mikey1 started this topic @ 08:12 on 09/06/2006
Hiya,
I am looking for a business opportunity and have come across the idea of being an import-export agent. A number of firms offer courses or materials that promise to show people how to make money from this.
The essence of the business is that the agent acts as a matchmaker, bringing together buyers and sellers in different countries in exchange for a commission. In theory this sounds a rosy prospect. However, a nagging question is why would a buyer or seller need such a person given that they can probably find one another via the internet, trade mags or just from contacts in the industry?
Do such agents really exist and make money in the "real" world, or are these promoters simply selling a nice idea which is ultimately fanciful and notnecessary?
A second question, if I may. Wade World Trade are one of the companies that offer such a programme. They have a nice website and seem plausible. Before I think of giving them any money, does anyone have any experience of knowledge of them?
Any advice you can offer will be much appreciated!
Cheers
RE: Import/Export Query - advice please
James Smith | 09/06/2006 09:15 AM
As a rule of thumb I would say you should start your first business in something you know about already – its normally enough work to deal with it being your own business rather than someone else’s, let alone learning a whole new industry. I would be very wary about anyone offering you a course in something like this. Although a different industry, the property business is a classic case where there are 101 dodgy courses purporting to show you how to make a million in 5 years etc and charging many thousands of pounds for the privilege. In fact the only people making much money appear to be the people running the courses.
You can make money being a import/export agent, and there certainly are people who do offer such a matchmaking service, however something like that is to my mind really down to your contacts and your personality. No course is going to provide those two vital elements. My understanding of this industry is that most shipping agents just deal with the paperwork on behalf of companies in order to get good out of customs and onto the lorry. It’s a hard grind in a competitive field.
PS just looked up the site and it looks fairly scammy to me (just missing the picture of the sports car and large house), one point of note they claim to be running since 1946 – and yet their limited company was formed in 1991 under a different name. They also claim to have trained 10,000 people, which would make this a rather over crowded market if all these people where still working in this ‘easy’ money field. Rather odd, although at least the company wasn’t formed in the last week which is encouraging, and they are only after £300 and not £3,000.
Hope that helps
Regards,
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James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773
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Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT
RE: RE: Import/Export Query - advice please
Anglo-Sino | 09/06/2006 10:28 AM
I personally would not waste money going on a course like that. Yes there is money to be made....we make a little! Amongst other services we act as "agents" sourcing and supplying products predominately from Asia. On the back of this we carry out factory visits, handle shipping and make sure everything runs smoothly from end to end. Having an office in China makes this possible although it is certainly not impossible to do wherever you are based...just means clocking up air miles! These companies can give you as much theory as you like but doing it is where you will learn. Valuable information can often be found on http://www.thewholesaleforums.co.uk/forum/
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Your Gateway to Asia - Global procurement services.
www.anglosino.co.uk
RE: Import/Export Query - advice please
thorpelad | 09/06/2006 02:42 PM
Hi,
I purchased the Wade World Trade course about 3 years ago. Unfortunately, I have thrown it out otherwise you could have had it for free.
It is a really good course and does go in to depth on everything you need to know. Things like the different types of payment, such as letters of credit, and the different shipping types such as FOB(Free on Board) etc.
There website is really good as well and I actually made contact with a vineyard in Australia, and they provided me with tickets to go the Wine Fair at Olympia in London to meet them. I did meet up with them but unfortunately the deal wasn't for me and other things in my life developed(wife etc) and I couldn't commit to the time to this as I was still working full time.
All I would say is that if you do go for this, you have to be patient, work hard at making contact with the sellers and buyers and above all learn the rules and regulations etc. inside out. I don't have any contact with Wade anymore and I'm not on commission or anything, but there course is good and you can phone them or email them anytime for free advice anytime once you have purchased the course.
Let us know how it goes.
Cheers
