1: Introduction
Avoid these common pitfalls when sourcing products from China!
2: Outgrowing Your Supplier
Mistake #1: Outgrowing Your Supplier
➡️ Don’t stick with the same supplier as your business grows.
➡️ Find a larger supplier with better quality and prices.
3: Pre-shipment Inspections
Mistake #2: Not Getting Pre-shipment Inspections Done
➡️ Crucial for avoiding costly mistakes.
➡️ Ensure goods meet your expectations before they ship.
4: Product Testing
Mistake #3: Not Getting Product Testing Done
➡️ Legal or industry standards may require testing.
➡️ Comply to protect yourself from liability.
5: Understanding Payment Terms
Mistake #4: Not Understanding the Correct Payment Terms
➡️ Typically, pay a 30% deposit after confirming a pre-production sample.
➡️ Pay the remaining 70% after goods are shipped and inspected.
6: HTS Codes and Shipping Costs
Mistake #5: Not Fully Understanding HTS Codes and Shipping Costs
➡️ HTS code determines import duty taxes.
➡️ Understand shipping costs to calculate profit margins accurately.
7: Conclusion
Avoid these mistakes to streamline your sourcing process and maximize profitability!
