Hey Import Newbies

So you are ready to throw your life savings into an import venture to make you so much money that you will be richer than Bill Gates. What a brilliant idea. That's why millions others are doing it.

Taking one step back. Do you actually save money by importing yourself rather than buying from a local distributor? Have you actually picked up the phone and ring the local distributor for a price list? For smaller volumes, it's sometimes cheaper to buy from importers. They will sell you smaller volumes, mixed order, give you credit and warranty, sometimes even exchange.

Try doing that with your oversea supplier. He might give you a discount in the next order but he is not likely to take back the container of pink underwear he just sent you.

OK, you insist on going down this rocky road, good on you. Next step, how much should you pay for the products. Always remember, quality comes at a cost, unless you've been ripped off. Generally, the better the quality, the higher the cost. There isn't you can much you can do to change this universal law.

So what you should do is determine the level of quality you want. Should the underwear last 3 months, 6 months, 1 year, 3 years. This is where you have to bunker down, talk to your supplier andtest the product to death to ensure it meets you criteria.

Example:

Batteries in cars. A good battery can last you 5 years easily. Say cost $100, a cheaper one might cost $50 last you 2 years, an even cheaper one cost $20, last you 6 months.

OK, you've done all that. Do you pay what the supplier is asking? Are you sure you haven't been ripped off. The only way to do it is compare price for the same quality item among suppliers. Get a few quotes.

Do you have to go with the cheapest? If one guy is miles lowers than the rest, you have to ask yourself why. This is where you sourcing agent on site will be able to give you advice. Sure you pay that person a few hundred dollars but will save you a lot of heartache.

Greed for lack of a better word, is good but don't be TOO greedy. if you are making a fat profit, then be happy. Don't squeeze your supplier so hard that he goes bankrupt and production stops and you lose your deposit.

So there you go, one more thing to consider when you import.

Note: I said supplier, not manufacturers. Some trading companies may be able to give you a good deal because they buy bulk (get discounts) and sell to buyers. Some will help you with your troubles, while factory doesn't really have to bother with you once the goods leave the factory gates.

Well from these topics newbies should be able to grasp one thing first, that trade is really hard work (so if you want to make money without work trade is not for you). The only difference is that you are not paid for your labour (like a miner or a lumberjack or a cubicleman) but for your readiness to take risk & responsibility for yourself. This is not easier by any extent.


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A meaningful topic for hearty comments from suppliers and importers.

My views are as follows:

1. It is law on better quality cost little higher.  We always say we emphasize quality, however, can anyone deny price is fore into our sight.

    Sure, best choice for importer to choose a chinese factory which have test reports, If not, they still approve factory or trading companies who have cheap price and good samples.

   In the so called hard times, we all want cheap price now.

   Importers who are expert in this field, i think can estimate the cost. they know how much left to factory.

So choose good factory for certain items such as elctronics etc. Good and bigger factory cant offer exaggerated price.

2.   Small nightmare for replies from fresh posting of enquiries.

   If u are serious, and wanna be quick in safe deal, can foreign importer tell us supplier ur dimensions, info about products after frist round of elimination of list.

  I appreciate some reply u even they dont buy from u. Such short reply takes seconds only.

3.  Business involves risks, I hope we all look far, dont cheat each other,

   CHinese factories, do what u promise to our importer.

I appear too wordy, just to release my thoughts out.

Hope for more views of more experienced pals leave comments on forum topics.

Thank you.

Thansks for sharing your wisdoms,

 

It really helps me a lot,form the angle of buyer.

I'm an manufacturer, so I also want to konw the buyer's  consume habit of website and and the buying and selling habits.

Afterall all of  dealers want to decrease the trade risk to earn profit, it's good for both- buyers and suppliers.

 

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Hey Brian,

Customer service is very important. As a supplier, you have to do your up most to service your customers.  I guess this is lacking among young people these days, eerywhere I go is the same. People are so impatient these days.

I spend a lot of time for my customers, and usually don't make any sales, plus I still have to spend money on lunch and transport cost. Yes, doing business is like that.  Takes a long time to gaina  customer.  But once there is trust, things go along a lot quicker.  Orders will startto roll in and money will line your pocket.

Hi newbies,

Very quiet here today, so I might add a bit more here.

It seems every man and his dog thinks that if they import from China, they can make a fortune. Sorry to burst your bubbles. I have been looking in Alibaba and noticed some products are way, way, did I say "way" overpriced.  I mean, I can buy the same item here at a shop front for less.

How is that possible? Well, you get guys like Wal Mart who has such massive buying power that factories will drop their price immensely to get their business. But of course, Wal mart will buy 10 or 20 containers, hence they get very good price.

So are you able to compete with the big boys on price?

Quoting from [jadedev]:

Hey Brian,

Customer service is very important. As a supplier, you have to do your up most to service your customers.  I guess this is lacking among young people these days, eerywhere I go is the same. People are so impatient these days.

I spend a lot of time for my customers, and usually don't make any sales, plus I still have to spend money on lunch and transport cost. Yes, doing business is like that.  Takes a long time to gaina  customer.  But once there is trust, things go along a lot quicker.  Orders will startto roll in and money will line your pocke

I cann't agree with you more, Sir!  Trust is very important. And as a supplier, we should be honest to our customers.

Honesty is a good start. Have to give above average service. Ask the customer what more can you do, if they are happy with your service/products, any concerns

Both importers and suppliers think a lot of price.

As a manufacturer, we low our price at the hard time but still be of less effect. We send our quotation and have little reply. I want to know the reason, but few importers would spend their time to tell us.

Besides price, what factors do buyers attach importance to? I want to know more about this so that I could improve the quality of my job.

Thanks and regards.

For me, if I can get the item at the price I want, the next question would be

a, how fast can you get it to me

b, how much frieght is going to cost

I saw a few posts about delays.  Neither party specified a date, so the buyer assumed it will be ready in 1 day while the supplier assumed the buyer wants it after the New Years holidays. Isn't that a total f-up?

Buyers and suppliers should agree on a delivery date and penalty for late delivery/payments.

I was looking at LCD TV in Alibaba.com this morning, and some of the prices are really way over the top.  I mean, I can walk into a shop here and buy a branded like Samsung or LG, LCD TV with the same specification for less.   That's right, the retail price (which incluses all the local taxes) is less than the factory price.

So newbies, please do your research before you jump in.  The bigger companies like Harvey Norman has more buying power than you.