Importing Goods From China - Things To Consider For Aspiring Import Export Businessmen

Perhaps you've wandered into a luggage outlet in a nearby shopping mall and thought about where they get their stuff. Or, you shop on-line for a portable air conditioner and see many sites with impressive product lines, and you think "how do they acquire these items, and how much money are these guys making?" Chances are good that the sellers got their goods from China at a very cheap cost and are making a decent profit on each unit sold. If you know how to import goods from China, you are one step beyond your competitors.

Several imported items like cell phone batteries can be sold in the U.S. for roughly five times the cost, while more expensive items like plasma TVs will get about a 10-15% profit margin. If you have a retail business going or plan to establish one, you must consider the opportunities found in China. Whether it's the right move or not is determined by the product(s) you want to sell and your stomach for dealing with a foreign entity.

The first thing to consider before you decide to import goods from China is whether there are more cost-effective alternatives to getting your merchandise. Keep in mind that there are manufacturing operations for many types of products right here in the U.S. The strengths are clear: no language barriers, legal protection, great infrastructure for shipping, and so forth. The big weakness is the comparatively high cost of labor/ manufacturing, which will force you to sell your US made product at a higher cost. Not a good thing considering all the Wal-Marts of the world. Retail is a cut-throat industry - you need to be price competitive, or you better sell a distinct item with a small number of competitors (a very rare situation, indeed). So, the savings in money and time from importing should be significant enough to make it worth the effort. At a minimum, you must be able to measure, with a high degree of confidence, that you can benefit from importing a certain good from China before proceeding.

Before you commence an import export venture, understand that there are potential pitfalls associated with importing goods from China that you need to avoid, such as the chance of mis-communication with the producer; running into a questionable company who has a per unit price that is too good to be true; as well as issues dealing with quotas, taxes, other import restrictions. Most people start by working with an import-export consultant, but this cuts into profits. As you become more familiar with the inner activities of importing, and depending on what you import, you will in the end need to consult legal and tax-related regulations to ensure all bases are paid.

Doing business in China, an unfamiliar country for most people, can be very intimidating. But, if you want to gain a competitive edge, you will need to break out of your comfort zone, and China presents a very good opportunity for you if you want to engage in retail business. The Golden Rule that trumps everything and that must direct any business relationship is logical thinking: Chinese and American cultures are different in many ways. Don't assume that things are done the same way in China as they are here in the U.S.; this can cost you time and money.

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