In the import-export business, it is essential to have product knowledge to become a successful trading agent. Besides product knowledge, you should also have better negotiation and presentation skills, an understanding of international payment methods, international contract laws, and much more. If you think you really want to make your career as an import-export-trading agent, you must have all the skills and knowledge about this profession.
Wondering what kind of skills and knowledge? No worries, we have got you covered with the most essential points you need to keep in mind if you want to become a successful import-export-trading agent.
Find a product you want to represent
To become a trading agent, the first step you need to take is to decide what you want to sell, find a supplier/manufacturer overseas, or a source of products. Generally, there are two sourcing methods you can try.
One is to contact the commercial section of a country’s embassy in your country (For ex: the United States embassy in your country) and ask for the list of manufacturers and suppliers of the product you want to source from.
The second is to contact overseas trade fairs and ask for the list of companies participating in a trade fair. You can contact the manufacturers mentioned in the list and add them to your network.
100% product knowledge
Having 100% of product knowledge is a must. Product knowledge like how it is manufactured, the cost of production, wholesale and retail price, profit margins, etc. Many a time, it will happen that you may not know the answer.
Well, it’s okay to say “NO” if you aren’t sure about the answer to the question asked for a product you pitched on behalf of your client. At that time, saying this, “I am not sure about this, but let me get back to you on this ASAP,” won’t hurt at all. But yes, make sure that you get back to the client with a proper answer ASAP.
To increase product knowledge, watch training videos, attend webinars, and do video calls! It will help you a lot!
It is very important to know about the market. Having proper knowledge will help you make the expert, leader and you can specialize in that specific niche. Apart from that, as a trading agent, you get to know whether you have a profit margin for getting into the niche by running numbers or doing math. And that can be achieved if you are well aware of the market and the research you have done on these crucial points.
- Who are the competitors of your service?
- Who is importing and wholesaling the product?
- What’s the price of the wholesale and retail product?
- How much better are you in pitching compared to your competitors?
- What is your USP compared to your competitors?
One of the most important steps you need to take care of as a trading agent is that you should be aware of all safety regulations. If it is not taken seriously, it becomes costly for you or your client. The product must be compatible with all the health and safety regulations in the country you are selling. If it does not comply with all the safety regulations, it will add cost and create a hassle for you or the client. So, it’s better to take care of it without fail.
Of course, it is necessary to decide what your territory is and what territory you want to represent. It totally depends upon you and your goals if you wish to become an international import-export agent or you just want to work within your region.
As a legal trading agent, you need to make sure that you make a circumvention clause in the contract so that no one from the buyer or seller side can remove or exclude you from future sales as the commission agent.
Asking for samples
Ensure that the supplier you work with provides samples so that you can promote or give the demo of the product while pitching or doing the meetings. It becomes easy for you to sell if you have a product that can be shown with a demo.
Again, having promotion material like images or videos of the product can make a professional impact on a supplier in the meetings. But make sure that the images or videos which are emailed to you are clear, professional, and represent the brand you are working with.
If you think your client has sent you the product brochures, not an issue! Those brochures can be shown to the potential clients after or in a meeting with all the classification of cost, margin, and prices.
Last but not least, what would be your commission rate? Because, all the costs, procedures you do, and the information you provide must be covered in your commission. After all, it is what you want, right? So, it is essential to know how to import and export and what profit margin you can get out of this trading agent profession.
Above all the mentioned topics, there are so many things you need to make sure that you know all of them as it is required and useful when you work as a trading agent for your client. So, if you think you need a helping hand that can make you a certified and successful trading agent, join the best-in-class import export training course! And for that, you do not have to go anywhere else! We are going to help you with that too. Speaking of which, let us introduce. We are a top-notch Import export training institute, having experienced faculty with in-depth knowledge of import export businesses.
Our training course will definitely help you and push you up to the edge to shape your career as a successful trading agent.
After completing the course, you will be getting a respected certificate for sure.
What is import export training focuses on:
- We focus on the candidate’s profile and provide them customized & practical knowledge with clarity
- Along with import export training, live group trade is also given to the candidate
- And, of course, first FREE trade services with CHA(Custom housing agent)
So, what are you waiting for?
Get in touch with the experts at Imperxperts, the best import export training provider who can help you become a successful trading agent!