How to Turn Chinese Imported Products Into Profitable Businesses

As of right now, China is the world’s top exporter of goods. The number of businessmen who have made millions of dollars only by selling Chinese goods is similarly high in several nations. Bangladeshi small and medium-sized entrepreneurs currently import a variety of goods from overseas in order to conduct business online.

Some companies in Bangladesh import goods straight from foreign vendors. These firms offer a wide range of services to address all issues that buyers or merchants typically have while importing items from foreign vendors, including customs clearance, VAT-tax, LC, and shipment-related issues.

However, the items that are ordered through these middlemen frequently don’t look like the ones that are shown on the website. It takes a long time to deliver, too. Approximately 70 to 80 percent of the product’s cost must be paid in advance, even at the time of ordering. Consequently, it is risky for small and medium-sized business owners to pay upfront and order goods while waiting a long time for them to arrive.

Let’s go into great depth regarding a few ways to import goods from China in today’s topic.

Guidelines for bringing goods into the country from China:

Importing items from China can be done primarily in two ways

1. Bring products with you and travel straight to China with a passport and visa

Purchasing goods straight from China costs more money. Typically, Bangladeshi small company owners use passports and visas to travel directly to China to purchase goods. Because Xinjiang offers higher-quality products than other Chinese cities, traders from Bangladesh and other nations travel there to purchase goods.

The cost of a visa and rent for traveling directly to China to purchase goods is approximately one lakh taka. But after you view the thing for the first time, you can purchase it and then make plans to transport it without physically visiting.

2. Purchasing items by looking at them online

A view of purchasing products for online import of Chinese goods. | Photo: Collected.

Without having to bother about customs, VAT, tax, LC, or shipment clearance, small and medium-sized business owners can purchase business products by placing their orders and making payments directly on the websites of intermediary businesses. However, the issue is that customers frequently do not receive the identical product that is displayed on the website because of the Chinese supplier’s error. Furthermore, there is no assurance that a refund will be given in this industry because the merchandise is a cross-border transaction and cannot be returned to the Chinese merchants. For small business owners, it’s also risky to pay in advance and wait a long time for goods.

China Online BD provides the country’s traders with the ability to import genuine goods more quickly to lessen the risks or difficulties they face. On this platform, company owners can purchase goods for their companies from up to one million Chinese suppliers, totaling around 20 crores. The platform works directly with local Chinese suppliers to provide products bought by domestic enterprises in as little as 12 to 24 days at reasonable pricing with the lowest shipping costs.

Additionally, you can buy goods from Alibaba.com, the biggest wholesale website in the world. We go over the entire process of creating an account and making purchases on Alibaba.com:

Register on the Alibaba website

Account for importing Chinese products on the Alibaba website. | Photo: Collected.

On Alibaba.com, accounts can be divided into two categories. Buyer and seller accounts. A buyer is someone who will purchase the product, like you, and a seller account is someone who will wholesale the product. On the other hand, the same account can be used for both buying and selling.

Caution in Cellar Selection

When buying products from Alibaba.com, merchants should consider the categories when making their selections. When choosing a seller, start by attempting to choose a gold provider (special feature) vendor.

A vendor must pay Alibaba a charge of USD 1250 annually to be listed as a gold supply seller. In exchange, an Alibaba staff goes to the seller’s workplace in person to confirm that everything is operating as it should. Therefore, it is ideal if the vendor of the product is a gold provider.

Check the product’s cost

Check if the product’s price is “FOB” or “CFR” after that. FOB indicates that the product will be delivered to the port of your nation by the vendor, but you will be responsible for paying the shipping costs. The seller will deliver the item to you with the transportation cost if CFR is indicated on the merchandise. However, the listed price is frequently a little higher or lower than the real price. Therefore, send the seller a direct message to get the price and the total cost, including delivery to Bangladesh.

Import the sample

Samples of the product should be examined following careful vendor and product verification. E-samples are often sent for free by the seller after the transaction is completed. However, if the product is pricey, it could be necessary to buy the first sample.

Costs of imports from China

Typically, when sellers buy goods from Alibaba.com, they pay using Western Union. However, if you’d like, you can also use a credit card that supports two currencies to make the payment.

The courier fee will be 2000 Taka for items weighing 1 to 1000 grams and 3000 Taka for items weighing more than 1000 grams if the vendor ships the item to you by DHL, FEDEX, or TNT. Therefore, the nature of your product has some bearing on your import costs.

How long does it take for products shipped from China to arrive?

A view of importing Chinese products from China. | Photo: Collected.

TNT, FEDEX, and DHL couriers typically take seven days or longer. When things are shipped from one country to another, it takes some time to comply with all the rules and regulations. However, you can pick up the items by DHL courier if you would like it within five days.

Before placing your order, you should be aware of the product’s country of origin and construction. The pricing may be a little higher if you are dealing with a different dealer instead of the original manufacturer.

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