Importing and sourcing products and apparel from China is fast becoming a successful business tactic. China has invested heavily in its manufacturing technology and now accounts for the major portion of global consumer products.
Most businesses prefer importing from China rather than manufacturing on their own since it is more economical and hassle-free. But, it is not as easy as it looks. If your importing process is unplanned and unmonitored, your profits can be erased in a flash.
Here are some of the tips you need to know before you start sourcing and shipping your products from China.
1. Selecting the Right Product
It is very crucial to identify, choose and select the right product for your business. If you are a beginner and just beginning t start a new business, then you need to find the right product for reselling.
I suggest choosing a product which has a high resale value, which is unique and not easily available in your country. You will have to do a lot of research on the product you are selecting. Gather as much information as you can, do extensive market research, and obtain product samples.
Tip: Rather than selecting the newest trend or the cheapest products available, it is better to choose products that you are passionate about, or which have a high USP. Don’t look for the perfect product, because if you can’t find that, you won’t ever get started. Choose your product and make it perfect by overcoming all the challenges.
2. Knowing your Import Rights
Once you have decided to buy your product from outside your country, you will be the importer. Every country has certain rules and regulations regarding the importing o products, you will need to know them and identify your rights as an importer.
If you are from the U.S., your Social Security Number or your company’s Internal Revenue Service Number will be enough for importing goods. But for other countries, you will require other documents as well.
Tip: Final call on the imports is made by the Customs department of your country. Make sure you adhere to all the guidelines.
3. Calculating the Cost
The ultimate goal of doing any business is profit. To determine the gain, you should know the costs and the income.
Thus, you need to chalk-pout all the costs that will be incurred in the process of shipping products from China.
1. Product Samples
When you are importing only small packages such as product samples from China, you should go for a regular post such as Air Parcel, SAL, or Surface Mail and the EMS/China International Express and EUB priority systems. Although, it will be cheaper but also take a much longer time for delivery.
2. Wholesale Products
Express freight which is the international courier is best for importing products from China. It is much more reliable and quicker than regular mail. Generally, express freight is the cheapest mode of shipping products ranging from 5kgs to 500kgs.
You will need to find the cheapest mode of importing your goods from China to your country. Research about the restrictions imposed by your country on the import of products before making a choice. Also, make sure you are always well-prepared before starting your import shipping.
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