

An Import/Export business operates at the heart of international trade, facilitating the exchange of products between countries.

This dynamic venture involves sourcing products from one country and distributing them in another, creating a bridge between different markets and cultures.

Inward and Outward Flow

In the import aspect, the business identifies products in foreign markets holding local demand, negotiates deals with manufacturers and suppliers, and manages the logistics to bring these products to the home market.

On the export side, the business identifies local products with potential appeal in foreign markets, connects with buyers, and oversees delivering products to international customers.

Driving Global Economy

This type of commerce plays a pivotal role in diversifying markets and supporting economic growth.

It introduces products that might not be available otherwise, enriching consumer choices globally.

Moreover, it creates opportunities for manufacturers and producers to tap into wider markets, expanding their reach beyond national borders.

Navigating Challenges

Running an Import/Export business requires navigating intricate regulations, customs procedures, currency fluctuations, and cultural differences.

Adaptability, cultural sensitivity, and strong logistical planning are crucial to success.

In essence, this venture isn’t just about moving products—it’s about fostering connections and contributing to the intricate web of global trade.

Daily Operations in Import/Export Business

• Market Research: Identifying demand, trends, and potential markets.
• Supplier Outreach: Connecting with manufacturers and suppliers.
• Negotiations: Securing favorable terms, including pricing and quantities.
• Logistics: Organizing shipping, customs, and warehousing.
• Documentation: Managing permits, licenses, and trade regulations.
• Quality Control: Ensuring products meet standards.
• Sales and Marketing: Attracting clients, promoting products.
• Financial Management: Budgeting, pricing, and payment handling.
• Relationship Building: Cultivating partnerships globally.
• Staying Updated: Adapting to evolving regulations and markets.

Running an Import/Export business demands adaptability, negotiation skills, market awareness, and logistical efficiency. It’s a dynamic venture with potential for growth in the global marketplace.

b.) Import/Export Business Models

Variety of Import/Export Business Models

1. Trading Company: Acting as an intermediary, trading companies buy products from manufacturers and sell them to foreign markets. They don’t alter products significantly.

2. Distributorship: These businesses secure exclusive distribution rights within a specific region. They focus on building a strong local presence and managing distribution networks.

3. Export Management Company (EMC): EMCs work on behalf of manufacturers, handling all aspects of exporting. They earn commission based on sales.

4. Import/Export Agent: Agents connect buyers and sellers, earning a commission for successful transactions. They’re valuable for those with limited resources.

5. Dropshipping: This model involves selling products without holding inventory. When a sale occurs, products are shipped directly from the supplier to the customer.

6. Licensing and Franchising: Foreign companies can produce and sell products using your brand. Franchising involves replicating your business model in other countries.

Strategic Decision

Choosing the right business model from the beginning is crucial, as switching later is challenging. Identifying a profitable and high-demand niche is equally vital.

Research extensively, analyze market trends , and align your strengths with the chosen model. Success in the import/export realm hinges on astute planning and a clear strategic direction.

c.) Pros and Cons of Owning an Import/Export Business

Pros of Owning an Import/Export Business

• Entrepreneurial Freedom: You can be your own boss, making independent decisions to shape your business.
• Creativity Unleashed: Your business is a canvas for innovation and new ideas.
• Potential for High Revenue: A successful venture can yield substantial profits.
• Flexibility: Successful operations and a capable team can afford you flexible work hours.
• Control Over Environment: You have the power to create a work environment that suits you.
• Global Reach: Connecting with diverse markets opens expansive opportunities.
• Learning Opportunity: Navigating international trade sharpens your skills.
• Cultural Exposure: Engaging with different cultures enriches your perspective.

Cons of Running an Import/Export Business

• Accountability: Problems and challenges rest on your shoulders.
• Irregular Income: Earnings can be unpredictable in the initial stages.
• Tough Start-Up: The beginning can be financially and operationally demanding.
• Customer Acquisition: Gaining and retaining customers requires dedicated efforts.
• Long Work Hours: Expectations of dedication may lead to extended workdays.
• Pressure to Thrive: Success pressure is always present in a competitive landscape.
• Significant Investment: Starting often demands substantial capital outlay.
• Adaptation Challenges: Constant changes in regulations and markets require adaptability.
• Inherent Risks: Business ownership comes with financial and operational risks.

Navigating the Journey

Owning an Import/Export business offers remarkable potential, but embracing both its rewards and challenges is vital.

Careful planning, resilience, and a willingness to learn are key to thriving in this dynamic domain.

For more, see Pros and Cons of Starting a Small Business.

d.) Questions You Need to Consider for Your Import/Export Business

Preparing for Your Import/Export Business Journey

Addressing the following inquiries prepare you for potential challenges in your Import/Export venture.

Before You Begin: Key Considerations

• Business Model: What Import/Export model resonates with your goals?
• Work Dynamics: Will you handle tasks solo or hire a team?
• Management Approach: Do you plan to lead or hire a manager?
• Customer Acquisition: How will you attract your initial customers?
• Customer Retention: What strategies ensure customer loyalty?
• Partnerships: Are partnerships or investors on your radar?
• Physical or Digital: Will your business be brick-and-mortar or online?
• Growth Contemplation: Have you envisioned your business’s long-term expansion?

Insightful Planning for Success

As you contemplate these questions, you pave the way for a more informed and strategic approach to your Import/Export enterprise.

Navigating the intricacies of global trade demands thoughtful consideration, ensuring your business is primed for success and sustainability.

3. Research

Import/export business research.

Essential Research for Your Import/Export Business

Conducting thorough research before embarking on your venture is paramount. Quality information will illuminate your path, preventing unexpected hurdles.

Leveraging Expertise

Engage with experienced professionals in the Import/Export realm. Their insights provide dependable guidance honed by practical experience.

Invaluable Learning

Time spent with these experts is an invaluable opportunity. Their knowledge and seasoned experience offer priceless insights.

Guidance for Your Journey

I’ve crafted an article outlining methods to identify and approach these knowledgeable individuals.

These steps extend beyond this post. Reading the article via the link below will provide a comprehensive understanding of your forthcoming endeavor.

Empower yourself with the wisdom of those who’ve walked the path.

This approach ensures you’re well-prepared to navigate the complexities of the Import/Export landscape.

See An Inside Look Into the Business You Want To Start for all the details.

Target Audience

Understanding Your Target Audience in Import/Export Business

Knowing your target market is key. Tailoring your offerings to their preferences and needs enhances your Import/Export business’s appeal.

Identifying Potential Interest: Target Market Ideas

• Small Businesses: Seeking diverse product sourcing.
• Manufacturers: Exploring global markets for distribution.
• Entrepreneurs: Launching unique foreign products domestically.
• Online Retailers: Accessing unique goods for e-commerce.
• Wholesalers: Sourcing bulk products at competitive rates.
• Artisans: Seeking unique materials or components.
• Boutiques: Curating distinct products for niche markets.
• Global Brands: Expanding market presence through diversification.
• Trade Shows: Participants interested in product variety.
• Startups: Seeking cost-effective inventory solutions.

Catering to Success

Identifying your potential customers paves the way for strategic marketing and product offerings.

Knowing who values your Import/Export business’s offerings strengthens your competitive edge and positions you for growth.

For more, see How To Understand Your Target Market.

4. Looking at Financials:

Financial Overview of Your Import/Export Startup

Gain insights into startup costs, monthly outlays, revenues, and potential profits to steer your Import/Export venture toward success.

Startup Costs: Planning for a Smooth Launch

Accurate estimation of startup expenses is pivotal for a seamless launch.

Underestimation risks funds depletion, hindering your opening. Overestimation might deter potential investors.

Your expenses hinge on factors like scale, location, hiring , equipment, and leasing.

List your needs, gather prices, and anticipate unexpected costs during research.

For more detailed information, refer to my article on Estimating Startup Costs.

Sales and Profit: Foundations of Financial Success

Sales depend on product appeal, demand, and strategic marketing. To ensure profitability:

• Develop sought-after products.
• Address market needs.
• Skillfully promote your business.

Profit Calculation: Delving Beyond Revenue

Profitability entails more than direct sales earnings. It involves considering rent, payroll , overhead, and other costs.

For More, See Estimating Profitability and Revenue.

Sufficient sales must cover monthly expenses and yield personal income. A well-balanced equation ensures a prosperous journey in the Import/Export domain.

Simple Sample: Financial Lists to Consider As a Starting Point

Note: Focus on the issues more than the numbers. The numbers are samples. Your estimates will differ due to how you set up your business, location, expenses, and revenues. 

 Sample List of Estimated Costs to Start a New Import/Export Business in the USA (lower and upper values):

• Business Registration and Licensing: $500 – $1,000
• Office Space (Deposit and Initial Setup): $5,000 – $10,000
• Initial Inventory Purchase: $10,000 – $50,000
• Import/Export Documentation and Compliance: $1,000 – $5,000
• Marketing and Branding: $2,000 – $7,000
• Transportation and Shipping Equipment: $5,000 – $20,000
• Website Development: $1,000 – $5,000
• Legal and Professional Consultation: $2,000 – $10,000
• Total Estimated Starting Costs: $26,500 – $108,000

Sample List of Estimated Monthly Expenses for an Import/Export Business in the USA:

• Rent for Office Space: $1,500 – $3,000
• Utilities (Electricity, Water, Internet): $200 – $500
• Salaries and Wages: $5,000 – $15,000
• Insurance: $300 – $800
• Loan Payments: $1,000 – $3,000
• Marketing and Advertising: $500 – $2,000
• Transportation and Shipping Costs: $2,000 – $6,000
• Legal and Compliance Fees: $300 – $1,000
• Total Monthly Expenses: $10,800 – $31,300

3. Sample of a Few Examples of Profit per Sale:

• Low-End Product: Profit of $10 – $50 per unit
• Mid-Range Product: Profit of $50 – $200 per unit
• High-End Product: Profit of $200 – $1,000 per unit

Finish Note: Your overall profit will depend on the monthly sales you can generate and your actual profit per sale.

These are samples so you can understand the issues to consider when planning to start your Import/Export business. So focus on the list and not the numbers.

Adjusting costs makes a significant difference in whether the business will be successful.

A slight shift in profit per sale on high-volume sales will make a difference in your overall profits.

Also, note many new businesses take time to become profitable because it takes building a customer base, building a reputation, and fine-tuning operations.

Your figures will be different. Every situation is different, and many factors come into play.

Research and Consider getting professional advice when calculating your business’s startup costs, expenses, and potential revenues and profits.

5. Choosing The Right Business Location

Strategic Location: Key to Business Success

The fate of your local brick-and-mortar business hinges heavily on your chosen site.

Demand Dynamics: A Decisive Factor

Operating where demand for your offerings is scarce spells failure even before launch.

Competitive Landscape: Finding the Sweet Spot

Overcrowded locales make market share acquisition a challenge.

Ideal Scenario: Balancing Act

Locate where demand and competition strike equilibrium.

Cost Considerations: Financial Prudence

Affordability is vital. A high population brings exposure, but expenses must not outweigh gains.

Balance Affordability and Sales Potential

Inexpensive sites need ample customer flow for sustainability.

Online Realm’s Flexibility

Even for online models, assess demand and rivalry closely.

Ultimate Influence on Success

In sum, location selection steers business destiny. Thoroughly research and analyze options. Your decision shapes your venture’s triumph.

For more about business locations, see Choosing The Best Location for Your Business.

6. Create Your Mission Statement

Guiding Your Business’s Purpose: The Role of a Mission Statement

A mission statement serves as a compass, aiding you in identifying your business’s core purpose.

It’s a reminder of the primary value you bring to customers and the community, ensuring you stay on track.

Mission Statement Examples for an Import/Export Business

• “Empowering Global Commerce: Connecting businesses worldwide, enriching markets with diverse products.”
• “Navigating Boundaries, Enhancing Lives: Bridging nations, offering quality goods to uplift lives globally.”
• “Driving Trade Diversity: Facilitating cross-cultural trade, fostering economic growth, one partnership at a time.”
• “Catalyzing Global Business: Facilitating seamless exchange, propelling businesses towards international success.”
• “Enriching Connections, Empowering Economies: Uniting markets through unparalleled import/export solutions.”

Steering Purpose and Value

These mission statement samples exemplify how your business’s fundamental aim can be succinctly captured. Such a statement keeps your endeavors aligned, ensuring the provision of exceptional value to both clientele and the community at large.

For more, see, How To Create a Mission Statement.

7. Creating A Unique Selling Proposition (USP)

Crafting Distinction: The Power of Unique Selling Proposition

A Unique Selling Proposition (USP) aids in discerning and crafting elements that set your business apart.

It’s a potent tool for creating something distinctive that resonates with customers.

Examples of USP for an Import/Export Business

• “Global Discovery Hub: Unearth unique products from every corner of the world, tailored for your market’s cravings.”
• “Seamless Sourcing Solutions: Our network guarantees streamlined access to the globe’s most sought-after products.”
• “Cultural Connection Catalyst: Bridging gaps with products that celebrate diversity, fostering international camaraderie.”
• “Reliable Worldwide Reach: Empowering businesses with consistent access to global markets, ensuring growth.”
• “Tailored Treasures, Globally Delivered: Transforming international products into local treasures, delivered at your doorstep.”

Carving Identity, Sustaining Success

These USP samples exemplify how to carve a unique business identity.

USP underscores your distinct value, magnetizing customers and cultivating lasting success.

8. Choose a Business Name

Crafting an Exceptional Business Name: A Vital Choice

Your business name plays a pivotal role in brand recognition.

Opt for a catchy, apt name that’s both easy to recall and pronounce. It’s a long-lasting decision that holds significance throughout your business journey.

Incorporating Factors for a Striking Name

Ensure your chosen name aligns with your venture’s essence.

It’s advisable to have a matching domain for an online presence. Verify name availability to avoid legal complications.

30 Import/Export Business Name Ideas: Fueling Creativity

• GlobalLink Commerce
• Horizon Trade Co.
• EchoCommerce
• MarketFusion Export
• Nexus Imports
• TerraTrade Connections
• WorldBridge Traders
• Aegis International
• SpectrumExports
• EchoSphere Imports
• PrimeWorld Traders
• TradeMosaic
• Echelon Global Goods
• Unity Exporters
• GlobeGlide Imports
• VentureHaven Traders
• EnrichGlobal Commerce
• InterLoom Trading Co.
• Skylight Exports
• ZenithCross Imports
• NexusSphere Trade
• VirtuTrade Global
• Infinite Horizons Commerce
• TerraTrek Traders
• PinnacleExports
• TradePulse International
• EnvisionEdge Imports
• SummitWorld Commerce
• EquiTrade Global

Igniting Brand Identity

These name suggestions spark your imaginative process, assisting you in forging a distinct business identity.

Pick a name resonating with your venture’s essence, securing a memorable position in the global business landscape.

For more, see the following articles:

• How To Register a Business Name
• Registering a Domain Name For Your Business

9. Register Your Company

Legal Foundations for Your Import/Export Business

Ensuring Compliance: An Imperative Step

Establishing your business on legal grounds is paramount.

Professional Consultation: A Wise Move

Consulting professional aids in legal assurance, optimal tax strategies, and liability management.

Common Business Registrations for an Import/Export Venture

• Sole Proprietorship: Individual ownership simplicity.
• Partnership: Shared responsibility and resources.
• Limited Liability Company (LLC): Personal liability protection.
• Corporation: Legal entity status, distinct from owners.

Permits and Licenses: Navigating Legal Terrain

• Business License: Operational legitimacy.
• Importer/Exporter License: Compliance for global trade.
• Sales Tax Permit: Tax collection eligibility.
• Customs Bond: Assurance for customs compliance.
• EIN (Employer Identification Number): Tax identification for businesses with employees.

Prioritizing Legal Adherence

By comprehending these legal aspects, your Import/Export business gains firm legal footing. Seek professional guidance, ensuring a compliant and thriving journey.

Registration:

• How to Register Your Business
• How To Register a DBA
• How to Register a Trademark
• How to Get a Business License

Business Structures:

• How to Choose a Business Structure
• Pros & Cons of a Sole Proprietorship
• How To Form an LLC
• How To Register a Business Partnership
• How To Form a Corporation
• How To Choose a Business Registration Service

10. Create Your Corporate Identity

Building a Strong Corporate Identity: A Design Emblem

Defining Corporate ID: Visual Business Representation

A Corporate ID encapsulates your business essence in design.

Key Elements of Corporate ID: Crafting Visual Cohesion

Components encompass logo, business cards, website, signage, stationery, and promotional materials.

Consistency is King: Leaving a Lasting Impression

A uniform, professional design resonates with both new and loyal customers.

Crafting Visual Excellence

Crafting a cohesive Corporate ID leaves an indelible mark.

A seamless design across mediums elevates your business presence, engaging customers and building brand loyalty.

You can see our page for an overview of your logo , business cards , website , and business sign , or see A Complete Introduction to Corporate Identity Packages.

11. Writing a Business Plan

Strategic Roadmap: The Significance of a Business Plan

Pivotal Document: Navigating Growth and Investment

A business plan serves dual roles: securing funding and guiding operations. It outlines your business’s course from inception to full operation.

Vision in Ink: Cultivating Your Business’s Blueprint

Creating a business plan is a meticulous process. It encapsulates your envisioned business reality, demanding time and consideration.

Comprehensive Vision: A Path to Clarity and Success

Crafting a business plan reaps the rewards. It unveils your business’s essentials, ensuring a clear roadmap for commencement and operation.

Approaches to Formulating Your Plan

Options abound: crafting from scratch, seeking professional assistance, employing templates, or using business plan software.

Personal Involvement: A Touch of Distinctiveness

Active engagement is vital, particularly when collaborating with a professional. Distinctiveness and effective communication are paramount.

Adaptability and Optimization: An Evolving Blueprint

Your business plan evolves alongside the experience. Regular review and optimization ensure congruence with operational realities.

Business Plan Template for an Import/Export Business

I. Executive Summary:

• Overview: Briefly describe your Import/Export business, mission, and vision.
• Objectives: Key business goals and milestones to achieve.
• Ownership Structure: Information on the business’s ownership, whether a sole proprietorship, partnership, or corporation.

II. Business Description:

• Industry Background: Description of the import/export industry and current market trends.
• Business Offering: Detailed explanation of the products or services you import or export.
• Target Market: Outline your primary target markets, including geographic locations and demographics.

III. Market Analysis:

• Market Needs: Identify the needs of your target market and how your business will meet those needs.
• Competitive Analysis: Analyze your main competitors, their strengths and weaknesses, and your competitive edge.

IV. Marketing and Sales Strategy:

• Marketing Plan: Detail your marketing strategies, channels, and tools.
• Sales Strategy: Outline your sales techniques, processes, and targets.

V. Operations Plan:

• Location: Description of the business location, considering logistics and accessibility.
• Technology Needs: Outline the technology required for operations, including software for tracking shipments.
• Supply Chain Management: Detail your strategies for sourcing products, managing suppliers, and maintaining inventory.

VI. Financial Plan:

• Start-up Costs: Detailed estimate of the initial investment required.
• Revenue Projections: Monthly and yearly revenue forecasts.
• Expense Projections: Estimation of ongoing operational expenses, including loan payments.
• Break-even Analysis: Calculation of the point at which revenues equal expenses.

VII. Legal and Compliance:

• Licenses and Permits: List necessary licenses and permits for the import/export business.
• Regulations: Outline applicable international and domestic regulations and how you plan to comply.

VIII. Risk Management:

• Risk Assessment: Identify potential risks, such as currency fluctuations or regulatory changes.
• Mitigation Strategies: Outline strategies to mitigate those risks.

IX. Management and Personnel:

• Management Team: Profiles of the key management team members, including qualifications and experience.
• Organizational Structure: Description of the company’s organizational structure, including departments and roles.

X. Appendices and Supporting Documents:

• Financial Statements: Include any necessary financial statements, charts, or graphs.
• Legal Documents: Copies of relevant legal agreements, patents, or other intellectual property documentation.

XI. Conclusion:

• Summary: Concluding remarks summarizing the critical aspects of the business plan.
• Next Steps: Clearly outline the next steps and actions required to implement the plan.

Remember, this template is a starting point, and it should be customized to fit the unique needs and regulations related to your specific import/export business.

Conduct thorough research and consider seeking professional advice to ensure that all aspects are covered comprehensively.

For information on creating your business plan, see, How to Write a Business Plan.

12. Banking Considerations

Financial Foundations: Choosing the Right Banking Partner

Strategic Banking Choice: Empowering Small Businesses

Opt for a local bank with a strong small business focus for optimal support.

Distinct Account, Streamlined Finances

A dedicated business account segregates expenses vital for sole proprietorships: precise expense tracking, seamless bookkeeping, and audit protection result.

Building Banking Relationships: Advantages Beyond Transactions

Foster a rapport with your banker. Access advice, financial services, and simplified application procedures.

Embrace Digital Transactions: Amplify Sales

Merchant accounts and online services boost sales by facilitating credit and debit card payments—convenience and higher sales potential benefit both business and customers.

For more, see, How to Open a Business Bank Account. You may also want to look at, What Is a Merchant Account and How to Get One.

13. Getting the Funds for Your Operation

Financial Launchpad: Navigating Business Loans

Crucial Tips for Loan Seekers

Exploring Funding Avenues: Options for Import/Export Ventures

Consider diverse funding paths: traditional lenders, private loans, investors, asset sales, and collateral usage.

Meeting with a Loan Officer: Essential Points

• Preparation: Understand your business needs and loan purpose.
• Research: Know the lender’s criteria and offerings.
• Documentation: Compile necessary financial and business documents.
• Business Plan: Present a well-structured plan highlighting profitability and repayment strategies.
• Clarity: Articulate your business’s strengths, market viability, and repayment certainty.

Required Documents for New Business Loan Application

• Business Plan
• Personal and Business Credit History
• Financial Statements
• Income Tax Returns
• Legal Documents (Incorporation, Contracts, etc.)
• Collateral Details (if applicable)

Empowering Your Business’s Financial Journey

These insights facilitate informed loan pursuit.

Thorough preparation, diligent research, and organized documentation enhance your Import/Export venture’s financial foundations.

See, Getting a Small Business Loan for more.

14. Software Setup

Software Selection: Strategic Insights for Import/Export Ventures

Informed Software Choice: A Prudent Step

Thoroughly researching software options is paramount.

Opting for a robust system from the outset minimizes the need for future transitions, preserving data integrity.

Dependability Matters: A Proven Track Record

Prioritize software companies with a strong history, ensuring ongoing support and reliability.

Exploring Demos and Reviews: Insights from Users

Assess software through demos, reviews, and forums. Gaining firsthand experiences of others aids informed decision-making.

Comprehensive Software Considerations

• Import/Export Management Software
• Supply Chain Management (SCM) Software
• Customs Broker Software
• International Trade Compliance Software
• Logistics and Freight Management Software
• Inventory Management Software
• Financial Software (Accounting and Bookkeeping)
• E-commerce Platform
• Communication Tools (Email, Video Conferencing)
• Data Analytics Tools
• CRM (Customer Relationship Management) Software
• Language Translation Software

Accounting Software: Expert Counsel

For financial management, consult your bookkeeper or accountant to select suitable accounting software, ensuring compliance and streamlined tax filing.

By diligently researching software, you pave the way for efficient operations and lasting success in your import/export business.

Check out Google’s latest search results for software packages for an Import/Export business.

15. Get The Right Business Insurance

Safeguarding Your Business: Insurance Essentials

Proactive Protection: Prioritize Insurance

Secure appropriate insurance coverage before commencing any business activities to shield against unforeseen incidents.

Comprehensive Protection: Addressing Diverse Risks

Consider insurance covering customers, employees, property, and potential legal liabilities.

Professional Liability Shield: Navigating Legal Claims

Professional liability insurance guards against potential lawsuits and legal claims.

Operational Continuity: Embrace Interruption Insurance

Interruption insurance provides crucial support during involuntary shutdowns, ensuring operational continuity.

Home-Based Business Alert: Maintain Insurance Validity

If operating from home, inform your home insurance agent to prevent nullifying your existing policy.

Insurance Expertise: Navigating Coverage Adequacy

Leverage a competent insurance broker’s guidance to ensure comprehensive coverage, protecting your business interests effectively.

For more, see What to Know About Business Insurance . You can also browse the latest Google Import/Export business insurance search results.

16. Suppliers, Service Providers and Inventory

Strategic Supplier Relations: Fueling Business Success

Essential Supplier Partnerships: Items and Services

Enumerate essential items and services your Import/Export business may source from suppliers.

Supplier Bonds: Cornerstone of Operational Success

Forge strong connections with suppliers and service providers to underpin your business triumph. Trustworthiness and reliability are paramount.

Cost-Efficient Collaborations: Competitive Prices and Margins

A dependable supplier allows cost-effective pricing, facilitating customer savings and bolstering profit margins.

Seamless Operations: Ensuring Adequate Supplies

Reliable suppliers guarantee smooth business operations by providing essential supplies consistently.

Mutually Beneficial Ties: Respect and Shared Gains

Nurturing a mutually advantageous relationship with suppliers enhances cooperation and rapport.

Strategic Inventory Management: Customer-Centric Approach

Product Mix and Variety: Customer-Centric Focus

Curate your inventory based on customer preferences and include variety for broad customer appeal, augmenting value.

Inventory Control: Balance and Efficiency

Strike a balance in inventory volume to prevent tied-up funds or lost sales, optimizing resource allocation.

Expiry Date Vigilance: Mitigating Loss

Mitigate losses by managing expiration dates meticulously, ensuring inventory freshness and value.

By cultivating robust supplier relationships and strategic inventory management, your Import/Export business thrives with efficiency and customer-centricity.

For More See, How To Choose a Supplier.

17. Physical Setup

Strategic Setup: Physical Arrangement for Success

Optimized Layout: A Blueprint for Efficiency

Designing an effective physical setup for your Import/Export business is pivotal. A streamlined layout enhances operational efficiency.

Strategic Signage: Guiding the Way

Strategically placed signage is vital for customer guidance and professional presentation.

Beyond the main business sign, ensure directional and informational signs in key areas like parking lots, exits, and special zones.

Office Harmony: A Productive Workspace

Your office plays a crucial role in managing your business. A well-organized office is a hub of productivity, fostering efficient business management.

Functional Equipping: Necessities for Effectiveness

Equip your office comprehensively to facilitate smooth business operations. Essential tools, technology, and resources should be at your fingertips.

Space Optimization: Productivity and Professionalism

Effective physical setup and signage guide customers seamlessly and reflect professionalism, while an organized office empowers efficient business management.

Maximize your potential by laying a strong foundation for operational success.

See, Here are Considerations for The Setup of Your Office, for tips and ideas to make your office work for you. Also, have a look at our article About Company Signs.

18. Creating a Website

Virtual Presence: Your Digital Storefront

Essential Website: Gateway to Your Business

A website is an indispensable asset for business owners, serving as a primary interface for sharing information with existing and potential clients.

Ownership Advantage: Your Virtual Territory

Unlike social media platforms, your website offers autonomy and control.

When you host your site and secure a domain name, you dictate the rules.

Marketing Potential: Showcasing Expertise

Your website doubles as a marketing powerhouse.

By sharing industry insights and valuable tips through blogs, you position yourself as an authority, fostering customer trust and bolstering sales potential.

A website isn’t just a digital address; it’s a dynamic tool that strengthens your brand, reinforces credibility, and expands your reach in the competitive landscape.

For more, see How to Build a Website for Your Business .

19. Create an External Support Team

External Support Network: Your Advisory Allies

An external support team comprises non-payroll professionals providing advice and services.

Their expertise aids projects, contracts, or on a retainer basis.

While some members might already be collaborators, embracing them as your core team enhances their role.

Strategic Approach: Building a Resilient Network

You needn’t assemble the complete team before launch; fostering these relationships takes time.

However, nurturing this network is an ongoing endeavor for enduring success.

Team Synergy: Collaborative Powerhouse

Your team may encompass an accountant, lawyer, financial advisor, marketing specialist, technical advisor, and consultant.

Their collective prowess fortifies your business, providing insights, solutions, and guidance when needed.

This collaborative network safeguards your business journey.

For more, see, Building a Team of Professional Advisors for Your Business.

20. Hiring Employees

Growing Workforce: Hiring Right for Expansion

In the initial phases, handling tasks single-handedly can curb costs, especially considering the significant payroll expense during startup.

As the business flourishes, your ability to manage all aspects may dwindle, prompting the need for new hires.

Strategic Hiring: Building a Competent Team

When recruiting, prioritize qualified individuals with strong work ethics for each role.

Properly fitting employees enhance productivity and streamline operations, facilitating business growth.

Essential Roles: Structuring Your Team

The following are job positions or outsourced services you may want to consider as your Import/Export business grows:

• Sales and Marketing Specialist
• Logistics Coordinator
• Customs Compliance Manager
• Financial Analyst
• Customer Service Representative
• Inventory Manager
• Data Analyst
• Shipping Coordinator
• Legal Advisor
• Graphic Designer
• Content Writer

As you scale, assembling the right team becomes pivotal to sustaining success and expanding your import/export enterprise.

For more, see, How and When to Hire a New Employee.

Points To Consider

Hours of operation:.

Operating Hours for Import/Export Business

Consider these hours of operation for your Import/Export business:

• Weekdays: Standard business hours, 9 AM to 5 PM
• Saturdays: Half-day, 9 AM to 1 PM
• Sundays: Closed
• Holidays: Closed, unless essential for trade

Adapting operational hours to global time zones and clients’ needs is vital for international commerce. Flexibility can enhance customer satisfaction and streamline communication.

A List of Equipment and Supplies to Consider for an Import/Export Business:

• Computers and Laptops: For communication, research, and documentation.
• High-Speed Internet Connection: Essential for online transactions and communication.
• Smartphones: Stay connected on the go and manage business emails.
• Printer and Scanner: For printing contracts, invoices, and scanning documents.
• Office Furniture: Desks, chairs, and storage for a comfortable workspace.
• Communication Tools: Landline phones, mobiles, and headsets.
• Shipping Supplies: Packaging materials, boxes, tape, and labels.
• Inventory Management System: Software to track stock and orders.
• Security Measures: Surveillance cameras and alarm systems for asset protection.
• Transportation: Vehicles for local pickups and deliveries.
• Warehousing Equipment: Shelving, pallets, and forklifts for storage.
• Global Positioning System (GPS): For efficient navigation during shipments.
• Customs Documentation Tools: Software to manage international paperwork.
• Currency Conversion Tools: To handle multi-currency transactions.
• Backup Systems: Data backup solutions to prevent data loss.

Customize this list based on your business scale and specific needs.

Key Points To Succeeding in an Import/Export Business

Successfully operating an Import/Export business requires attention to several crucial points:

• Building Customer Base: Establishing a customer base is challenging during startup. Develop strong relationships with customers, suppliers, and employees.
• Supplying Demand: Offer products and services that customers desire, adapting to their needs and preferences.
• Customer Feedback: Use customer feedback to improve your business operations.
• Exceptional Customer Service: Prioritize exceptional customer service, as your customers are the heart of your business.
• Team Building: Assemble the right team for various positions, fostering a positive work environment.
• Cash Flow Management: Efficiently manage cash flow to sustain operations and growth.
• Cost Control: Keep costs low without compromising quality or service.
• Adaptation to Change: Stay updated and adapt to industry, process, and technological changes.
• Fluctuations and Competition: Handle revenue fluctuations and navigate competition, focusing on differentiation.
• Effective Marketing: Invest in effective advertising and marketing to boost awareness and attract customers.

Remember these factors to drive your Import/Export business towards success.

Making Your Import/Export Business stand out

Making Your Import/Export Business Stand Out

Setting your Import/Export business apart in a competitive market is crucial for success.

Here are some ideas to make your business stand out:

• Niche Specialization: Focus on a specific niche within the Import/Export industry. Specializing allows you to become an expert in a particular area, catering to a targeted customer base.
• Exceptional Customer Experience: Provide an unparalleled customer experience from start to finish. Prompt communication, transparency, and going the extra mile can leave a lasting impression.
• Unique Product Offerings: Source and offer unique, high-quality products that aren’t widely available. This exclusivity can attract customers seeking something different.
• Sustainable Practices: Embrace environmentally-friendly practices in your operations, appealing to eco-conscious customers.
• Technology Integration: Utilize cutting-edge technology to streamline processes, enhance customer service, and improve efficiency.
• Customization: Offer personalized solutions that cater to individual customer needs and preferences.
• Partnerships: Collaborate with complementary businesses to expand your reach and offer bundled services.
• Online Presence: Develop a user-friendly, informative website and leverage social media to connect with potential customers globally.
• Transparent Pricing: Provide clear and transparent pricing structures, instilling trust in customers.
• Educational Resources: Share industry insights, how-tos, and resources through blogs, videos, and webinars, positioning your business as an industry authority.

Add on Ideas for an Import/Export Business

Diversifying your offerings with add-ons can enhance your business value and attract a broader clientele. Consider these add-on ideas:

• Consulting Services: Provide expert advice to clients seeking guidance on navigating the import/export landscape.
• Customs Clearance Assistance: Help clients navigate the complexities of customs regulations and paperwork.
• Supply Chain Management: Offer end-to-end supply chain solutions, ensuring smooth operations for your clients.
• Trade Compliance Training: Provide training sessions on trade compliance and regulations, empowering businesses to handle import/export processes more effectively.
• Market Research Reports: Offer market research reports to clients looking to expand into new markets, providing valuable insights.
• Freight and Logistics Services: Partner with logistics providers to offer seamless shipping and delivery solutions.
• Trade Show Representation: Represent clients’ products at international trade shows to expand their reach.
• Packaging Solutions: Provide customized packaging solutions that protect goods during transit and enhance brand identity.
• Sourcing Tours: Offer guided sourcing tours to help clients discover suppliers and products in different regions.
• Language and Cultural Consulting: Assist clients in understanding language and cultural nuances when dealing with international partners.

By incorporating these ideas and add-ons, you can make your Import/Export business unique, appealing, and positioned for success in a competitive global market.

Marketing Considerations

Attracting Customers for Your Import/Export Business

To succeed in the Import/Export industry, customer attraction is paramount. Initially challenging due to being new, it becomes easier as your reputation grows.

Marketing remains an ongoing process, driving revenue growth through effective strategies.

While you don’t always need a professional agency, investing in marketing yields significant returns.

Simple Methods to Promote Your Import/Export Business:

• Networking: Attend industry events, trade shows, and conferences to connect with potential clients and partners.
• Social Media: Leverage platforms like LinkedIn, Instagram, and X to showcase your services, share industry insights, and engage with your audience.
• Content Marketing: Create informative blogs, videos, and guides related to the import/export field to establish yourself as an expert.
• Referral Programs: Encourage satisfied customers to refer your services to others in exchange for incentives.
• Cold Calling/Emailing: Reach out to potential clients directly with tailored messages highlighting your services’ value.
• Collaborations: Partner with related businesses for joint promotions, broadening your reach.
• Localized SEO: Optimize your online content for local search terms to attract customers in your area.
• Testimonials and Reviews: Display positive feedback from satisfied clients on your website and social media.
• Webinars and Workshops: Host online sessions to educate potential clients about import/export processes and benefits.
• Free Resources: Offer downloadable resources like e-books, checklists, or templates to entice potential clients to engage with your brand.
• Direct Mail: Send informative brochures or postcards to targeted businesses that could benefit from your services.
• Participate in Forums: Engage in online forums and discussion boards related to import/export to share insights and build credibility.
• Google My Business: Create and optimize your Google My Business listing to improve local visibility.
• Video Marketing: Create informative videos explaining import/export procedures, highlighting your expertise.
• Local Networking: Attend local business networking events to connect with potential clients in your area.
• Industry Associations: Join relevant trade associations and actively participate in expanding your network.

Remember, effective marketing is about consistency and persistence.

As you invest time and effort into these simple methods, your Import/Export business’s visibility will grow, attracting a steady stream of interested customers.

We have an article on How To Get Customers Through the Door and a marketing section that will provide ideas to help you bring awareness to your business.

Sample Ad Ideas:

Headline: Unlock Global Opportunities with Our Import/Export Expertise!

Expand your business horizons with our seamless import/export solutions.

From customs clearance to logistics, we handle it all, ensuring your goods reach destinations hassle-free.

Tap into new markets, increase profits, and establish a global presence. Let us be your gateway to international success.

Headline: Navigate International Trade Effortlessly with Us!

Ad Copy: Breaking barriers in international trade is our forte.

Seamlessly import/export your goods with our expert guidance.

Our team ensures compliance, swift deliveries, and cost-effective solutions. Don’t let logistics hold you back – let us be your trade partner.

Headline: Your Bridge to Global Markets Starts Here!

Dreaming of tapping into overseas markets? Our import/export expertise is your ticket to success.

We handle every step, from documentation to delivery. Let’s make your business go global together.

Headline: Expand Borders, Increase Profits – Start Now!

Ad Copy: Why limit your business to local shores? Our import/export services open doors to endless possibilities.

Seamlessly move goods worldwide, conquer new markets, and elevate profits. Your journey to international success begins here.

Headline: Unleash Growth Potential – Import/Export Made Easy!

Ad Copy: Want to skyrocket your business growth? Our import/export solutions simplify global trade.

Seamlessly ship your products, ensure compliance, and boost profitability. Get started today and watch your business thrive on the global stage.

Potential Businesses for Referral Partnerships:

• Logistics Companies: Collaborate with freight forwarders, shipping companies, and logistics providers. They can refer clients who need assistance with importing/exporting goods.
• Customs Brokers: Build relationships with customs brokerage firms. They can refer clients looking  to import or export products.
• International Trade Consultants: Partner with consultants who provide advice on global trade. You can complement each other’s services and refer clients back and forth.
• Trade Associations: Join industry-specific trade associations and chambers of commerce. Network with members and establish referral partnerships.
• E-commerce Platforms: If you specialize in importing/exporting goods related to e-commerce, collaborate with online marketplaces that could refer their sellers to your services.
• Business Consultants: Business consultants often work with companies looking to expand globally. They can refer clients in need of import/export expertise.
• Legal Firms: Attorneys specializing in international trade law can refer clients needing assistance with compliance, contracts, and legal aspects of import/export.
• Manufacturers: Manufacturers seeking to export their products can refer you to their network for assistance with the logistics and export processes.
• Financial Institutions: Establish partnerships with banks that offer international business services. They can refer clients who need assistance with cross-border transactions.
• Export Development Agencies: Collaborate with government agencies focused on promoting exports. They may refer companies looking to expand their overseas market presence.

Remember, building a strong relationship with your referral partners is key.

Offer them value in return through referral fees, reciprocal referrals, or other mutually beneficial arrangements.

• Assessing your skill set for running an Import/Export business is crucial. Your skills influence your business’s success.
• Evaluate your abilities in negotiation, communication, market analysis, logistics, and customer relationship management.
• If you lack a necessary skill, consider learning it through training or hiring professionals.

Essential Skills for an Import/Export Business Owner:

• Market Research: Understanding global market trends and demands is vital.
• Negotiation: Negotiating deals with suppliers, distributors, and customers.
• Logistics Management: Efficiently coordinating shipments, customs clearance, and delivery.
• Financial Acumen: Managing finances, calculating costs, and analyzing profitability.
• Networking: Building relationships with industry professionals, suppliers, and customers.
• Communication: Effective communication across cultures and languages.
• Problem-Solving: Addressing unexpected challenges in international trade.
• Risk Management: Mitigating potential risks, such as currency fluctuations and geopolitical uncertainties.
• Legal Awareness: Understanding international trade regulations and compliance.
• Adaptability: Navigating changing market dynamics and adapting strategies.
• Leadership: Managing a team if your business grows.
• Technology Proficiency: Utilizing software for inventory, logistics, and communication.

These skills can lead to informed decision-making, efficient operations, and successful business expansion.

Knowledge Is Power if You Use It!

Knowledge Empowers: Industry Insights Await

Unveil valuable industry insights online.

These sections offer vital information for your research, startup, and operational phases. Dive in and harness the power of knowledge!

Trends and Statistics

Unveiling Industry Trends: Your Business Advantage

Explore industry trends and statistics for your Import/Export venture. Unlock valuable insights to steer your business toward success.

See the latest search results for trends and statistics related to the Import/Export industry.

Import/Export Associations

Empowerment Through Trade Associations

Trade associations offer vital industry insights, networking, and events that keep you informed and connected.

Maximize your business potential with these valuable resources.

See the search results related to Import/Export associations.

The Top Import/Export Companies

Learning From Successful Models

Studying established Import/Export businesses can reveal innovative gaps in the industry or overlooked opportunities in your own venture.

See the latest search results for the top Import/Export companies.

The Future of the Import/Export Industry

Anticipating Industry Evolution

Researching the industry’s future is crucial for aspiring Import/Export business owners to prepare for upcoming trends, changes, and opportunities.

See the search results for the future of the Import/Export industry.

Import/Export Businesses for Sale

Buying vs. Starting: Weighing Your Options

When considering an existing Import/Export business for purchase, weigh the benefits:

• Immediate Revenue Generation.
• Skips Startup Phase.
• Proven Business Model.
• Known Financials & Customer Base.
• Established Reputation.

However, note the downsides:

• Higher Cost due to Goodwill.
• Potential Customer Loss with Changes.
• Inheriting Both Positive and Negative Reputation.

While an exact match might not be available, exploring the industry’s existing businesses can provide valuable insights for your decision-making process. Check out the link to learn more.

See the latest search results for a Import/Export business for sale and others closely related.

Franchise Opportunities Related to an Import/Export

Exploring Import/Export Franchises: A Balanced View

Considering an Import/Export franchise ? Understand the benefits and drawbacks before you decide:

• Proven Business Model: Follow a successful blueprint from the corporate office.
• Leverage Existing Reputation and Marketing.
• Comprehensive Pre-Knowledge of the Business.
• Corporate Support and Guidance.
• Higher Initial Investment.
• Limited Freedom for Major Changes.
• Restricted to Approved Products/Services.
• Bound by Franchise Agreement Terms.
• Ongoing Franchise Fees.

Exploring franchise opportunities could uncover aspects of your Import/Export venture that you hadn’t considered.

While an exact match may not be available, browsing franchises in the same industry can provide valuable insights. Check out the link to learn more.

See the latest search results for franchise opportunities related to this industry.

Import/Export Business Insights

Valuable Insights for Your Import/Export Business

Exploring tips and insights offers a wealth of knowledge. Discover brilliant ideas, avoid pitfalls, and enrich your understanding of the industry.

See the latest search results about insights into running an Import/Export business.

Import/Export Publications

Staying Informed: The Power of Publications

Publications serve as a dynamic resource for staying updated on the latest trends and insights within the Import/Export business landscape.

See the search results for Import/Export publications.

Import/Export Forums

Forums: Connecting and Learning in Import/Export

Participating in Import/Export forums offers a unique opportunity to engage in discussions, connect with industry peers, and gain valuable customer insights, enriching your perspective.

See the latest search results related to Import/Export forums.

Courses: Expanding Expertise for Import/Export Success

Enroll in online or local courses to enhance your skills, broaden your knowledge, and ensure ongoing professional growth within the Import/Export field.

See the latest courses on Import/Export  and our management articles to provide insights and tips on managing Your business.

Import/Export Blogs

Stay Informed: Subscribing to Import/Export Blogs

Subscribe to relevant Import/Export blogs to receive up-to-date insights and ideas.

Over time, curate your list by focusing on blogs that consistently providing valuable and current information for your business journey.

Look at the latest search results for Import/Export blogs to follow.

Import/Export News

Stay Current with Industry News

Regularly check industry news sources to stay informed about trends, developments, and updates in the Import/Export field.

See the latest results for Import/Export news.

YouTube for Insights

Explore YouTube for videos related to Import/Export business.

Many creators share valuable insights, tips, and tutorials that can enhance your knowledge and understanding of the industry.

See the links to YouTube Videos Below.

Videos related to starting an Import/Export business can be found here.

Privacy Overview

Business Plan Template for Import Export Companies

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Starting an import-export business can be an exciting venture, but it requires careful planning and strategy to succeed in the global trade industry. That's where ClickUp's Business Plan Template for Import Export Companies comes in!

With this template, you can create a comprehensive business plan that covers all aspects of your import-export operations, including:

• Outlining your strategies and goals for entering and expanding in international markets
• Identifying target markets and customers to effectively position your products or services
• Assessing financial projections and budgets to ensure profitability and sustainability
• Determining logistics and supply chain management to streamline your operations
• Analyzing risks and competition to develop strategies for market penetration and differentiation

Don't miss out on the opportunity to create a roadmap for success in the import-export industry. Get started with ClickUp's Business Plan Template today!

Business Plan Template for Import Export Companies Benefits

Import and export companies can benefit greatly from using a business plan template specifically designed for their industry. Here are some of the advantages:

• Streamlining the strategic planning process by providing a structured framework for outlining goals and objectives
• Identifying target markets and customers, allowing for targeted marketing and sales efforts
• Assessing financial projections and forecasting revenue, expenses, and profitability
• Determining logistics and supply chain management strategies to optimize operations and minimize costs
• Analyzing risks and competition to develop effective risk management and competitive advantage strategies
• Creating a roadmap for success in the global trade industry, guiding the company's growth and expansion plans.

Main Elements of Import Export Companies Business Plan Template

ClickUp's Business Plan Template for Import Export Companies is specifically designed to help import and export companies create a comprehensive roadmap for success in the global trade industry. Here are the main elements of this template:

• Custom Statuses: Use the "Complete," "In Progress," "Needs Revision," and "To Do" statuses to track the progress of each section of your business plan and ensure that all tasks are completed on time.
• Custom Fields: Utilize the "Reference," "Approved," and "Section" custom fields to add important information to your business plan, such as references, approval status, and specific sections.
• Custom Views: Access different views, including "Topics," "Status," "Timeline," "Business Plan," and "Getting Started Guide," to easily navigate through your business plan and analyze different aspects, such as goals, progress, timelines, and overall plan structure.
• Collaboration: Collaborate with your team in real-time by assigning tasks, setting due dates, leaving comments, and attaching files within each section of your business plan.
• Integration: Seamlessly integrate with other tools, such as Google Drive, to import and export relevant documents and data, ensuring all your information is centralized and easily accessible.

How To Use Business Plan Template for Import Export Companies

If you're in the import-export business, having a well-thought-out business plan is crucial for success. Here are six steps to help you effectively use the Business Plan Template for Import Export Companies in ClickUp:

1. Define your mission and vision

Start by clearly defining the mission and vision of your import-export company. What do you aim to achieve? What values do you want to uphold? This will serve as the foundation for your business plan and guide your decision-making process.

Use a Doc in ClickUp to articulate your mission and vision statement and share it with your team for feedback.

2. Conduct market research

Before diving into the import-export industry, it's essential to conduct thorough market research. Identify potential target markets, assess competition, and analyze trends and opportunities. This step will help you understand the demand for your products and identify strategies to stay ahead.

Utilize custom fields in ClickUp to track key market research data, such as market size, competitors, and consumer behavior.

3. Define your products and services

Next, outline the specific products and services your import-export company will offer. Clearly define the unique selling points and advantages of your offerings. Additionally, identify potential suppliers and partners to ensure a smooth supply chain.

Create tasks in ClickUp to categorize and track your products and services, including details like pricing, sourcing, and quality control.

4. Develop a marketing and sales strategy

To attract customers and generate revenue, you'll need a robust marketing and sales strategy. Determine the most effective channels to reach your target audience, whether it's through digital marketing, trade shows, or partnerships. Additionally, outline your pricing strategy, sales targets, and promotional activities.

Use the Gantt chart in ClickUp to create a timeline for your marketing campaigns and track their progress.

5. Create a financial plan

A comprehensive financial plan is essential for the success of any business. Estimate your startup costs, projected revenue, and expenses. Determine your pricing structure, profit margins, and cash flow projections. Additionally, consider any financing options or investment opportunities that may be available.

Utilize the Table view in ClickUp to create financial projections, track expenses, and monitor your company's financial health.

6. Monitor and adapt

Once your business plan is in place, it's important to regularly monitor your progress and adapt as needed. Keep track of key performance indicators, such as sales volume, customer satisfaction, and market share. Review your plan periodically and make adjustments based on new information or changing market conditions.

Set up recurring tasks in ClickUp to review and update your business plan regularly, ensuring that it remains relevant and aligned with your goals.

By following these six steps and utilizing the Business Plan Template for Import Export Companies in ClickUp, you'll be well-equipped to navigate the import-export industry and achieve long-term success.

Get Started with ClickUp’s Business Plan Template for Import Export Companies

Import and export companies can use this Business Plan Template for Import Export Companies to streamline their planning process and ensure a successful global trade strategy.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

• Use the Topics View to organize your business plan into different sections, such as market analysis, financial projections, and logistics
• The Status View will help you track the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do
• Utilize the Timeline View to set deadlines and milestones for each section of your business plan
• The Business Plan View provides a holistic overview of your entire plan, allowing you to easily navigate and make updates
• Use the Getting Started Guide View to access helpful resources and tips for creating a successful business plan
• Customize the template by adding custom fields like Reference, Approved, and Section to track additional information and make your plan more organized
• Monitor and analyze your business plan to ensure it aligns with your goals and objectives
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Wholesale Food Sample Business Plan

Related Topics

Catering business plan sample, bakery business plan sample, agriculture business plan sample.

Click here to view this full business plan

Wholesale Food Business Plan

Executive summary.

Justin Seafood Market has been providing customers with the finest quality seafood for five years. The business is primarily wholesale to area restaurants. We purchase seafood directly from local fishermen and contacts all along the Florida panhandle. This allows us to pick from the finest selection of seafood available anywhere. Currently, we sell to over sixty restaurants. This a 10% increase over last year and we estimate that we will have additional restaurants as customers next year.

Justin Seafood Market plans to expand our storefront and sell direct to the public. In our expanded market, we will bring our commitment of quality, freshness and great prices to the public. By purchasing in large quantities we are able to pass the savings on to our customer.

The planned renovation will cost $150,000. Additional service staff will be hired to assist customers. Bill Justin, owner of Justin Seafood Market, will invest $50,000 in the expansion and also secure a $100,000 short-term loan.

1.1 Objectives

• Establish Justin Seafood Market as the leader in selling fresh seafood to the public.
• Increase the number of customers buying from Justin Seafood Market by 10% over the next two years.
• Establish a Seafood Discount Club for customers that will build customer loyalty.

1.2 Mission

The mission of Justin Seafood Market is to offer customers the best seafood prices on the highest quality seafood.

1.3 Keys to Success

• Superior products will promote customer loyalty.
• A location that will assure walk-in traffic.
• A program that will create customer loyalty.

Company Summary

Justin Seafood Market is primarily a wholesaler to area restaurants. Bill Justin, owner of Justin Seafood Market, has utilized his wholesale background, his experience in the restaurant industry, and his contacts with the area’s fishermen to build a loyal customer base.

Bill wants to open a seafood market to the public by renovating the building’s storefront to accommodate the public.

2.1 Company Ownership

Bill Justin is the owner of Justin Seafood Market.

2.2 Company History

Bill Justin started Justin Seafood Market in response to the dramatic growth of the Florida panhandle. Over the past five years, the population has increased by 30% in communities along the panhandle. But most importantly, tourists have returned to the area. Last year tourists spent over 400 million dollars with panhandle businesses. A significant portion of those sales were with the area’s loyalty. Currently, there are over 1,350 restaurants but that number grows by 15% annually.

Against this backdrop of growth, Bill Justin launched his market. Starting with ten customers Justin Seafood Market now serves sixty restaurants.

2.3 Company Locations and Facilities

Justin Seafood Market is located at 3456 Main Street, Tallahassee, Florida. After renovation, the market will have an additional 5,000 ft. of floor space that will be used for the new retail operation.

Justin Seafood Market currently provides numerous seafood products to restaurants in the Florida panhandle. The market’s new public retail outlet will focus on popular seafood selections that will bring customers into the store.

Justin Seafood Market will have the following retail products:

• Jumbo Fresh Gulf Shrimp;
• Alaskan King Crab;
• Florida Lobster;
• Sea Scallops;
• Fresh Gulf Fish Filets;
• Yellowfin Tuna;

Market Analysis Summary

Tallahassee has a population of over 160,000 residents but the area receives thousands of day tourists each year. Justin Seafood Market is located in the busiest commercial section of Tallahassee with excellent foot traffic. Expanding the market’s storefront by 5,000 ft. will create an inviting environment for the public. The market’s interior design will focus on the motif of an open air fish market. We will advertise the market as a place where the public can get quality seafood at wholesale prices.

4.1 Market Segmentation

Justin Seafood Market is focused on two customer groups:

• Urban professional working downtown.
• Day tourists.

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Baltimore Port: What impact will bridge collapse have on shipping?

PORT FEATURES

Current status of cargo ships inside port, cruise ships, london metal exchange warehouses, bunker fuel.

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Reporting by Josephine Mason, Nick Carey, Helen Reid, Jonathan Saul, Nigel Hunt, Marwa Rashad, Scott DiSavino, Shariq Khan and Eric Onstad; Compiled by Josephine Mason and Nina Chestney; Editing by Nick Macfie and Nick Zieminski

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Niagara region declares state of emergency out of caution ahead of rare eclipse

Canada's Niagara region has proactively declared a state of emergency ahead of a rare total solar eclipse on April 8 that is expected to gather massive crowds to areas in and around the region's popular waterfalls.

See how the Key Bridge collapse will disrupt the supply of cars, coal and tofu

The port of baltimore is the top port in the nation for automobile shipments.

The collapse of the Francis Scott Key Bridge in Baltimore on Tuesday cut off access to much of the city’s port — causing a suspension of vessel traffic that will disrupt a key trade lane and threaten to further tangle already-stressed supply chains.

The Port of Baltimore was the 17th largest in the nation by total tons in 2021 and an important artery for the movement of autos, construction machinery and coal. It handled 52.3 million tons of foreign cargo worth nearly $81 billion in 2023, according to Maryland data, and creates more than 15,000 jobs.

Top 10 imports and exports to the Port

of Baltimore in 2023

2023 total: $59B

electronics

commodities

2023 total: $22B

Iron, steel

Seeds, grains,

fruits, plants

Air and space

craft, parts

Coal, oil and

natural gas

Note: not seasonally adjusted. Vehicles excluding railways

and tramways. Nickel, aluminium, paper and wood include

derivatives of those commodities.

Source: Census Bureau

Top 10 imports and exports to the Port of Baltimore in 2023

Electronic machinery

and electronics

farmwork and

construction

Iron and steel

spacecraft, parts

Note: not seasonally adjusted. Vehicles excluding railways and tramways. Nickel, aluminium,

paper and wood include derivatives of those commodities.

spacecraft,

bedding, lights

Note: not seasonally adjusted. Vehicles excluding railways and tramways. Nickel, aluminium, paper and wood include.

On Tuesday, the Port of Baltimore said that vessel traffic would be suspended in and out of the port until further notice, but trucks would still be processed in its terminals.

“Baltimore’s not one of the biggest ports in the United States, but it’s a good moderate-sized port,” said Campbell University maritime historian Sal Mercogliano. It has five public and 12 private terminals to handle port traffic.

North Locust

Point Marine

Ports and terminals

Baltimore Port

Truck Plaza

Seagirt Marine

Dundalk Marine

Shipping channels

CSX Coal Pier

Francis Scott

Hawkins Point

Marine Terminal

“It does cars, it does bulk carriers, it does containers, it does passengers,” said Mercogliano. “So this is going to be a big impact.”

Baltimore’s the top port in the nation for automobile shipments, having imported and exported more than 750,000 vehicles in 2022, according to the Alliance for Automotive Innovation, an industry group.

About three-quarters of the autos that travel through the port are imports, dominated by big-name brands, including Mazda and Mercedes-Benz. Most of the top companies have enough inventory sitting on U.S. dealer lots that any immediate impact on supply is unlikely, said Ambrose Conroy, chief executive of the consulting firm Seraph.

“It’s too early to say what impact this incident will have on the auto business, but there will certainly be a disruption,” said John Bozzella, president of the Alliance for Automotive Innovation.

The port ranked second in the country for exporting coal last year, according to the state of Maryland. But it’s not a huge global supplier of thermal coal, and the disruption can likely be made up by replacements from Australia or Indonesia if needed, said Alexis Ellender, lead analyst at global trade intelligence company Kpler.

Baltimore is also a niche port for the soybean trade, focusing mostly on high-value soy used in tofu, miso, tempeh and organic products, according to Mike Steenhoek, executive director of the Soy Transportation Coalition. Most of those exports are destined for Asia, but Steenhoek doesn’t expect a big spike in tofu prices because several other U.S. ports also ship this sort of soy, including Norfolk, Va., Savannah, Ga. and Charleston, S.C.

All East Coast ports have become more important in recent years as the United States attempts to boost its trade with friendly nations and reduce geopolitical risks related to trade with China, which generally happens via West Coast ports, said Tinglong Dai, a Johns Hopkins Carey Business School professor and expert on global supply chains.

Baltimore port’s suspension is “one more disruption in an already-stressed system” for the global supply chain, said Abe Eshkenazi, chief executive of the Association for Supply Chain Management. Cargo will now have to be rerouted to other ports, which means figuring out where there is enough capacity to move things.

East Coast ports and shipping density

Ship traffic

Philadelphia

of Baltimore

5th-largest port

on the East Coast

for foreign trade

Newport News

Morehead City

East Coast ports

and shipping density

PENNSYLVANIA

The Port of Baltimore

5th-largest port on the

East Coast for foreign trade

Coal shipments will need to be rerouted to other ports, Kpler’s Ellender said. And Ryan Petersen, chief executive of the logistics company Flexport, posted on X that the company currently has 800 containers on a slew of ships heading for the port that will need to be rerouted, likely to Philadelphia or Norfolk.

The biggest problem Steenhoek sees from Baltimore’s shuttering is the knock-on effect to other ports. Many ships stuck in the port were destined to make stops at other U.S. ports to load and unload goods before heading overseas, a complicated logistical dance now scrambled by the bridge collapse.

“It just shows how you throw a wrench in the supply chain and the impact is not just confined to that one port,” Steenhoek said.

Tim Meko, Justine McDaniel and David J. Lynch contributed to this report. Editing by Kate Rabinowitz and Karly Domb Sadof.

Baltimore bridge collapse

How it happened: Baltimore’s Francis Scott Key Bridge collapsed after being hit by a cargo ship . The container ship lost power shortly before hitting the bridge, Maryland Gov. Wes Moore (D) said. Video shows the bridge collapse in under 40 seconds.

Victims: Divers have recovered the bodies of two construction workers , officials said. They were fathers, husbands and hard workers . A mayday call from the ship prompted first responders to shut down traffic on the four-lane bridge, saving lives.

Economic impact: The collapse of the bridge severed ocean links to the Port of Baltimore, which provides about 20,000 jobs to the area . See how the collapse will disrupt the supply of cars, coal and other goods .

Rebuilding: The bridge, built in the 1970s , will probably take years and cost hundreds of millions of dollars to rebuild , experts said.

• Baltimore bridge collapse: Crane arrives at crash site to aid cleanup March 29, 2024 Baltimore bridge collapse: Crane arrives at crash site to aid cleanup March 29, 2024
• Officials studied Baltimore bridge risks but didn’t prepare for ship strike March 29, 2024 Officials studied Baltimore bridge risks but didn’t prepare for ship strike March 29, 2024
• Baltimore begins massive and dangerous cleanup after bridge collapse March 28, 2024 Baltimore begins massive and dangerous cleanup after bridge collapse March 28, 2024

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‘A Lot of Chaos’: Bridge Collapse Creates Upheaval at Largest U.S. Port for Car Trade

A bridge collapse closed Baltimore’s port, an important trade hub that ranks first in the nation by the volume of automobiles and light trucks it handles.

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Shipping in the Port of Baltimore

Monthly cargo handled by the Port of Baltimore

By Peter Eavis and Jenny Gross

• March 26, 2024

The Baltimore bridge disaster on Tuesday upended operations at one of the nation’s busiest ports, with disruptions likely to be felt for weeks by companies shipping goods in and out of the country — and possibly by consumers as well.

The upheaval will be especially notable for auto makers and coal producers for whom Baltimore has become one of the most vital shipping destinations in the United States.

As officials began to investigate why a nearly 1,000-foot cargo ship ran into the Francis Scott Key Bridge in the middle of the night, companies that transport goods to suppliers and stores scrambled to get trucks to the other East Coast ports receiving goods diverted from Baltimore. Ships sat idle elsewhere, unsure where and when to dock.

“It’s going to cause a lot of chaos,” said Paul Brashier, vice president for drayage and intermodal at ITS Logistics.

The closure of the Port of Baltimore is the latest hit to global supply chains, which have been strained by monthslong crises at the Panama Canal, which has had to slash traffic because of low water levels; and the Suez Canal, which shipping companies are avoiding because of attacks by the Houthis on vessels in the Red Sea.

The auto industry now faces new supply headaches.

Last year, 570,000 vehicles were imported through Baltimore, according to Sina Golara, an assistant professor of supply chain management at Georgia State University. “That’s a huge amount,” he said, equivalent to nearly a quarter of the current inventory of new cars in the United States.

The Baltimore port handled a record amount of foreign cargo last year, and it was the 17th biggest port in the nation overall in 2021, ranked by total tons, according to Bureau of Transportation Statistics.

Baltimore Ranks in the Top 20 U.S. Ports

Total trade in 2021 in millions of tons

Baltimore ranks first in the United States for the volume of automobiles and light trucks it handles, and for vessels that carry wheeled cargo, including farm and construction machinery, according to a statement by Gov. Wes Moore of Maryland last month.

The incident is another stark reminder of the vulnerability of the supply chains that transport consumer products and commodities around the world.

The extent of the disruption depends on how long it takes to reopen shipping channels into the port of Baltimore. Experts estimate it could take several weeks.

Baltimore is not a leading port for container ships, and other ports can likely absorb traffic that was headed to Baltimore, industry officials said.

Stephen Edwards, the chief executive of the Port of Virginia, said it was expecting a vessel on Tuesday that was previously bound for Baltimore, and that others would soon follow. “Between New York and Virginia, we have sufficient capacity to handle all this cargo,” Mr. Edwards said, referring to container ships.

“Shipping companies are very agile,” said Jean-Paul Rodrigue, a professor in the department of maritime business administration at Texas A&M University-Galveston. “In two to three days, it will be rerouted.”

But other types of cargo could remain snarled.

Alexis Ellender, a global analyst at Kpler, a commodities analytics firm, said he expected the port closure to cause significant disruption of U.S. exports of coal. Last year, about 23 million metric tons of coal exports were shipped from the port of Baltimore, about a quarter of all seaborne U.S. coal shipments. About 12 vessel had been expected to leave the port of Baltimore in the next week or so carrying coal, according to Kpler.

He noted that it would not make a huge dent on the global market, but he added that “the impact is significant for the U.S. in terms of loss of export capacity.”

“You may see coal cargoes coming from the mines being rerouted to other ports instead,” he said, with a port in Norfolk, Va., the most likely.

If auto imports are reduced by Baltimore’s closure, inventories could run low, particularly for models that are in high demand.

“We are initiating discussions with our various transportation providers on contingency plans to ensure an uninterrupted flow of vehicles to our customers and will continue to carefully monitor this situation,” Stellantis, which owns Chrysler, Dodge, Jeep and Ram, said in a statement.

Other ports have the capacity to import cars, but there may not be enough car transporters at those ports to handle the new traffic.

“You have to make sure the capacity exists all the way in the supply chain — all the way to the dealership,” said Mr. Golara, the Georgia State professor.

A looming battle is insurance payouts, once legal liability is determined. The size of the payout from the insurer is likely to be significant and will depend on factors including the value of the bridge, the scale of loss of life compensation owed to families of people who died, the damage to the vessel and disruption to the port.

The ship’s insurer, Britannia P&I Club, part of a global group of insurers, said in a statement that it was “working closely with the ship manager and relevant authorities to establish the facts and to help ensure that this situation is dealt with quickly and professionally.”

The port has also increasingly catered to large container ships like the Dali, the 948-foot-long cargo vessel carrying goods for the shipping giant Maersk that hit a pillar of the bridge around 1:30 a.m. on Tuesday. The Dali had spent two days in Baltimore’s port before setting off toward the 1.6-mile Francis Scott Key Bridge.

State-owned terminals, managed by the Maryland Port Administration, and privately owned terminals in Baltimore transported a record 52.3 million tons of foreign cargo in 2023, worth $80 billion.

Materials transported in large volumes through the city’s port include coal, coffee and sugar. It was the ninth-busiest port in the nation last year for receiving foreign cargo, in terms of volume and value.

The bridge’s collapse will also disrupt cruises traveling in and out of Baltimore. Norwegian Cruise Line last year began a new fall and winter schedule calling at the Port of Baltimore.

An earlier version of this article misstated the Port of Baltimore’s rank among U.S. ports. It was the nation’s 17th biggest port by total tons in 2021, not the 20th largest.

How we handle corrections

Peter Eavis reports on business, financial markets, the economy and companies across different sectors. More about Peter Eavis

Jenny Gross is a reporter for The Times in London covering breaking news and other topics. More about Jenny Gross

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California fast-food workers will get $20 minimum wage, starting Monday

Vanessa Romo

Alina Selyukh

A McDonald's worker hands food to a customer at a drive-thru window in Los Angeles, on Sept. 28. Damian Dovarganes/AP hide caption

A McDonald's worker hands food to a customer at a drive-thru window in Los Angeles, on Sept. 28.

California fast-food workers cooking Big Macs or whipping Frappuccinos will start making a minimum wage of $20 an hour on Monday. For many, this means a 25% raise.

The new state minimum uniquely focuses on a particular segment, fast food, affecting some of the country's biggest chains, including McDonald's, Starbucks, Subway and Pizza Hut.

It's a big win for cooks, cashiers and other fast-food workers – some of the lowest-paid jobs in the U.S. – whose wages have been growing at a faster clip since the pandemic, after decades of stagnation.

California is one of the country's most expensive states; about half a million people are estimated to work in fast food here, mostly women, immigrants and people of color. Many live below the poverty line.

Uber and Lyft threaten to halt operations in Minneapolis over minimum wage law

Sandra Jauregui from Sacramento is counting down the days to her first bigger paycheck in two weeks. After 18 years working at several Jack in the Box franchises, her pay will jump from $17.50 to $20. That means she could be bringing home another $120 each paycheck.

"It's super great," says Jauregui, 52, speaking in Spanish. "At the very least it'll give me some breathing room ... and make it easier to pay the rent and other bills."

Chipotle, McDonald's warn of price hikes, less work

But the dramatic pay raise has also touched off a heated debate about the impact on local businesses. Smaller franchise restaurant owners warn they'll have to raise prices, reduce worker's hours, cut jobs or even close shop.

California's pay hike is a result of a contentious deal struck by labor leaders, including the large Service Employees International Union, and fast-food companies last year. The new wage law applies to fast-food chains with at least 60 locations nationwide, with exemptions for some bakeries and smaller fast-food outposts inside grocery stores, airports and other venues.

Several fast-food executives have suggested prices would go up 2.5% to 3.5% to offset higher wages; Jack in the Box, Starbucks, McDonald's and Chipotle have all warned of upcoming price hikes. That's on top of price increases many restaurants have been rolling out for months. The cost of eating out has stubbornly inched higher even as inflation has cooled elsewhere .

Other chains plan to speed up their use of automation, including kiosks and robots. A major Pizza Hut franchisee cited the wage hike as the reason for layoffs of more than 1,000 delivery drivers this year, in a switch to apps like Uber Eats and DoorDash that pushes more delivery fees onto shoppers.

One big Pizza Hut franchisee in California cited the upcoming wage hike as a reason for laying off more than 1,000 delivery drivers in a shift to delivery apps like Uber Eats and DoorDash. Justin Sullivan/Getty Images hide caption

One big Pizza Hut franchisee in California cited the upcoming wage hike as a reason for laying off more than 1,000 delivery drivers in a shift to delivery apps like Uber Eats and DoorDash.

Franchisees weigh cuts to workers' hours

Many restaurant owners expect workers to be working fewer hours. That was the main side-effect a decade ago, when Seattle hiked its minimum wage to $15, research suggests .

"I am used to being a champion of labor and I'm in this odd position," says Michaela Mendelsohn, a longtime advocate for LGBT workers and also owner of six El Pollo Loco restaurants with about 170 employees.

Her restaurants lost shoppers after a pre-emptive price increase in February, she says. Now, the focus is on cutting costs by simplifying operations, changing how long it takes workers to make sauces, for example, or to close up for the night.

Minimum-wage workers in 22 states will be getting raises on Jan. 1

"We're having to get more efficient," Mendelsohn says. "So really what's left is ... to reduce labor hours. And I hate saying that."

In recent years, the battle for higher minimum wages has increasingly played out at the city, county and state levels as the federal minimum wallows at $7.25 an hour .

Broadly, California often sets the bar for many business decisions that other states later follow. Advocates hope something similar will happen with fast-food pay – spreading to other industries in the state and across the country.

California's minimum previously rose to $16 an hour on Jan. 1.

Workers are thrilled, but also anxious

Employers' warnings have left many workers with mixed feelings about the raise, despite the potential for extra spending power.

The Jack in the Box worker Jauregui, 52, has been cobbling together two salaries, working about 54 hours a week between the restaurant and a laundromat.

She says she's always trying to save a bit to treat her grandchildren – she has custody of three of them – who are constantly growing out of clothes and shoes. And although she marched alongside fellow SEIU members to win the wage increase, she is fearful of the downside.

These millionaires want to tax the rich, and they're lobbying working-class voters

"My boss told me that he won't reduce my hours but that he will cut others' hours," Jauregui said.

All this makes California's wage hike a high-profile case study for how exactly a higher minimum wage reverberates through the local economy.

"This policy is going to be really different in different parts of California," says Jacob Vigdor, professor of public policy and governance at the University of Washington, who has studied the effects of Seattle's 2014 minimum wage hike.

The research found that after the minimum wage rose from $9.47 to $13 – in the early years of the Fight For $15 labor campaign – workers generally didn't lose jobs even though they did lose hours. And they ended up with higher pay.

"The restaurant business is a really tough business," Vigdor says. "Restaurants open and close all the time, even in places where the minimum wage hasn't changed for more than a decade. ... Generally speaking, we found that in the restaurant industry, businesses were able to find ways to adapt to higher wage costs."

KQED's Farida Jhabvala Romero contributed to this report.

• fast food workers
• minimum wage

Fast-food restaurants in California are laying off workers to prepare for the $20 minimum wage hike

• Californian fast-food restaurants are cutting workers to prepare for the $20 minimum wage.
• Pizza Hut franchisees plan to lay off around 1,200 workers, for example.
• Restaurants are also raising prices to offset wages; some are worried about spooking diners.

Fast-food restaurants in California are laying off hundreds of workers to cut back on costs as they prepare for the state's $20 minimum wage for fast-food workers that comes into force in April, a new report by The Wall Street Journal details.

Two franchisees for Pizza Hut , with restaurants across various counties in California, have said they'd lay off around 1,200 workers as they scrap delivery-driver roles to rely on third-party delivery instead.

Southern California Pizza Company, a Pizza Hut franchisee, said it planned to lay off nearly 850 workers in February, according to filings made under California's Worker Adjustment and Retraining Notification Act in December and viewed by Business Insider.

In December, another Pizza Hut franchisee, PacPizza, and its affiliates filed plans to lay off more than 350 workers in February.

And in February, Excalibur Pizza LLC, a Round Table Pizza franchisee, said it planned to lay off 70 workers in April, WARN Act filings show.

Round Table Pizza, which has more than 400 locations in the US, mainly along the West Coast, told BI that the employees being laid off were delivery drivers and that Excalibur was moving to third-party delivery services. The company said it saw the layoffs as a "transfer of jobs," with more workers required at third-party delivery services instead.

"That said, delivery service fees may increase, and the customer will most likely see even higher prices as a result of this ongoing shift," Round Table Pizza's statement continued. "This is the reality of today's restaurants."

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One fast-food franchisee has even roped in his 73-year-old parents to help out after cutting staff.

Alexander Johnson, who owns 10 Auntie Anne's and Cinnabon locations in California, told the Journal that the new law would have otherwise cost him an extra $470,000 in labor a year.

Franchisees are worried about higher prices spooking diners

California is raising the state's minimum wage for workers at limited-service restaurants to $20 an hour from April 1 — 25% higher than its general minimum wage.

The law only applies to chains with at least 60 locations nationwide, though analysts note that it could lead to wage hikes at other restaurants and workplaces in the state as they try to compete for talent.

The legislation — especially in its original form as the FAST Recovery Act — faced fierce opposition from the restaurant industry, with some chains saying it would drive up operating costs so high that they'd have to lay off workers and charge customers more.

The franchisees generally set prices, and some are concerned that higher prices could scare off diners .

"I can't charge $20 for Happy Meals," Scott Rodrick, owner of 18 McDonald's restaurants in Northern California, told the Journal. He said that in the hunt to save money amid the wage increase, he was "leaving no stones unturned."

Another McDonald's franchisee who owns restaurants in Los Angeles County previously told KTLA 5 News that her food would become "unaffordable" if she raised prices enough to cover the wage increase.

Brian Hom, the owner of two Vitality Bowl açaí bowl restaurants in San Jose, told the Journal he's raising menu prices by about 10% to cover the higher wages. He's also running his stores with two employees, down from four, which he said is slowing down order times.

"I'm definitely not going to hire anymore," Hom told the Journal.

Vitality Bowls has taken "significant measures to optimize profitability," like changing its menu and improving its tech, CEO Roy Gilad told BI in a statement. The company is "well prepared" to offset higher costs, he said.

Are you a fast-food worker who'll soon be getting the new minimum wage? Or a franchisee worried about how it will affect your business? Email this reporter at [email protected] .

Watch: How Domino's makes 1 billion pizzas a year amid labor shortages

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