10th to 12th DECEMBER, 10:00 - 18:00
Dubai World Trade Centre
When you hear “Import from China” your mind will navigate through shattered expectations, misplaced trust, communication struggles and the occasional unreliable suppliers and more negativities you may have encountered by your own self or seen on media. Contradictory, it is globally accepted that China remains as the default supplier to the world. Though you hear tragic fails sometimes, if you know the right way the success will be yours.
Follow these 6 steps for success.
selecting the perfect product
Before you introduce the product to the market you must consider that you should control minimum 20 various cost areas only when importing. You must consider
Risks and acquiescence – rules & regulations, standards, permits and approvals.
Standard cost of product development – Make sure your supplier possesses the right production knowledge and skills and if he can deliver the product with perfect details
Minimum Order Quantities (MOQ) –In domestic Chinese market the standard quantity of an order is 10,000 units. Therefore, if you are in the beginners’ stage of your business or if you are a small business owner that would not be the right choice.
2. Choose the perfect supplier
The trade shows are the best places to find, shortlist and start negotiating with suppliers. The benefit you gain is you get the opportunity to meet them in person. That will help you to find out the perfect manufacturer for you and you can always negotiate better when you meet the supplier in person. Online supplier directories are helpful too.
3.Develop A MARKET READY PROTOTYPE
The most important stage. We always motivate the importers to develop the porotype in their home market. Because it is a struggle to communicate when the manufacturers are overseas, use that time to work on your prototype.
4. Know how to protect your business
Before you commence, get legal advice from a qualified lawyer. You do not pursue any enforcing, an IP breach or supplier indiscretion in China.
Know the shipping terms because the product is your responsibility from the factory/port to your front doorstep. If it goes missing, damaged, held up or seized you will most likely bear the loss. As an importer you are responsible for ensuring your product is compliant with laws, standards and regulations
5. Commencing an import order
Start your negotiations by the very first inquiry to the supplier. Chinese business culture is significantly different. To make the supplier agree to your terms and conditions, do not follow a submissive manner but learn how to express in a more precise and clever way. Right communication is always the key. And when it comes to China your best risk management strategy will be a close working relationship.
6. Shipping and product launching strategies
Get your product quality inspections done in China and make sure that the final product is up to the market standard.
Select the shipping method, Shipping through Airways is the quickest, but it is costly, do that if you got a small order. But if you order in bulk, you must ship and decide if you will do a LCL (Less than Container Load) or FCL (Full Container Load).
Product Launch The best thing is to start marketing even before your product arrives. Launch your product online at your earliest. By doing that, when your product arrives you are going to have a thriving e-commerce website, engaged social media network and even wholesale customers lined up.
Category : Business