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Setting up an import export business abroad

Kathleen Peddicord by Kathleen Peddicord
Jun 01, 2014
in Retirement/Living
0
Quito, Ecuador, has many options and advantages regarding importing-exporting of goods.
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11 Ways To Fund Your New Life Overseas

Years ago, when I had a satellite office in Quito, Ecuador, I flew into town for a visit one day to find the place full of stuff. Couldn’t make my way through the room without moving boxes and baskets out of the way.

Embroidered table linens…colorful pashminas…carved wooden santos…musical instruments…handmade rocking chairs…silver bracelets…alpaca sweaters and shawls…tagua Christmas ornaments…leather duffle bags…

We’d been discussing the idea of launching a small import/export business, and the office was overflowing with the initial stock.

Our office manager at the time sold out that inventory (in some cases for four, five, or six times our cost), but then we moved on from the idea—not because we didn’t think it viable but because other projects distracted us.

I was reminded of that experience one day this week when I walked into our office in Panama City to find the conference room table piled with stuff—hats, scarves, bags, table linens, pot holders, painted wooden bowls, jewelry—much of it, I recognized, from Ecuador.

All these years later, we’ve finally been able to return to the import/export idea. Not Lief and me but our kids. Kaitlin and Jackson have teamed up to launch Trader Jack’s Bazaar, an online marketplace where you can shop for hand-selected wares from countries where we spend time. You can take a look here.

As way back when in Quito, none of us has much time for this enterprise. Jackson is a freshman in high school. Kaitlin is my full-time managing editor. Still, the pair have established cash flow and built an infrastructure that could develop into something much bigger. Lief and I will try to help toward that end.

Meantime, how could you make enough money to support a new life wherever you imagine you want to live it? You could, for example, publish an online wine magazine…open a restaurant on a Caribbean island…start a zoo…operate a book exchange…build a school…launch a computer software company…become a travel writer…invest in a franchise…open a security firm…run a fitness center…

Each of these is a current example of a real-life expat entrepreneur success story. I’d add “build an online import/export website” to the list (à la Trader Jack’s Bazaar)…or launch an online publishing biz, as I’ve done.

Looking for ideas for how to fund the new life you’re dreaming of in the exotic locale that’s calling your name? We’re dedicating one of the workshops at this year’s Retire Overseas Conference to the topic.

Kathleen Peddicord

P.S. Already operating as an entrepreneur overseas and interested in sharing your story? I’d love to hear from you. You can reach me here.

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Tags: Children overseasEcuador exportsImport export businessOverseas entrepreneurPanama exportsTrader Jack's Bazaar
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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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