Are you planning for a diversity of your business? Do you have a plan to leverage cheaper made products? If you answered yes in any of these questions, then we might have a solution for you, and this solution is none other than China. Importing products from China has become an essential ingredient for most business owners.
However, before you can rush and import products from China, there are a couple of things you have to get right. We have compiled this guide to help you through the process of identifying marketable products and how to import them. Let’s get started.
Identify What to Import
As with any other type of investment, you have to ensure that everything goes according to plan and that you have a clear understanding of the ins and out of business. You need to find products that are going to attract your local demand. Examples of these popular products may be electrical fittings, plumbing fittings, sanitary wares, electronics, tiles, jewelry among others.
Find a Good Supplier
The key to getting the best quality products and on time lies in finding good suppliers. Sites such as aliexpress and Alibaba have an excellent database of Chinese manufacturers that you can count on. From these sites, you can find great suppliers for almost anything you need. However, it is essential to have a cross check on their credentials to ensure that you are getting the right deal. Before you can purchase goods in bulk, ask the supplier to send you some samples to ascertain if they meet your standards.
Determine Your Budget
Since the primary aim of importing from China is to re-sell, it is essential that you place the right orders. Apart from what you will incur in paying suppliers for goods, you will also spend a considerable amount on paying for duty fees, freight charges, clearing, inspection fees and any other charges. Have a real budget in place which will guide you in determining the maximum you can spend on the products to import.
Handling the Goods
First, you need to ensure that the goods you wish to import are permitted in your country. Also ensure these goods will be subject to permits, regulations and other restrictions. Note that China has many outlets where foreign goods get dispatched. These outlets include Tianjin, Guangzhou, Shenzhen, Qingdao, Ningbo, Shanghai and Dalian. In each of these ports, you will find different courier companies such as DHL and EMS ready to deliver your products. You can liaise with your supplier to drop goods at the nearest port city for the delivery company to pick them up.
When importing goods from China, there are a couple of don’ts you have to adhere to. First, don’t buy products in bulk until you have physically inspected them. If a supplier tells you, they can’t ship samples, that is little crap, avoid such suppliers like the plague. Do not pay for goods using your ATM card. Instead, use PayPal at least for a couple of months until you establish a rapport with the supplier.