If you are an owner of a business that has experienced rapid success in the domestic market, you probably have your sights set on international growth. And why not? Expanding your market is a way to scale sales revenue.
While on paper that may sound fairly straightforward, international shipping can easily become an expensive and time-wasting process. In fact, not fully understanding the international shipping process going in, could eat away at tight margins.
Being aware means you can prepare.
By following some simple best practices, doing some initial research and partnering with a shipping solution expert (such as Freightcom), your domestic business will be able to reach a global audience and grow profits.
To get you started on your international journey, here are four tips that will help you save money when shipping overseas:
1 - What taxation and custom rules apply?
Shipping overseas isn’t as easy as sticking a label on a package and watching it arrive on your customer’s doorstep. Sending your products across borders means you need to do your research on what taxation and custom rules apply.
If you don’t meet these regulations, it’s possible that your shipment could be rejected and returned to you - not only upsetting your customer but also racking up a significant amount of wasted time and money for your business
By doing some simple research into your destination and the taxation and custom rules that apply, your organization can easily avoid any costly mistakes.
2 - Speed doesn’t always win the race
No matter how fast your customers want to receive your product, prioritizing speed of delivery over cost doesn’t always make sense for your business. In fact, this may be the one case where putting your customer first may be detrimental to your company.
Small business owners should take the time to find an option that balances both speed and cost in a way that both the customer and your business wins.
3 - Minimize your packaging
Space is the most valuable commodity for a transportation company. By ensuring your business packages its deliveries properly and efficiently, you will reduce the amount of space and weight the shipment occupies on an airplane, truck, or an ocean freight container.
By taking up less space, you will receive the best possible shipping price for your goods. Want to learn how to reduce your packaging but at the same time prevent damage? Read our recent blog, Help Prevent Shipping Damage With These Tips for Ecommerce Shippers, for some best practices.
Remember, protective and efficient packaging will help your company save time and money on shipping and returns.
4 - Stay up to date with overseas shipping costs
Due to the fluctuating nature of airfare and marine shipping costs, the price of shipping overseas is always changing. Staying updated with current shipping prices and shopping around for the best rates will ensure your business makes the most informed decision - helping you to continue to grow profits.
This is also an important step when setting your quarterly or annual shipping budget. By creating a budget that covers any reasonable shopping cost increases and potential issues, you’ll ensure that you’re not eating into your profits later in the year.
How can Freightcom help?
If your domestic business is expanding and you’re looking for a little help with those international shipments - look no further than Freightcom. Through the development of an innovative and unique software solution, including real-time comparative shipping rates, Freightcom has successfully automated the time-consuming shipping process.
By simplifying the shipping process for shipper and carrier, as well as transforming the traditional manual processes of calling a carrier, obtaining a rate, booking a shipment, packaging the product etc., Freightcom can help your business save time, money and focus on what matters most - serving your customers.
Ready to find out more about how our unique software solution is transforming the shipping process for SME businesses across Canada and the US? Contact our team of experts today, we’d be more than happy to answer any questions you have. Ready to Go Global? Money Saving Tips for Shipping Overseas.