Canadians know they’ll pay more when they shop in the states, but interestingly few consider the opposite scenario, which is how much they could earn by selling in the states. Even with border clearance costs, Canadians can earn 20% or more on their US sales (Exchange Rate Calculator).
The opportunity to export and sell goods to the American market, offers Canadian business owners a lucrative means of offsetting subsequently higher costs of goods sold (many use US suppliers) as well as provide a growth strategy outside the Canadian market. (Ref. Online US Sales Help Canadian Retailers Cope With Low Loonie)
One Alberta-based manufacturing company, whose sales had ‘plateaued’, made the decision to sell to the U.S. and his company ‘literally doubled its sales in just over three years’. While the owner, a mechanical engineer, admits there were ‘hoops’, risks and the paperwork required patience, in the end he found it was well worth the effort.
Learn how Canadians can earn US dollars (USD) as ‘non-resident importers’ and find additional helpful articles about expanding a business into the U.S.A. here: https://ucantrade.com/articles
TradeTips blog is published by UCanTrade, Inc., your cross-border experts since 1984.
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