Here are some tips so that you can start importing products successfully:
- Locate several suppliers either via online resources or by contacting localized Trade Commissions in the respective countries
- Contact suppliers and figure out if they are in a position to deliver the right products. Make sure that the suppliers are not your direct competitors. Many foreign suppliers are actively selling on eBay!
- If the price is right and so is the product then it is important to give them either an exact product you are looking for. Without a prototype you might end up getting something far different than you originally expected.
- Work out things like cost- Which include buying costs, packaging, shipping, insurance, customs duty, excise duty, financing and handling charges, etc. There are also other charges that may incur depending on the products and countries.
- Check with a logistics consultant about shipping and exporting and the rules of that given country.
- Contact a customs broker to verify the latest duty and other regulations regarding importing.
- Don’t forget the product life cycle, shipping time, seasonality and all of the other characteristics for your product