Here are seven excellent ways to earn income from international trade.
1. Importing: Retail store owners can find additional products to sell from foreign manufacturers, distributors, and other suppliers. You may even decide to go exclusively into the import business and become a wholesale distributor.
2. Exporting: Manufacturers can find new customers for their products in foreign countries. You could also become an Export Management Agent. Arrange for other domestic companies to sell their products to foreign corporations and earn a commission.
3. Licensing: Consider becoming a licensing agent. Earn royalties by arranging for foreign corporations to manufacture and sell the products of domestic companies.
4. Finder`s Fees: You can earn fees from domestic companies for finding foreign buyers (or for finding suitable imports from foreign suppliers). You can also earn fees from foreign companies for finding domestic corporations that will buy their products (or for finding suitable suppliers and products from domestic corporations).
5. Drop Shipping: Visualize receiving an order from a customer based in a foreign country and not having to be bothered with shipping and handling the product. No customs declarations or brokers are required by you. This is because your drop ship supplier is handling those details.
6. Mail Order: Add a mail order service to your existing business operation. Manufacturers, retail stores, and other businesses can increase their sales by using this additional method of selling that is very conducive to international trade.
7. Internet Marketing: You can also extend your reach to worldwide customers by means of the Internet. Methods of obtaining foreign business include affiliate marketing, online auctions, online stores, and websites.