General Business Model in Export/Import Business Blueprint and FAQ! Any comments and advices?

8 replies
Hi guys, I would like to know where should I get started if I want to start up some trading business in the area (e.g commodities or raw material) as a brokerage/agent so I do not expose to any financial risk.

The basic model will be as follow, do you agree with me?
1. Determine the area I would like to explore and what kind of products
2. Source for manufacturer and establish relationship with them
3. Represent the manufacturer and source for potential buyers
4. Once a buyer is identified, on behalf the manufacturer to negotiate the pricing, moq and other arrangement with the seller
5. Enter an agreement with the manufacturer to secure my commission via the transaction
6. Manufacture deliver the products and close deal
7. Receive the commission from manufacturer

Do you have any advice on the above procedure? Do I have to establish a company to act as a broker(I am currently locating in Asia)? If I contact both manufacturer/supplier and potential buyer, should I allow them contact between each party? Let say if I email to the manufacturer, should I "cc" the buyer too..etc? Would that be unwise to do so?

How should I get started, do you have any advice?

THANKS!


New Questions:
1] I often heard about Jim straw's course in relation to export import, I heard that you recommend this course too, where can I get it?

2] When will your course be available, in days? or weeks? :-) It primarily focus in distress merchandise method right?

3] How would you approach a supplier/manufacturer/seller to tell them you would act as their broker and assist them to source for buyer? Where could I get the email template for me to get started right away?

4] When you firstly approach the supplier/manufacturer/seller, will you perform preliminary due diligence such as asking them to provide information of their company, factories, long/short term customer endorsement letter/track records, manufacturing background info, date of establishment, financial position..etc? Would it be too demanding to ask for those documents and is it normal to do so? And would you do similar thing to the buyer?

5] Do you have any comments on doing import/export on these stuff:
a) Raw material
b) Fossil fuels
b) Semi-finished goods
c) Finished goods

As a newbie, which I area should I explore first?
#business #comments #export or import #general #model
  • Profile picture of the author abbot
    Banned
    As a broker you shouldn't need a license. However I personally would at least register an LLC.

    Contact a customs broker and make sure you get a clear. Also, I would contact an attorney to go over the legalities and possibly draft a contract for the parties to sign. The last thing you want is to be in the middle of an international law suite because of broken, or damaged material that you had no control over.

    Here is an article to get you started.

    http://www.sba.gov/community/blogs/i...usiness-owners

    Honestly, I wouldn't take advice from anyone here. UNLESS they have done it themselves. Go straight to the horse. And ALWAYS cover your ass.
    {{ DiscussionBoard.errors[7824043].message }}
    • Profile picture of the author zunonline
      Originally Posted by abbot View Post

      The last thing you want is to be in the middle of an international law suite because of broken, or damaged material that you had no control over.... cover your ass.
      How do you limit your liability and cover your own ass in doing these brokerage business? Any ideas?

      Thanks for your advice by the way!
      {{ DiscussionBoard.errors[7824685].message }}
  • Profile picture of the author John Durham
    Hi Zuonline,

    You sent me this via email today, and I read it, just havent had a chance to respond (Patience my friend).

    As you can see the answers on each line of your plan would require several paragraphs...and a significant amount of time, which is why it is much more productive to answer in threads, because I have 20 other people asking the same questions on a thread I am tending to.. I do get to them all eventually, but I tend to answer the one or two line ones first, because others require significant time and energy investment.

    For now, no you should NEVER CC the buyer on your correspondence with the seller. YOU are the one who negotiaties your deal with the buyer, the only contact information your buyer should ever have on your seller is on the final invoice.

    On the question about establishing a company to act as a broker, let me ask... (this may sound cocky in print, but is not intended that way).

    Do you have to establish a company to help your friend sell his used car and act as a go between , in between him and a buyer?

    No, because you are already legally your own sole proprietorship, at least in America...and nobody is going to come bust your door down for helping to facilitate a deal as an individual between your friend who has a car for sale, and another friend who wants to buy it.

    At some point it will be important to register your business with a name for various reasons, and "technically" maybe if you help your friend sell his car as a broker then you are doing "business", but in reality... are you going to get in trouble for putting a buyer and seller together without having a registered name for your business?

    Well, if the country you pay your taxes to gets paid, then it's not likely.

    If you are a local web designer, and someone pays you to design a website, are you going to get in trouble for that?

    Not likely.

    Now , when you get to doing 6 figures per year, and its a fulltime thing for you, then its advisable to give it a name and register it... and its even "prudent" to do it before you even make your first sale, but is it likely that anyone is going to care?

    Not likely.

    The technical answer is yes, but the reality answer is , "dont sweat the small stuff", you dont even have a business yet until you have tried it and its working for you.

    Do the guys on the other end (manufacturers) care if you are a legal business entity?

    No, they assume you are just an individual guy putting deals together unless you tell them different, and they dont care as long as you send them a customer. Most of their liquidators (offline) show up in cover alls, in a pickup truck, and spend their days digging through boxes in the back of a warehouse.

    If you are doing enough business to justify incorporating, then do it. But for now, at least in America, you are already a sole proprietor, although at some point it is prudent to register yourself as a business and establish a DBA, more for image purposes than anything else, and so you can do things like establish a business bank account...

    I dont know how it works in Asia.

    Here there are rules, and there are "unspoken" rules.

    Hope this helps.
    -JD

    Ps. Yes your basic outline looks good!

    Originally Posted by abbot View Post

    Contact a customs broker and make sure you get a clear. Also, I would contact an attorney to go over the legalities and possibly draft a contract for the parties to sign. The last thing you want is to be in the middle of an international law suite because of broken, or damaged material that you had no control over.

    1: You should never have to deal with customs agents, that is for the seller and they buyer to do, and usually they are already both familiar with the procedures, and customs protocols are a "given" , already considered in their standard formulas for shipping and receiving ... A big buyer already knows how to deal with his receiving port, he does it for a living. The shipping companies already know how to ship... they have standard contracts that already include these things. Your buyer may tell you "I have to have it on plastic pallets or fumigated ones", Okay... No big deal, the seller will do that, the shipper will fumigate.

    I understand all the concerns people have, and they feel like they need alot of knowledge that is unnecessary... but simply put, all you really have to know is how to contact a seller, make a commission deal with them, and how to contact buyers and send them the specs....

    You dont even have to know how to make an INVOICE! lol

    I will be honest with you, on my first deal I didnt know ANYTHING... my buyer coached me through their whole buying process, and I just paid attention, and googled things so I could understand terms... It's really not rocket science at all.

    However I know that when a person talks about 20k deals, one might assume there MUST BE some rocket science involved...it simply isnt true.

    Your buyer says "I want an FOB quote, and you tell your seller "My buyer wants an FOB quote", and the sellers sends you an invoice to fwd with an FOB quote on it.

    That simple.

    YOU yourself dont have to tell your buyer what his custom agent requires, he will tell you. There is almost NO reason you should ever have to talk to a customs agent unless both your buyer and seller have never done this before. Which is HIGHLY rarely going to be the case.

    His customs agents say he needs fumigated pallets, so he tells you "I need an FOB quote that includes the price of fumigated pallets", and your seller sends you an invoice with an FOB quote that includes the price of fumigated pallets...you almost dont even have to know what the terms mean, although its good to familiarize yourself.

    2: You will never find yourself as the target of a lawsuit on a business deal where the buyer and the seller are the ones entering into the contract.

    You have nothing to do with the contract at all. That is between the buyer and seller, and it contains THEIR signatures and outlines THEIR agreement between one another.
    {{ DiscussionBoard.errors[7824060].message }}
    • Profile picture of the author zunonline
      Thanks for your very much for your reply John! Deeply appreciated!!!!!!!!!

      Originally Posted by John Durham View Post

      For now, no you should NEVER CC the buyer on your correspondence with the seller. YOU are the one who negotiaties your deal with the buyer, the only contact information your buyer should ever have on your seller is on the final invoice.
      All right, so lets say the supplier/manufacturer gave me a list of products or specs, should I delete the factory/company name and contacts information and not leaving any trace for the buyer to directly contact the supplier/manufacturer? At what moment should I allow both parties to contacting each other such as discussing terms of the contract between them and signing of it? How do you avoid the buyer getting rid of you?

      Originally Posted by John Durham View Post

      On the question about establishing a company to act as a broker, let me ask... (this may sound cocky in print, but is not intended that way).

      Do you have to establish a company to help your friend sell his used car and act as a go between , in between him and a buyer?

      No, because you are already legally your own sole proprietorship, at least in America...and nobody is going to come bust your door down for helping to facilitate a deal as an individual between your friend who has a car for sale, and another friend who wants to buy it.

      At some point it will be important to register your business with a name for various reasons, and "technically" maybe if you help your friend sell his car as a broker then you are doing "business", but in reality... are you going to get in trouble for putting a buyer and seller together without having a registered name for your business?

      Well, if the country you pay your taxes to gets paid, then it's not likely.

      If you are a local web designer, and someone pays you to design a website, are you going to get in trouble for that?

      Not likely.

      Now , when you get to doing 6 figures per year, and its a fulltime thing for you, then its advisable to give it a name and register it... and its even "prudent" to do it before you even make your first sale, but is it likely that anyone is going to care?

      Not likely.

      The technical answer is yes, but the reality answer is , "dont sweat the small stuff", you dont even have a business yet until you have tried it and its working for you.

      Do the guys on the other end (manufacturers) care if you are a legal business entity?

      No, they assume you are just an individual guy putting deals together unless you tell them different, and they dont care as long as you send them a customer. Most of their liquidators (offline) show up in cover alls, in a pickup truck, and spend their days digging through boxes in the back of a warehouse.

      If you are doing enough business to justify incorporating, then do it. But for now, at least in America, you are already a sole proprietor, although at some point it is prudent to register yourself as a business and establish a DBA, more for image purposes than anything else, and so you can do things like establish a business bank account...
      Okay, so your conclusion here for me as a newbie, it would be more flexible to do on my own first as an individual instead of using a business entity at this moment and yea, once I am making more money and things are going really well earning big money, then I should consider establish a company and do the business registration, am I correct?

      Originally Posted by John Durham View Post

      You have nothing to do with the contract at all. That is between the buyer and seller, and it contains THEIR signatures and outlines THEIR agreement between one another.
      Yes, you are right, but should I also enter into an referral agreement between the supplier/manufacturer to secure my name? Usually you ask for the commission from the supplier/manufacturer, right?

      New Questions:
      1] I often heard about Jim straw's course in relation to export import, I heard that you recommend this course too, where can I get it?

      2] When will your course be available, in days? or weeks? :-) It primarily focus in distress merchandise method right?

      3] How would you approach a supplier/manufacturer/seller to tell them you would act as their broker and assist them to source for buyer? Where could I get the email template for me to get started right away?

      4] When you firstly approach the supplier/manufacturer/seller, will you perform preliminary due diligence such as asking them to provide information of their company, factories, long/short term customer endorsement letter/track records, manufacturing background info, date of establishment, financial position..etc? Would it be too demanding to ask for those documents and is it normal to do so? And would you do similar thing to the buyer?

      5] Do you have any comments on doing import/export on these stuff:
      a) Raw material
      b) Fossil fuels
      b) Semi-finished goods
      c) Finished goods

      As a newbie, which I area should I explore first?
      {{ DiscussionBoard.errors[7824657].message }}
  • Profile picture of the author John Durham
    Hi Zuonline,

    Looking back through your questions, much of them are focused on liability. I would caution you against approaching this with your eyes on what could go wrong, as much as what could go "right", because there is a MUCH higher probability of something going right , than wrong with this.

    These manufacturers VALUE your service, and your partnership, especially if you show them that you can sell. They arent generally going to go around you, or let anyone else do so, although Im sure there is a rare exception to that rule, we gain more ground by playing to the rules and not the exceptions.

    There is only one contract that can really protect you, and if you listen this will make sense.

    If you sign a contract with a manufacturer that says he cant sell to any of your customers, then what could potentially happen?

    If he is dishonest he could go to your customer and tell them "I will sell to you without the middle man, but you have to do it under a different name".

    So in that case your contract does not protect you.

    On the other hand, if your BUYER decides to go to your seller around you, which they usually wont for SEVERAL reasons... then they could easily go under a different name and buy around you anyway... So, again, your contract does not protect you.

    There is only one contract that will protect you.

    That is when you sign an agreement with the seller that says they cant sell ANY OF THE INVENTORY without you. That means that you lock up their WHOLE stocklot, and no one else can sell it but you, not even the manufacturer.

    Then it doesnt matter who goes around who... because if any of that stocklot goes missing, the seller is liable to you .

    However "Good luck getting a seller to agree to that". If you havent sold out his warehouse before, and he doesnt know for a fact that you can get rid of the whole stocklot in a reasonable amount of time, he is going to tell you tio take a hike, before signing something like that.

    Why?

    because he has no guarantee of your ability, and he has other brokers that he might work with, and someone may come to him personally and want to buy some of it... He isnt going to let you lock it up in an exclusive unless you are DAMN convincing, and then he will do it reluctantly in a very rare case.

    He isnt going to miss opportunities to sell because he has all his stocklot locked up in a contract with a guy who he doesn't know.

    However, if you work on good faith the first time, and do a good job and sell it in a timely manner, then you may get a contract the next time around.

    This is pretty much a handshake kind of business, and it has been for centuries because of these reasons, people develop trusting relationships and comradery...

    If you approach this from a fear based perspective you wont get anywhere.

    Some will argue this, but I GUARANTEE you, after much experience... that you will have to sell hard till you are blue in the face to even get one out of 100 sellers to do that, and then you better be able to back up your word and sell it all in a reasonable amount of time, or you just cost him months...

    Whats generally going to happen is that you are going to sell a load of it here and there, or maybe a few, and he is also working on the problem simultaneously, because its his job, and trying to get rid of it along side you... in a rare case you may sell out the whole warehouse in one customer... but it isnt realistic to ask a manufacturer to lock up his whole inventory for months, with no evidence that you are actually going to sell it.

    Others who think they know what they are talking about, and don't, can argue this, but I promise you, that is the ONLY kind of contract that will protect your interest, and most times a contract is not needed.

    In a rare case you might get a bad apple, but thats business. Most of the people in it are honest.

    I would just stick out my hand and shake with people (cyber shake) , create some good will faith, and rock and roll and move forward, and drop all the fears...

    Some are going to advise: "It's not fear, its smart business"... Okay, then try it....Call 1000 manufacturers and see how many you can lock down to a contract while someone else has already made a deal...and then tell me who is smart.

    Theory and reality are often different animals.

    Thats my two cents, take it and you will do well. You COULD try to to lock some manufacturers down to exclusive contracts if you want to test this for yourself and see if Im wrong or not, but Im telling you that in practical application, it isnt going to work without a serious verifiable track record to present.

    Once you have references and a track record, people will sign contracts like that with you sometimes, but not often, because usually they are working on their own prospects too.

    -John
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    • Profile picture of the author zunonline
      Originally Posted by abbot View Post

      As a broker you shouldn't need a license. However I personally would at least register an LLC.

      Contact a customs broker and make sure you get a clear. Also, I would contact an attorney to go over the legalities and possibly draft a contract for the parties to sign. The last thing you want is to be in the middle of an international law suite because of broken, or damaged material that you had no control over.

      Here is an article to get you started.

      Importing Goods into the U.S.

      Honestly, I wouldn't take advice from anyone here. UNLESS they have done it themselves. Go straight to the horse. And ALWAYS cover your ass.
      Originally Posted by John Durham View Post

      Hi Zuonline,

      Looking back through your questions, much of them are focused on liability. I would caution you against approaching this with your eyes on what could go wrong, as much as what could go "right", because there is a MUCH higher probability of something going right , than wrong with this.

      These manufacturers VALUE your service, and your partnership, especially if you show them that you can sell. They arent generally going to go around you, or let anyone else do so, although Im sure there is a rare exception to that rule, we gain more ground by playing to the rules and not the exceptions.

      There is only one contract that can really protect you, and if you listen this will make sense.

      If you sign a contract with a manufacturer that says he cant sell to any of your customers, then what could potentially happen?

      If he is dishonest he could go to your customer and tell them "I will sell to you without the middle man, but you have to do it under a different name".

      So in that case your contract does not protect you.

      On the other hand, if your BUYER decides to go to your seller around you, which they usually wont for SEVERAL reasons... then they could easily go under a different name and buy around you anyway... So, again, your contract does not protect you.

      There is only one contract that will protect you.

      That is when you sign an agreement with the seller that says they cant sell ANY OF THE INVENTORY without you. That means that you lock up their WHOLE stocklot, and no one else can sell it but you, not even the manufacturer.

      Then it doesnt matter who goes around who... because if any of that stocklot goes missing, the seller is liable to you .

      However "Good luck getting a seller to agree to that". If you havent sold out his warehouse before, and he doesnt know for a fact that you can get rid of the whole stocklot in a reasonable amount of time, he is going to tell you tio take a hike, before signing something like that.

      Why?

      because he has no guarantee of your ability, and he has other brokers that he might work with, and someone may come to him personally and want to buy some of it... He isnt going to let you lock it up in an exclusive unless you are DAMN convincing, and then he will do it reluctantly in a very rare case.

      He isnt going to miss opportunities to sell because he has all his stocklot locked up in a contract with a guy who he doesn't know.

      However, if you work on good faith the first time, and do a good job and sell it in a timely manner, then you may get a contract the next time around.

      This is pretty much a handshake kind of business, and it has been for centuries because of these reasons, people develop trusting relationships and comradery...

      If you approach this from a fear based perspective you wont get anywhere.

      Some will argue this, but I GUARANTEE you, after much experience... that you will have to sell hard till you are blue in the face to even get one out of 100 sellers to do that, and then you better be able to back up your word and sell it all in a reasonable amount of time, or you just cost him months...

      Whats generally going to happen is that you are going to sell a load of it here and there, or maybe a few, and he is also working on the problem simultaneously, because its his job, and trying to get rid of it along side you... in a rare case you may sell out the whole warehouse in one customer... but it isnt realistic to ask a manufacturer to lock up his whole inventory for months, with no evidence that you are actually going to sell it.

      Others who think they know what they are talking about, and don't, can argue this, but I promise you, that is the ONLY kind of contract that will protect your interest, and most times a contract is not needed.

      In a rare case you might get a bad apple, but thats business. Most of the people in it are honest.

      I would just stick out my hand and shake with people (cyber shake) , create some good will faith, and rock and roll and move forward, and drop all the fears...

      Some are going to advise: "It's not fear, its smart business"... Okay, then try it....Call 1000 manufacturers and see how many you can lock down to a contract while someone else has already made a deal...and then tell me who is smart.

      Theory and reality are often different animals.

      Thats my two cents, take it and you will do well. You COULD try to to lock some manufacturers down to exclusive contracts if you want to test this for yourself and see if Im wrong or not, but Im telling you that in practical application, it isnt going to work without a serious verifiable track record to present.

      Once you have references and a track record, people will sign contracts like that with you sometimes, but not often, because usually they are working on their own prospects too.

      -John
      Thanks, thanks for getting rid of my fear, so I guess I will listen to you and forget about entering any clumsy contract with the manufacturer at this stage or in this kind of business! But I have also asked a few questions in my previous post #4, if you have time, I will be appreciated to listen to your advices on them. Thanks John.
      {{ DiscussionBoard.errors[7828109].message }}
      • Profile picture of the author John Durham
        Originally Posted by zunonline View Post

        Thanks, thanks for getting rid of my fear, so I guess I will listen to you and forget about entering any clumsy contract with the manufacturer at this stage or in this kind of business! But I have also asked a few questions in my previous post #4, if you have time, I will be appreciated to listen to your advices on them. Thanks John.
        I am not qualified to give legal advice, but if you read my post and put two plus two together it should make sense.

        I want to state for the record that I am not an attorney, I am not qualified to act as one, but I do know how things operate, and my expression is based on real life experience working within the business.

        If you feel the need to have a contract go for it, Im just saying it wont protect anything if a buyer goes around you under another name, and Im explaining the nature of how these deals work, through my own verifiable experience.

        Re:

        4] When you firstly approach the supplier/manufacturer/seller, will you perform preliminary due diligence such as asking them to provide information of their company, factories, long/short term customer endorsement letter/track records, manufacturing background info, date of establishment, financial position..etc? Would it be too demanding to ask for those documents and is it normal to do so? And would you do similar thing to the buyer?

        Not sure why anyone would need all this verification from a manufacturer...The real question is "Do they have product".

        If you have the name of their company its easily enough verifiable through many common resources. The only important thing is "Do they have products that your customer would want to buy? Are they actually in possession of it, and can they deliver it?"

        If there are doubts the buyer knows how to say "I wont pay until the product is accounted for, loaded onto the ship but I will put the money in escrow, and agree that it will be released once the product has been accounted for...".

        There are common ways of dealing with these things, if they are issues.

        It's really a much more casual deal than people are thinking it is...

        I myself have done it more times than I could count in my underwear at three in the morning, chatting with a buyer from the other side of the world online, and closing a deal...

        I think alot of people hyper inflate the "image" factor on this.... A buyer doesnt care about your endorsements... they only care if your seller has the product.

        It's not selling SEO and promising someone the moon and stars...its pretty cut and dry- "You either have the product I need or you dont"

        For example:

        Your seller could be a farmer who got a "bright idea" and bought a wholesale lot and has it sitting in the back of his barn because he got in too deep and wasnt able to sell it.

        If they express concern about credibility, the only credibility you need is by asking them one question: "You wanna fly in and LOOK at it? I can arrange for the farmer to meet with you..."

        They WONT want to, but just the fact that its an option gives them an idea that you are for real.

        They buyer doesnt care if he has an office in the middle of a city and super endorsements....the buyer doesnt care that he is just a farmer with a barn full of products he bought and tried to sell and failed... as long as he has the product they need.

        It wouldnt be too demanding to ask a seller for these things but he might look at you and wonder " What kind of liquidator are you? Are you sure you do this for a living?"

        Hope this helps.

        -John

        Ps. To answer your question, I will try to get this report out by early next week.
        {{ DiscussionBoard.errors[7828144].message }}
        • Profile picture of the author zunonline
          Originally Posted by John Durham View Post

          I am not qualified to give legal advice, but if you read my post and put two plus two together it should make sense.

          I want to state for the record that I am not an attorney, I am not qualified to act as one, but I do know how things operate, and my expression is based on real life experience working within the business.

          If you feel the need to have a contract go for it, Im just saying it wont protect anything if a buyer goes around you under another name, and Im explaining the nature of how these deals work, through my own verifiable experience.

          Re:

          4] When you firstly approach the supplier/manufacturer/seller, will you perform preliminary due diligence such as asking them to provide information of their company, factories, long/short term customer endorsement letter/track records, manufacturing background info, date of establishment, financial position..etc? Would it be too demanding to ask for those documents and is it normal to do so? And would you do similar thing to the buyer?

          Not sure why anyone would need all this verification from a manufacturer...The real question is "Do they have product".

          If you have the name of their company its easily enough verifiable through many common resources. The only important thing is "Do they have products that your customer would want to buy? Are they actually in possession of it, and can they deliver it?"

          If there are doubts the buyer knows how to say "I wont pay until the product is accounted for, loaded onto the ship but I will put the money in escrow, and agree that it will be released once the product has been accounted for...".

          There are common ways of dealing with these things, if they are issues.

          It's really a much more casual deal than people are thinking it is...

          I myself have done it more times than I could count in my underwear at three in the morning, chatting with a buyer from the other side of the world online, and closing a deal...

          I think alot of people hyper inflate the "image" factor on this.... A buyer doesnt care about your endorsements... they only care if your seller has the product.

          It's not selling SEO and promising someone the moon and stars...its pretty cut and dry- "You either have the product I need or you dont"

          For example:

          Your seller could be a farmer who got a "bright idea" and bought a wholesale lot and has it sitting in the back of his barn because he got in too deep and wasnt able to sell it.

          If they express concern about credibility, the only credibility you need is by asking them one question: "You wanna fly in and LOOK at it? I can arrange for the farmer to meet with you..."

          They WONT want to, but just the fact that its an option gives them an idea that you are for real.

          They buyer doesnt care if he has an office in the middle of a city and super endorsements....the buyer doesnt care that he is just a farmer with a barn full of products he bought and tried to sell and failed... as long as he has the product they need.

          It wouldnt be too demanding to ask a seller for these things but he might look at you and wonder " What kind of liquidator are you? Are you sure you do this for a living?"

          Hope this helps.

          -John

          Ps. To answer your question, I will try to get this report out by early next week.
          Hello John, thanks for your prompt reply!!! :-) I am pretty clear in the area of liability, thanks for your view! I am really appreciate that you are willing to share all those good experience to all of us, I am pretty sure appreciate your effort!

          But to get it clear, do you have any ideas on the following question?

          a) Okay, so lets say the seller gave me a list of products and specs of it, will you remove the factory/company name and contacts information or it doesn’t really matter at all as the deal is based on good faith as you mentioned previously? Usually at what moment you will bring the both parties together to allow them entering into the supplying agreement? After issuing the invoice?


          b) So if I am getting it right, it would be more flexible and as an usual practice to do on my own first as an individual instead of using a business entity at this stage and it would be more secure to establish a company and business registration when I am making more money and things are going really well?


          c) Do you usually mark up the selling price a bit and earn the different or earn the commission based on the transaction value? And how do you determine the commission percentage? As a distressed goods, you usually mark up 100% but what if its not a distressed goods?


          d) In usual practice or in the way that you do, you would ask for the commission from the seller instead of the buyer, am I correct? And do you mention the commission at the very beginning in your first email/phone call?


          e) Is Jim Straw's course in relation to export import still available?


          f) How would you approach a supplier/manufacturer/seller to tell them you would act as their broker and assist them to source for buyer?
          Do you know where could I get the email template for me to get started right away?


          g) What are you views on doing import/export on these stuff?

          a) Raw material
          b) Fossil fuels
          b) Semi-finished goods
          c) Finished goods


          As a newbie, which I area should I explore first?

          Thanks for your your precious time!
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