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Help Sourcing Suppliers

by Info-seeker
10 replies
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Hi there,

I need some guidance please as I do not know how to source suppliers.



I have £50,000 to invest and I already have buyers lined up, so what I need are suppliers who are willing to supply me.

1) How do I source the suppliers?
2) How do I negotiate the best price?
3) How do I make payment once we agree a price and what is the safest way?

I am totally new to this so please tell me what else I need to know/do in order to make this happen.

Thank you,
Simon
#sourcing #suppliers
  • Profile picture of the author Importexport
    See reply on my thread Ask Me Anything About Product Sourcing And Importing For Profit. ― Veteran Importer Here.


    You will notice there that I have deleted your product link in my reply. I suggest you edit your posts and remove the link to reduce the risk from copycats.



    Walter Hay.
    "If you think education is expensive - consider the cost of ignorance."
    Signature
    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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  • Profile picture of the author RJKushner
    Definitely check out Importexport's post he linked in his reply. He definitely knows what he's doing when it comes to importing products from overseas.

    Also, like Importexport said, make sure you edit your post and remove your supplier's link. You don't want to go around letting people know where you are trying to source a product from.
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  • Profile picture of the author Info-seeker
    Thank you very much for your help
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  • Profile picture of the author johnfsander
    There is a big website, whole sale pages, you can create their account and you will have access to suppliers, buyers and drop-shippers. Hopefully that move will help you to reach your business relevant people.
    Signature
    HTML Pro
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    • Profile picture of the author arrival7
      I have seen Importexport in a number of threads, and he is probably more experienced when it comes to importing and exporting.

      If you have that much money to invest, with buyers lined up, you do not want anything to go wrong. The name of the game is Sourcing, so I would advise you to actually visit the source. If the product is coming from China, take out the time to visit the supplier in China and set up operation. If the product is coming from the Japan, take out the time to visit the supplier in Japan to set up operation. This is really how this business is done a professional level.

      A lot of times you can meet suppliers online and they are just middlemen or brokers not really concerned about your business but making a quick buck with no real authority. When I decided to go into the Shoe business, I Traveled to China to actually meet suppliers to get the best deal which meant more profits for my company. Another good idea is to visit foreign trade shows since most of the products are made on foreign soil. If you do not have the time for foreign travel, you can also visit trade shows here in the USA, just google your product type plus trade shows. For example if you are selling stoves, you should type in Appliance trade shows in google.

      If you do not have the time to waste and buyers are ready now, just go to Alibaba or Aliexpress and find a supplier there, but the key is to always be on the look out for better suppliers and better product for expanding. Another word of advice is to always get samples from your source before placing a larger order, even when you order samples do not place a really large order on the next go round. Try to build slowly, meaning do not order samples of 6 then your next order , you get 100. Sometimes suppliers send you really good samples , then send you cheaper versions of the larger order to make more money for themselves!

      Another idea is to get with a middleman broker in the USA , who can handle your orders and you get a percentage of the sales, since a USA broker may already have an established supplier who can deliver your goods with great quality and on time. This idea will work until you can find your own supplier.
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      • Profile picture of the author Importexport
        Originally Posted by arrival7 View Post

        I have seen Importexport in a number of threads, and he is probably more experienced when it comes to importing and exporting.

        If you have that much money to invest, with buyers lined up, you do not want anything to go wrong. The name of the game is Sourcing, so I would advise you to actually visit the source. If the product is coming from China, take out the time to visit the supplier in China and set up operation. If the product is coming from the Japan, take out the time to visit the supplier in Japan to set up operation. This is really how this business is done a professional level.

        A lot of times you can meet suppliers online and they are just middlemen or brokers not really concerned about your business but making a quick buck with no real authority. When I decided to go into the Shoe business, I Traveled to China to actually meet suppliers to get the best deal which meant more profits for my company. Another good idea is to visit foreign trade shows since most of the products are made on foreign soil. If you do not have the time for foreign travel, you can also visit trade shows here in the USA, just google your product type plus trade shows. For example if you are selling stoves, you should type in Appliance trade shows in google.

        If you do not have the time to waste and buyers are ready now, just go to Alibaba or Aliexpress and find a supplier there, but the key is to always be on the look out for better suppliers and better product for expanding. Another word of advice is to always get samples from your source before placing a larger order, even when you order samples do not place a really large order on the next go round. Try to build slowly, meaning do not order samples of 6 then your next order , you get 100. Sometimes suppliers send you really good samples , then send you cheaper versions of the larger order to make more money for themselves!

        Another idea is to get with a middleman broker in the USA , who can handle your orders and you get a percentage of the sales, since a USA broker may already have an established supplier who can deliver your goods with great quality and on time. This idea will work until you can find your own supplier.
        I have privately given the OP help in locating suppliers for his specific product, but I would like to comment on a couple of points from your helpful post.

        Your suggestion about the desirability of visiting China when sourcing, is exactly right, but the problem for many is that they can't afford to do that.

        Many of the people I have taught how to safely source products and import them have started off with well under $1,000. For them the only practical way to source overseas is to use B2B platforms.

        It is important for those people to use safe sourcing sites and for that reason I advise against using Alibaba or Aliexpress. I don't disclose online which sites I recommend as safe, and for the reasons you should see my thread: If your secret B2B portals are so safe why don't you share?
        You will find a lot of helpful information there, but you will find a lot more useful information that I post mainly in response to readers' questions in my thread: Ask Me Anything About Product Sourcing And Importing For Profit. ― Veteran Importer Here.

        Regarding your suggestion about attending trade shows, I agree that is a great way to get a feel for what is on offer and maybe get new product ideas. Unfortunately, trade shows are just living breathing versions of the B2B sites, where it is very difficult to know if you are dealing with genuine manufacturers for maximum profit margins, or traders for much lower margins.

        There are many tricks used by traders to fool you into thinking they are manufacturers, and even if you visit their factory, in most cases you can't be sure if they are really the owners of that factory.

        I have written on this subject before and you might need to search my nearly 1500 posts to find the information, but if you have any specific questions please post them on my AMA thread linked above.

        Walter Hay.
        "If you think education is expensive - consider the cost of ignorance."
        Signature
        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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        • Profile picture of the author arrival7
          Truth is , I haven't done any private business with Importexport, but just by reading his threads, he does seem to know his stuff. I would recommend that anyone trying to get into importing and exporting listen to him.
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      • Profile picture of the author Info-seeker
        Originally Posted by arrival7 View Post

        I have seen Importexport in a number of threads, and he is probably more experienced when it comes to importing and exporting.

        If you have that much money to invest, with buyers lined up, you do not want anything to go wrong. The name of the game is Sourcing, so I would advise you to actually visit the source. If the product is coming from China, take out the time to visit the supplier in China and set up operation. If the product is coming from the Japan, take out the time to visit the supplier in Japan to set up operation. This is really how this business is done a professional level.

        A lot of times you can meet suppliers online and they are just middlemen or brokers not really concerned about your business but making a quick buck with no real authority. When I decided to go into the Shoe business, I Traveled to China to actually meet suppliers to get the best deal which meant more profits for my company. Another good idea is to visit foreign trade shows since most of the products are made on foreign soil. If you do not have the time for foreign travel, you can also visit trade shows here in the USA, just google your product type plus trade shows. For example if you are selling stoves, you should type in Appliance trade shows in google.

        If you do not have the time to waste and buyers are ready now, just go to Alibaba or Aliexpress and find a supplier there, but the key is to always be on the look out for better suppliers and better product for expanding. Another word of advice is to always get samples from your source before placing a larger order, even when you order samples do not place a really large order on the next go round. Try to build slowly, meaning do not order samples of 6 then your next order , you get 100. Sometimes suppliers send you really good samples , then send you cheaper versions of the larger order to make more money for themselves!

        Another idea is to get with a middleman broker in the USA , who can handle your orders and you get a percentage of the sales, since a USA broker may already have an established supplier who can deliver your goods with great quality and on time. This idea will work until you can find your own supplier.


        Thanks for the advice arrival7 - much appreciated.

        The truth is, I would travel to Australia and back if it means getting my foot through the door, but I haven't even manage to make contact with anyone to negotiate getting my foot through the door.

        I've sent the company in question a number of emails with my proposed offer, followed with a courtesy phone call and after being passed from pillar to post from various people for the last two days, I was given yet another email address to send my proposal to.

        Fingers crossed...
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  • Profile picture of the author linda dropshipping
    hi Simon
    from u questions we dont know much about
    1.what items u are going to sell?
    2.what is main makert u want to do?
    if u can say more about u business,more supplier will contact u.
    by the way,for more questions u can send me email.
    linda
    Signature

    to be a better girl.

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    • Profile picture of the author Info-seeker
      I have PM'd you.

      Thanks,
      Simon
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