Low cost of production in China among other factors has reduced the price of products from China. The biggest challenge is deciding which product is good for you to import. So as to make enough profit, you need to have a plan.
For you to be a successful in your importing business, you must decide which product will give you maximum profit when you import it. We are going to look at the top ten products that are imported from China and their advantages. First, let’s look at the tips that you should consider while choosing a product.
- A product that can be shipped in high quantity. It is cost saving if you ship a product in high quantity. This will reduce the cost of shipping by having all the products shipped together instead of shipping one product at a time. Shipping from China one product at a time will be very costly.
- The profit that you are going to make. The profit that you are going to make on each product matters. Search for a product that you will be able to sell at a high price.
- Love what you are doing. You will be successful if your heart is the business. You need not to be selling a lot for you to be successful. Be contented with what you have but have a plan to make it bigger. Motivate yourself and find the right information to guide your throughout the business.
China is making luxury cars such as BMW, Audi and Mercedes Benz to be available to foreigners at affordable prices. There is a new rule from Shangai making the place a free trade zone. This legalizes the process of selling cars to the US and other countries. There is a program known as parallel import which aims to reduce vehicle prices and the buyer gets about 20% in discounts. If you buy a car from China at a low price then get a discount of 20%, you can sell it in the US market and make a lot of profit.
You can read more about the decrease of car prices in China here.
Iron And Steel
The demand for iron and steel is high. China is the largest producer of steel and the largest importer of steel is from the US by more than 17%. This means that the demand of steel is high in the US and China is selling their iron at a lower cost than other countries due to reduced cost of production in China.
Plastic has a lot of applications and uses, such as cosmetics, laptop cases, etc. The Green Fence Program in China has lowered the price of plastic in China, which means you can buy it at a much lower cost and sell it for a higher profit. Depending on the type of plastic you import, you can then sell the plastic to industries that need them.
Read more about the Green Fence Program.
If you are just starting to import from China, this is a perfect starting point. You have a lot to choose from and the cost per unit is low. The tariff is free for some countries, while in other countries it goes for about 7%. This is a wide field which you can decide which brush you want to sell and they are all in demand. These categories include: brooms, brushes, paint pad, squeegees and mechanical floor sweepers.
The price of apparel in the US has risen in the past 12 months and is expected to continue growing. About 78% of footwear, 71% of ties and 55% dresses imported by the US is supplied by China. The demand for clothes is high in the US and getting supplies from China allows you to make a high profit.
Knitted And Crocheted Apparel
The advantage of importing clothes form China is that you can import a lot at once. They are lightweight compared to other products, and are easy for you to store as well. China has increased their cotton import and hence they are making more clothes and selling at a low cost. Because people have different tastes and fashion is continuously changing, apparel is one field that you can invest on and get a lot of profit. Researches show that the import of clothes has increased in US recently, meaning that the demand is getting higher.
Shoes And Other Footwear
Footwear is among the largest category of goods bought in the US, with an amount of about $17 billion. This is can be considered as a get-rich-quick field. Just last year, US citizens spent over $29 billion in shoe stores. In 2013, the US imported 81% of footwear from China. There are several things that make the cost of footwear low in China. These include low taxation, low material costs and the cost of production is very low. The best thing about shoes is that they tend to sell fast so you will make your profit fast as well.
The ongoing recovery in the real estate market and the decrease in unemployment rate have increased the demand for house furniture. There is an increasing trend of US importers who deal with house furniture. The export of furniture to the US has grown by 35% every year. Chinese furniture producers are working closely with other companies so as to raise the quality of their furniture.
The cost production per square foot in China is $3 to $4 which is low compared to $15 production cost per square foot in the US. After taking care of all the other expenses, a container in China is 20% to 30% cheaper than in the US. By importing furniture from china, you can easily make more than 50% profit.
Toys, Games And Sports Equipment
When you are importing any product into the US, you must check the restrictions and the requirements. Importing sports equipment is legal in the US and the supply from China is high in this field. The demand for sporting goods and toys is also very high for kids. You will be able to import these products at lower costs and easily sell them for a high profit.
Art And Art Accessories
Importing art from China to the US can be a high profit business. Pastels, drawings and paintings are in high demand in the US market. And the great thing about this is that they are tariff free.
Most of the products mentioned here are wide niches which you can niche down to create a specialization. Niching down also allows you to find a sweet spot in the buyers’ market so you don’t have to compete with everyone else. Importing from China gives you a lot of options, so make sure that you choose your products wisely.