Exporting products and produce in some African countries could be challenging experience for exporters especially in Nigeria.
According to africa.businessinsider.com, the export industry is one of the oldest and most lucrative businesses globally. There are ways to circumvent these challenges in the industry without necessarily engaging in export.
Exporting commodities/products between different countries can be hugely rewarding. It is also ideal for Africans. And the best part is that it’s possible to make money in the export industry without actually exporting.
Below are some recommendations on how to go about this. These recommendations are based on insightful analysis from reliable sources, including the Economic Times, Indeed, etc.
1. Start a haulage company for exporters
According to Drip Capital, haulage companies offering logistics services to exporters earn a decent income. These companies handle the supply chain channel, including storage, inventory management, clearing, packaging and transport. Moving products from purchase to dispatch can be quite challenging for many exporters, and and Africans can make money by providing solutions to the challenge.
Africans can make huge profits with a haulage company by narrowing the focus to exporters. You can start a haulage company helping exporters move commodities or products from the point of purchase to dispatch.
2. Start an export business consulting service
According to Kathryn Read, starting an export business consultancy is profitable. Export business consultants help exporters make the right decision to accelerate business growth.
Many export consultants procure the documents that are needed to move freight in and out of countries. In return, they get you paid. Africans with several years of experience as exporters can make money from this line of business. They can convert their experience and knowledge into cash by starting an export business consulting service.
3. Become a broker for export businesses
According to Remfilson Export, export brokerage is one of the easiest ways to make money in the exportation industry. An export broker functions as a link between the exporter and importer. Export brokers connect importers to local sellers and earn commissions for the trade.
With the constant need for credible distributors and agents targeting foreign markets, Africans can earn as a broker for export business. Export brokerage is for locating foreign distributors for various products in any country. You can make money beyond the African continent without national barriers.
4. Foreign market research analyst
According to Indeed, market research analysts determine a business’ customer base and make marketing decisions with data-driven strategies. These analysts examine market trends and help businesses communicate effectively with target consumers.
Finding lucrative foreign markets is a challenge for many exporters, and Africans can make money by providing solutions. Many exporters rely on incomplete information leading to massive losses, and skilled Africans solve the problem. If you can research and analyze foreign markets and determine the best for exporters, it’s time to earn a steady income.
5. Start blogging on export business
According to Open to Export, blogging on export business is a lucrative business to start with low investment. Export bloggers share valuable tips and information for individuals and companies in the exporting industry.
Skilled Africans can earn a decent income by sharing exporting tips and sales of commodities and products overseas. If you have good research and business skills with a passion for the export industry, start blogging and monetize the experience. You can build a large audience quickly by sharing high-quality information inspiring exporters to take action.
6. Set up a coaching programme for exporters
According to Business Cabal, setting up a coaching programme for exporters is lucrative and can improve your finances. Exporters learn the business special skills, flexibility and managing effectively from coaching programs. Africans with deep knowledge of the export business can make a fortune by setting up a coaching program.
There are thousands of aspiring exporters willing to learn and intermediates seeking additional knowledge. You can teach newbies how to get started in the export industry for a fee. Established exporters stay abreast of the export industry’s latest trends through coaching programs.
7. Start a transport company for exporters
According to the Economic Times, transportation is crucial to the efficiency and profitability of exporters. Ensuring goods get to their destination quickly and intact is essential for the business. Africans who dream of starting a transport business should consider the export industry for rewarding opportunities.
Africans can start the business to solve transport issues for exporters in their country and earn lucrative returns. Furthermore, you can facilitate the transfer of commodities or products to foreign countries by starting a shipping company.
8. Become an export marketing consultant
According to The Balance Small Business, marketing consultants develop and implement marketing strategies for business growth. Many skilled Africans can create an effective marketing plan for exporters and it’s time to earn a desirable income.
Most exporters have zero knowledge on product marketing to the foreign markets. There is a need for massive product awareness in the foreign market and African marketing consultants earn from it. If you can create an effective offline and online marketing strategies, consider the export industry. You can make money off exporters with an effective marketing plan to attain their goals.
Africans can make money in the in the export industry without exporting, by becoming marketing consultants, brokers or market research analysts. Furthermore, African can make money in the export industry by providing haulage services to exporters or business consulting services. Many exporters know the importance of business consultancy and transport services. It’s time for Africans to start making money without exporting a single product.