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- Importing Products From China - Considerations For Aspiring Import Export Businessmen
- Positives And Negatives About Importing Merchandise From China: Necessary Recommendations
- Importing Products From China - Considerations For Would-Be Import Export Entrepreneurs
Perhaps you've wandered into a luggage outlet in a local shopping mall and wondered where these people get their stuff. And perhaps, you search on-line for a portable air conditioner and see many sites with impressive product lines, and you think "how do they acquire these items, and how much money are these people making?" Chances are good that the stores got their products from China at an extremely inexpensive cost and are making a decent profit on each unit sold. If you know how to import goods from China, you are one step beyond your competitors.
Certain imported items like cell phone batteries can be sold in the U.S. for approximately five times the cost, whereas more luxury items like plasma TVs will have about a 10-15% profit margin. If you have a retail business going or plan to create one, you must consider the opportunities found in China. Whether it's the right move or not depends on the product(s) you are going to to sell and your stomach for doing business with a foreign entity.
First thing to consider before you make a decision to import goods from China is whether there are cheaper alternatives to getting your merchandise. Keep in mind that there are manufacturing operations for many types of goods right here in the U.S. The strengths are obvious: no language barriers, legal protection, great infrastructure for shipping, etc. The big disadvantage is the fairly high cost of labor/ manufacturing, which will push you to sell your US made product at a higher cost. Not a good thing considering all the Wal-Marts of the world. Retail is a cut-throat industry - you must be price competitive, or you better sell a unique product with few competitors (a very rare situation, indeed). Hence, the benefits in money and time from importing should be significant enough to make it worth the effort. At a minimum, you must be able to determine, with a high degree of confidence, that you stand to benefit from importing a particular good from China before proceeding.
Before you embark on an import export venture, understand that there are possible risks associated with importing goods from China that you need to avoid, such as the chance of mis-communication with the manufacturer; running into a questionable manufacturer who offers a per unit price that is too good to be true; and troubles dealing with quotas, taxes, other import restrictions. A lot of people start by working with an import-export consultant, but this cuts into profits. As you become more familiar with the inner workings of importing, and depending on what you import, you will in the end need to consult legal and tax-related publications to make sure all bases are covered.
Doing business in China, an unfamiliar country for most of us, can be very intimidating. Even so, if you want to gain a competitive edge, you will need to break out of your comfort zone, and China presents a very good opportunity for you if you want to engage in retail business. The Golden Rule that trumps everything and that should steer any business relationship is common sense: Chinese and American societies differ in many ways. Don't assume that things are done the same way in China as they are here in the U.S.; this can cost you time and money.
Importing Merchandise From China - Points To Consider For Aspiring Import Export Entrepreneurs
Perhaps you've wandered into a luggage store in a local shopping mall and wondered where these people get their stuff. Or, you shop on-line for a portable air conditioner and see many sites with impressive product lines, and you think "how do they acquire these products, and how much money are these people making?"
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