So here it is: Everything we have ever learned about importing.
Our step-by-step hacks on how to make $1,000 a month importing from China.
Yes it can be scary, difficult, frustrating, down right painful, but if you follow our guide and stick to it, you will reap all the rewards and then some that the far east has to offer…
Search for Products
The first thing we need to define a “good product”. This is probably the most important question.
In the beginning almost everyone is drawn towards electronics because they are fun and interesting. But let me ask you this:
When was the last time you bought something electronic that was not made by Sony, Apple, Samsung, etc?
Probably never, me either. But like an idiot, these were the first products I tried to import. Don’t be like me. You do not want to compete with these companies for market share.
This is what we are looking for….
Requirements for a Profitable Product
Light weight: This is important because it saves on shipping charges and if you do have to deal with a return for some reason it will not kill you to ship stuff back, the last thing you want is to be shipping something heavy all over the country.
Simple: You want a product with a large margin for error. If there is a defect in the product ideally you should still be able to sell it. That is why we do not do electronics, a small defect with electronics and the whole product is worthless.
Between $10 – $200: This is where the majority of the world purchases products the ‘middle class’ of products and the middle class is what we are after. That is where all people are and thus all the money is.
How to Get Product Ideas
The first thing you need to do is identify products, there are a lot ways you can do this, and the hardest part is usually coming up with ideas to research. I usually do the following.
- Ask people what problems they are having Facebook and reddit are both great places for this, usually I just ask people questions about what things they use in their everyday lives that they have trouble with or could use improvement. Check out this reddit post here, this is how I do it.
- Keep a notebook where I jot down things that I see everyday that I think are cool or interesting. I made a short video about this and some shipping info.
- Look through Amazon Best Sellers and Ebay Popular to see if you can piggyback (we’ll define this later) or improve a product.
- Try to solve problems that I have. The most obvious problems are hard to solve because you have been dealing with them forever, so next time something seems a bit annoying or dumb take a second and think if there is a way to improve it.
Research for Money Makers
Terapeak is an awesome tool for identifying products on eBay and Amazon. It’s also simple to use, all you need to do is input the product you want to research and TeraPeak will give you some sweet analytics. Like sell through ratio, sales volume, and the trend over 30, 60 and 90 days.
Another awesome tool is Camel Camel Camel. CCC is a free tool that allows you to track pricing trends from Amazon over time so that you can easily see whether a product is trending up or down. Another great thing about CCC is you can get an idea of where to price your product in order to be competitive.
Here is a screenshot of MorphSuits, I use to sell a ton of these:
As you can see the price is trending down, so I would not do this product now. When you see a chart like this it usually means there are too many sellers now and the market has been oversaturated.
Searching for Suppliers
Alibaba is without a doubt the holy grail of Chinese factories. Anyone who is anyone is a member AND its not CHEAP, so people that are listed on there are either (A) Serious Factories or (B) Serious Scammers. Below I am going to show you, step by step, how to vet suppliers and make sure you are not dealing with a scammer. [click to continue…]