As Promised, Steps On Finding Products and Selling. Critiques Welcome

[AlterJoule]

That would be awesome!

I used the template you posted (with a few minor changes) and I still have not received a response from the manufacturer (it has been 3 days). Im going to fix one up and see what you think of it.

When it's done let me know here and then I'll contact you so we can go over it.

 

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[SeanyHang]

I have some drawbacks firstly the product is electrical and a well known brand

I'm not sure if you already put in your order.. but if you haven't then DON'T!! 9 times out of 10 any branded product you find on these sites are counterfeit and (usually) bad quality. The name of the game is to find generic goods. If you want you can go as far as private labeling them.

 

[GravyBoat]

What do you think of western union? A lot of companies are requesting payments through this.

Tried to send over 1k with Western Union, instantly got flagged. I called those bastards, there was no way they would let me through. Even tried again and the same thing happened. Needless to say my blood was boiling, but just a reminder that you will most likely get flagged for anything over 1k... not sure why because I have used Western Union before several times, it's not like it was my first time using it. Ended up doing a wire transfer instead for a fee on BOTH sides, since each bank involved wants a piece of it. Thankfully I figured this out before hand, otherwise your seller won't get the amount that they requested, because of fees. So you will end up paying TWICE, fees included.

Don't get stung by this.

 

[theag]

Ended up doing a wire transfer instead for a fee on BOTH sides, since each bank involved wants a piece of it.

This keeps popping up in my facebooks ads. Maybe its a solution?

https://transferwise.com/

Much cheaper than wires (supposedly saves 90%). Havent tried it though, because all my business is done nationally right now.

Edit: seems like china isnt on the list of countries

 

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[tafy]

I would use paypal and offer them a few extra % so they will take it.

 

[GravyBoat]

This keeps popping up in my facebooks ads. Maybe its a solution?

https://transferwise.com/

Much cheaper than wires (supposedly saves 90%). Havent tried it though, because all my business is done nationally right now.

Edit: seems like china isnt on the list of countries

I will check with my Peruvian suppliers on this. The tech in South America (for the most part) is so lagging that I doubt they've heard of it, but doesn't mean we can't try! Western Union has been around for ages and they all "trust" it, can't say the same for me! Thanks for the link!

 

[stockyal]

@SeanyHang i didn't place the order in the end and it was for your reasons really . I also wandered that if it was this easy for me to find ( a total beginner) why hasn't the main sellers caught up on this type of deal and If they had how have they managed to cap the price so high without a huge amount of competition from other sellers lowering the price to making a more realistic 20% profit . Plus the fact that I google mapped the address of the "supplier" and it just didn't tie in as it brought me to some random hut thing . Haha

 

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[brandonrush]

Thanks for this! I've lost money in the past with importing, but I've realized my mistakes. This thread will help with my importing journey.

Care to share? Sharing mistakes is just as, if not more, important as sharing the wins. I'm sure you'll help a lot of readers who are just getting started.

 

[Twista]

Care to share? Sharing mistakes is just as, if not more, important as sharing the wins. I'm sure you'll help a lot of readers who are just getting started.

This was my first time importing, but back in July I started off buying in low quantities and the shipping costs caused me not to gain any profit. Now, I'm just selling things that are around the house to pay on bills and get started back in importing. Btw, if a manu says they want a high MOQ (like 3000+) you CAN talk them down.

 

[Jerbear1212]

Great info, much appreciated. Been doing retail arbitrage and heading to Vegas next week to meet suppliers. importing is a goal for 2015. Love the spirit of helping one another out in this forum and will share my experiences as I go along as well.

 

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[CPisHere]

Awesome thread.

I've paid international suppliers via Paypal but had to eat the transaction cost in order to do so. However, it was worth the piece of mind that the company couldn't just take my money and run as easily as with a Western Union, etc.

We are constantly having issues with our credit cards letting international purchases go through - they flag every single one. Surely there is some better option?

What if you already had an existing customer base and were looking to sell more to those specific people - how would your process change?

 

[PTP]

Can we get an update?