8 ways Africans can make money in the export industry without exporting
Below are some recommendations on how to do this. These recommendations are based on in-depth analysis from reliable sources, including the Economic Times, Indeed, etc.
1. Start a Transport Business for Exporters
According to Drip Capital, transport companies offering logistics services to exporters earn a decent income. These companies manage the supply chain channel, including storage, inventory management, customs clearance, packaging, and transportation. Getting products from purchase to shipment can be quite difficult for many exporters, and Africans can earn money by providing solutions to this challenge.
Africans can make huge profits with a transport business by focusing on exporters. You can set up a transportation company to help exporters transport goods or products from point of purchase to shipment.
2. Start an export business advisory service
According to Kathryn Read, starting an export consulting business is profitable. Export trade consultants help exporters make the right decision to accelerate their business growth.
Many export consultants procure the necessary documents to move freight in and out of countries. In return, they make you pay. Africans with years of experience as exporters can make money from this business. They can turn their experience and knowledge into money by starting an export business advisory service.
3. Become a broker for exporting companies
According to Remfilson Export, export brokerage is one of the easiest ways to make money in the export business. An export broker serves as a link between the exporter and the importer. Export brokers connect importers with local sellers and earn commissions for the trade.
With the constant need for credible distributors and agents targeting overseas markets, Africans can earn as a broker for export business. Export brokerage is used to locate foreign distributors for various products in any country. You can earn money beyond the African continent without national barriers.
4. Foreign Market Research Analyst
According to Indeed, market research analysts determine a company’s customer base and make marketing decisions with data-driven strategies. These analysts examine market trends and help companies communicate effectively with target consumers.
Finding lucrative overseas markets is a challenge for many exporters, and Africans can make money by coming up with 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 figure out what is best for exporters, it’s time to earn a stable income.
5. Start blogging about exports
According to Open to Export, export business blogging is a lucrative business to start with a low investment. Export bloggers share valuable tips and information for individuals and businesses in the export sector.
Skilled Africans can earn a decent income by sharing export advice and sales of raw materials and products abroad. If you have good research and business skills with a passion for the export industry, start blogging and monetize the experience. You can quickly build a large audience by sharing high-quality information that inspires exporters to take action.
6. Set up a coaching program for exporters
According to Business Cabal, setting up a coaching program for exporters is lucrative and can improve your finances. Exporters learn special business skills, flexibility and effective management through coaching programs. Africans with in-depth knowledge of exporting can make a fortune by setting up a coaching program.
There are thousands of aspiring exporters eager to learn and intermediaries looking for additional knowledge. You can teach beginners how to get started in the export industry for a fee. Established exporters keep abreast of the latest trends in the export industry through coaching programs.
7. Start a Transport Business for Exporters
According to the Economic Times, transportation is crucial to the efficiency and profitability of exporters. Ensuring goods arrive at their destination quickly and intact is critical to 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 the transportation problems of exporters in their country and earn lucrative income. Additionally, you can facilitate the transfer of goods or products to foreign countries by establishing 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 no knowledge of marketing products in foreign markets. There is a need for massive product awareness in the overseas market and African marketing consultants are taking advantage of this. If you can create effective offline and online marketing strategies, consider the export industry. You can make money from exporters with an effective marketing plan to achieve their goals.
Africans can make money in the export industry without exporting by becoming marketing consultants, brokers or market research analysts. In addition, Africans can earn money in the export industry by providing transportation services to exporters or business advisory services. Many exporters know the importance of business consulting and transport services. It is time for Africans to start making money without exporting a single product.
Olayinka Sodiq is a skilled copywriter with technical, analytical and writing experience gained over 5 years of in-house and freelance gigs. He is versed in finance, investments, technology, blockchain, mergers and acquisitions, bankruptcy, etc.