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Starting an Import Export Business

If you’re looking to get started in the import export business then congratulations and welcome to the game! We are delighted to be a part of your journey and looking forward to seeing you at one of our live events in the future.

Okay so let’s get started.

There are a few steps involved if you’re starting an import from china business, the first is finding a suitable product to import, finding Chinese manufacturers,negotiating the best price from the factories, conducting sample testing procedures and much more!

Yes there is a bit of work involved but it’s worth it! The import export business is fun, profitable and enables you to travel all around the world doing something you love.

Okay so here are the steps involved when importing from china…

  1. Finding hot products to sell- what should I import form china?

    Okay good question and this is an important step because you can import dud products for very cheap however no one is going to buy dud or out of date products … For example” the slinky”, if you tried to import this now (which you can quite easily) you would have a hard time trying to sell it that’s for sure!

    So I would recommend using sites like alibaba (it has a page on there showing hot products to import).

    Also try eBay pulse, amazon best sellers list, google keyword selector tool.

    These are just a few ways of finding hot product sphere and many more however this is a good starting point.

  2. Find Chinese Factories

    This step is critical. There are many factories out there that either claim to be factories but are either middlemen or scammers and if they are not one of those then they are a factory that produces shoddy products.

    In saying that there are many factories that want to do business with you and produce high quality products for you and build a long term relationship, these factories account for 90% of total factories with 10% being the “bad apples”.

    So avoid the “scammer factories”. You can do that by:

    1. Arranging an inspection team
    2. Calling the factory
    3. Attaining the factories address and google searching the address
    4. Sample testing
    5. Calling the factories previous customers
    6. Searching for the factory online
    7. Asking forums and sites like aliexpress or alibaba and other online wholesale and importing forums and ask “has anyone ever dealt with XYZ factory- what was your experience?”

    This is a good starting point- there are many other ways of weeding out the bad suppliers that we reveal in our live workshops.

  3. Negotiating with the factory

    The idea of negotiating with Chinese factories is not only to get the best price but also to get the best quality.

    There are 3 elements involved here. You need to get the cheapest price, best quality in the least amount of time. You can have two of these elements but not all three…

    When negotiating here are some tips:

    1. ask for the price as though you are based in the USA
    2. ask for the price in USD dollars and then in Chinese Yuan
    3. don’t be shy and ask for a break down of the individual costs that make up their quote so you can see the material and labour break downs
    4. build a relationship with them (this ensures they look after you and gets you priority service in the future over their other customers)

    Again there are many other ways of negotiating with the suppliers however this is a good place to start if you’re a beginner starting your own import export business from scratch.

    I will be covering the other steps involved to import from china in another post.

    By the way if you’re invested in learning more then please check out our range of products and seminars as a way of furthering your education on the importing business.

 

 
 
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