Are you fed up with paying exorbitant rates for goods you buy domestically? High prices are probably cutting into your profit margin; and the reason prices are high is because you are not only paying for the goods you bought, but also for the cost of importing. You are also paying middlemen for making these goods available to you domestically.
If you are a small business owner like me, then you can hardly afford to pay more for products that you could just as easily procure yourself for less money.
Import It Yourself
If you don't want to pay high prices for the goods you need or the middlemen for getting these goods for you, then what you need to do is start importing goods yourself. While it is generally better for a new business to purchase goods domestically for a little while, if you have an established business, it is a better option to import them yourself.
You need to know that the wholesale price that you are getting is not what you are actually paying for an item. This price usually includes all the costs involved in the entire importing process, from import duties to insurance expenses. You also need to be aware that the shipping will take time. So if you need some goods by a certain time, make sure you order at least two months in advance. There are a lot of reasons why your shipment may be delayed, so be prepared and plan accordingly.
Also, make sure you take care of the legalities involved in importing goods. You need to be aware of the laws of all the countries involved, including your own.
Get a Customs Broker
If you do not know how and where to start importing goods for your business, it is better to get a customs broker. They will help you through the entire process, including legal processes, customs duties, insurance issues and other activities required for importing goods. It's better to pay a customs broker than to be completely clueless about what you are doing.
At first, importing goods on your own may seem complicated, but by following the steps above you will find that your business will save money in the long run.
