Importing Products From China - Considerations For Would-Be Importers

Perhaps you've wandered into a suitcase store in a nearby shopping mall and thought about where they get their stuff. Or, you shop on-line for a portable air conditioner and find countless sites with wonderful product lines, and you think "how do they get these products, and how much money are these guys making?" Chances are good that the sellers got their goods from China at a very low price and are getting a nice profit on each unit sold. If you understand how to import goods from China, you are one step ahead of your competitors.

Some imported items like cell phone batteries can be sold in the U.S. for roughly five times the cost, while more expensive items like plasma TVs will get approximately a 10-15% profit margin. If you own a retail business going or are going to establish one, you must explore the opportunities found in China. Whether it's the right move or not relies on the product(s) you want to sell and your stomach for dealing with a foreign entity.

The first thing to consider before you decide to import goods from China is whether there are cheaper alternatives to getting your merchandise. Do not forget that there are manufacturing operations for various products right here in the U.S. The advantages are clear: no language barriers, legal protection, great infrastructure for shipping, and so forth. The big weakness is the comparatively high cost of labor/ manufacturing, which will force you to sell your US made product at a more expensive price. Not a good thing considering all the Wal-Marts in the world. Retail is a cut-throat industry - you need to be price competitive, or you better have a distinct item with a small number of competitors (a very rare situation, indeed). So, the savings in money and time from importing need to be material enough to make it worth the effort. At least, you must be able to measure, with a high degree of certainty, that you can benefit from importing a certain good from China before proceeding.

Before you commence an import export venture, understand that there are potential pitfalls connected with importing goods from China that you should avoid, like the chance of mis-communication with the producer; running into an unscrupulous company who has a per unit price that is too good to be true; as well as issues dealing with quotas, taxes, other import restrictions. Most people begin by working with an import-export adviser, but this cuts into profits. As you are getting familiar with the inner activities of importing, and depending on what you import, you will eventually need to consult legal and tax-related guides to ensure all bases are paid.

Doing business in China, an unfamiliar country for most people, can be very intimidating. However, if you want to gain a competitive edge, you will have to break through your comfort zone, and China has a very good prospect for you if you intend to engage in retail business. The Golden Rule that trumps everything and that must guide any business relationship is logical thinking: Chinese and American cultures are different in many ways. Don't think that things are conducted the same manner in China as they are here in the U.S.; this may cost you time and money.

Importing Products From China - Considerations For Would-Be Importers
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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