This post is the continuation of step by step guide on how to import goods from china. In my previous article I showed you how to create your own import business and make extra cash.
But my previous article did not go further to show you how to start at once …
So without further delay, I leave the guide that will help you choose good products to sell, along with the list of reliable suppliers in the US and China. Let’s start then.
What is a good product?
If you have not read my article on step by step guide on how to import goods from china. . I strongly recommend that you do it before going further, since it will make you see the general concept of what we want to do.
Now what we have to do is understand what I mean when I say “product”
What is a good product?
When I first started with my import business, that mentality of trying to satisfy everyone was what made me lose a good amount of money .
Each “niche” in which I got involved made me lose money. The samples were eating my capital and it seemed that the only way out of that trap was to resign.
In a desperate attempt, I started buying products with which I was consistently making money. What I discovered is that the those niche were not lucrative.
You see, you need to look for a good profitable product to sell, not a profitable product for you to operate in a niche. If you are looking for a profitable product for a niche, you will never find the right product.
You will be completely be overwhelmed looking at mountains of information that is not relevant to what you are trying to do.
In other words, look for a good product and position yourself in that niche.
The only exception to this would be if you want to create a brand or branch.
But still, it would probably be better to start with a product, one that will be more profitable and that you can beat more than others.
If you want to make a good and easy extra income, then you do not need to worry about creating a brand or adding new products yet. What you should be interested in is finding a lucrative product to sell, and sell it.
What is a good product?
Now that you know you are simply looking for a single product to sell, you need to know a few things that qualify the product as “good”.
There is a specific midpoint where you are going to look.
I would suggest that you read the following list a couple of times before you go ahead, that you learn the points and why you consider them. Voucher?
Good products are …
- Small and lightweight to make it easy to lift – the bigger and heavier, the more it costs to send it in and out (not to mention returns and storage). I never dealt with a product that was large and heavy. So I do not suggest that you do it either …
- Specific, niche product regularly – Again, you will not sell things like “necklaces” or “watch necklaces”. You want it to be a specific product.
- Sell it to consumers between $ 15-300 USD – I am completely sure that there is a lot of money to earn in products beyond this range, but you will need a lot of capital to start. You can always try, you just have to know that it will be risky. Most items below 150 are even more difficult since most of these markets do not have enough volume to create a good amount of income. Furthermore, markets that have sales volumes below 150 are typically led by large importers that can work at small margins.
- Constant flow of buyers – You need something that will be sold consistently throughout the year and also in the future. So do not buy cases for the iPhone 4 just because they are giving you a super price – that product will have fewer and fewer buyers. You also do not want something that is seasonal, like Halloween costumes or Christmas ornaments.
- Sell it for double the price of the one you bought it – I would not even look at a product that has less than 100% profit margin, which is a 50% margin. I suggest you consider very seriously looking for these products because that’s where the money is. There are times you can sell it for three times the price you bought it if you pay close attention to this point.
Now that we have seen the products where the money is, we are going to touch the products that you should not get your hands dirty with.
Bad products are …
- Mechanical things that demand high quality and excellent guarantees – you definitely do not want to be dealing with things like table saws, hydraulic elevators and manufacturing machinery. That’s just a headache ready to annoy you (maybe it’s worse than a headache …)
- Things you find easily everywhere – if you’re thinking about things that are already being imported by the retail giants, you’re going to burn. We are trying to find a product for a specific niche with a consistent network of buyers where we can lower the current sales prices. This is the best way to reduce risks when investing.
- Fragile and requires perfect conditions of sending – Not a simple headache, but a latent nightmare …
- They already have a good number of sellers who are taking the product in large volumes – if you are thinking of selling something like headphones, you do not want to choose the headphones that already have 10 resellers that already sell thousands of products per month.
- You need to find products that do not have a lot of sellers, but the products that are being sold consistently.
- Do not let any competition discourage you, but do not try to start selling socks and be able to compete with 20 companies that already sell 20,000 socks a month directly from the factory. Look a little further.
- Trademarks – Do not buy anything that has registered trademarks such as pirated bags and purses. Anything with the US trademark will not get you very far. What are sold are sold but it is a bad foundation to start your business.
Note that these are just my recommendations based on how I wanted my import business to be.
I am sure that there is money that can be made in products that break any of the rules I mentioned previously, but I can only help readers with what I know that works according to my experiences.
Keep in mind that some products with which I did not succeed fall perfectly into those categories mentioned above.
The list above is only a framework to guide your thoughts, a filter so that your ideas are encouraged before getting into business to save you time and money.
Good products are:
Lightweight: this is very important because it saves shipping and handling costs, it will also help you if for some reason you have to send products directly to your supplier.
Simple: what you want is to find a product with a good margin for manufacturing errors, so if you have a defect you may still be able to sell it. That is why I do not recommend electronics, a small defect in one of the components makes the whole product unusable and you will lose money.
Between $ 10- $ 200 usd . In this range is where most people buy their products, I speak of the middle class. That’s where we have to aim, in this range is where most of the population buys and therefore that’s where the money is.
It is popular and is being sold: it is a way of saving work (and also money) because if you choose a product that people already want, it is likely that when you import it, it will also be sold like hot bread.
Where to get ideas for your products.
The first thing you should do is identify the products, there are many ways in which you can do this, usually the most difficult part is to find ideas due to the large number of products there are.
This is what I do:
1.- Ask the people: friends, relatives, close people etc; facebook is a tool that you can use for this. Of all the information they give you, filter the one that is most relevant to you.
2.- take a notebook with you or use the notes of your phone. When you go out and see products that seem cool or interesting you can write them down in your notebook and then you can look for similar products.
3.- Look on the Amazon page of your location for the most sold products and on eBay the most popular products of the moment and then you can look for something similar or even something that you consider to be better or more current.
4.- A product that solves a problem that you have. Maybe you bought a physical product before and you felt that something was missing or that it was not well done. You could look for one that is better than that. If it is a discomfort or disagreement that you have, it is very possible that more people also have it.
5.- Product that solves a need or helps people: What problem can you solve with your product? For example, Some bands for the head, plastic nasal dilators, a guard for the mouth etc. That’s where you solve a latent need by presenting a more affordable and accessible product for most of the population, those are the products that are worth gold.
You have 3 options when choosing your products:
- A unique and novel product.
- A product that already exists in the market.
- A combination of the first two options.
A unique and novel product. – here you have a clear advantage and that if nobody else is selling it means that only you will have a monopoly with that product, which means that you can generate margins of up to 300%; until the competition realizes that it sells very well and they import it later.
Do not let that alarm you because the moment they realize that your product is successful in sales, you have already made a good money with the product and when they publish it, you will have a better reputation which will help you sell more and, at the same time, you will be one step ahead looking for another unique and novel product to take advantage of it in the same way.
An existing product in the market: If your product fits into this category, you will go safely because the product has been tested in sales and comments from happy customers, so it will not be very difficult to sell them. Remember that in this business everything is about the PRICE.
Suppose there is a vendor that has the same product, say $ 499, then you will put $ 498 to appear in the lower-priced filter; something common that buyers do when looking for products digital stores.
A combination of the first two options: As the name says, you can combine the two types of products. A unique and novel product which will be juicy in profits because no one else will have it and at the same time you can sell one that already exists in the market and has been tested and validated by previous buyers. This can help you to make the products you choose more interesting and dynamic.
What you should keep in mind when you are looking for your products …
What you are looking for is a product that you can sell at least 100% profit in the worst case. Do not forget that it is what makes a good product and what makes a lousy product in the first post. If you find a product that fits all the features of a good product, and in the worst case you can still make profits twice as much as it cost, then add it to your “worst case” list. When I say the “worst case” I mean that at least you have some profit margin.
Unfortunately, finding ideas to have good products can be a tedious process due to the number of articles that exist and with so much potential.
Here is one of the ways I use to have ideas with which I can start my search …
- seeing objects that are around the house, street or stores and then thinking how to turn it around: Plastic cups with designs, children’s musical instruments, things for children,
- things that have been fashionable in recent years: Colored lights, items of superheroes, support for laptops, accessories for go pros …
- things that people buy impulsively. novelty toys, refrigerator magnets with designs, toys that give you electric touches, toys for pets etc
- to things that I give randomly in amazon and on ebay: kitchen utensils, party lights, decorative pillows, wedding gifts, etc.
- things that I think about while doing the searches. As they say, one thing leads to the other and when you least expect it you already found a good product that you can add to your list.
Remember that the minimum price that you must sell to earn profits is at least a margin of 100%.
That is the ideal sale price because with this you will cover your costs to operate and still have a net profit and it will be better if you can sell it more than 3x its purchase value. These are the products that will make you MONEY.
Tools that you will need. Suppliers and samples.
- Alibaba: This is the wholesale store of the chinese.
- Aliexpress: The retail store of alibaba, without a doubt one of my favourite sources to look for your products and buy your samples. This is an excellent tool that will allow you to make comparisons of products that interest you because it gives you a reference of how well it is sold, how it is sold and what the buyers of a specific article say. Once you have the product that you like, ask for samples.
- eBay USA: your new best friend. This is where you will find the list of products with Chinese and US suppliers. Suppliers gathered in one place. It is one of my favourite pages to buy and request samples of products to import. The best thing of all is that it has a form of secure payment with Paypal to any provider that is there.
- Light in the box – Another page where you can find good products either to sell or for your own personal use. The prices are good.
- Amazon best sellers: Another excellent place to see what products are being sold in the United States. There are many opportunities here as there are new releases of new products either from recognized or generic brands, it certainly gives you an advantage since you can import products fresh from the oven. One of my favourites also when making personal purchases.
- Focal price: A Chinese supplier with thousands of products to offer at a super price. I have purchased several times for my samples and most of the products have a decent quality. Check out the offers of the month since you can save some money.
- Taobao and 1866: these are Chinese sites that are 100% Chinese. they have the cheapest goods so far.
These 5 suppliers are undoubtedly the best for me when finding a good product to sell.
Of course, you can try to search with other providers out of this list, the important thing is to accept payments with Paypal or have a money back guarantee in case something should happen; something that with these providers you do not have to worry about.
I await your response and comments below.