How to start a home export business
One of the most lucrative things you can do is to start an export business. The main reason for exporting is that most export products are worth much more on the international market than on the local market. The activity thus offers unlimited possibilities and ultimately considerable gains.
While you can make money by selling these resources and products in the local market, you can do a lot more by selling to foreign countries where the products are more valuable. This explains why the export sector is one of the most lucrative business sectors in the country.
There is no doubt about the enormous profitability of export activities. But then entering the business for the sole purpose of making quick profits is the recipe for failure. When you are starting out, there are many aspects you need to focus on to make your business successful.
These include forging links with foreign partners, finding profitable products to export, seeking lucrative foreign markets, etc. So you have to focus on growing your business. This should be your main goal. The more focused and determined you are, the more successful you will be and the more money you will make.
It is impossible to cover everything about exporting to Cameroon in one item. However, I will describe here the steps necessary to start the business.
There are many products in Cameroon whose demand on the world market is enormous. I have compiled a complete list of the 25 most requested products that you can export from Cameroon and other African countries. Some of them are:
etc, you will find a much more detailed list here.
Starting an export business from your home
1. Learn about the market
The export market in Cameroon is so complex that you will fail if you dive without having acquired enough knowledge and experience. Before you start, you should therefore take the time to learn about this activity, especially about licensing requirements, port procedures, product sourcing, working with foreign agents and distributors, locating foreign markets. profitable, etc.
In Cameroon, unfortunately, there is little information on this sector of activity, which remains quite opaque and which is the prerogative of certain privileged people. Most of the resources available on the Internet are not adapted to local realities.
The best way to find out about export activities, in my opinion, is to contact an experienced exporter with years of experience in the industry and ask him to teach you everything you need to know before starting your own business. Practical field instruction is better than anything you can read.
However, most of the experienced and successful Cameroonian exporters who can teach you everything you need to succeed in the Cameroonian export market will have little time to do so. So you will probably start with an empirical approach.
2. Determine which products you will sell
In Cameroon, there are many products and resources that can bring you huge profits in the international market. But you will fail miserably if you try to sell too many products at once. So you should focus on just one product from the start. As you gain experience, you will be able to broaden your scope to include other products.
As a recommendation, start with products that you can easily make available in the required quantity whenever there is a demand. Cassava, cashews, pistachio, mango, Bita Cola, cocoa, and cola nuts are very good examples of products.
In many countries, specific safety and health standards must be met for imported products. This means that you have to adapt your products to meet the standards of your target foreign market. Otherwise your products could be refused for obvious reasons. This can lead to huge losses.
3. Decide how you will get the products
After deciding which product you want to export, you need to choose how to supply the product. Basically, you have two options:
you can make the product yourself
or buy from manufacturers or wholesale producers.
To start, buying from someone else is the simplest and cheapest option, as you may not be able to pay the cost of setting up and maintaining a point of sale. production. If you choose this option, you need to find suppliers or producers of the product.
I recommend that you have one or two backup providers outside of your primary provider. This will save you from unpleasant surprises if your primary supplier is suddenly out of stock.
4. Create your business
One of the most important steps is to legalize your business. You must register your export company on the Cameroon exporters file. In addition to giving you legal permission to operate your export business, including your business on this file will enhance your credibility. Before doing business with you, most foreign distributors will try to establish your credibility by asking for documents attesting that your company is legally registered in Cameroon.
5. Find your buyers on the Internet
It goes without saying that you will need to sell your products in another country with the help of a distributor or agent from that country. In other words, the distributor or agent will be the link between you and the consumers of your products in that country.
Finding credible and reliable agents or distributors could be a daunting task. But thanks to the internet, you can find buyers for your products and sign trade agreements in the comfort of your living room without necessarily having to travel to meet them. All you have to do is subscribe to trading websites, become an active member, and seal trade deals with interested buyers.
Be careful though, many new exporters have fallen victim to fraudsters posing as agents and distributors. So you really need to take your time to find out about all the agents before working with them.
6. Display your products
Trade fairs offer exporters great opportunities to showcase their products. As your export business grows, you will need to participate in more of these events to promote your export products. You are likely to meet potential buyers and make other lucrative business deals.
7. The cost for your export activities
In Cameroon like everywhere else, starting and operating an export business requires a certain cost – although this varies depending on the products to be sold and the target foreign markets.
However, even if you export cheap products to inexpensive countries, you will still need a decent amount as seed capital. Keep in mind that you will need funds for registering a business, obtaining licenses and permits, purchasing export products, visiting target markets (if necessary), etc.
Make sure you have the capital you need to get started and get your business off the ground.
8. Decide on a payment method for your buyers.
When dealing with a foreign market, you need to choose a payment method by which your buyers will pay for your products. You will likely use wire payment methods that are longer and more complicated than those you use in the local market.
Make sure you only use secure payment methods to avoid fraud.
9. Means of transport
For each type of product you export, you must choose the appropriate means of transport between air and sea transport.
Prefer air transport for quickly perishable products or products with reduced density, because faster even if this mode of transport is very expensive.
For any other you can use sea transport, certainly less expensive but very slow. It will take weeks for your products to reach their destination.
In any case, make sure to pack your products correctly for the chosen means of transport to prevent your products from being deteriorated or damaged during delivery to the buyer.
10. Insurance for your business
Exporters sometimes lose their goods in transit. Although this rarely happens, it usually results in losses