Importing products from overseas, Which site?
Discussion
I am looking to import some specialist mountain bikes from over seas, Looked on a few B2B sites like Alibaba and Tradekey.
Can anyone else recommend any more? I would only pay via Paypal for the security, Noticed a few say bank transfer etc.
Is there anything I should look out for?
Thanks
Can anyone else recommend any more? I would only pay via Paypal for the security, Noticed a few say bank transfer etc.
Is there anything I should look out for?
Thanks
Are you looking to import wholesale quantities?
Depending on the transaction amount, paypal may well be very unfavourable for the supplier. And if wanting wholesale pricing/quantities its very usual to pay by wire.
You could look at using escrow as an option also with someone like escrow.com
If your looking for specialist bikes, i would not be looking at tradekey or alibaba (same company, different names), but at the same time i could not advise who to turn to.
Depending on the transaction amount, paypal may well be very unfavourable for the supplier. And if wanting wholesale pricing/quantities its very usual to pay by wire.
You could look at using escrow as an option also with someone like escrow.com
If your looking for specialist bikes, i would not be looking at tradekey or alibaba (same company, different names), but at the same time i could not advise who to turn to.
I am by no means trying to make a living out of importing alone, I have got enough stock but its just another way to get extra money really.
I have spoke to a few companies and including fees there is a bit to be made.
Wont be going all out and ordering 20+ bikes, Probably around 3-4 a month.
I have seen a couple that accept Paypal so I am in talks with them, Hopefully work something out.
Just not sure what to look out for really, Was hoping someone had done it before and could give me some ideas of quality, delivery time etc.
Thanks
I have spoke to a few companies and including fees there is a bit to be made.
Wont be going all out and ordering 20+ bikes, Probably around 3-4 a month.
I have seen a couple that accept Paypal so I am in talks with them, Hopefully work something out.
Just not sure what to look out for really, Was hoping someone had done it before and could give me some ideas of quality, delivery time etc.
Thanks
If you want to start importing things you will need to bring in a lot more than 3-4 bicycles a month. Shipping costs for tiny quantities will be very large. You will also really struggle to build up a relationship with a supplier.
You will be buying samples quantities of a product which will change from month to month in their design. Quality is the single hardest issue to keep on top of. I think finding a decent bicycle manufacturer in China (I assume that's where you want to buy from) will be all but impossible. When you do get your bikes landed you have to compete with someone who buys by the container full at a very advantageous price, pays virtually no shipping costs and so could sell for your buy in price and still draw a profit.
if you can find a highly specialist bike which no one else in the UK sells then it might work. You won't though. If you find them on the internet so will a thousand other people.
To buy in Asia you really have to go to Asia or else be prepared to throw stuff that doesn't meet your standards in the bin.
Henry
You will be buying samples quantities of a product which will change from month to month in their design. Quality is the single hardest issue to keep on top of. I think finding a decent bicycle manufacturer in China (I assume that's where you want to buy from) will be all but impossible. When you do get your bikes landed you have to compete with someone who buys by the container full at a very advantageous price, pays virtually no shipping costs and so could sell for your buy in price and still draw a profit.
if you can find a highly specialist bike which no one else in the UK sells then it might work. You won't though. If you find them on the internet so will a thousand other people.
To buy in Asia you really have to go to Asia or else be prepared to throw stuff that doesn't meet your standards in the bin.
Henry
As already stated, you won't find suppliers willing to accept PayPal unless for 1-off samples.
A SWIFT transfer is the usual method of payment. This does burdon you with all the risk, but it's usually the only way to trade with overseas suppliers. Much of the risk can be offset by doing a reasonable amount of due diligence before trading with any particular supplier... Google them, do a whois on their domain name, speak to them on the phone (not always easy given the language barrier, but most of the bigger suppliers will have sales staff that speak good English), etc. Most scam suppliers give the game away and start alarm bells ringing in a way that should be quite obvious to most sensible buyers. I've dealt with a good number of Chinese wholesalers and never been stung and I've always paid by SWIFT transfer and, on one occasion, by Western Union. I'm careful who I trade with though and have a good nose for scammers.
If you haven't done so already, you'll need to familiarise yourself with Incoterms, otherwise you'll be lost when speaking to suppliers.
One last thing to be aware of is UK and EU legislation. You need to make yourself intimately familiar with any and all legislation that may apply to anything you're looking to import. CE marking is the most common requirement, but also RoHS for electricals. Don't just accept a supplier on their word and don't trust a CE logo at face value. You need to request certificates and do your own checks. It's your neck on the line if a product you import injures somebody you've sold it to.
A SWIFT transfer is the usual method of payment. This does burdon you with all the risk, but it's usually the only way to trade with overseas suppliers. Much of the risk can be offset by doing a reasonable amount of due diligence before trading with any particular supplier... Google them, do a whois on their domain name, speak to them on the phone (not always easy given the language barrier, but most of the bigger suppliers will have sales staff that speak good English), etc. Most scam suppliers give the game away and start alarm bells ringing in a way that should be quite obvious to most sensible buyers. I've dealt with a good number of Chinese wholesalers and never been stung and I've always paid by SWIFT transfer and, on one occasion, by Western Union. I'm careful who I trade with though and have a good nose for scammers.
If you haven't done so already, you'll need to familiarise yourself with Incoterms, otherwise you'll be lost when speaking to suppliers.
One last thing to be aware of is UK and EU legislation. You need to make yourself intimately familiar with any and all legislation that may apply to anything you're looking to import. CE marking is the most common requirement, but also RoHS for electricals. Don't just accept a supplier on their word and don't trust a CE logo at face value. You need to request certificates and do your own checks. It's your neck on the line if a product you import injures somebody you've sold it to.
Edited by ian_uk1975 on Friday 9th November 23:27
ian_uk1975 said:
One last thing to be aware of is UK and EU legislation. You need to make yourself intimately familiar with any and all legislation that may apply to anything you're looking to import. CE marking is the most common requirement, but also RoHS for electricals. Don't just accept a supplier on their word and don't trust a CE logo at face value. You need to request certificates and do your own checks. It's your neck on the line if a product you import injures somebody you've sold it to.
Just to emphasise the CE marking thing. Lots of chinese stuff is CE marked, and some will admit to self certification or even to 'China Export' rather than the european conformity that 'real' CE means (OK there are debates over eactly what CE stands for but it is the european one that you want).Thanks for the advice, I have looked in to the ADD fees and would hopefully buy from Taiwan or South Korea to avoid this.
I have been in touch with one company in particular called Maple Sourcing, apparently they have contacts who can offer premium quality at a reasonable price, There is also some one else I have been in touch with regarding quality control so hopefully they will be ok.
I am really tempted and would love to have the chance to fly over there and check it out first hand but maybe that will come a little down the line. I am thinking of ordering one to see the quality and how everything works then probably increasing my orders, Maybe 3-5 a month.
Thanks for the advice everyone.
I have been in touch with one company in particular called Maple Sourcing, apparently they have contacts who can offer premium quality at a reasonable price, There is also some one else I have been in touch with regarding quality control so hopefully they will be ok.
I am really tempted and would love to have the chance to fly over there and check it out first hand but maybe that will come a little down the line. I am thinking of ordering one to see the quality and how everything works then probably increasing my orders, Maybe 3-5 a month.
Thanks for the advice everyone.
Don't forget duty. There's 14% to pay on bicycles, based on the CIP value.
https://www.gov.uk/trade-tariff/commodities/871200...
Then VAT on top of that.
https://www.gov.uk/trade-tariff/commodities/871200...
Then VAT on top of that.
The factory probably won't make 3-5 a month for you, sorry.
They wouldn't set up a production run for such a small quantity, and since goods are made to order for each specific country and order, unless you can piggy back off somebody elses orders (unlikely), it won't be feasible.
You'll probably find the MOQ will be 1 x 20' container (maybe mixed models, if you're lucky).
Also, because of the trade cycle being longer when ordering from the far east, you'll need something between 2 to 3 times more cash available than your first order to keep a regular supply. If you can only afford 3-5 at a time, you'll only be operating for four months of the year. To order 3-5 at a time, you'll need approximately enough cash to be able to buy 12-17 (depends on the production and shipping times).
They wouldn't set up a production run for such a small quantity, and since goods are made to order for each specific country and order, unless you can piggy back off somebody elses orders (unlikely), it won't be feasible.
You'll probably find the MOQ will be 1 x 20' container (maybe mixed models, if you're lucky).
Also, because of the trade cycle being longer when ordering from the far east, you'll need something between 2 to 3 times more cash available than your first order to keep a regular supply. If you can only afford 3-5 at a time, you'll only be operating for four months of the year. To order 3-5 at a time, you'll need approximately enough cash to be able to buy 12-17 (depends on the production and shipping times).
I have spoke to a few now who are willing to accept an order of this size. Once I have ordered my first one I can see the quality, Chances are I will be ordering more off them, I just need to make sure that they are ok.
I will contact a few more companies and see what they come back with.
Thanks again
I will contact a few more companies and see what they come back with.
Thanks again
You should read this guys blog, you'd find it useful
http://youngmoneychina.com/2012/03/24/bicycle-prog...
http://youngmoneychina.com/2012/03/24/bicycle-prog...
JCKST1 said:
I have spoke to a few now who are willing to accept an order of this size. Once I have ordered my first one I can see the quality, Chances are I will be ordering more off them, I just need to make sure that they are ok.
I will contact a few more companies and see what they come back with.
Thanks again
You have no chance, read what has been written, the Chinese will tell you anything to get you to part with your money, they will source you a nice off the shelf cycle after extracting set up costs up front, see how quick you pay/reply and you say I'll have 5 they will say minimum 20 units and ship you something cheaper/different materials but with the same paint job.I will contact a few more companies and see what they come back with.
Thanks again
You need to visit and build up a good relationship, or wait two months for the container to arrive you to found out you've been had, get an Agent over there you can trust but it all takes time, just a quick one do you speak Mandarin it's handy !
WTD said:
You should read this guys blog, you'd find it useful
http://youngmoneychina.com/2012/03/24/bicycle-prog...
What ever happned to him to Daniel?http://youngmoneychina.com/2012/03/24/bicycle-prog...
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