Export Profits From Colombia—and They’re Legal

Monday, Aug. 4, 2008

Learn more about making money overseas in International Living Postcards—your daily escape

Dear International Living Reader,

How do you make a living in Latin America or anywhere overseas?

Ever considered import-export? When they reach the States, imports carry bloated markups—usually eight to 10 times above the local price. Sometimes more.

Certain Colombian substances deliver mega-profits, but my contact list doesn’t include drug lords. So I asked Bogota-based Gary Tripp how he got into exporting leather and lambskin jackets to the States.

Most of Gary’s business is through his company Andes Leathers. (Getting a website makes sense. The easiest profits are in e-commerce.)

Even so, doing your homework is vital. Before restarting the business in Colombia, Gary admits he made mistakes. Around four years ago, he initially moved to Cuenca in Ecuador, where the leather shops caught his eye.

“I had strong design ideas; my business partner Charlie was a web master and marketing man. And so our company was started. Well, sort of...

“As neither of us spoke much Spanish, a huge obstacle was trying to persuade craftspeople to make what we wanted—not what they wanted to sell us.”

If you plan to run a similar business from a Spanish-speaking country, learn the language basics. But Spanish wasn’t Gary’s only problemo. Under-capitalized, he was trying to run before he could walk.

“Heard of boot-strap operations? Forget the boots, we barely had a strap. We were using imported lambskin from our tannery’s partners in Madrid, and they were pushing us to secure large orders from Stateside companies. It wasn’t going to happen. We didn’t have the capital or contacts to make it a reality.

“This is where the story should end, except that I live by a couple of sayings:

"1. Don’t fix the blame, fix the problem.

"2. Failure is not an option.

“As luck would have it, I attended a leather expo in Bogota, Colombia. Having almost two years of experience in what NOT to do, I was better able to utilize my time and communicate what I needed. (By now, I had worked my way up to Spanglish and could say hello at least eight different ways.)

“I made enough contacts to jumpstart the business in Colombia. One was Oscar and his company, Gem Leathers. He designs wallets for men and women, plus a limited line of bags for guys.

“I give Oscar pointers on marketing in the U.S. and he continues to point me in the right direction here. Charlie has also developed a biz-to-biz wholesale site. We now work with several boutiques in the States and private-label customers."

Gary uses a customs broker for large orders and ships through DHL or other express carriers. ( IL’s just-updated, hot-off-the-presses Complete Guide to Import-Export Kit contains all you need to know about customs brokers, importing into the States, and how to avoid pitfalls when starting up.)

Once you know the tricks of the trade, you can make good money. Another friend, Reece Guth, went to Nicaragua and returned with what is now a $100,000-a-year import-export pottery business.

When not sourcing new treasures, Blue Abele spends much of the year on Roatan. She took in $3,000 the first week her website was up and running. She’s now also renting retail space and selling her Latin American finds to cruise ship passengers.

Mexican silver...weavings from Guatemala...roses from Ecuador... molas and canasta baskets from Panama...amethyst trinkets from Uruguay. Even if you’re not planning to relocate yet, import-export profit possibilities abound.

Steenie Harvey
Roving Europe Editor, International Living

Editor’s Note: If you’ve ever brought back souvenirs from a trip or gone in search of a memento that’s not a kitschy tourist trinket, then you’ve got the instinct—and the first key—you need to start an import-export business. Making a success of this business is simply a matter of turning your shopping habits into an income-producing skill. You don't need any experience. You don’t need any qualifications. Find out more here.

Read related IL Postcards:

- How to Profit From Panama’s Duty-free Zone

- How to Profit From African Beads

- Low-cost Art Collecting