Not shortcuts, but strategies for success
We can now be considered quite a global society, thanks not only to cheap air travel but also to the internet! It is easy to see both macroeconomic and microeconomic differences between USA and other countries, and our thoughts naturally turn to how we can exploit these differences for a profit! Importing can be a fantastically profitable exercise, but without some planning, awareness of protocols, smart buying strategies and a willingness to outsource when necessary, the seemingly simple process of how to import to Australia can all turn to a pile of nothing. Today we look at what successful air and sea freight importers do to ensure USA’s success.
Know Your Basics
If this is your first time importing, you’ll need to get an overview of each stage of the process of how to import products from China and sell to USA that can be problematic. Research each of these stages separately:
Sourcing products at a good price
Cheap transport, via either sea freight or air freight
Customs and quarantine regulations
Creating a market for, and awareness of, your product
Thousands have done the hard yards ahead of you, and as a result of that our most commonly imported goods are non-industrial transport equipment, clothing, footwear, textiles and other consumer goods.
Due Diligence on Market Viability
Sure, we know that you would buy whatever you’re importing to USA. But will anyone else? Some ways to find out for sure include:
Checking out the industry that your product fits into on the USA Bureau of Statistics website
Searching for any relevant reports from IBISWorld research
Checking out your competition by looking through the phone book, searching in Google, and having a look on eBay
Getting some benchmark data to use in comparison with your competitors
Checking out Google Trends or Google Adwords for keyword search volume for terms related to your idea or product
Looking at similar products listed on eBay, and which items have the highest number of bids
Due Diligence on Suppliers
It is advisable to go over to the country you’re thinking of importing from and meeting your suppliers in person. In some countries where exporting is common (such as China), there are local procurement teams available who will liaise with local suppliers on your behalf, as well as with your sea freight company. However, legislative gaps between different countries means that things can still go wrong, so have as much personal contact as possible before engaging a team.
If you have a particular company in mind to be your supplier, you’ll need to contact them first and ask if you can be their Australian distributor. You can then negotiate special discounts for bulk quantities, etc.
Trade fairs are another fantastic way to meet and compare suppliers.
Knowing how to import to USA puts the world at your feet, but it can also put a lot of responsibility on your shoulders! Seek expert advice and strong partners in the legal, sea freight, customs broking and overseas trade industries, and you’ll have a recipe for success.