Where to Find a Wholesale Supplier: Part 3 – Importing

importing

In the third and final article in this series I want to look at another way to find a relaible and safe wholesale supplier for your new online business. I want to look at the process of importing.

I have saved this particular method until last as I think it’s the more complicated of the three mothods and if you are totally new to buying and selling online I would advise that you try one of the previous two methods first to get some experience before importing.

There are three main parts to the selling of products, first is the maunfactuerer then they sell in bulk to a wholesaler and they then sell in smaller quantities to a retailer show sells the individual items.

Essentially Importing involves going direct to the manufacture and buying your stock at source and arranging for it to be shipped over to your home country for sale.
This cut’s out the middle man and allows you to keep more of the profits for yourself thus making more money per sale.

The rewards are obvious, you can quite often double your profit margin this way which also means you can afford to carry a bigger range of stock which could help you sell more too.

There are of course the drawbacks,  firstly you are responsible for the transaction and you need tro make sure that whatever you bring into the country meets with  the minumum saftey standards in your country and in the case of the UK carries a vailid certificate of conformity. This means that the products have been inspected and tested as being safe and fit for sale in the UK. The US and north Americn trules may be a little different so it’s important to check this out first.

Another drawback is that the best countries to buy cheap and well made products to re sell are also the same places that have a large number of unscrupulous characters that will try to part you from your money in any way they can, either by agreeing a deal and then disappearing, or selling you fake items being passed of as the real thing, so you need to be on your guard and make some thorough checks to be as sure as you can that the contact is for real and a legitimate company.

You can ask for references, search Google for the company name to see if there any good or bad reviews of the company, try to find out as much as you can, if they are an honest manufactuerer they will have a large liost of happy customers from all over the world so they should be happy to provide contact details of a few from your contry to speak to.

If they make excuses whenever you try to check them out you need to ask yourself why and if in doubt move on.

All in all Importation is the pinnacle of stock sourcing and if you want to get serious about you business it’s a logical setp, but if you are just getting strated I was advise you find you feet in the business first, make sure you have a good market for your chosen products and then when you are sure you can sell a good quantity of stock you can look into sourcing it direct.

If you have had any experiences with importing before why not share your experiences and advice below in the comments box or even make a post on the forum.
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British wholesale directory of trade suppliers, importers, wholesalers and manufacturers supplying wholesale products to traders.