Recently, China is considered one of powerful economies in the world. Many entrepreneurs are turning to this Asian country to find a business dreamland. This is the reason why importing goods is dramatically growing from China. People should learn the characteristics of the Chinese economy as well as learn knowledge of import business to get started in this field. This writing will help you learn 11 effective tips for importing goods from China.
1. Understand The Trade Laws Between Your Country And China
Different countries have their own trade laws and China is no different. You need to understand all the regulations at loggerheads with the custom officials in China and your country. Before ordering for any imports, you need to understand the shipping terms that are available for importing goods from China. Plus, you must also understand the payment terms of the certain supplier you are dealing with. Because the terms usually differ from across suppliers. Why don’t you hire a professional importing company to help you deal with these importing processes?
2. Identify The Importing Items
Many people get excited at the number of importing opportunities available in China. However, do not be overwhelmed by cheap products that you like to import. Firstly, identify the right product that you want to import. It is the product available that would help you get supplier. Be careful to choose products that are on high demand in your country. These would absolutely give you more profit opportunities. Do not just rush into choosing some products without researching on demand and their supply statuses.
3. Identify A Legitimate And Reliable Supplier
It is not hard to identify a good supplier with each product line in mind. There are various product suppliers in China, some of them aren’t reliable who just want to get your money and they maybe are not legitimate suppliers. They manufacture the same products you think they are good and you are looking for but these products actually come with lower quality standards. These suppliers are scammers and you should not rely on them. Now, you can see importing goods from China is so risky. In fact, it is riskier than other countries such as New Zealand, Canada, and India.
There are websites where you can find good suppliers who have been verified to display their products such as madeinchina , alibaba and China Yellow Pages. Why don’t you access to these reliable websites to do business with suppliers there. However, be careful with some of these sites where you cannot verify the suppliers. Plus, you can attend trade fairs and exhibitions in China to find legitimate suppliers and get an opportunity to have a new working relationship with Chinese suppliers as well as foreign partners.
4. Work With An Oversea Trading Company
You will get some challenges of importing goods from Chinese such as culture, language and geographical distance. Therefore, it will be ideal if you work with an overseas trading company who works in China as middleman. This company will help you deal with issues of language, culture, contract and negotiation. The middleman has established relationships with particular manufactures so they can negotiate on your behalf with the reliable manufacturers in China. And you should know that you have to set higher costs of the import products.
5. How To Deal With Shipping Costs
There are some elements you should care about Total Landed Cost (TLC), including the shipped quantities, the size of the product, the shipping distance. If the products are shipped in a large amount of goods, you have to pay high shipping costs. The size of the importing goods decides the costs you have to pay for the shipment. The longer the shipping distance is, the higher costs you have to pay. Besides, you also pay attention to specific items such as perishable goods and inflammable goods.
You need to calculate the TLC of the shipment and look closely at the TLC. Besides the cost of the product, you have to deal with duties and taxes and loss of working capital while shipping.
6. Make A List Of Reliable Exporters
Chinese exporters and suppliers can help you provide your products you want to import with ease. They help you find suppliers by using professional sourcing companies. You can get started at the webiste Made In China. You can find various exporters with various product lists, information and contact details.
Yellow Pages is another website contains listings of importing goods from China while China.cn provides thousands of Chinese products with detailed contact information for each supplier.
Analema International is slso a reliable sourcing company with some services such as quality inspections during manufacturing and before the shipment, identifying suitable suppliers and assistance negotiating with suppliers.
You can check out the completed listings on eBay to know what prices you can sell items for. Why don’t you use eBay auction descriptions to get knowledge on a product? Prices are the main things you get a reliable indicator of demand. You need to click on the side bar menu so that you can see completed listings importing goods from China.
Amazon is another page you can check out all of the different tabs for importing goods from China you want to know. Just click around the categories and drill down to find items you think may not seen by a lot of importers. By drill down the categories you can find out various typically weird items that are eye-catching and you also can compare them against stuff on other websites such as Alibaba or Madeinchina.
Plus, you can use other tools such as mySimon Top Searches, Kaboodle Hot Picks or Shopzilla Top Searches in order to search for items you want to import.
7. Contact The Suppliers On Your List
Once you have the list of exporters, you can decide who is the good one to contact. The following are some questions you can ask your exporter or your reputable supplier to provide you with client references, business licensing information, manufacturing, staffing information, the name and the address of the factory manufacturing the product you want to import, the information associated with the factory working activities, the cost of the product, the quality of the product, the different samples of the product.
8. Negotiate A Business Deal With Your Supplier
As a rule, you will have to make the business deal with Chinese suppliers and this activity is governed by Chinese customs and culture. Therefore, different negotiation tactics and skills are required. You should keep in your mind some tips and techniques when doing business with Chinese suppliers.
Relationship is the focus. Simply, Chinese people do not need to do business with only companies; they can do business with people who are able to work as Merchandisers. The business deal therefore is formed and a new business relationship is created. Chinese exporters won’t jump into a deal until they have already known you and think you are reliable.
Chinese Merchandisers tend to rely on a moral influence rather than the legal factor. This does not mean you can ignore the wise business with a signed contract. You can take action to get a signature on a contract to build a trusting relationship.
Hierarchy is also very important. You should be careful to some gestures such as shaking the hand or calling the first name or the last name because the behavior can affect a Chinese executives’ willingness in any negotiation.
Many Chinese companies hold themselves out as a manufacturer. In fact, they are broker who is sub-contracting your order out to a third party manufacturer. Don’t forget this thing. If you do, you will have no direct control over the production importing schedule and no means of communicating directly with the people who directly manufacture your products. Remembering that saving face is a key aspect of Chinese culture, so you need to inquire of your new business partner.
9. The Products Of Profitable Imports
Here are the top 5 products that help you gain more business profits
China is a great option for you to import smart phones from because this product comes with low prices. This is due to the cost of Chinese labor hiring and cost of materials is lower than other countries. Similarly, you can import technology accessories that go with laptops, phones, gadgets. These items make for wholesales; it is the reason why their prices are cheap. It is also a good idea to import outdoor games, beauty products, and home accessories, gym equipment from China because they are bought in large quantities for very low prices.
10. What You Should Avoid
Importing goods China from gives you many chances to develop your business but it also contains risks.
You should test samples of the product you want to import, but do not buy in bulk. Do not believe in the convince of any supplier. Be careful when pay with PayPal because this payment is so risky. Besides, remember that do not import product that won’t accept Paypal.
11. Pay Attention To The Calendar
Remember that China is a paradise with numerous annual vacations including at least 2 of which (Spring Festival and Golden Week) last a full week. In fact, China has 54 days of holidays. Besides, this country also has Citizens of the Worker. So pay attention to this issue for making your import at the right time, avoiding these week-long holidays. Consequently, you have to plan ahead for these Chinese holidays and book your orders to ensure for importing goods from China conveniently.
I’ve introduced 11 effective tips for importing goods from China. They are must-know tips, an importer need to get through them in order to achieve success in this business.
It’s hoped that my writing will be helpful for you. If you like my post or want to contribute your own idea about the tips for importing goods from China, please leave your comments at the end of the post. I’m happy to see it and reply to you soon.