2. search for contacts from:
~alibaba.com
~madeinchina.com
~official website
~Google it
3. Verification
~verify the suppliers product knowledge
~verify supplier business reputation through business contact
~verify supplier's distribution role ( Wholesale/distribution/retailer)
~purchase sample from supplier
~must call them directly
4. Negotiation
~ request quotation from 3 different suppliers base on MOQ
~term of sales,- return, defects, replacement
~payment terms
Eg: Less than $1000 use Paypal is cheaper for the services charge but more than $1000 then use TT will save more
~deliver period/ product release date
~shipping term/method and cost
5. Market research
~estimate actual landed cost incl. tax, duty and shipping cost
~estimate profit margin by comparing with local & international CMV (Current market value)
~acquire relevant permit.doc
~decide your selling platform and selling methods
6. purchase order process
~sign sales agreement ( if any)
~Issues official purchase order
~process payment (Paypal/ Telegraphic Transfer/etc)
~payment confirmation/delivery date
~shipping instruction
7. Clearance and delivery
~ pay import duty and sales tax
Arrange for delivery
Verify food upon delivery
8.Quality checking
~check product quality & quantity
~file dispute with vendor if any
~proper labeling and stock records
9. Selling process
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- Do not source or buy any products that you dont have the selling experience to avoid fraud cases. because:
1. you do not have enough experience to identify the authenticity of the products
2. might get over-priced deals due to lack of dealing experience with suppliers
3. do not know how to resolve a dispute with the supplier
4. shipment stuck in customs due to clearance issues
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