A really interesting question that we get asked about a lot from our students and in general people who are interested in having an importing business, is how do we choose suppliers and know which supplier might be right for us to work with?
It’s a really smart question to ask. In fact, if you really are interested in having an importing business then it would definitely want to make sure that you pick the right supplier to work with long term, because choosing the right supplier will either make or break your importing business.
What it comes down to really is about relationships and that is the thing that I focus on the most, when deciding which supplier I want to use ongoing. It doesn’t necessarily come down to price or product, but absolutely the supplier.
Are they easy to deal with? How pushy are they in the process? Do they bend to my specifications? Will they work with me?
Will they change things depending on what I want the product to do, or look like, or feel like? Will they change the aesthetics?
There’s many, many different factors when choosing the right supplier for you. When we’re signing off in the process, I always contact a fair number of suppliers. Around about maybe 10 different suppliers.
I’ll talk about baby cots because that’s what I spoke about in my last video. So if I was interested in importing baby cots, for instance, I would absolutely contact no less than 10 to 15 different suppliers and whittle it down to maybe three that I would want to get samples from.
I think it’s really important to get samples from at least three different suppliers to have a look at how they respond to you, their mannerism, what they expect of you, how easy they are to work with?
Of course, getting their samples over to you. The quality of the work that they have. If you are able to, depending on your finances, of course, and the type of products that you’re interested in importing, can you get a couple of samples of each of the products from each of the suppliers.
There’s a fair bit to think about in choosing the right suppliers because I think the main thing is to understand is this can be a long term business relationship. If you want to have an amazing lifestyle, type of business like we have created through importing, then you need to think long term as well.
That’s what we do. That’s how we go about it, is picking the right people that we feel that we can have a great relationship with and in fact, many of our suppliers overseas.
We make the trip over to China. We visit with them. We dine with them. We get to know them and we talk regularly, that’s even in between different dates of when we order products.
For the Chinese, especially, and that’s what I’m talking about for this particular video, they are really big on relationships as well.
It’s really important to them to have that bond, to have that good relationship going on because they understand that you can get products from many, many other manufacturers, so they really, in their culture, find it an important process that there’s professionalism between each of you and an understanding that hopefully, if things go right on their end and your end, that this can become, indeed, a long term business professional relationship.
So, I hope that a little bit of information helped. It certainly helped us in our quest for importing success and hopefully it will help you as well.
I look forward to seeing you in my next video very, very soon. Stay well. Bye for now.