How to Start an Asian Food Import Business
Starting an Asian food importing business can be fun and lucrative. As an importer your job will be to connect the dots between food manufacturers in Asia to buyers and distributors in the United States. It is important that you be organized, detail-oriented and reliable. Networking and sales skill are essential to an importing business. The more research and relationship building you do, the more successful you will become.
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Instructions
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Starting an Asian Food Importing Business
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1
Identify and research the market. Who is your target market? Is it the Asian community or specialty grocery stores? Create a focus group of your target audience and ask questions regarding specific food items. Find out what Asian foods the market is looking for. What may sound like a sure thing to you could end up collecting dust.
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2
Calculate start-up costs. Consider storage facilities, marketing, licenses and permits. Obtain an import license from the federal government and a business tax identification number from the Internal Revenue Service (IRS). Since you are essentially a middleman, start-up costs can be kept low by staying extremely organized and efficiently arranging deals and delivering products.
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3
Establish relationships. One of the most important factors when importing is engaging and maintaining contacts with foreign manufacturers and with distributors here in the U.S. Foreign exporters want to be sure you can sell their products and domestic buyers need to know you are reliable. As an importer, you are a commissioned salesperson. Connect with manufacturers of Asian foods you would like to import for availability.
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Obtain accurate price quotes from the manufacturer. Details are extremely important when importing goods. Confirm all shipping costs, dock fees and storage costs. Factor in costs for transport to and from the port of entry. Incorporate the numbers when preparing a quote for the domestic buyer.
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5
Enlist the service of a customs broker. According to the Food and Drug Administration (FDA), all imported food products must be sanitary, safe and labeled according to federal guidelines (Reference 1). All foods entering the U.S. are subject to FDA inspection. For a small fee, the customs broker can handle this process.
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6
Create a catalog of goods with a pricing sheet to offer potential buyers and distributors of your Asian foods. It is a good idea to bring samples with you. Make the sale. State all terms in a written and signed contract for legal protection.
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Tips & Warnings
Check for prohibited and restricted items prior to importing.
