Learn a Few Tips for Import from China to Increase Your Profitability
China has over the last few years emerged as a country to produce all types of industrial as well as consumable goods.
Businesses all over the world can increase their profit margin by importing their products from this country, simply because Chinese companies can offer all those at a very affordable cost.
The quality of “Made in China” products was a concern a few years back, however, China has been successful to remove that bad reputation and now you can find their products that can match international quality.
With all these facts, various entrepreneurs and enterprises have now got a golden opportunity to grow their businesses. Therefore, in this post, let us share a few tips for import from China.
- Investigate all the rules and regulations
You must learn about the rules you must follow before importing a particular goods.
The kind of product you are importing will determine how many regulations there are. This is a need for every import, especially those from country like China.
- Select your product
To earn a good profit, the products that you select should have:
- Consistent and sufficient demand
- Profit margins of a minimum of 30% to 50%
- Reliability (there should be a low probability for warranty cases)
- Minimal maintenance demands during transportation, warehousing, and/or storage (i.e., no need for climate control or specific handling requirements)
- No laws restricting them to sell in your country.
- Choose Chinese suppliers having good reputation
Among the various tips for import from China this one is very important for two main reasons.
- First, you must be very sure that the product you are importing is legitimate as you will be entirely responsible for the products
- Second, if you have not purchased from a reputed supplier then issues like false or incorrect certification, may often arise at customs.
- While importing from China sign a firm contract
It is equally crucial to create a sales agreement that spells out every detail after you have thoroughly investigated all the certifications your product requires and identified a reliable supplier who complies with them.
- Always get a sample first
It is extremely important that you must obtain a sample of the product first and then check it at your place thoroughly. Never place your order until you are fully satisfied with the sample.
- Choose the international transport means
If the supplier lacks an export license, it can often be exploited. Finding a middle company to handle the export in these circumstances is important, which may often complicate the procedure and increases risk.
- Consider transit times for shippers and customs
Time is an important consideration for a successful campaign when importing from China. It is advisable to schedule a transport from or to China at least three months in advance.
- Remember the GRI
This could be crucial if you want to minimize the expense of your international maritime shipment.
This is particularly true if you are importing from China. Shippers apply increases in freight rates known as the GRI at the beginning of each month.
Among the important tips for import from China, it is crucial to take the time to conduct thorough research and choose the ideal products for your company when importing goods from China.
To make an informed choice, keep in mind your objectives and target market when examining trends and demand.
To assure product quality, don’t forget to ask for samples, and think about engaging a third-party inspection agency to make sure.
Look for references and testimonials from previous customers to identify dependable vendors, and don’t forget to validate their legitimacy with appropriate paperwork.