Importing products wholesale from China is a brilliant way to catapult your profit margins. Thanks to the immense plaudits that the nation has accomplished as being the default supplier and ‘World’s factory’ because of its low cost of labor and high production.
China is the manufacturer of a whole range of products, and the key to a successful entrepreneurial venture as a middleman or importer is to know what to look out for and how to navigate the business.
Even if you are a newbie with intimidated thoughts about risk factors, knowing what you need, what things to avoid and the right place to look, can help you make a killing in profit out of buying wholesale goods at low rates from China.
Step 1: Choose the Right Product-
The very basis of making profit out of import is to pick out a product which is in high demand in your country and will sell in huge quantities.
In order to understand this you will need to make a market survey of which products have a scarcity in your native country or which products are the ones that have popular demand.
It is better to go for goods which are lighter and smaller since freight charges need to be calculated as well in your buying cost and it surely adds on to much more than the actual cost of the product. It is also advisable to stave off designer items which might not sell like hotcakes given their original counterparts made in Italy and France. You can make bigger money by importing cheaper goods such as inexpensive furniture and unbranded textiles which will get you hefty profits.
Step 2: Shortlist Suppliers-
China is brimming with manufacturing companies and it is perfectly possible to become the butt of a fraudulent supplier if you do not know where to look for trustworthy ones.
Since there is no dearth of trading companies in China the best place to undergo a preliminary research on suppliers of your niche product is the Internet which offers directories on global suppliers.
However, if you can afford to make a business trip to the country it is worthwhile to visit the trade-shows like the Canton Fair which gives you the opportunity to come in contact with a large number of suppliers of various products under one roof.
In order to authenticate the supplier go through the company reviews, the customer testimonials, check out artisan expertise and experience, ask for a sample, see if they are open to customize according to your instruction and whether they comply to high standards of quality.
Step 3: Enlighten Yourself with the Laws of Import
Even if you have had quite a smooth journey finding the supplier for your wholesale goods, importing them may be a complicated challenge. It is important to know the import laws of the land, the licensing and taxation requirements, custom processes and whether you need a letter of credit from your bank to be able to trade with China.
Step 4: Inspection of Cargo
Even before you set off to arrange for the final shipment of your goods it is worthwhile to hire an inspection company which will supervise the goods even when they are being manufactured so as to correct them at the earliest instance, in case of any flaws.
Even though you might hesitate spending a few dollars, in actuality hiring an inspection company relieves you of the worry of getting faulty or inferior products. The companies employ professionals to inspect the whole process from manufacturing and packing to loading and shipment to ensure that the right merchandise is being shipped.
Step 5: Shipping
Importing goods in wholesale from China can be done through any of the shipping methods, namely, through China Post, Air Freight, Courier or Sea Freight. Hiring a shipping agent can make things much easier by taking into account everything from customs clearance, warehousing, unloading and delivery at your doorstep.
If you are feeling queasy about the whole process of importing wholesale goods from China, Guangzhou HK Trader Group can come to your aid to make your import issues a cakewalk, handling everything from finding suppliers to shipment and final delivery.
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