The Secrets of Importing Wholesale Products
The Secrets of Importing Wholesale Products
Supply and demand are always part of business. You make a profit and at the same time provide items with higher demands but the supplies are not enough. On the other hand, you make sure that customers will pay those premium prices just to own the products they desire. This is already proven. Yet, some people believe in the possibility of selling ice to Eskimos as long as appropriate strategies are being used up.
But you shouldn't believe it! It is not possible to coming up with a demand from nothing if you do not have a good marketing team right beside you.
Importing is for everyone
If importing is a new endeavor and you're afraid of trying it because some people say it's risky and complicated, then you shouldn't worry too much because:
Learning the ways to import goods as well as creating the profits you desire can be easily done.
Learning the secrets of finding overseas suppliers and manufacturers, importing goods and as well as trading them.
Importation of goods can be done comfortably at home.
Importing may not be as complicated as you think it is. Just do your research and learn from your mistakes. You may have the world's best advices but time will always come that you wish you should have done something in your own way!
Ways of finding high demand products
One way to find products with high demands is to look for a product that's unusual in your country and has higher demands. Or you can also opt for a product that you can find in your place and is enormously famous. However, these products can be sourced from overseas and can be offered at lower prices in eBay.
Another way is to become increasingly aware of upcoming trends and niche markets. However, you need to keep in mind that popularity doesn't always mean eBay's top 10 searches. Thus, popularity doesn't always pertain to iPods, digital cameras, mobile phones and designer handbags. Popularity does not include the number of times has been visited in an hour.
The truth is, you only need a fairly popular item to make profit online. If it has the possibility of selling 50 100 per day, then you'll be making money. Now, here's a good example. Thousands of people all over the world spend millions for stamp collections and golf. But these are not in eBay's Top 10 searches!
In sum, you should be focusing on niche markets. To know what booms in the type of market, look into newspaper headlines, magazine topics and new product releases. Articles on smokers wanting to quit their smoking habits, trendy clothes, and new technologies of gold swings are all useful and are deemed to give you the profit you deserve.
You can also find practical market information on eBay's eBay Pulse as well as the Seller Central area. You can check on these sites and see for yourself which categories are doing great online. You can also try looking at the number of items in each category and work on ones with good sales and low product numbers. Hit off on Search on the eBay homepage while leaving the keyword area blank and All Categories selected. By doing so, you can already see the listings for each category. Click on a category and then to the left in the yellow box, you'll get to see the numbers for the subcategories.
Classes of Goods to Import
At the start, it's good to select goods that are lighter and smaller since freight will really cost you a lot. Remember that the REAL costs of these items include the freight as well. You will really be smiling when you see an item promoted for $1 each in China. However, if freight costs $10 per item, you will actually be paying $11 for each item. In turn, your idea becomes impractical thereby making you start a new one.
Designer Goods are Not Good at All
Designer goods will do you no good at all. Frankly saying, almost all designer-promoted-goods manufactured in China are phony. As a matter of fact, designers always ensure that their products are made of outstanding quality. To do this, they have their goods made in Italy or France while left-over goods are disposed off instead of having it sold at wholesale prices. If you do sell bogus designer products, you'll be incurring heavier penalties and worse, jail sentences. The bad side is these products are mostly over-subscribed. Besides, designer goods will not make you profitable if you don't have direct contacts in the industry at all. You can make more money by trading in less expensive and unbranded products instead.
Quickie Steps to Importing
Here are the quickie steps to importing products and selling it on eBay or any other place which you prefer:
1. Conduct a market research. You need to ensure that the goods you are importing will really sell and will not make you lose profit at all.
2. Look for suppliers. In finding Chinese suppliers, the Internet can be both a disadvantage and an advantage. There are lots of outstanding Chinese suppliers and at the same time, bogus sites are also rampant. When you've already found an authentic supplier, take time to handle them with care. Contact the supplier and ask for their samples.
3. Make an order. Sort out the freight costs and have those paid up. Contact a customs broker so you can actually fill up the accurate forms.
4. Receive the goods properly. Pay up the customs fee. Among these four quickie steps, the first two are significant. Research is tedious and annoying. But you can't also make money if you don't do it at all. If importing is your part-time job, then you need to research first before doing anything. But if you can devote more time, research will take a lesser time.
If you would like free access to a video training series on
importing from china then check out
http://www.ChinaImportFormula.com.au
Brendan Elias and Alex Ryan have been teaching business owners
how to start their own importing business from scratch, and
import goods without the headache or hassle.
Brendan has been featured in the Sydney Morning Herald, Live
National TV on the Kerrie Ann Show, Financial Review and many
more.
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