A step-by-step guide on how to start a profitable importation business from China, with a focus on the little-known strategies that can make all the difference between success and failure. Includes interviews with real companies that have succeeded in their own importation endeavors, as well as expert advice from those who are in the trenches every day. A must-read for any entrepreneur interested in importing from China or anywhere else in the world!
A Business insight. It’s important that you actually have an idea of what you want to sell. The internet is full of opportunities, but if your product does not provide value, or stands out from other products in your market, then it likely won’t be profitable. Your research should include studying demand and competition. Have confidence in your product – but don’t be afraid to look at alternatives.
Beijing And if you get into China, you will face lots of problems with bureaucracy and slow procedures. There is no way around it, but the experience will make it less painful. He who laughs last laughs best as they say in Russian. This Chinese custom should not be forgotten when doing business here. So maybe now it’s a good time to laugh?
formalize your idea with a plan. If you’re serious about starting an import-export business, get into as much research as possible. Making sure you’re in it for both love and money is essential—and not every entrepreneur who starts out importing products makes it their life’s work. Just be sure you know what kind of commitment you’re getting into before diving in headfirst!
packaging. Without a name, you don’t have anything—but with just about any name, you can launch your brand in China. Once you’ve found an appropriate name and registered it in your home country, it’s time to get creative with packaging.
Address common objections. This is an optional part of your pitch but it can also be helpful. If there are some doubts about your idea, address them in advance. The easiest way to do that is by asking your advisors what they might ask you and writing their questions down on paper before answering them in your pitch. Here’s one example: Write down all of those questions (even though you probably already know most of them) and then answer them by addressing each objection head-on.
following your plan religiously. remember that plans are worthless, but planning is everything. if you follow your plan, then when trouble comes (and it will) you will already have a course of action laid out for yourself and you can continue moving in that direction.
business insight, how to find suppliers, importers, and sellers in china, which exporter and dealers in China would be good for your business. Hongkong business brokers or agents, ( factors ) should be paid attention to when you search for business information suppliers of China. The factor may not high price but we have low quality and poor service.
Eighth step – shipping & logistics
what’s in a shipping container? When shipping goods internationally, it’s important to ensure they arrive at their destination in pristine condition. And if you’re trying to jump-start an import/export business and getting your goods shipped overseas, it makes sense to be familiar with all facets of international shipping.
Ninth step – payment, packing
After making sure everything’s ready, you will be given payment instructions. Pay all attention to detail while you are paying, as wrong amounts can delay shipping.
Sometime after passing your final exam, an international shipping company representative will call you up and ask you which port would be best for your shipment. You should feel comfortable answering that question because there are two ports that most small businesses use: Pusan (Busan) in South Korea and Shanghai in China. In either case, make sure you do a thorough web search about what each city has to offer.
Tenth step – order management, inventory management
Once you’ve decided on the best tactics and strategy leadership method for your product and have an ideal manufacturing partner in place, it’s time to set up your order process. Ideally, you’ll be able to work with your manufacturer or broker on an EOM (end of the month) billing schedule. This means that at the end of each month, you will have an accurate count of how many units have been produced for you by your supplier.
The ability to accurately forecast demand is critical in starting and running a successful importation business. For me, one of my most important insights as an entrepreneur has been that I can’t rely on sales and revenue figures to determine how much product I need. When you start an importation business, especially when you’re trading with China, you’re simply never going to know how many units of product will sell within your market.