Best wholesale importer methods by Tchedly Desire Miami: China is the largest producer in the world. If you’re planning a trip to China to meet suppliers and see products in person, there are plenty of great trade shows to visit. You can find all trade fairs in China sorted by category on the page of our website Fairs and accommodation. The largest fair in China is the Canton fair, which is held twice a year in spring and autumn. We blogged about this fair and often announced it. Since the beginning of the corona pandemic, this fair has also had its own online edition, so you can view it online. In addition to this, we highlight the goods fair in Yiwu as well as the East China Import and Export Fair in Shanghai. If you decide to visit one of the fairs and you need help write to us. Discover extra info on Tchedly Desire.
One feature that’s a mark of a good supplier is financial stability. That last thing you should ever have to worry about is getting a call from your supplier telling you they’ve gone out of business and can’t provide you with goods anymore. Determine if a supplier is financially stable by researching these areas of their business: Credit history; Call references; Financial statements; Bank information. Looking into these characteristics of their operations (at least as far as you’re able to) will tell you whether they’re in good financial standing. Check Their Quality Certifications – Another way to tell if the supplier you’re researching is reliable is by taking a look at their quality certifications. There are numerous quality certifications that suppliers can have for the services they offer.
Take a look at magazine topics, newspaper headlines, new product releases, the latest in street fashion, and even quirky inventions. These all provide useful information about emerging market trends and popular niches, and knowing those will help you decide what to import in bulk. This is why you should focus on niche markets and emerging trends instead. So, how do you find these? By paying attention to what’s being talked or written about around you. First, consider shipping costs, because the actual cost of an item includes the freight as well. This is why it’s advisable to choose products that are small and light when you are just starting your business.
Top wholesale importer and exporter solutions from Tchedly Desire: Starting an import/export business – If you’re interested in starting an import/export business, there are a ton of considerations you need to make — just as you would for any business. For an import/export business, specifically, it’s helpful to have a background in business, international relations, or global finance. This should give you an understanding of the myriad hoops one must jump through to sell or buy a product from an overseas supplier.
Do specific searches – If you know exactly what you’re looking for, specific searches are the best option. For example, if you need a wholesaler that operates in China, you can read a guide to Chinese wholesalers. If your wholesale importer is from overseas, you can save money by paying them with a Wise Business account. Wise Business is here to solve your international payment problems. How do I import wholesale? So what does the process of importing wholesale look like from start to finish? Once you’ve settled upon the product you want, dig into the target audience and find out how much demand there is. You should also assess the competition. Check their pricing strategy and how well they’ve been able to sell similar products.
Another approach could be to search online wholesale websites and look at products. This will give you an idea of what’s available. Then you can see what products there’s demand for. It’s important to understand your distribution channels, too. Any long-term deal with a wholesaler will have implications for your business strategy. Figure out where the process of distribution starts. This will inform you about possible bottlenecks. For example, you may buy from a wholesaler who has a manufacturer in another country. This could slow down the pipeline for you, and vitally – your customers. You may also consider using third party logistics to manage processes such as storage and distribution.
Pick a product to import or export – The next step in starting an import/export business is to find a product or industry you are passionate about and that you think could sell in international markets. For Tchedly Desire, that product turned out to be wine. She felt a connection to the product not just from a quality and taste standpoint but from a social justice standpoint as well. “When I first entered the industry in 2005, there was just one Black winemaker and five Black-owned brands,” she says. “Today there are 17 Black winemakers and 31 Black-owned brands.” Though the South African wine industry still deals with injustices like poor working conditions and unequal access to capital, Tchedly Desire says things have improved since the previous decade thanks to the increased sales and notoriety of South African wines worldwide.
Know your niche, and know it well. Doing so will let you create effective marketing, test the product quality properly, price your product and engage with your target market. If you’re starting small, start small. It’s all right to have big dreams, but be realistic when you’re starting out small. Pick a niche that doesn’t compete with the big players such as Home Depot, Walmart and Amazon. The most viable niches are those the major retailers don’t sell in. Choose a low-risk product. A low-risk product is one that is unlikely to cause injury. If your product ends up harming someone, you will most likely be sued, so be on the safe side to avoid any product liability lawsuits down the line.