As an entrepreneur, does not matter on a large scale or a small scale, a good way to make sure your business stays on top is importing products. This will be easier, cheaper and will make sure it increases consumer spending. But importing goods is no an easy task and there are a few complications that need to be worked out before you go ahead with it. Here are some important tips/details that need to be considered if you want to import products straight to your business location.
Order sizes and times
Leading times for product orders are usually a bit long. When you place an order you would have to be ready to wait for at least 2 months or more. Most manufacturers will also be requiring a small advance payment before they start making your order. This initial cost may go towards covering the cost of raw materials the manufacturer needs. When placing an order, a small order might cost more than placing a rather order. It’s rather a benefit to the entrepreneur if they go ahead and place a hefty minimum order.
Shipments to Consider
Once the products are ready to be delivered, shipping them would cause problems unless you already thought of a way to get it done correctly. Shipping products through air and sea are two major ways of dealing with the hassle. Shipping through air is the most expensive and would usually cost five to six times more than it costs to ship by sea. When it comes to shipping by sea, the most important factor that would be a big help is having a good customs broker. They are a must, especially if it’s your first time importing products.
They would take care of a few very important details such as customs documentation, customs entry, customs duty and customs single entry bond. Another point to invest in would be a freight forwarder, this may seem like an added expense but it would be best to have aid from every option possible. These would seem like a rise in funds needed, yes, but it would definitely reduce the hassle you have to go through to get your goods so it’s actually worth it. Your products would be shipped swiftly and without a problem. Visit this link http://www.bollinger.com.au/exporting/ for more info on freight forwarder in Sydney.
Handling the Payments
Payment would go smoothly if you develop some sort of mutual trust between your manufacturer and yourself. As mentioned above, usually manufacturers require an initial payment for raw materials and the rest of the payments would be done when the products are ready to be shipped. To make things even easier there are services put up that will handle payment details for you. Quality might be a slight issue at the beginning but it could be resolved.