Saturday, March 5, 2011

My redrafted thesis statement:
This project will culminate in a business plan with the purpose of allowing me to launch a company in which I will export classic and other valuable vehicles from Uruguay and other South American countries to the United States for resale. My project will address the concerns, questions and logistics that go into running a business of this magnitude and will determine if I should go ahead with launching this business.

The goals of this project:
- I have decided to focus on vehicles (classic, antique, rare, desired automobiles and motorcycles). At this point in the business I will only deal with vehicles that are 25 years old or older as these are not regulated by the EPA or DOT. For now I will not be dealing with other products that are not automotive related. (I will import auto parts as well as complete vehicles). I realized that my real passion is cars and I needed to narrow my scoop a bit. If I can pull this business off it will be my dream career so I would like to focus my energy towards this.
- I will establish connections with locals who will act as “Independent Agents” who will find the vehicles and handle the purchasing, paperwork and shipping of the vehicles. (These will be individuals that I already know and others that I can trust. Using native agents will allow me to more easily get around the red tape and not be taken advantage of by locals, etc). They will be paid a finder’s fee as well as a percentage of my final profit. This will give them great incentive to purchase the vehicles for as little as possible and find the most valuable vehicles as well. In this way I will be providing great opportunities for locals and saving time and money on my end.
-I will set up communication and documentation procedures to cover the South American end of the business. I will be using Skype or a similar video conferencing tool to communicate regularly and receive photos and information.
-I will understand the importation procedures like an expert since this is the most challenging aspect of the business. By dealing with non-regulated vehicles I can avoid a lot of the difficulty.
-I will set up a plan to market and distribute the vehicles once here in the US. I have to figure out if I want to personally pick up the vehicles, sell them when they arrive or have them shipped to me. This will require a great deal of research into the local market and cost analysis. I have some well developed ideas already.

Annotated Bibliography
Books:
Exporting and Importing; Negotiating Global Markets. Amy Zuckerman and David Biederman
I got this book from the UVU library. This book is a good technical resource for my project because it goes into great depth about Customs procedures, all the costs associated with importing, and duty management and government forms. This book along with more up-to-date government websites will be an invaluable resource.

Start Your Own Import/ Export Business. National Business Library
I got this book from the UVU library and while a little outdated is a good source because it provides the basic information to get started and targets the newbie like myself. It also is targeted to those who have no prior experience or even a college degree. It covers product selection, start up costs, legal and tax considerations, and common pitfalls. I am interested in this book because it explains the different roles that I could focus on.

Export, Import; Everything you and your company need to know to compete in world markets. Joseph A. Zodl
I got this from the UVU library. Although this book targets established businesses it gives practical solutions and examples that are useful. It has sample forms, letters for contacting potential clients, culture and language considerations, and many resources and links.

Doing business in Uruguay. Price Waterhouse
I got this from the UVU library. It gives specific information about doing business in Uruguay and includes local laws, history, business environment and taxation. This will be important since getting information about foreign countries is difficult.

Doing business in Paraguay. Price Waterhouse
I got this from the UVU library. It gives specific information about doing business in Paraguay and includes local laws, history, business environment and taxation. This will be important since getting information about foreign countries is difficult.

Doing business in Argentina. Price Waterhouse
I got this from the UVU library. It gives specific information about doing business in Argentina and includes local laws, history, business environment and taxation. This will be important since getting information about foreign countries is difficult.

Doing business in Chile. Ernst & Young
I got this from the UVU library. It gives specific information about doing business in Chile and includes local laws, history, business environment and taxation. This will be important since getting information about foreign countries is difficult.

Marketing. Armstrong & Kotler
This is my Marketing textbook from my business marketing class a year ago. I thought this book would be useful because an important part of my project is to successfully market and move my products once I have them here. I really liked this textbook and it will help me find my customers and represent my products correctly.

The Encyclopedia of Classic Cars. Kevin Brazendale
This is a good reference guide so that I can get more familiar with classic and desired vehicles here in the US. It will be important that I can accurately identify vehicles and make sure that they are not replicas or not what the owners say they are.

The Encyclopedia of the Motorcycle. Hugo Wilson
Although I had not originally considered importing motorcycles I think it might be a good option considering their size, value and collectability. I need to do more research on the motorcycles that may be available in South America but I think this might be a good business opportunity.

D&B Export Guide: Uruguay. D&B
This is an e-document that has up-to-date information specific to exporting out of Uruguay. This document contains specific information that I will need to know about trade regulations, documentation, key contacts, and shipping. I also have the websites for other countries in South America however I am mainly focusing on Uruguay right now.

Import/Export for Dummies. John J. Capela
This is a good series of books that makes the topic more understandable. This covers a lot of the topics in the other books but in simple terms.

Websites:
http://www.cbp.gov/
This is the customs and border patrol website. They are the government entity that regulates imports to the US. Most of the forms and essential information can be found on this site as well as links to other resources for the government.

http://www.dot.gov/
This is the Department of Transportation website for the US. This site will help me know which vehicles I can import and how they can get through customs and be registered. They also set the rules for vehicle safety tests and regulations.

http://epa.gov/
This is the Environmental Protection Agency website. They regulate emission testing and controls over imported vehicles.

http://www.nada.com/
This is the most reliable and trusted site for classic car values. This is what buyers for my vehicles would refer to when determining a fair purchase price. This is essential for me to determine if I should make a buy or not based on profit margin.

www.autorevival.com
This is a good resource with information about restoring vehicles. It also has good information about indentifying vehicles and parts. (Sometimes the best information about vehicles comes from blogs and personal experiences from others. I may or may not be doing my own restoration work but this website will be a good resource.

www.antiquecar.com
This is a site that has classifieds and vehicle values. This will help me determine the market value of each model and the trends in the market.
www.hemmings.com
This site is a well respected resource in the automotive community. It has classifieds, values, and links to buyers.

www.uruwashi.org
This is Uruguay’s embassy website here in the US. It has good resources for doing business in Uruguay and contacts. I also have the websites for other countries in South America however I am mainly focusing on Uruguay right now.

http://uruguay.visahq.com
This is the US embassy in Uruguay website. It has contact information and resources in Uruguay. I also have the websites for other countries in South America however I am mainly focusing on Uruguay right now.

www.buyusa.gov/uruguay/en/42.html
This is the department of commerce of Uruguay’s website. They help to promote US citizens in their efforts to engage in commerce in Uruguay. I also have the websites for other countries in South America however I am mainly focusing on Uruguay right now.

Other sources:
-I personally know a variety of people who have lived, live, or have done business in South America. I am talking or will contact all of these people. Some of them may be business partners or hired agents for my business.
-I haven’t yet found any scholarly journals, articles, or people who have done exactly what I want to do. I do know that it has been done however.

2 comments:

  1. "I will understand the importation procedures like an expert"! Now you're talking. And the scope of the project is more clear. And you've got a bunch of good resources. Nice progress!

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  2. James,

    I second Scott's kudos, and I also would like to highlight your intention to "determine if I should go ahead with launching this business." That would make an excellent target goal for the whole project. If the aim of all your work here is to determine whether or not to launch this particular business it will focus every other aspect of the project. Keep that aim in mind in all your research and writing, and keep the conclusion open-ended until you reach the point of fully drafting the thesis. It will drive you and prevent you from wandering up side-alleys that could delay the project's completion.

    A minor technical remark about your sources--I noticed that for several of the "Doing Business in X" series you list the publisher but no authors. Check for the specific authors and if the books really are anonymously authored, follow standard citation guidelines for dealing with anonymously or collectively authored works.

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