China is one of the largest economies globally. The whole-sale and the retail sector have a lot of demands for the Chinese goods. If you are a manufacturer or retailer based in China, you have enough opportunities to carve out a niche audience for you. The export and import business of goods and services from in and out of China is also a very lucrative profession. Sourcing from China and to import from china has become a standard process for lots of companies in the west who has outsourced manufacturing due to lower labor cost in China manufacturing. For example in 2017, products to import from china to US has exceeded over 500 billions US dollars.You do not need to be a hardcore strategist or analyzer to infer that you can make big bucks in the manufacturing or retail sector. The main challenge for you is how to find a supplier in China for my product.
China having the largest populace in the world, with a robust economy the competition in the arena is very tough and the zeroing in on a supplier in China for your product is all the more tough. Whether you are a manufacturer, retailer, supplier, it matters not. China has a vast and growing business domain. The overall economics and business environment is very conducive for doing business. It does not matter if you are doing business locally, internationally or outsourcing it, China has a lot to offer you on a platter. However, if you have done the necessary market research you are all set to begin your search for a supplier in China for your product.
Know what you want to do
Before you begin your hunt for a supplier in China for your product, be very sure what you want your product to be. As the proverb goes, ‘Knowledge is power’, if you are well armed with the knowledge and the dynamics of the target market and audience for your product, the answer to how to find a supplier in China for my product would not be that much of a hard task. The market dynamics is closely related with the supply chain and logistics. Where there is a demand, there is a high probability of the presence of a supplier chain over there. Deciding upon what you want to do and making a prototype of your work is very important. So that others cannot steal your originality.
Know the legalese of the land
You should have an idea of the laws and regulations pertaining to your business endeavors. Before you start your business with the supplier be very sure of the existing laws that may affect your partnership. Also, you have to do a thorough study of what you want you should or should not do when doing business with your supplier. You may be a manufacturer, retailer, an exporter or a buyer, but you have to have a solid contract with your supplier crossing all the ‘t’s that would safeguard your business interests. For a healthy business relation, make sure you have in place a solid contract that would protect your interests and prevent cheating and fraudulence.
What kind of suppliers are you searching for
The main challenge for you is how to find a supplier in China for my product boils down to the attribute of the supplier that you are looking for. Do not look blindly for a supplier. Ask yourself what kind of business you want to do and depending upon it choose which suppliers will suit your business best- domestic or overseas. If you are into domestic business, locally or regionally based suppliers would be the best for you. In case if you take up on the domestic suppliers you would make a lot of saving. The expenses that would incur would be much less. You would not have to spend on the travelling and shipping expenses, levies, duties and taxes. Further, the communication procedure will be more streamlined.
Language barrier may pose to be a deferent in communication. Many business ventures have suffered due to lack of structured communication. Payments would be much easier to deal with. You would also have better grip over the property rights. However, you do business overseas and cater to international clients, you may want to look for overseas suppliers. Having said that, if you are on the lookout for suppliers in China for your product, rest assured you are in safe hands. Chinese suppliers have internationally reputed. The import and export statistics prove the mettle.
Why go for Chinese suppliers
China has a robust economy structured in place. The trade relations with other countries are very good. Chinese supplies have a niche audience in foreign markets. The efficient work system and cheap labor will definitely work in your favor. The supplies are not very expensive and the standard of quality is also very high. If you looking to do business in China, it does not whether you are based in China or overseas. If you are based in overseas and willing to do work with Chinese suppliers, you are in for some great profits. You would definitely benefit from the business venture and reap in great profits if you do take on board Chinese suppliers.
Internet is the best know-it-all
These days all the information that you require is available on the internet. There are many websites and portals available that will guide you through your quest of how to find a supplier in China for my product. The main challenge for you is how to find a supplier in China for my product can also be resolved partially by having lots of information regarding certain product suppliers on the internet. Many websites have a list of names of Suppliers with the address and contact details. You may also advertise your concern on your own website or post your query on other websites that lists suppliers’ details, citing that you need a supplier for product. Many suppliers also have online directories. This way you can reach out to a number of suppliers from the various provinces and cities around China. However, be extra careful to deal with someone you met online, and make sure you schedule a factory with the supplier that you have talked to.
Apart from sourcing product from China directly yourself, you can hire an experience sourcing company or manufacturing consultant forproduct sourcing. Actually this is a way preferred by lots of international brands nowadays. By having a broker in their home countries, the imported product are ensured to meet the standard and regulation in the country and by having a supply chain manager for your production is also very important for delivering consistent good quality product. There are also sourcing agent who are dedicated to Amazon product sourcing and Amazon private label, and these are helpful for e-commerce business owners.
Design your product well
A supplier would want to do business with you only if your product has potential to bring in profits. Design your product well so that the product grabs the attention of the supplier. You may also let in the supplier a little bit into your business, so that your plans and endeavors seize the attention and he cannot refuse to do business with you. Keep a few samples handy just in case. Present a good plan and estimate of your profit margin that you think you may achieve to rope in the supplier. Most of the factories now in China are private label manufacturerswhich means they manufacture your private label product via their OEM services. Some of them are able to create prototype in China for you, and therefore try to make the most of it.
Try the good old-fashioned library
Many libraries will give you access to business, suppliers and manufactures’ directories. You may have to pay a nominal subscription charge for it. Your local library may the information in your directories that you cannot otherwise access it even in this day and age of the internet. Many are accustomed to the old-fashioned way of working and still have not developed the virtual acumen. If you want to know how to find supplier in China for my product, do pay a visit to a local library. Renew your library card and buy an immediate subscription.
Word of mouth works best
Spreading the word of mouth is one of the easiest and fastest way of communicating any cause of concern. This is an indirect of networking as well. With this rest method, rest assured you would definitely get some information or experience. You may ask your colleagues of your industry who have been in the business and ask for referrals. You may ask around for suppliers and request to spread the message for you. This method would be a lot easier for you to answer the question of how to find a supplier in China for my product. You will definitely get somebody who can direct you to a supplier. Word of mouth works best this way the suppliers that you get through referrals you know have stood the test of time. The experience would come in handy for you for sure.
Participate in trade fairs and business conventions
Trade shows and conventions are a good solution for you to answer the question on how to find a supplier in China for my product. Trade fairs and business conventions are a good way of networking and gathering new experiences. Trade Expos and fairs are arranged all over China in throughout the world. Many are of international stature. This is a great way of building upon your clientele and connecting with new suppliers. Expos and trade fairs will give you a lot of exposure. You may meet over there with new suppliers who are not only based locally but overseas as well. You would also be able to know about the latest trend and technology used in the supply and logistic industry. Connecting with a lot of suppliers in a single platform, will give you a better knowledge about who you want to take in or not. You would have a new insight to the working of the industry and understand who the best and mediocre suppliers are, what the standard mode of working is, and how the overall system works.
Torsi is a professional blogger.