Are you ready to expand your business to include international customers? There are a lot of differences between doing business in your home country and doing business with international customers. There are many aspects of the business that need to be evaluated and many decisions that need to be made. You will also have to customize different areas of your business and account domestically for the changes. If you have reached the point of international expansion within your business, the following expansion efforts should be considered in order to minimize costs and optimize profits.
Regardless of the type of shipping you choose and the specific countries you offer shipping services to, your shipping prices are going to increase. In order to continue making profits on your items, you may need to adjust your prices accordingly based on purchaser?s country. While having different prices for different countries? residents may not look ideal, it may be necessary to adjust all of the prices to account for all types of shipping. Spread the costs of shipping out across all platforms to notice the least amount of price increases.
Hire a purchasing agent
Before you offered international shipping availability, you may have had little need for a purchasing agent. However, purchasing agent job description duties can become very beneficial for cutting shipping costs. Purchasing agents can also negotiate for lower prices of manufacturing and supplier costs, allowing you to profit more, and making up for the increase in American air cargo prices. Ensure that the purchasing agent you bring on staff has a clear purchasing agent job description and experience and knowledge of door to door selling, as well as air and ocean cargo shipping practices. A clear purchasing agent job description is necessary to obtain higher profit goals.
Try out different shipping services
Finding the best international shipping method is more difficult than trying out different forms of domestic shipping. While you may be able to obtain international shipping prices across all platforms, other areas will need to be tested such as shipping speed, shipping quality, and individual processes. You will also want to play around with speeds of shipping, including point to point shipping versus multiple stop point shipping. Many cargo companies will transport items along a specified route, saving you shipping costs, but taking much longer to ship your items.
Point to point shipping tends to be the most preferred type of international shipping. Point to point transportation reduces the need for connection time, and also reduces the instance of damaged goods. Also, using direct cargo services, such as Dominica shipping services, will allow your cargo to be transferred in a more environmentally friendly fashion due to the decrease in time and stops.
Consider eco friendly shipping options
Studies show that buyers today care more about the health of the environment than shipping costs. A business that provides eco friendly shipping options is likely to gain the loyalty of more customers. If eco friendly shipping is important to the value of your business, consider including these tasks in the purchasing agent job description. For even more benefit to the environment and more eco friendly transportation, use recycled boxes and bags to ship your goods. Customers will appreciate the environmental efforts and are more likely to purchase again.
Adjust tax liabilities
Selling to customers across country lines changes your tax filings. It is also likely that you will require a specialized tax accountant to account for the international profits. However, you also open your business up for additional tax benefits. In many cases, you can deduct the increased cost of shipping. You can also account for the increase in jobs you have created by offering international shipping availability.
Expanding your business to include international customers is a huge step. It requires a lot of planning and evaluation. You will need to find new ways to cut costs to make up for the increase in international shipping rates. You will have to find the best international shipping method that works for your products and your business. You may also want to add specific staff that are aware of international shipping laws and practices.