When you first started out in eCommerce, you were happy to buy your stock from wholesalers; however, as your business grows and expands, you will find that wholesalers are less likely to stock the amount of products that you require or at a price where you can make enough profit.
So, the next stage in the process is to cut out the wholesaler and go straight to the manufacturer. Manufacturers look to sell vast quantities of merchandise rather than take orders of smaller quantities, so you will have to make sure that you are prepared for the quantities that you are going to order and that you have a strong enough demand to make a profit out of your new stock.
#1 Research products
You should always research your products, and this goes way beyond the price that it will cost you versus the amount of money you will be able to sell the products for. You should also be researching the quality of the products that you are thinking about selling to ensure that you are happy with the products that your customers are going to be receiving, as well as making sure they are congruent with your current product range.
#2 Shipping the products from manufacturers
You will also have to research your options for getting your chosen products from your manufacturers to your business. Although this can be relatively straightforward when shipping across your country, bringing in extra factors like borders and navigating water can make it a little more interesting.
The right freight forwarder
You need to find the right freight forwarder that provides a full service from the manufacturer's warehouse door to yours. There are plenty available, but as a fledgling importer, it might be better to go for a reputable name that has experienced dealings with first-time importers. Also, you need to make sure that this freight forwarder has an established network in the country that you are importing from.
Track additional expenses
Of course, what you pay for your products is not just about what the manufacturer charges you, plus shipping. There are extra expenses to take into account, especially when customs are involved. It will depend on where in the world you happen to be, but some customs processes take longer than others, and delays always mean extra expense. One of the expenses that often catch out new importers is demurrage, and to find out more about what demurrage is, and the costs involved, you should use a demurrage calculator.
#3 Find storage solutions
In addition to researching new products and finding a manufacturer as well as your freight shipping choices, you are also going to have to find additional storage solutions so you have somewhere to store your products before they sell. You can, of course, decide to hire a warehouse or part of one, or you can opt for a smaller option and hire a container from a storage facility. When doing this, it is important to ensure that you can access your products as and when you need to and that there are ample security measures in place to protect your investment.