To Ignore China in your business today, is to ignore opportunity. It’s no big secret that more than 40% of the worlds’ production now takes place in China. It’s most likely that the paper you will use in your office today was made in China, the chair you are seating on or the device with which you are reading this article right now has a component that was manufactured in China.
With China in your business plan, there is opportunity everywhere. Especially for you as an importer, business man, business woman and entrepreneur. As a beginner in the importation business, finding a profitable Chinese manufacturer is a key to the success of your business. This is because buyers of your product are less likely to risk spending their money on your product if there is no significant savings involved for them.
This means, you need to get your products at cheap wholesale prices for you to compete favorably in the market. Or maybe you are currently on a building project and you want to get the cheapest building materials, you’ll need to source for materials at very cheap whole sale price without sacrificing quality. There are three ways to find a Chinese manufacturer who can supply you at whole sale prices without sacrificing quality:
A) Online Trade Portals: If you must source for products without going to china as a beginner in importation business, then using online trade portals is your best bet. However, let me quickly add here that with online trade portals, you need to be extra-diligent in doing your home work and back-ground checks to avoid being scammed. Some of the very good trade portals that I use to find manufacturers include: www.business-in-asia.com, www.globalsources.com, www.sourcing-cn.com,
For a detailed insight into how to search and get a trust worthy manufacturer for your import business, I invite you to attend our upcoming seminar taking place 6th December 2014, click here to register. Or if you are reading this article after the seminar date, get the 36Hours Audio Training DVD on Importation Business. These trainings took place in Lagos, Warri, Abuja, and PortHarcourt. HOW TO ORDER: click here for order details
B) Attending Tradeshows: Attending tradefairs is one of the best ways to source for a manufacturer, the face to face contact you have during the tradefair helps during your negotiation. And besides, at trade fairs you are likely to get discounts that you normally would not get on a good day if you just send the manufacturer an email or make a phone call. In April this year, we are taking 10 delegates to China for the upcoming China Manufacturers and Importers Tradefair, you can register and join us for this trip by visiting http://www.MyChinaTrips.com
C) Consultants: Using third party consultants to source for products and manufactuers in China is another good channel but you must be willing to add service fee of the consultants to your cost of importing. This can be a reliable channel for sourcing for products particularly if you got to know the consultant through referrals from someone you trust who has used them in the past.
However, for start up importers, this may be the least attractive way to source for your products because of additional cost. So if you ask me, I’d say use online trade portals or visit trade shows to source for your manufacturers. We have compiled a list of over 100 trusted online trade portals which we share with our students on our importers forum http://www.ImportersForum.com ; you can join the forum for access to that list and also attend the upcoming Importation Business Training by clicking here for registration details