If you are an importer of products that you are looking to wholesale, there is a lot of research and preparation that must be performed in order to make sure that the venture is a success.
It is not as simple as taking a flight to China, find a product that is new and innovative and then returning home with a marketing budget and a lot of optimism. The reality is that optimism does not constitute a business plan, in fact, it almost certainly constitutes a failure. Success is all about planning and preparation and if you are looking to take a product to market you need to ensure that you have done your research properly and covered all your bases. If this is the route that you are on, then here are a few things to consider. Good luck.
Presentation is everything
No matter what the product is that you are selling it needs to be properly presentable. A simple toy might bring a lot of joy to a child, but it will be nothing but a nuisance to a retailer if it isn’t supplied appropriately.
To this end you would need to find a supplier of toy packaging boxes to make sure that the item you have to sell works in a retail environment. There are plenty of companies that specialise in packaging but do your research to ensure that you end up partnering with a company who can offer solutions that are cost-effective, eco-friendly and aesthetically pleasing, all at the same time. It might be harder than you think.
Reliable supply lines
If you are importing your products you need to ensure that the supply line is excellent. There is nothing more frustrating than losing out on orders because of glitches in the supply chain. Many retailers will cancel entire orders if you are not able to deliver on time, which could end up very costly as when the merchandise eventually arrives you have a whole lot of stock with nobody willing to take it.
Probably the biggest key to success in the import business is a reliable partner for the shipping of the goods. It is the one area where you cannot afford to cut corners on costs.
Do your research
Whatever it is that you are looking to sell, make sure that you have done your research. It is great to find products that you are passionate about, but it is even better to find products that lots of other people passionate about as well.
In short, it is easier to supply a product where research indicates that there is an existing demand, than to try and create a demand for a product that is completely unproven.
It is not to say that the latter route won’t be successful, but it is a whole lot less nerve wracking shelling out your hard-earned capital to purchase inventory that has proven itself in other markets already. Take time to business research international trends and local needs and don’t just rush in until you have covered your bases.