The practice of importing wholesale, low-cost goods from other countries, and locally reselling them at a profit has now become more popular in the trading industry. Cheska Freight, an industry expert in the Philippines, believes that using a licensed customs brokerage service will ensure accuracy in every step of the importation of wholesale goods.
As this is a sensitive process, there are many requirements that you — as a reseller — have to fulfill before having the goods in your hands. Here are some tips every reseller should know to secure a smooth and successful import business:
Know Your Purpose & Be Knowledgeable About What You’ll Be Selling
Understanding the reasons you want to venture into this kind of business will help set the pace for your business. It may be because you’ve used these products yourself and want to share its benefits with others. It can also be as simple as seeing it as an opportunity to apply the business-mind in you. Knowing your purpose is always a helpful head start for any business venture.
Know How to Choose the Best Product(s) to Import
If the product idea didn’t come first in your business planning, you can always do research on current trends or niche markets. Goods that have a high demand may be the first on your list. This option is ideal for sales experts who know their way around the buyer’s journey. You can also choose a product for niche markets, giving you a more targeted audience for reselling.
Know What to Keep in Mind
Always ask for samples before ordering in bulk, and be prepared to handle shipping costs. You don’t want to end up with bulk orders you can’t resell. Avoid reselling designer goods, too. Other than the fact that it’s more expensive, you can run into delays in customs clearance or worse, confiscation of goods.
Staying smart and professional in all your business dealings will help you grow the company you’ve always dreamed of.