AMA - Ask me anything on sourcing/importing from Asia..

[Talisman]

I will hand pick about 5-6 newbies from here and will mentor them to make 0 to 500,000 within 1st year.. All for free. That will be my thank you gift to the forum for helping me out..

Ohh pick me pick me! (But for the 500,000 part, not the 0 part. I've got that one covered )

 

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[lovecharm]

Ohh pick me pick me! (But for the 500,000 part, not the 0 part. I've got that one covered )

Ha ha, soon my friend, soon..

Got some plans that I will need to execute first, when done then will do it..

 

[Katerina]

Pick me tooooo - I'm in the same boat - got the 0 part well and truly under control

 

[Yankee427]

Lovecharm, if you do build a factory or office here in the USA, I suggest a tax friendly state such as South Carolina here, Boeing just moved one of their big factories to South Carolina or at least are attempting to because of new taxes imposed on them in Washington State.

Been reading through this thread, and there is some great info here. Thanks a lot Lovecharm. Been trying to work with wholesalers here in the USA and thinking of trying to source items from Asia so this thread has been a wealth of knowledge.

I have to think of a few questions for later on, but one question I do have is, being a legitimate factory yourself, when first starting out as a retailer dealing with them, what types of things do you notice your competitors doing that would flag them right away as selling knock off merchandise or not too reputable. Do they seem to not want to answer certain very specific questions someone may have or they want to make a quicker deal than you think you are ready for?

 

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[lovecharm]

@ Katerina, dont worry about the 0 part.. Whether you have money or whether you are in debt or not makes no difference. I was in debt at one point, used my credit card to fund my capital.. Yes I was taking risk, but I always had confident in my ability, every hair follicle in my body had the believe that I WILL MAKE IT. Guess what, I made it in the end..

Last 2 hours (I am not proud of it though), instead of doing more research on LA and the wholesale market I was busy looking for Ferrari and Lamborghini to buy in LA and nice apartments to rent or buy (looking at the loan amount and interest rate).. Now, when I will come (depending on my research, it might change if I am not comfortable working in that profit margin, so might go to another city) to LA, I will be in debt as I would be getting the office, house, cars etc.. In other words I will be MINUS whatever the amount it is... Is that putting me off? Is that putting pressure on me? Hell no, because I know I will pay all those off and bulldoze my way to the profit in no time.. There is no if or but about it.. I have to do it, I have to have all those luxury, because thats my IDENTITY, thats who i am... Thats what I do wherever I go..

Tigers don't eat fruits if they can't get meat, they eat meat only and for that they will run fast or do whatever it takes, but they will eat meat only..

So what I am trying to convey is, have faith in yourself and in your ability, never lose that faith no matter what..

Lovecharm, if you do build a factory or office here in the USA, I suggest a tax friendly state such as South Carolina here, Boeing just moved one of their big factories to South Carolina or at least are attempting to because of new taxes imposed on them in Washington State.

Been reading through this thread, and there is some great info here. Thanks a lot Lovecharm. Been trying to work with wholesalers here in the USA and thinking of trying to source items from Asia so this thread has been a wealth of knowledge.

I have to think of a few questions for later on, but one question I do have is, being a legitimate factory yourself, when first starting out as a retailer dealing with them, what types of things do you notice your competitors doing that would flag them right away as selling knock off merchandise or not too reputable. Do they seem to not want to answer certain very specific questions someone may have or they want to make a quicker deal than you think you are ready for?

Yankee,

Didn't quite understand your question to be honest.. Are you asking how to find factories who make genuine branded merchandise?

If that is the question then the honest answer is, you might find the factories, but they can't sell you the branded goods as majority of the brands puts clause in the contract where it says that you can't sell their items outside, if they are damaged then you might sell them, but you will need to take the label off..

So, its pretty impossible to get genuine branded stuff, those who gets them, they are usually damaged items (then later on being repaired outside)... But factories simply can't sell fresh branded goods outside, the brand will take them to court..

LC

 

[brumaire]

Hey phones,

Yeah sure you can PM me and I will try my best to help..

As for mentoring, well I can help, thats a not a problem.. but mind you, I am still trying to solve one piece of a puzzle (online marketing), so slightly tied up on that side..

I have been getting lots of request to mentor people, I would love to do it, but unfortunately I don't have much time by myself right now... As 2 of our companies are getting ready for IPO in Asia, plus day to day office work in our factories, plus learning and implementing online marketing for my site, plus getting many offers from here and joint ventures ideas too..

So as you can see, really gasping for air.. Been putting in 13-16 hours a day lately..

However, I will promise you guys this.. Once I learn and master the online marketing.. then I will do something that no one has ever done before..

I will hand pick about 5-6 newbies from here and will mentor them to make 0 to 500,000 within 1st year.. All for free. That will be my thank you gift to the forum for helping me out..

I am a big believer of Karma, when I opened up this thread, I wasn't expecting anything in return, only did the thread to help people out, but in return I got so much info and tips, I am seriously considering opening up an office in USA now, all because of the things that I have seen in last 4-5 days...

But for now, don't expect too much from me as I am learning couple of things.. however, I will try my best to reply to every one and help as much as I can..

I would do anything for this, this is an opportunity if a life time right there. I have traction with my business, I have a corporation already, experience with alibaba, and I am a quick learner.

What can I do to show you not only would anything you give me in terms of knowledge and time would be gold to me, but that somehow I can repay this massive opportunity???

I'm like in awe your offering this it's a huge opportunity, I have unlimited sweat equity.

 

[brumaire]

Ill read everything I can on Internet marketing, ill give you results

 

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[brumaire]

Give me any Internet marketing task at all, I will devour it in two weeks. I am so hungry for knowledge and opportunity.

 

[Avus]

Wow I would love this opportunity also.

I had a question about sourcing carbon fiber manufacturers. How would I go about doing this? I need to find quality manufacturers who can do intricate work.

 

[Phones]

Lovecharm,

As I have stated before, I'm currently importing using EMS and Express Air. My problem right know is shipping price. I'm only importing small and low weight items because for bigger items like bags or even clothing I will end up paying too much for shipping because of volumetric weight.

On most Express Air, 1cbm = 200Kg, and I think that's just absurd, 1cbm box isn't that big, paying almost 2000$ for Express Air is out of question.

I've asked for quotation for Air Freight and the price per Kg is around 30% less than Express, and 1cbm = 167Kg. Which I still think it's a bit too much. I would pay around 1100$ for a 1cbm box.

Do you know if this is the average Air Freight price or I'm being charged too much?

Do you know any good alternative for shipping medium/big volume items like PU bags (they are solid, hard to "fold") besides Sea Freight?

Thank you,

Phones

 

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[LiveFree]

I've imported products before and sold them on eBay and did very well. However most of the products that I have found that make money are all "branded" and are against eBay policies to sell. So I was a one hit wonder so to say. How do you get around this? Do you just make a similar product with your own brand and then try selling it? Or is it best to import generic products like ladders vs. "Werner Ladders"?

I have been focusing on selling to the consumer and finding products to sell them.

Do you sell directly to the consumer or are you selling to businesses?

And are you focused on a specific product or are you selling the material to make the product.

For example are you importing jeans or the denim that makes the jeans?

How do you find your buyers? If you are selling to businesses aren't you more like a broker of goods?

On a side note, I've made a living as an internet marketer for the last five years. I'm looking to get out of it now and do something different. But if you have any questions about Internet marketing I'd be happy to try and answer them for you.

 

[Eos]

Wow lovecharm you're the man! This thread has compelled me to login in for the first time in a long while .
I know a little about internet marketing and what I dont i can sure figure out or find out. I would love to help you out in any way i can remotely, i have a lot of time on my hands too due to having the summer off uni.
Im not going to waste your time but if I can help you with anything in exchange for some guidance I would jump at the opportunity.

Can i send you a pm

 

[lovecharm]

Guys,

Sorry for the delay.. Last 24 hours has been.. well lets just say lots of life changing decisions are being made..

I am definitely coming to LA.. Already looking for office space plus flat and cars..

Its funny, I started to look in to LA 3 days ago and already getting so many info and helps.. One my dads friend lives in LA and one of his company is listed in NASDAQ, so he told me that he will sit with me to discuss about the tax matter and company formation..

One of our UK sales guy knows a guy in fashion district who wanted to start business but didn't have import back up.. so he is interested to work with me.. Also met a really nice guy from here and there is a possibility that he will work in our company as well..

So yeah.. things has been moving fast..

I will reply every ones PM tomorrow and will reply every one in here as well.. Just need to take breather.. things has been really moving at lightning speed...

LC

 

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[libertad1312]

Hey lovecharm,

I am very interested in this import/export-business as well and have a few questions.

I don't have to order from alibaba, because I am already staying in Bangkok. I see many advantages (bigger and cheaper choice of products, smaller living costs etc.) but one big disadvantage: The shipping from here to my customers overseas takes either much more time or is getting very expensive. To make it easy for the customer I offer free shipping by the cheap local post (cost me around 3-4$ for a women dress) but it usually takes 12-20 days. Do you have any experiences if this is a huge turn off for many potential customers? Do I have to have somebody in each country who will store and forward the stuff for me? I could see this working once I have reached a certain amount of orders, but right now it doesn't make any sense to me.
Also I am confused about the best strategy long-term. I have sold a few dresses to private persons and my first thought was to establish my own brand with the goal to sell stuff by myself for the highest possible price. But I also had a few interests buying from me wholesale or selling from me. I have the feeling that it is pretty hard to do both at the same time, because I don't want to destroy my own market. So what is the best strategy here?

Thanks you very much!

 

[DarkZero]

Thanks for this thread. I have been trying to look into this for months now and have just been totally confused as to how to go about it and not get scammed. Your information is really insightful. I'm currently looking at more and more now, finding suppliers, looking at products, etc. It's a bit overwhelming right now but intriguing at the same time.

When dealing with shipping from the supplier I was always under the impression that shipping is slow especially if you are receiving large quantities. Do you have to factor this in when you need to receive new stock? Do you have to plan for this?

 

[lovecharm]

Guys,

Sorry for being quite for the last 48 hours.. You see working 15-17 hours a day for 3-4 days has finally caught up with me.. So last 2 days my body simply crashed...

Yes, my adrenaline was rushing as I am moving to LA and planning to open up the office.. As a result wasn't even sleeping properly at night (only about 3-4 hours per night), so my body couldn't carry it on..

Got lots of PM's and messages here.. so will reply all of them one by one tomorrow as I am feeling slightly better..

So apology again, I am not ignoring any one, its just my body simply crashed.. Will reply to every one within next 24 -36 hours..

 

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[Phones]

So apology again, I am not ignoring any one, its just my body simply crashed..

You have to get some more rest. That could go deeply wrong if you keep up at that pace. Get some more sleep per day.

 

[lovecharm]

Wow I would love this opportunity also.

I had a question about sourcing carbon fiber manufacturers. How would I go about doing this? I need to find quality manufacturers who can do intricate work.

Hey Avus,

Google and Alibaba will be your best bet for now... Also search for carbon fiber manufacturer and see what comes up.

 

[lovecharm]

Lovecharm,

As I have stated before, I'm currently importing using EMS and Express Air. My problem right know is shipping price. I'm only importing small and low weight items because for bigger items like bags or even clothing I will end up paying too much for shipping because of volumetric weight.

On most Express Air, 1cbm = 200Kg, and I think that's just absurd, 1cbm box isn't that big, paying almost 2000$ for Express Air is out of question.

I've asked for quotation for Air Freight and the price per Kg is around 30% less than Express, and 1cbm = 167Kg. Which I still think it's a bit too much. I would pay around 1100$ for a 1cbm box.

Do you know if this is the average Air Freight price or I'm being charged too much?

Do you know any good alternative for shipping medium/big volume items like PU bags (they are solid, hard to "fold") besides Sea Freight?

Thank you,

Phones

Hey

I can't give you exact prices and figure as I don't know where you buying from and where you are receiving them..

But I can give you some sneaky tricks that we use to send fairly large items (like 8kg+)..

Contact the airlines, specially the cheap ones like Air India, Biman Bangladesh etc.. Obviously you will contact the local airlines from where you are getting the stock from.. Lets say you are getting your parcels from Bangladesh, then you will be looking for cheap local airlines who has flights to your destination..

Those cheap local airlines does air cargo for almost half price compared to ems, fedex, dhl etc..

When we send our samples to our London office from Bangladesh, we send them using Biman Bangladesh air cargo.. The cost per kg is almost half the price of dhl..

Funny enough, the company who sends these using air cargo are also a Dhl agent.. Irony ha..

 

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[lovecharm]

How do you get around this? Do you just make a similar product with your own brand and then try selling it? Or is it best to import generic products like ladders vs. "Werner Ladders"?

I have been focusing on selling to the consumer and finding products to sell them.

Do you sell directly to the consumer or are you selling to businesses?

And are you focused on a specific product or are you selling the material to make the product.

For example are you importing jeans or the denim that makes the jeans?

How do you find your buyers? If you are selling to businesses aren't you more like a broker of goods?

On a side note, I've made a living as an internet marketer for the last five years. I'm looking to get out of it now and do something different. But if you have any questions about Internet marketing I'd be happy to try and answer them for you.

Hey,

Well, here are the answers one by one:-

1:- We are setting up our own brand.. That is the best long term plan.. If you look at all the clothing shops right now, all of them are pretty much selling the same type of things (but slightly different and with their own touch).. So, go with the market.. Its summer now, so every one will be selling shorts and vest.. If any one tries to sell jackets then they are in for some trouble..

2:- We sell in wholesale (from our London office), and our clients are usually other wholesalers or retailers.. For the manufacturing factories, we sell to the brands directly.

3:- We make mostly mens wear.. but some times kids item as well.. But majority is mens wear..

4:- As for materials, sometimes we import them some times we make them.. depending on what it is and where is the best price.. Sometimes its cheaper to actually buy instead of manufacturing (it has happened couple of times)..

5:- For manufacturing, buyers comes by word of mouth.. For wholesale, we have our sales team in UK and now I am marketing the site to get more online sales..

Hope they have answered your queries.

 

[lovecharm]

Wow lovecharm you're the man! This thread has compelled me to login in for the first time in a long while .
I know a little about internet marketing and what I dont i can sure figure out or find out. I would love to help you out in any way i can remotely, i have a lot of time on my hands too due to having the summer off uni.
Im not going to waste your time but if I can help you with anything in exchange for some guidance I would jump at the opportunity.

Can i send you a pm

Hey Swift,

Yeah send me a PM.. Where about in England are you.. We do need some hands in our London office.. so if you are willing to help then I can definitely arrange something for you..

 

[lovecharm]

Hey lovecharm,

I am very interested in this import/export-business as well and have a few questions.

I don't have to order from alibaba, because I am already staying in Bangkok. I see many advantages (bigger and cheaper choice of products, smaller living costs etc.) but one big disadvantage: The shipping from here to my customers overseas takes either much more time or is getting very expensive. To make it easy for the customer I offer free shipping by the cheap local post (cost me around 3-4$ for a women dress) but it usually takes 12-20 days. Do you have any experiences if this is a huge turn off for many potential customers? Do I have to have somebody in each country who will store and forward the stuff for me? I could see this working once I have reached a certain amount of orders, but right now it doesn't make any sense to me.
Also I am confused about the best strategy long-term. I have sold a few dresses to private persons and my first thought was to establish my own brand with the goal to sell stuff by myself for the highest possible price. But I also had a few interests buying from me wholesale or selling from me. I have the feeling that it is pretty hard to do both at the same time, because I don't want to destroy my own market. So what is the best strategy here?

Thanks you very much!

I will just answer in bullet points.. hope they will make sense..

1:- Find a way to ship product early.. No one wants to buy stuff and wait for eternity.. Thats a huge turn over killer..

2:- You won't need some one to store your items in each country.. But it does help if your business grow and you have lots of clients who wants customer service.. Then a local agent certainly help.. So you can look for agent as well.. All will depend on your product margin and which angle you are trying to hit to grow.. There are many ways to grow.. You will have to decide how you are going to choose yours.

3:- You can sell items in wholesale and retail (if you can organise or have people who you can delegate). But they will be 2 totally different concept and 2 different business identity. Also, make sure no one knows about it otherwise it might create problem.

 

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[lovecharm]

Thanks for this thread. I have been trying to look into this for months now and have just been totally confused as to how to go about it and not get scammed. Your information is really insightful. I'm currently looking at more and more now, finding suppliers, looking at products, etc. It's a bit overwhelming right now but intriguing at the same time.

When dealing with shipping from the supplier I was always under the impression that shipping is slow especially if you are receiving large quantities. Do you have to factor this in when you need to receive new stock? Do you have to plan for this?

Shipping can be slow or fast, depending on how they are shipping them. If its air then it will certainly be fast, but will cost more. If you are getting them by sea then they will take long time but will cost less.

Yes you have to factor the arrival time for your new stock and have to plan them in advance. Make sure you have a clear idea on how long the shipping will take to arrive to your port and then from there how long it will take to clear and arrive to your warehouse. Also, keep 2 days extra in hand, as something always goes wrong, eg customs might want to do a full inspection, the lorry is not available today but will be from tomorrow etc. It's not major issue, but you need to keep them in mind.

 

[Phones]

Hey

I can't give you exact prices and figure as I don't know where you buying from and where you are receiving them..

But I can give you some sneaky tricks that we use to send fairly large items (like 8kg+)..

Contact the airlines, specially the cheap ones like Air India, Biman Bangladesh etc.. Obviously you will contact the local airlines from where you are getting the stock from.. Lets say you are getting your parcels from Bangladesh, then you will be looking for cheap local airlines who has flights to your destination..

Those cheap local airlines does air cargo for almost half price compared to ems, fedex, dhl etc..

When we send our samples to our London office from Bangladesh, we send them using Biman Bangladesh air cargo.. The cost per kg is almost half the price of dhl..

Funny enough, the company who sends these using air cargo are also a Dhl agent.. Irony ha..

There are not direct flights between China and Portugal, one scale always, do you think it would still work to contact the airline? Would they be able to "re-direct" the shipment ?

 

[lovecharm]

There are not direct flights between China and Portugal, one scale always, do you think it would still work to contact the airline? Would they be able to "re-direct" the shipment ?

Hey,

Sorry for the little delay.. Finding a nice and likeable flat in LA seemed like a mission.. But finally I have found a nice bachelor pad on the 16th floor with entire LA view, plus roof top pool, gym etc.. Really the ultimate bachelor pad.. Now I will need to set up a Pole for the girls there lol..

Any way, here's your answer..

Yes, it can still work, because airlines has alliances with other airlines.. Here's what happening to me, I am booking my flight to LA from London in Delta.., so I will come to LA in Delta, however, on the way back to London I will go by Virgin. Apparently Delta is Virgin's alliance.. Now it really doesn't makes much difference to me as all the business class are pretty much same, well virgins A340 flights business class seems to have bars, never been on any Virgin atlantic, so will check it out, hence I am booking that flight.

So, just like that, airlines might have alliances.. Also, it doesn't matter if you have direct flights from China to Portugal or not, if people from portugal can go to china then parcel or packages can go to China from Portugal as well (or vice versa). They can redirect anything..

Best bet is, pick up the phone (no, not yourself, the actual phone) and call.. Also, it is advisable to do a google search (in portugal google) about sending parcels to China, you might find companies who send parcels to china, they will also be able to bring them from China as well..

 

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[lovecharm]

Hey every one,

Today got some time to my hand..Well, I have decided to take some time off today as I have been fuming after some of my stuff didn't in house some of the raw materials (on purpose) and as a result have to send lots of worker to home, as they didn't have any work..

Now, I am a genuine guy and always try to have a fair deal on everything and with any one..But, not every one is like that.. Some people have no problem stabbing a honest and genuine guy for their own benefit.. And today, they stabbed me big time..

So was really down all day and thought might as well take some time off and reset my emotions. Hopefully tomorrow I will have my focus back on and will be able to forget what happened today and move on.. Its really hard some times when people don't keep their side of the bargain.. But I guess thats life..

Any way, enough of my rant. I am going to use my energy to write something useful for you guys instead of focusing the negatives.

Today I will be writing about PAPERWORKS, what sort of paperworks you guys will be coming across when you guys are importing.

Letter of Credit (also widely known as LC) – You will be hearing this word LC quite a lot when dealing with big foreign manufacturer or supple. Its basically a letter from your chosen bank which says that they will guarantee payment provided the entire required documents (usually specified in the letter) are in order. There are 2 types of LC's, at sight LC and timed LC.

At sight LC. This means that payment is made immediately to the beneficiary/seller/exporter upon presentation of the correct documents in the required time frame. Now, in majority of the case buyer won't give at sight LC, but the seller will always want the sight LC.. As a result, this sight LC becomes a major weapon during negotiation term. So always keep this in mind during negotiation.

Timed LC. Well, in this LC there will be specification on when payment will be made at a future date and upon presentation of the required documents. Usual timed LC's are 60 days or 120 days etc.. Again, this timing of the LC's will also be your weapon for negotiation because the seller wants quick money and the buyer wants to delay it to improve their cash flow.. So keep that in mind..

Purchase Order – Also known as PO, yes I know they make short form of everything, so for a new guy it becomes pretty awkward to understand whats going on.. PO is the probably the first paperwork you will need to start the import process, as you will have to submit it to the bank for LC, then they will open up an LC for you.. You will need the PO at later stage for customs clearance as well.

Certificates of Origin – Its mainly a certificate which shows where the goods are coming from. This is quite vital for customs to asses the tariff based on that, as tariffs of a product can vary from country to country. Obviously you guys should know about the tariff and import restrictions before you even negotiate. The worst thing that can happen is, you ordered some goods and customs stops it because there is restrictions to import from that certain country. One of the prime example was British beef during the cow disease period, as British beef was banned from every where in the world, so if you ordered them then customs will simply seize it and destroy it.

Insurance document - Now, this is not mandatory and majority of you will not need it. But we have to submit an insurance document before shipping a goods, so that if anything goes wrong during the transport (like storm in the sea) then the buyer will get compensation. This depends on the buyer really, whether they want the insurance document or not. Some do and some don't. If you guys want your products to be insured then you guys can do the insurance.

Bill of Lading – This is mainly the shipping contents, which shows whats inside the container. This term is used in the shipments by sea, for air its called Airway bills, I am coming to that next.

Airway Bill - Same as bill of lading but only for air shipment.

Inspection Report – Well, this is nothing to do with customs or anything, this is mainly you employing some one or hiring a company to inspect a goods before leaving the original country. In other words you are paying some one to check if the supplier is sending a leather sofa (which you ordered) or a plastic chair instead of a leather sofa.

Packing List - In other words, whats in the container (how many boxes) and whats inside those boxes. The supplier will provide that.

Invoice - You know what it is, its summary of merchandise along with price in the currency of sale.

Those are pretty much the usual and common paperworks that most of you will come across. There are more, but lets not mess up your head by giving too much info. If you know about these documents then you guys are good to go.

Thanks and have a nice weekend.

LC

 

[Brootal]

Bump for a great thread. Thanks for your help!!

 

[Darius]

If one of those mentor position is still available, count me in.

 

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[arcola]

This thread is incredible!

LC, I need to have pillows with graphic designs manufactured, could I do business with your company or can you refer me? I have so many questions this thread is a gold mine!!

 

[nextgen]

Hello,

I havent posted on the forum in awhile due to being extremely busy however, I ventured back and read this entire thread. I started importing products from china around 5 months ago and have made a decent amount however, for some odd reason I am not able to replicate this with other products.

I read through your advice on finding suppliers and I must say I was burned several times with manufacturers. I don't have any questions for you at this time however, if you are still willing to help mentor people I would be interested.

Thanks,

Nextgen aka CC