China has surpassed the United States as the world’s leading producer of consumer goods in recent years.
The potential to buy and resell Chinese manufactured goods might be extremely profitable for the innovative business owner.
When it comes to importing products or producing components created in China, cost is a big consideration, but you need do your homework beforehand.
Importing is a time-consuming operation that necessitates careful planning and the development of strong relationships.
Failure to plan can result in delays, missed deadlines, and a loss of revenue.
1. Recognize Your Rights
To become a goods importer, you must first determine whether you have the legal authority to import a specific item.
Certain items may be subject to restrictions in the nation of landing for your exported Chinese goods, therefore it’s important to know what they are.
China has its own set of rules, such as prohibiting the export of fake designer clothing and handbags, as well as animal by-products.
To avoid any legal complications, become familiar with the import/export rules of both China and your own nation.
The following are typically prohibited Chinese exports that should be avoided:
Meat, poultry, and animal by-products are all examples of animal by-products.
Seeds, Vegetables and fruits.
2. Determine which products you want to import
Selling things is how a trade company makes money. You’ll waste time and money if you choose the wrong products. If you want to be a successful importer, the first step is to select the appropriate goods to resell.
If you’re going to put your name on something, it has to stand up to scrutiny, so select something you can be proud of selling. Your company is defined by its products. It’s all about you and your products!
The first important factor to examine is whether or not you can sell the goods. In most circumstances, it’s best to choose things that you’d buy or at the very least have a good understanding of.
Make sure you’ve done your homework and that the things you’re selling have a market or niche.
If you are still confused on what to import, join our mailing list. We frequently send emails on hot products that can sell.
3. Calculate and Know the landed cost of your items
It’s vital to obtain the landing cost as soon as possible; no one wants to lose clients (due to overestimation of costs) or earnings (estimating costs too low).
If it turns out to be higher than you expected, you can try to find ways to cut costs. You can go ahead and start the process if it fits within your budget.
It’s possible that you won’t know the actual cost of something until your shipment comes. You must estimate your costs as precisely as possible in these situations.
To obtain an idea of how much you’ll have to pay, seek estimates from the companies you work with and look at expenses from prior shipments.
4. Locate your Chinese provider and place an order
Place your order with the vendor, carrier, or exporter, and specify the shipping terms.
Request a P/I (Proforma Invoice or Quote Sheet) for your upcoming purchases, which should include the harmonized system number, description, and value per item. The weight and packaged dimensions, as well as the purchase term, must be shown on your P/I.
A proforma invoice is a type of invoice that is used to estimate the cost of a project. It’s a non-binding document that will assist you in budgeting for future purchases. It’s not a purchase order, and it’s not a legal contract.
5. Make arrangements for the transportation of your cargo
Container fees, packaging, terminal handling, and broker fees are just a few of the costs connected with transporting products.
Each of these aspects should be considered in order to gain a clear picture of shipping costs.
Once you’ve approved the freight price, you’ll need to email us or forwarder the contact information for your supplier. We’ll proceed from there.
We’ll maintain in continuous contact with you and your supplier to ensure that your shipment is delivered quickly and safely.
If you want all of these handled by real experts, reach us.
6. Track your shipment and prepare for its arrival
It takes time to ship items internationally.
For example, it takes 14 days on average for items delivered from China to reach the West Coast of the United States, and 30 days to reach the East Coast.
The consignee is usually alerted by the destination agency designated on the B/L via an arrival notification within 5 days or fewer of port arrival.
When a shipment arrives in the United States, the importer of record (that is, the owner, purchaser, or licensed customs broker designated by the owner, purchaser, or consignee) files entry documentation with the port director at the goods’ port of entry.
7. Obtain Your Shipment
Make arrangements for your customs broker to clear the goods through customs when they arrive (and quarantine if applicable).
You have the right to pick up your shipment if all goes properly.
You can just wait for your package to arrive at your selected address if you choose our to-door service.
Once you’ve received your items and checked the quality, packing, instructions, and labels, write an email to your supplier to let them know you’ve received them but haven’t yet reviewed them.
Tell them you’ll get back to them when you’ve reviewed the things and, hopefully, placed another purchase with them.
Summary
The only way to succeed in business is to put what you’ve learned into practice.
If you follow these guidelines and do your homework, you may reap the benefits of importing from China.
A big step forward necessitates a lot of effort.
When you’re just starting off, it’s easy to become absolutely overwhelmed by the prospect of preparing your empire’s entire future.
The majority of people become fixated on minor details. Instead, you must get up every day and take the next modest step toward realizing your dream.
Make no apologies for making blunders. Making mistakes teaches you how to avoid them in the future, allowing you to earn even more money.
Entrepreneurship entails making mistakes. Learn from others’ mistakes as well as your own!