N
neilimpex
- Original Poster
- #1
I'm starting an import/export agent business venture (as a sole trader). I will market new & innovative products from different countries to retailers and wholesalers in the UK. My aim would be to get bulk, recurring orders. I would be the middle man between the manufacturer and retailer, and my commission would be 10 - 15%.
I already have a couple of manufacturers in the USA and Europe who are interested in me being their UK distributor/export agent, and we are about the sign a distributor contract. I also have some UK wholesalers who want to see the products I'm marketing.
I've got some questions about the logistical side of handling orders.
1) Is it best to use a freight forwarder to handle shipping and all the customs paperwork, or do the paperwork myself? If so, do I contact freight forwarders in the country I'm importing from or are there UK based freight forwarders who can handle imports from abroad? What about costs from port to the retailer or wholesaler - is that included in a freight forwards service, or would I need to hire another company to do that?
2) When a retailer or wholesaler places an order, I will add 10 to 15% on top of the price I pay the manufacturer for the order. Do I also add the cost of freight forwarding onto the order and charge this to the buyer before adding my mark up?
3) Do I need to pay VAT, and do I need a VAT number to be an import export agent? I have a manufacturer in Europe who wants to send me a sample of their product, but had asked for my VAT number. I don't have one.
4) Do I have to pay import duty from all countries or just the USA?
I just need to know how to handle the red tape/administration of being an import/export agent and how to add my mark up etc. I can do the selling no problem it's just the logistical side I need advice on.
I already have a couple of manufacturers in the USA and Europe who are interested in me being their UK distributor/export agent, and we are about the sign a distributor contract. I also have some UK wholesalers who want to see the products I'm marketing.
I've got some questions about the logistical side of handling orders.
1) Is it best to use a freight forwarder to handle shipping and all the customs paperwork, or do the paperwork myself? If so, do I contact freight forwarders in the country I'm importing from or are there UK based freight forwarders who can handle imports from abroad? What about costs from port to the retailer or wholesaler - is that included in a freight forwards service, or would I need to hire another company to do that?
2) When a retailer or wholesaler places an order, I will add 10 to 15% on top of the price I pay the manufacturer for the order. Do I also add the cost of freight forwarding onto the order and charge this to the buyer before adding my mark up?
3) Do I need to pay VAT, and do I need a VAT number to be an import export agent? I have a manufacturer in Europe who wants to send me a sample of their product, but had asked for my VAT number. I don't have one.
4) Do I have to pay import duty from all countries or just the USA?
I just need to know how to handle the red tape/administration of being an import/export agent and how to add my mark up etc. I can do the selling no problem it's just the logistical side I need advice on.
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