first time poster her. Ive searched through the group but don't know if I'm over thinking this so maybe you can help me out.
I am looking to find ways to build capital. Selling things tend to come a bit easy for me. I am currently a flight attendant now and travel all over the world for free. Lately I have been spending a lot of time in Ghana and in Senegal and I thought about starting a boutique or store of some sort. I spoke with local shop owners and asked them how much they sell their products for and how much they buy them for and the margins were nice. I would be able to get the same products for much cheaper since I can source them myself from China, Cambodia, Turkey, etc without needing a middleman so it is something that I am strongly considering.
My question is this, If I were to do something like this, what would be the best way to send my profits to me? It seems confusing to me because all sales will be conducted in cash in the local currency. Most west africans do not do business with credit or debit card, they use cash or mobile pay services, so I would have to deposit the cash into a bank account and then have it converted, or have the payments transferred to the account if they're paying using mobile pay I'm assuming. Is it something as simple as just opening a bank account and just doing an international wire transfer or will it be far more complex? When I am in China I see lots of Africans at the wholesale markets who fly there to buy things in bulk to sell back home in their country, so I know there is a huge need for various products, but getting the money back to me is what I have a question about.
I hope my post isn't confusing.
Thanks for your time...