10 TIPS ON HOW TO MAXIMIZE PROFIT IN IMPORTATION BUSINESS

Without spending out many words, I will briefly be writing on 10 tips on how to maximize profit in your importation business. If you have read little of my articles on importation you should be fully aware of the great profit importing can bring your way. But in real sense no business is truly bad or none profiting but our individual approach to the kind of business we choose matters a lot.

Below are few tips on how to maximize your profits in the importation business and even in other related enterprise you might choose in life:

Lesson 1

Choose a high demanded product:not all products sells just as not all services really sell too. To be a good entrepreneur you have to study the market and know the kind of product and service needed by your customers or the populaces before you enter into the market in other to prevent losing your hard earn money or your investments.

Sometime ago I make some order and the product I ordered was just three jackets with hood. Before I made the order I did not do my market research so well. I made the order with just the hope that it will sell. Yes, hope. But that’s where I made the mistake. In business, it’s a great error to place your market on hope. Hope can’t get you the desired customer or sells that you sort after.

Many businesses have fold up just because they place their marketing and product sells on hope instead of deep market research and analysis. It’s only after you are sure of your market that you can order your products and wait to sell them for a good price otherwise I will advise you to halt for a while, do your analysis and then make a progress.

Lesson two            

Choose a supplier with a competitive price: this is one thing I have learnt to do over the time. If you are using the importation websites for your businesses you are not left out. But it’s wise you take a good watch on the kind of products those distributors or exporters have to offer. This can be done by looking at their ratings and customers commendations about them.

Not all the exporters offering you a good price actually have a good product to offer you. I also have an experience about this issue. Sometime back I made an order, I order for power banks. Though I got what I order for in a good condition but their functionality is far below what I actually expect. Due to this situation I lose market and at the same time lose my money because everything bought from me where later returned to me with the claim that they were not working accordingly.

Choosing an exporter/supplier with a competitive price includes getting a good product at the best price. You know you might be saying but am not in direct contact with these suppliers, nothing much to worry about.

All you need do is look at the rating given to each supplier you intend to trade by those who have had experience with them and select those with the highest rating. Another is to read through the commendations written about each supplier by those customers who have had experience with them on different notes.

Also you have to know that there are thousands of suppliers ready to sell to you especially when you are using the Chinese importation websites for your businesses. So this gives you the opportunity to choose from a wide range of exporters.  But there are some websites that are owned by some individual company

Lesson 3             

Order in bulk: in order to beat down price and get your products at a getaway price, buying in bulk has always been the best idea. Exporters believed once you buy in bulk you are really a serious business person.

Lesson 4

Seek your customer’s advice:customers know what they want best. So in essence for you to get the best selling product for quick sells its fine you make your research properly and your customers are the perfect targets.

Lesson 5

Establish your market before you order: this is one advice I always give to people who want to go into this business. Once you have people who are ready for buy goods you will not have delay selling them out.

Lesson 6

Order rare products:  there are too many common products in town, but there are too little distinctive products they really catch the eyes of people around. Buying the regular goods might not give you quick market.

Lesson 7

Choose a supplier with high credibility: most of the suppliers are more of middle men. Meaning they are the manufacturer, they also buy from the manufacturer and resell them. On most of this importation site, most of the people you meet there are middle men or wholesalers. They receive your orders, add their own gain to it and then proceed to the manufacturer to get the products.

So get a credible one, search for the one that sell at a lower price. Secondly, while looking for a credible seller check for their ratings. On most online web sites there are space where customers are giving chance to rate sellers for others to see. So always pick sellers with higher ratings.

Lesson 8 

Sell at a competitive price:  what aids fast sells includes quality, good marketing strategies and good price. Though people like quality, they also want them at a good price. So if you can offer them all it will give an edge.

Lesson 9

Establish a good relationship with your customer: another thing that makes most customers return back to buy from you is might be that they did not see others around to buy from but because they love the way you approach them, and treat them. It’s just normal; we are attracted and also love those who treat us right.

Lesson 10

Render an after sales service: good businesses are not just after the profits or what they get from their customers alone, they are also searching for way to make their customers more comfortable and satisfied. Even after your sells you can as well give your customers something that makes them happy and that will not them forget you in time. It might cost you something but it’s worth it.

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