According to research, import business is one of the most profitable businesses across the world. An importer can become rich in a short period of one to three years according to the products they're selling.
Here are the most noticeable advantages that existed in importing business:
1) Import businesses have a lower risk than you purchasing the products from your locally. Why? Because import business is bringing you the best manufacturers, suppliers in the world. Not all companies are exporting, only those that have very good products and have good company sizes are doing exporting. If you sell products locally, the sales cost may be 1, if you export the products, the sales cost would be 6 or 10. That's why not all companies can do exporting because it's the higher cost of sales.
2) Import businesses bring you more competitive products for you to compete with the products manufactured locally which can allow you to compete with your local factories. This is a good thing, if without competitive products, your local factories could take over all the markets, how could your business make a living? Also, imported products can arise the competition awareness of your local factories to help them improve the products. This is also a good thing, if without imports, your country maybe not developing.
3) Import business can make you earn a lot of money by reselling. As imported products have more advantage than produced locally, more people will buy it. Thus you could sell huge and earn a price difference, which is also called profit. For example, for one solar panel you earn 1 dollar, if you sell thousands of them and repeat the sales, it will be a lot of money.
4)Import business can help people in your country get the products they couldn’t get locally. For example, led lamps, if there is no technology and factories existed in your country. The only way is to import them. Products like lighting are a crucial need of people’s life same as food and water.
5)Import business can help you make a lot of foreign friends to help you learn a different culture. It’s also a miniature of diplomacy, what you do is the face of your country. So always act like a gentleman, don't be greedy, don’t make your country losing face.
6)Import business is a pleasant experience both psychologically and practically. You’re dealing with many great people, they respect you and providing wonderful service even you buy a small amount which was always disdained by local sellers.