These tips are based on many years of importing goods, mainly from China.

1. Check The Legal Requirements

You must check all the rules and regulations applying to the items you wish to import and which taxes and duties will be payable.
I found my shipping company were able to help with this.
You can also contact Customs, or check the internet for relevant information.

2. Check Out Your Potential  Sources

This is not easy – you are dealing with someone you do not know who is a long way away.  You must be cautious about sending money abroad as the person may not have a real company at all.
I suggest asking them for the name of a shipping company they have used to ship goods and also for the names of some of their customers.  Check these contacts out.

3. Ask For Samples

It is always best to ask for samples before you order in bulk.  You do need to check the items are exactly what you are expecting and to check the quality.  You may have to pay the shipping for samples but it is worthwhile.  This also checks if the supplier is genuine to a certain extent.

4. Run Tests First Before Importing Anything

Before you import a lot of an item it is best to try selling the same   item first even if you don’t make much.  Buy from a wholesaler or another seller (negotiate a quantity price from them).

It is better to purchase one of an item and see if it sells, then buy 5 or 10 and make sure they sell too.  You can experiment with price and estimate the volume you can sell.  I normally import about 3 to 6 months stock.  Do not risk being left with 100s of imported ones.

5. Minimise All Your Risks

Place a small order first – my first one was about $1000, and don’t ever risk more than you can afford to lose.
If $1000 seems like too much to risk then go via a wholesaler or other supplier first until you have made enough profit to finance going into importing.

More tips are suplied with my eBook ‘Sourcing Secrets Revealed’

Keith Purkiss

Filed under: Sourcing Products

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