Hi, Brendan here from China Import Formula. The biggest stumbling block that I find a lot of people have when they start importing from China is how to choose the right product. Which product out of all the products I could choose from should I pick to start my importing business?
Well, there are 5 key points that you need to consider when importing your product. So, the first thing is try to focus on products you are passionate about. If you are crazy about golf, then why not import golfing products?
Also, the second point is to think about products that you actually have some knowledge in. Say for example, if you’re a tradey then why not import tools? If you know a product, you’d be better at it. If you’re a crazy photographer or cameraman, then import camera-related equipment. These things should be very, very obvious to you. You should have a lot of product knowledge that will help you in the business.
Third point, very important. Import high-ticket items. Don’t spend money on things that will cost, 5, 10, 15 cents like toothpaste and toothbrushes. We can import items that sell for 100, 200, 300 dollars and have multiple products and multiple product lines in the high-ticket range. Because if you’re gonna do all the work, you might as well make the most amount of money for your time.
The fourth thing is to import products that you can bring in in large quantities. What you’ll find in China and in the importing world is that factories don’t want you to buy 1 or 2 of an item. They want you to buy 10, 20, or sometimes even a hundred. So, you wanna bring in things that you can sell in massive volumes.
And, the final thing to remember is that you wanna import products that are very labor-intensive. Places like China have a lot of people who are able to work and build your products. Instead of picking products that require a lot of technology or products that require a lot of capital equipment, if you could err on the side of products that inquire a lot of workmanship from human capital, then you’re best gonna find a product that’s gonna give you the greatest margins.
So, they’re the 5 tips on picking your own product. Hope, you’ll pick a really cool product that’s gonna make you a lot of money and stay tuned to our new tips coming up very soon.