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    1. Judazz is offline

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      #1

      What are the risks and rewards of sourcing abroad?

      Been working on my profit margin and wanting to branch out. I’m thinking of sourcing overseas, but just not sure. Anyone have advice for me?
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    2. SellerTom is offline

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      #2
      It can seem like a leap of faith at the beginning, but once you have a trusted supplier or two, you’ll be glad that you opened this avenue because the financial rewards can certainly be worth it.

      Your first order is the riskiest, so to minimize the chance of money spent and no goods, make it a small order. This way you can see if the quality is what you’re looking for and if the delivery and payment options suit you. Not to mention that you should verify that brand name goods are actually that, and not fakes.

      You’ll be surprised at how many of your business contacts have done business overseas or know someone who has. Ask them. Getting a referral will often help the deal go more smoothly.

      Certain countries are known for certain products. Do your research and go to the country that’s known for what you are looking to buy. If you sell metal home accessories, look at countries with ample metal resources like China, not the cotton rich countries of South America.
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    3. Samms is offline

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      #3
      Stay away from brand names from China, they’re usually fakes.

    4. SellerTom is offline

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      #4
      Rather than jumping at something that is priced low for what you expect, use common sense. Too good to be true…then it is best avoided.
      You can get good deals abroad where the manufacturing and production rates are lower, but if it seems like a steal…they may be stealing from you

      One of the true benefits of sourcing abroad is that you’re buying straight from the factory, so even with the higher shipping rates, your profit margin is still good.

      Another way that you can be sure you’re getting a good deal is to compare prices from companies in the same region. Investigating several sources is your research…helps you make that informed decision that won’t lose you money.

    5. Judazz is offline

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      #5
      Lot of work, but if my profit margin increases, well worth it.

    6. Samms is offline

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      #6
      Be sure to check out the company. Real address, phone, etc.

    7. SellerTom is offline

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      #7
      A lot of it is really common sense though and checking with others in your niche for referrals, not to mention competitors. See who they’re using.

      And don’t expect big profits quickly. Sourcing overseas is something you need to take time with. It may even take a few shipments to really get a handle on how long it takes an order to arrive.

    8. Judazz is offline

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      #8
      thanks, I really appreciate it!

    9. Samms is offline

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      #9
      Keep an eye for sudden surprises even when the supplies are on time, especially if you're sourcing from a place like China.

    10. saledavidco's Avatar
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      #10
      it is necessary to study the supplier carefully,check their website ,and customer reference. and if possiable ,pay a visit to them and inspect quality before it ship out

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