Newbie Question About International Products

Discussion in 'Growing and Managing a Business' started by BlairKennedy, Jan 10, 2014.

  1. BlairKennedy

    BlairKennedy
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    Hi,

    I am brand new to this forum and hoping to gain some insight.

    I purchased a product in another country that is sold by a very small on-line retailer. I have never seen this product anywhere else in either that country on in the US. I believe the product is a great idea and I'd love to a.) make some improvements to the current product and b.) sell the improved product in the US.

    Is this even something I can do? I am not a business person, I have no financial backing and I worry if this would be stealing an idea which I have no desire to do. But, I really believe this product would sell in the US into a certain market and I'd love to see what I can do. Does anyone have any advice on where to start?

    I'm sure I've not offered enough information so please, by all means, ask any questions that might help to advise.

    Thank you so much and apologies for my clear lack of business knowledge!
     
  2. smithpaula92

    smithpaula92
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    Hi BlairKennedy , Welcome to BAF I'm a newbie also, about to your purchased product if you wouldn't desire to do it, I think your business will not bloom. I suggest that whether its small or big business, you should love it and try to give extra efforts. Study to love your business :) it will benefit you a lot.
     
  3. RoseAb

    RoseAb
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    I think you misunderstand what he/she said.

    BlairKennedy, You really need to get advice about International trade. I have no knowledge about this at all.

    You might consider contacting the company that makes, telling them your idea (not the details of how to alter the product), and maybe you can join with them and buy at discount and resell.

    When you add value to a product and resell it, it is called Value Added, I think Remarketing (VAR). You might try researching that. But Importing will make all the legalities different.
     
  4. bizwizgenie12

    bizwizgenie12
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    Hi,

    My first suggestion is to discard the idea that one needs a business qualification or money in pocket to go into business. Were that so, there would have been more business persons in the world than there would be salaried personnel!

    That said, from your post it appears that you are based in the US, and you want to explore the possibility of importing into US and selling a product idea that you feel is under-exploited, at least in the US. One systematic way forward may be to conduct an online search for products in the domain with identical/verisimilar functionality. Then, in the offline mode you may browse through product catalogs and / or conduct discreet inquiries from traders/businesses that deal with your domain of interest. Gradually, you will form an idea about the existence or otherwise of the market, and formulate an appropriate strategy to make money. Continue exploring; and feel free to post on this forum as you progress. All the best! :)
     

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