Importing & Reselling (After some advice)

[foreverforex]

Thanks for taking the time to view my thread.

I took my first steps in July to launching my own company importing and re-selling on NZ trading platforms. Which has been a great learning experience, I will admit. However, now I'm interested in progressing and making it better.

Just after some advice from experienced people. So I will keep a nice and simple format.

* Is there some kind of percentage you should be earning on every sale you make? I've heard 30% is a good mark-up.

* Is shipping a good idea to include in the price and to offer free shipping.

- I've experimented with this and I've noticed since I made shipping an additional cost and made the display price cheaper it has attracted more customers.

* Are bigger earning margins better, if I lower my price I generate slightly more revenue, however it does require almost 2 times the amount of effort to get the products and goods shipped.

* Are custom websites a good idea? Build a reputation, brand, etc?

* Is it worth selling on e-bay even though shipping overseas will be very dear!

* Is a printable catalog a good idea to include with shipped goods?

All advice is well-appreciated, even if it's slightly off-topic. I'm always open to ideas!

Thanks Plenty!

- Luke

 

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[Walter Hay]

Hi Luke,

Not being a marketing expert, I can only offer a little help regarding the sourcing and importing side of your business.

30% is a pathetic margin as far as I am concerned. On my AMA thread I have published an email from one of my book users who started off with less than $300 but his mark up of 300% made it possible for him to get his business profitable. To achieve margins like that you must buy direct from genuine manufacturers. I suggest you at least browse my AMA for ideas in that regard.

Postal charges from NZ and Australia are at least as high as those in Canada and the UK, and that has led many people to start selling in the USA through a fulfillment service. Most seem to favor Amazon's FBA, but there are many others. Might be worth considering.

Walter Hay

 

[foreverforex]

Hi Luke,

Not being a marketing expert, I can only offer a little help regarding the sourcing and importing side of your business.

30% is a pathetic margin as far as I am concerned. On my AMA thread I have published an email from one of my book users who started off with less than $300 but his mark up of 300% made it possible for him to get his business profitable. To achieve margins like that you must buy direct from genuine manufacturers. I suggest you at least browse my AMA for ideas in that regard.

Postal charges from NZ and Australia are at least as high as those in Canada and the UK, and that has led many people to start selling in the USA through a fulfillment service. Most seem to favor Amazon's FBA, but there are many others. Might be worth considering.

Walter Hay

Thanks for the reply Walter.

* You're right, 30% won't quite cut the cake. The bigger the margin the better, as long as it's not too expensive and as long as you're not selling things too cheap.

* Shipping is daylight robbery. That's why for the meantime I've been targeting NZ as it's all local and shipping costs are 10% of the cost to post overseas. I will keep that option in mind though.

Thanks!