How and where do you get your product from?

AadhyaMehra

Banned 9 years ago

I am creating my products in my own company.

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Importexport

9 years ago

Originally Posted by SFNY

How do you get your product?

Just wondering how many people actually create their own product via outside manufactures or buy product wholesale to sell? If you buy wholesale, what are some of the hurdles you have to face? If you create your own product, what kind of manufactures have you used or are you working with to create them? What kind of hurdles have you faced and can you share some of us newbs with some helpful tips?

Thanks
Steve

There are plenty of people who have products made to their specifications but the majority of people selling products online buy existing products for resale.

You should not buy wholesale because wholesalers buy from manufacturers then add a big margin before selling the product to you. If you buy direct from manufacturers, you can bank that extra margin.

If you have chosen what products to sell and you know that you can sell them and for how much, the easy part then is to find genuine manufacturers of those products in China or other countries.

I have taught hundreds how to do it.

"If you think education is expensive - consider the cost of ignorance."

[ 1 ] Thanks

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Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com

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ZanyZebra

9 years ago

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Importexport

9 years ago

Originally Posted by ZanyZebra

I have my own branded products made in China (mostly). After going through a vetting process i've settled on a few manufacturers who i've now built up a good relationship.

The main hurdle in selecting a manufacturer is in vetting. You can never get to a point of complete comfort on this and eventually you have to take a (calculated) risk. Your personal risk profile will either stop you in your progress or move you forward.

Good luck with your venture.

The risks can be greatly reduced, if not completely eliminated by using safe sourcing methods, as well as only sourcing via safe B2B sites.

"If you think education is expensive - consider the cost of ignorance."

Thanks
1 reply

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Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com

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SFNY

9 years ago

I agree.

Wholesalers have to get their product from somewhere...Basicially climb the pyramid to the top and cut out the middleman. Then, distribute to retailers and so sell direct online. Seems logical...

I was never into making money via Adsense, affiliates, or dropshipping. I have always provided a service type business or sold. I can see myself moving forward with this (niche distribution/ecommerc).

Now, to find those manufacturers...found a few sites that document latest imports of the product I'm looking at and the manufacture they are coming from along with the number of shipments.

Maybe I'm on to something?

Thanks
1 reply

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Importexport

9 years ago

Originally Posted by SFNY

I agree.

Wholesalers have to get their product from somewhere...Basicially climb the pyramid to the top and cut out the middleman. Then, distribute to retailers and so sell direct online. Seems logical...

I was never into making money via Adsense, affiliates, or dropshipping. I have always provided a service type business or sold. I can see myself moving forward with this (niche distribution/ecommerc).

Now, to find those manufacturers...found a few sites that document latest imports of the product I'm looking at and the manufacture they are coming from along with the number of shipments.

Maybe I'm on to something?

If you want worthwhile information from those import documentation sites you will have to subscribe. The lowest cost one I know would be $99 per month for a very limited service.

For a one off cost less than that monthly fee you can learn how to safely find an unlimited number of genuine manufacturers, how to get them to supply the quantity you are comfortable with ordering rather than buying their big MOQ, how to be sure you are getting the best price, and finally how to import the goods without having to learn all the rules and regulations.

I know product sourcing and importing very well and I know which way I would choose for safety, huge time saving, and biggest choice of manufacturers.

"If you think education is expensive - consider the cost of ignorance."

Thanks
1 reply

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Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com

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satish053 8 years ago

so.... what i need to learn from you..? please tell me ...
- Thanks
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ChristopherCook

9 years ago

You have to work out your deal with your vendor, if you want to take it slowly, you can just use sites like aliexpress..

Thanks
1 reply

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Importexport 9 years ago

Originally Posted by ChristopherCook

You have to work out your deal with your vendor, if you want to take it slowly, you can just use sites like aliexpress..

Aliexpress is a retail site and has a massive number of complaints against vendors using that site. Alibaba is a B2B site that also is renowned for the number of scams associated with vendors listed on that site.

In both cases you will be lucky if you can find genuine manufacturers among the thousands of traders falsely claiming to be manufacturers. That means you will be paying inflated prices because those traders buy from manufacturers then add a substantial margin before selling to you.

I teach how to safely source products at the best possible prices by using safe sites and safe sourcing methods.

"If you think education is expensive - consider the cost of ignorance."
- Thanks
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Riccur

9 years ago

Try selling other companies products first to make sure you understand the basics of selling to customers you may or may not be interacting with. Once you get a good amount of sales at low margins look at increasing your margins then take a look at making your own products. ABC Always Be Closing!

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Arshid

9 years ago

Buy bulk products with wholesale price. That is good for small business.

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Importexport

9 years ago

Originally Posted by Arshid

Buy bulk products with wholesale price. That is good for small business.

No! Don't pay wholesale prices. See post #10. If you buy from wholesalers you will be paying the price the wholesaler paid to the manufacturer plus the big margin the wholesaler adds before they sell to you.

If you buy direct from the manufacturer you only pay the ex-factory price and that extra margin is all yours.

As for buying in bulk, I have taught hundreds of people in 35 countries how to buy small quantities direct from genuine manufacturers at prices that will amaze you. Here is a post made by a Warrior on this forum: "He writes about how and why to contact the manufacturers directly, no dropshipping. I have contacted some manufacturers already (from links he supplies) and I am just shocked at the low prices they offer for products I am researching. Forget Alibaba, Global Resource, whatever."
Most people continue to use Alibaba for their sourcing because they don't know there are better sourcing sites.

"If you think education is expensive - consider the cost of ignorance."

Thanks
1 reply

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Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com

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Therion

9 years ago

Originally Posted by Importexport

No! Don't pay wholesale prices. See post #10. If you buy from wholesalers you will be paying the price the wholesaler paid to the manufacturer plus the big margin the wholesaler adds before they sell to you.

Wrong. I can tell your wholesaling experience is limited to one country.

I buy a pretty substantial amount of Amazon, Fingerhut, Home Depot and Boscov's overstock merchandise every month from a wholesaler. Brand new stuff which isn't a Chinese knockoff and has an FOB location within the lower 48 states. New clothing, Ryobi tools, electronics...you name it. I won't have to deal with port authorities f**ing with my merchandise, won't have to get extorted on shipping and will have the same goods anyone here will - and quicker.

By the time buyers of Chinese goods are done dillydallying with paperwork and legalities that go into saving a few bucks, I've nearly halfway through moving my load (the one I got here within 500 miles of me).

I pay .09 - .14 cents on the dollar (retail price) for brand new stuff. They make somewhere between .5 and 1 point (I know them personally) which everyone does down the line - and the company I use has exclusivity to these loads. They move volume, have low overhead, and don't push the box store/flea market vendor/online seller around.

I will then take said merchandise to flea market booths I run. I'll occasionally move them online for far less than Amazon or eBay sellers are selling it. I'll make my points, reinvest in another load, and repeat.

Sounds as if though you're selling an idea instead of stating facts. Take it from someone who has done liquidating/wholesaling for two decades...buying an entire truckload of brand name goods is much simpler (and less nefarious) than buying from bottom feeders overseas selling knock-off iPhones and wanna-be Burberry sweaters.

You make profits by moving volume while keeping margins 'judicious'.

Thanks
1 reply

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Importexport

9 years ago

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DURABLEOILCOM

8 years ago

Originally Posted by Importexport

Wow, have you jumped to conclusions! So that readers can see that you are talking about a business model far removed from direct importing and selling, I have numbered most of the points you have made.
1 I have been involved in importing since 1987, and I have never bought wholesale, because I know the massive difference between wholesale prices and genuine ex-factory prices.
2 I constantly warn against buying and importing knockoffs. I have hundreds of my book buyers successfully buying and importing products at extremely low cost that are not knockoffs and are not big brand items. Your comment does not apply.
3 Those that I have taught how to import the easy way don't have the problems that you either imagine or have experienced yourself due to inadequate knowledge of importing.
4 And they are not "extorted on shipping". You must have had some bad advice if your comments 3 and 4 are due to your own importing experience.
5 "Save a few bucks" !!! My book users report buying at prices that are staggeringly low. Here's an example of a WF post by one of them, and there are many more such posts: "I have contacted some manufacturers already (from links he supplies) and I am just shocked at the low prices they offer for products I am researching. Forget Alibaba, Global Sources, whatever. The Ebook shows you where to find manufacturers, how to verify their credibility etc." If you are happy with your business model with its sources and profit margins then good for you, but there is no reason for you to knock successful and extremely profitable alternatives.
6 Margins posted on the forum by my book users range from as little as 300% to 500% with one even stating a landed cost of $1, and a selling price of $25. They do this with assured continuity of supply, without having to go through the lucky-dip process of finding what is available through liquidators. You might like that process but they prefer to find a good supplier of a good product and stick with it. You boast of your experience when you say: "Sounds as if though you're selling an idea instead of stating facts" without having any idea of what my experience is. See my closing comments about my experience below.
7 Few newbies have sufficient funds to buy a truckload of anything. Many start with as little as $300 and build up a bigger business. Here is an email from one of them: "Ok. From extremely skeptical to successful completion. Credit given where credit is due. I followed the book instructions you laid out. Took my time to double check everything and was able to successfully import an order from China. Not only that but it was also a "sample order" for less than 300.00. A 300% mark up has allowed to get initial investment back and I have 70% of my inventory left. Stop promoting your book. Your encouraging competition for me Many thanks." Email on file for FTC inspection if required.
8 They don't buy from "bottom feeders" they buy direct from genuine manufacturers because they don't buy "knock-off iPhones and wanna-be Burberry sweaters" as you have wrongly assumed. They buy legitimate goods but never big brands, knockoffs, counterfeits, or any other illegal stuff.
9 My book users make big profits by buying at very low prices that people who have never dealt with real manufacturers cannot even dream of. They can sell at very big profit margins because their costs are so low.

If my methods did not work, I would not have the hundreds of testimonials that I have received, completely unsolicited.

Using much the same methods that I now teach, I started my own importing and B2B marketing business in 1987. It was so successful that I franchised it in four countries, and kept all those franchisees happy earning high profits until I retired a few years ago. I am not a newbie and I am not a guru in training like so many "experts" selling "how to import" courses.

"If you think education is expensive - consider the cost of ignorance."

Does your book provide a list of legit sources?

How much does it costs?

Where can you get it?

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Importexport

8 years ago

[DELETED]

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DURABLEOILCOM

8 years ago

Originally Posted by Importexport

One thing I won't do is sell lists. My book provides details of safe sourcing sites where there are large numbers of genuine manufacturers to choose from.

I don't recommend the casual B2B sites like Alibaba, DHGate, Tradekey etc. partly because it requires a lot of slow, hard work to sort out the few genuine manufacturers from the multitude of listings by traders who pretend to be manufacturers.

I hope this doesn't get me into trouble with the moderators, but in answer to your question, the book costs $97 and can be found at Learn To Successfully Import From China and The Rest of The World - Proven China Sourcing

Walter Hay.

"If you think education is expensive - consider the cost of ignorance."

When will you be updating it? Last update was 2014

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Importexport 8 years ago

Originally Posted by DURABLEOILCOM

When will you be updating it? Last update was 2014

The latest update is due for release any day now. It is in the final stages of editing and formatting. I will let you know the date when it becomes available.

It has been expanded considerably. It is now 33 chapters and 133 pages.

Walter Hay.

"If you think education is expensive - consider the cost of ignorance."
- Thanks
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Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com
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felixcohen

8 years ago

Originally Posted by Importexport

I don't recommend the casual B2B sites like Alibaba, DHGate, Tradekey etc. partly because it requires a lot of slow, hard work to sort out the few genuine manufacturers from the multitude of listings by traders who pretend to be manufacturers.

Made in China and HKTDC are not B2B?

Thanks
1 reply

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Importexport

8 years ago

Originally Posted by felixcohen

Made in China and HKTDC are not B2B?

Yes they are, and so are:

EC21, etradeasia.com, TTnet.net, IndiaMart, chinatoday.com (click on import/export) AsianProducts.com, Globalsources, Tradegate, Taobao, ecplaza.net, chinaexporter.com, TradeAsia, gobizkorea.com, chinaexportonline.com, exportersindia.com (Gold membership only $300).

I have listed a few of the sites that I know, but there are many more. The big problem in using these sites is that they almost universally have no proper verification or assessment process.

I mentioned the tiny amount of $300 required to buy Gold Membership on the last site I listed. Some of them require even less, but buyers tend to think that GOLD means GOOD. That is often not the case.

Walter Hay.

"If you think education is expensive - consider the cost of ignorance."

Thanks
1 reply

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ZamScofield

8 years ago

Hi Importexport,

Thanks for sharing the lead. I've been sourcing for creditable and trustworthy manufacturer which I can work with. I read that the book provide the information that I need. How I can be sure of that? Does it cover the entire world manufacturer listings? And I will receive the occasional updates of the book after purchasing it? Or is it just another affiliate link?

Thanks
1 reply

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Importexport

8 years ago

Originally Posted by ZamScofield

Hi Importexport,

Thanks for sharing the lead. I've been sourcing for creditable and trustworthy manufacturer which I can work with. I read that the book provide the information that I need. How I can be sure of that? Does it cover the entire world manufacturer listings? And I will receive the occasional updates of the book after purchasing it? Or is it just another affiliate link?

@ZamScofield. Thanks for your questions.

You asked: "I've been sourcing for creditable and trustworthy manufacturer which I can work with. .... How I can be sure of that?" The book does provide a lot of advice on how to source safely. Most "experts" send you to risky sourcing sites, but the sites I recommend are safe to use.

You asked: "Does it cover the entire world manufacturer listings?" The sourcing sites I list, with instructions on how to use them, include several that are international, with hundreds of thousands of manufacturers from many countries listed. It also includes country specific sites for 15 or 16 countries. There will be some countries where you might not find manufacturers, but the major exporting countries and many of the smaller ones are there.

You asked: "And I will receive the occasional updates of the book after purchasing it?" My book is updated periodically and all who have bought it are offered a free download of the updates. The latest revision is due out in a few days. I never post any affiliate links.

I repeated your questions to show one particular moderator that I was not self- promoting, just answering questions. He has a habit of deleting my posts if I even mention my book.

Walter Hay.

"If you think education is expensive - consider the cost of ignorance."

Thanks

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Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com

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DURABLEOILCOM

8 years ago

Originally Posted by Therion

Wrong. I can tell your wholesaling experience is limited to one country.

I buy a pretty substantial amount of Amazon, Fingerhut, Home Depot and Boscov's overstock merchandise every month from a wholesaler. Brand new stuff which isn't a Chinese knockoff and has an FOB location within the lower 48 states. New clothing, Ryobi tools, electronics...you name it. I won't have to deal with port authorities f**ing with my merchandise, won't have to get extorted on shipping and will have the same goods anyone here will - and quicker.

By the time buyers of Chinese goods are done dillydallying with paperwork and legalities that go into saving a few bucks, I've nearly halfway through moving my load (the one I got here within 500 miles of me).

I pay .09 - .14 cents on the dollar (retail price) for brand new stuff. They make somewhere between .5 and 1 point (I know them personally) which everyone does down the line - and the company I use has exclusivity to these loads. They move volume, have low overhead, and don't push the box store/flea market vendor/online seller around.

I will then take said merchandise to flea market booths I run. I'll occasionally move them online for far less than Amazon or eBay sellers are selling it. I'll make my points, reinvest in another load, and repeat.

Sounds as if though you're selling an idea instead of stating facts. Take it from someone who has done liquidating/wholesaling for two decades...buying an entire truckload of brand name goods is much simpler (and less nefarious) than buying from bottom feeders overseas selling knock-off iPhones and wanna-be Burberry sweaters.

You make profits by moving volume while keeping margins 'judicious'.

How can you find these amazing Wholesalers?

Thanks

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jmwang

9 years ago

You can buy bulk products with wholesale price from aliexpress ,alibaba ,made-in-china,en.ofweek,globalsource and many other B2B marketplace!

Thanks

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hahihahi

9 years ago

Buy through wholesale and re-sell: your gross profit margin is usually about 30-50% and you are selling a product with other person's branding
OEM / create your own product private label: your profit margin is usually 100% and above. Most important is that you own the brand

Therefore, it depends on your business strategy.

Thanks
1 reply

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Importexport

9 years ago

Originally Posted by hahihahi

Buy through wholesale and re-sell: your gross profit margin is usually about 30-50% and you are selling a product with other person's branding
OEM / create your own product private label: your profit margin is usually 100% and above. Most important is that you own the brand

Therefore, it depends on your business strategy.

Regarding margins, please see items 5, 6 and 7 in my post before yours.

I agree private labeling is the better way to go, but many generic products are supplied ex-China without any brand and can be labeled without having to have your own product made from scratch.

"If you think education is expensive - consider the cost of ignorance."

Thanks

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sanchaydhruba

8 years ago

We don't manufacture our own products, we get products from sellers. We have a list of sellers from which we get our products. These sellers help us to provide products for our clients too. Our working system is very easy so that we don't face any kind of hurdles.

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