China has established itself as the world’s leading goods manufacturer and exporter and many companies are sourcing their products from this country. However, as a small business or a startup, sourcing products from China could be overwhelming and daunting.
Sourcing suitable products from reliable suppliers is an important step that helps to maintain a reasonable margin to optimize your profitability. When importing there are several things you must consider. If you are considering importing from China, read our top 5 tips to help you get started.
Plan Your Objectives
It’s a good idea to be clear about what you are looking for before importing from China. You might be looking for a cheaper source of supplies, or importing products that are not yet available in your country. Besides, importing should fit in with your overall business strategy.
Focus on Finding the Right Supplier
Google, Bing, and Yahoo seem like logical places to find Chinese suppliers. However, aside from the language barrier, if you don’t have enough experience, the risk of wasting time and money is high. Keep in mind that you need to evaluate and verify your supplier. You can ask the factory for its audited accounts, check its VAT invoice, check the factory’s Chinese credentials, and so on.
Hire A Sourcing Agent
Sourcing products from China can be a tedious task. In this case, you can choose to hire a sourcing agent to help you out. A China sourcing agent can not only help identify reliable suppliers but also handle everything: requesting quotes, finalizing a supplier, drawing up payment terms, asking for sample runs, and so on.
Like QTC, the company has experience in sourcing and manufacturing a wide range of products. Most of its team members have over 10 years of experience in the industry. QTC provides many professional manufacturing suggestions to clients for free and handles from the raw material to final products. Its IPQC system will make sure every product is in good condition and the company always believes “Every customer deserves a high-quality product.”
Order Product Samples
Many importers make the mistake of not ordering product samples. They assume that providing a sample, a picture, or drawing is enough, and the factory will manufacture the product that they are expecting. Ordering and receiving samples can be a long process, but if you want your full order to be high quality, sacrificing a little time to check the product samples is necessary.
Reduce Risk by Having A Clear Contract
A clear contract setting out the payment and delivery terms you and your suppliers or sourcing agent have agreed on is an important step to reduce risk. In the contract, it is necessary to use International Commercial Terms to avoid delivery problems or misunderstandings.