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  • Customs and Importing - The Legal Matters | SaleHoo
    supplier to take as much of the risk on board as possible Let s take a look at the various shipping terms now First is Ex Works where You are responsible for all costs once merchandise leaves the supplier s door FOB With FOB the supplier pays for everything up to the Port of departure including the export charges CIF Cost Insurance Freight In this case the supplier pays to send the goods to the port of destination and arranges the minimum cover marine insurance Then you have DDU Delivered Duty Unpaid where the supplier pays for all costs to deliver to the buyer s door with the exception of duties DDP CARRIAGE PAID Delivered Duty Paid The supplier delivers to the buyer s door and pays all of the costs including duties The most common shipping quote is FOB or Freight on Board This means that freight costs to the point of loading are included in the price I should point out that FOB factory has quite a different meaning altogether Freight on Board Factory means that you pay onward costs to the local port or airport and this can increase the price considerably particularly if the company is situated inland A better quote to get is CI F or Cost Insurance and Freight This means that in addition to the FOB price you ve been quoted insurance and freight costs This is ideal as it means you can budget much more effectively Or if you are very lucky DDP where you pay the price of the product delivered to your door The cost of your shipment will depend on the weight or volume you ship You will either need a Full Container Load or a Lesser Container Load For a full container load the standard container sizes are 20 foot and 40 foot in length and can accommodate whatever mixture of products you choose The shipping cost includes the use of the container although you can buy a container if you are making very frequent purchases If you are purchasing from one supplier the container is taken to their premises loaded on site sealed and collected for onward shipment to your country For multiple suppliers you can arrange to have all goods delivered to your freight agent who will load all the goods at their premises Full Container Loads are the most efficient way to ship as cost savings can be made on packaging and less labor is required Apart from the obvious advantage of the lower freight cost the additional Export or Import processing and Handling Haulage costs are all more economical as processing a full container is calculated as a single transaction If you are not importing a full container load then your shipment will be consolidated along with other company s goods traveling to the same destination The rates applied to a Lesser Container Load are calculated by the volume your goods take up in cubic meters Lesser container loads are not as economical as

    Original URL path: http://www.salehoo.com/education/importing-shipping/customs-and-importing-goods-legal-matters (2016-01-08)
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  • 4 Myths of Wholesale Buying | SaleHoo
    provides easy access to many wholesalers and it s a quick way of making initial contacts However it certainly doesn t provide access to all wholesalers If you re serious about finding the best wholesale prices for your products then it pays to check out other sources as well Try looking through trade magazines such as Closeout News and Wholesale Merchandise to name just two With fewer people vying for stock there s a good chance you ll find some exceedingly good prices tucked away in the corners And another thing in my experience building up personal relationships with sellers is absolutely essential for getting the best priced goods So whether you ve found your supplier online or in a magazine make a phone call start up an email exchange or have regular chats on MSN and get to know them The time you spend building a relationship will not only mean you re in a stronger position to get better prices but because you know your supplier you ll be more confident that things will go smoothly when you finally do place your order Myth 3 Pricing research is unnecessary and takes up too much valuable time Whenever I mention this one people always chorus But of course we know research is important Well why don t you spend more time doing it then The amount of people that pass over pricing research constantly amazes me Everyone always agrees that it is important to research prices but when it comes down to it they seem to think that they just know how much items cost wholesale and how much profit they are likely to make later But how can they just know Prices are constantly in flux and carrying out some decent and yes time consuming research is essential to a successful business for two reasons 1 Firstly it s important to get a good idea of the average resale price for your item before you get started For a number of popular items DVDs electronics and computer games in particular the profit margins tend to be very low Despite this many sellers just see the popularity of the item and dive in head first Overly saturated markets just mean a hell of a lot of work for very little in return Throw big established sellers into the mix and it s almost impossible to compete But you won t know this until you research it first So visit auction sites read classified ads and any material you can get your hands on until you have a good idea of exactly what you re going to get 2 The second reason for research is that your preconceptions of value may be completely wrong People have a tendency to believe that wholesale automatically means a fifth of the retail price This is usually totally out of line Some sellers have emailed me in shock when they realize that they actually have to spend a significant amount of money on their

    Original URL path: http://www.salehoo.com/education/finding-sourcing/debunking-the-myths-of-wholesale-buying-2 (2016-01-08)
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  • Stuck on What to Sell? | SaleHoo
    to products related to your interests Selling products you love is not only motivating it is also a heck of a lot easier Let s say you decide to sell designer fashion because you see it sells well although you personally have never been interested in fashion Pretty soon each day will become a struggle when you have to force yourself to work on something you don t enjoy Running your business will quickly become something you dread and it s highly likely it won t succeed On the other hand when you share your buyer s knowledge and passion you ll find it a lot easier to make good business decisions because you know your market and feel excited about what you do Do you love hockey board games or movies Perhaps you feel excited about the thought of new gadgets and technology It s likely that there are plenty of other people who also share your interest which gives you an instant audience for your product Write down your interests and then make a list of products that are related to these interests The next step is to research your ideas There is no point selling something that thousands of other people are already selling nor is there any point trying to get people to buy something that they don t want Look for niche markets that have low competition and high demand and be prepared to continually adjust your market as the demand changes Unfortunately you can t simply create an idea and then just sit back and watch the profits roll in Things change so rapidly on the Internet that to be successful requires making constant tweaks and adjustments to your idea to fit changing demand Luckily we ve created a special piece of software to

    Original URL path: http://www.salehoo.com/education/finding-sourcing/what-can-i-sell-on-ebay (2016-01-08)
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  • What Sells Best on eBay? | SaleHoo
    How badly does the sun reflect off the view screen What does the warranty cover Some people even rang me to ask their questions and unfortunately I was woefully unprepared From this experience I learned that a electronics are risky to sell if you don t have a full warranty b I find it hard to sell products I am not interested in and c buyers expect you as the seller to know what they are talking about if you don t they lose confidence Nothing beats knowledge gained from experience and selling stuff from around the home is the best way to get it without risking too much After some practice with goods from around the home I recommend buying small wholesale lots of products that most people use on a daily basis Many of these products are excellent sellers plus they are fairly easy to get hold of A lot of new sellers make the mistake of trying to be all things to all people In fact it is far better to target a specific group At first this may mean sales are slower as you get to know your market but in the long term it will mean you ll be able to target your market much more precisely and reduce the chance of having stock on your hands that you can t shift Here are some ideas for everyday products you can start selling Clothing accessories plus sizes maternity wear night wear Kitchen recipes knife sets toasters microwaves Beauty sunscreen insect repellent cosmetic toiletry bags men s grooming Home decor towels sheets rugs throws cushions vases mirrors Special occasion wedding supplies party supplies mother of the bride outfits bridal shoes birthday cards Garden lawn mowers gardening tool sets composter Another hint I can offer is to sell Hobbies and Interests related products Prior to eBay collectors were limited to the items they could find in their local area or country The Internet in general has enabled many new communities to form around shared interests and for you the seller this provides new niches to target eBay s Buyer report tells us that one of the top reasons buyer s use eBay is to find unique items that they can t find elsewhere A quick browse of eBay s community groups will give you some ideas There are groups as diverse as knitting stay at home moms business hiking gluten free support group vegans travel children s theatre dieting parenting re enactors crochet stamp collecting pet fish the list goes on Remember that many of these hobbyists will not only require a base product but also components For example you may decide to sell embroidery threads tools and patterns and how to books car parts fabrics and trimmings If you want to come up with more ideas on what to sell keep an eye on The Media It is essential that you keep tabs on what is happening in the news if you want to pick up

    Original URL path: http://www.salehoo.com/education/finding-sourcing/what-sells-well-on-ebay (2016-01-08)
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  • How to Find the Best Dropshippers | SaleHoo
    a test email will tell you a lot about the quality of service you and your customers are likely to receive from the company For example email the listed contact address and ask a few generic questions about the products e g how much do I need to spend to get a discount What is your minimum quantity order See how long it takes them to reply and look closely at the quality of the answers provided Did they thoroughly answer your questions Were they polite Ask about warranties guarantees shipping policies and return policies Everyone gets returns at some point so you need to make sure that you won t have to foot the bill There are several ways you can find the best drop shippers 1 Searching Online This is risky but perseverance will pay off soon enough Searching with keywords such as your product name drop shipper is a good way to start Just remember the best suppliers site s aren t always on the first few pages of search results 2 Trade magazines Distributors and manufacturers pay to advertise in these magazines so it s an excellent way of finding current contact details An easy way to find trade magazines in your area is to search Yahoo s Business directory 3 ThomasNet If you are looking for components anything from boot heels and microwave components to seals and gaskets then you will find the excellent online list of distributors and manufacturers on ThomasNet useful The global register Thomas Global is also worth checking out 4 Paid Directories SaleHoo has an extensive list of reputable suppliers but be careful many paid directories are scams It s not uncommon for users to pay for access only to find outdated links or links to sites asking for more money

    Original URL path: http://www.salehoo.com/education/finding-sourcing/how-to-find-the-best-dropshippers (2016-01-08)
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  • Pros and Cons of Dropshipping | SaleHoo
    sell so you remove the risk of holding stock and being stuck with it if an item doesn t sell No minimum order you don t need to have a lot of cash to get started For new sellers the main advantage of drop shipping is the lack of risk But for more advanced sellers I believe that the greatest benefit drop shipping holds is the ability to offer more choice You may have heard the phrase long tail it s a bit of a marketing buzz word In a nutshell the long tail means targeting the far corners of niche markets that are normally untapped by selling a lot of low demand products Experts have worked out that when added together sales of low demand products actually exceed those of single products with very high demand Drop shipping enables you to take advantage of that strategy very easily For example a DVD seller using a drop shipping supplier could promote 400 000 different DVDs They are able to make money by selling a lot of low demand products without any risk or storage inconvenience This gives the DVD seller a massive advantage over regular DVD stores Moving on to The Drawbacks Probably one of the most common problems sellers have with drop shippers is sudden stock shortages A sudden rush for a particular product might cause the drop shipper to sell out leaving you in a bit of a sticky situation if you ve got orders to fill When you drop ship items you will be paying 2 5 dollars more per item compared to sellers who purchase in bulk This can make it difficult to compete on marketplaces like eBay especially if you are selling popular items like iPods or laptops Selling deep niche or unique items suits the drop shipping model better Having no control over your inventory means that if buyers ask you for a unique photo of the item you are unable to meet their request Drop shippers aren t perfect but if they stuff up you get the blame and you might get bad feedback placed on your account if you are selling on a marketplace If the supplier packages the item poorly causes delays in shipping or makes a mistake with the order then you are held responsible even when there is very little you can do about it Let s quickly recap on what we have covered in this lesson Drop shipping allows you to sell products before you purchase them from a wholesaler The benefits of drop shipping are There is very little risk for you because you don t have to invest money you don t have to store stock or ship items and you can offer your buyers a wide range of items without having to front up a lot of cash The drawbacks are that sometimes stock shortages occur and you have to refund your buyer because your supplier is out of stock Sometimes when you drop ship

    Original URL path: http://www.salehoo.com/education/finding-sourcing/the-benefits-and-drawbacks-of-dropshipping (2016-01-08)
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  • How to Get a Tax ID | SaleHoo
    return and any sales tax you collected from buyers in your area during the previous quarter must then be paid to the government along with your return 2 Business setup and documentation Getting your Sales Tax ID is one of the steps you need to take in order to set up your business properly and completely Some accountants and tax attorneys will be reluctant to even start drawing up paperwork for your business until you ve obtained your Sales Tax ID and any other relevant IDs or designations the law requires for the business entity you ve chosen e g an LLC or S corp 3 Financial responsibility Once you obtain your Sales Tax ID you re permitted to start charging sales tax to any buyers located in your area state county and or city depending on the specific laws in your area It s illegal to charge sales tax to buyers in your area if you haven t yet obtained your Sales Tax ID However if you DON T charge sales tax to your local buyers after you ve started selling products you ll end up having to pay those taxes out of your own pocket or face legal trouble This means that you need to obtain your Sales Tax ID immediately preferably before you actually start doing business If you ve already launched your business and you ve sold items to buyers in your area again be prepared to pay the relevant sales taxes to your state and or local government out of your own pocket 4 Opening accounts with suppliers Many US suppliers will require you to provide them with your Sales Tax ID before they will do business with you Requiring you to give your ID number is one of the ways a supplier can verify your legitimacy as a business and make sure you re not a consumer who s just trying to obtain products at a significant discount How to get a Tax ID In most cases it s actually quite easy to obtain a Sales Tax ID Most U S states have an automated process set up for obtaining a Sales Tax ID right from their websites Oftentimes obtaining a Sales Tax ID is integrated into the entire process of registering your business with your state and or local government so that going through the automated process on your state s website will take care of everything you need to set up your business according to your state s guidelines Every U S state maintains its own state website It s usually www statename gov For all the states with websites that don t follow that format I ve provided the links below California Massachusetts Minnesota New York North Carolina South Carolina South Dakota West Virginia When you get to your state s website look for a link or button that says Business or something similar to that and click on it to go to the commerce section of your state s website

    Original URL path: http://www.salehoo.com/education/business-setup/four-reasons-to-get-a-tax-id (2016-01-08)
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  • How to Make Quick Cash to Kick-Start Your Product Sourcing Business | SaleHoo
    last year s clothing like dresses with tags still attached shoes that are too tight or too high to walk in but it seemed like a great idea at the time the spare room another gold mine where you might find spare furniture gifts that you never used video games a spare TV maybe and a few old Halloween decorations And don t forget your room the kids room clothes they grew out of are great for selling online the bathroom kitchen and living area appliances that you never use and old wedding cutlery still in the original box and perfume that makes you feel sick are all items that can go from trash to cash For each room you ransack make three piles 1 stuff to throw out 2 stuff to sell and 3 stuff you want to keep Get set to sell Take pile number 2 and have a good look at what you have to sell You ll know straight away what will sell for a lot and what might take a while to get rid of For the more valuable items spend some time looking through online listings and seeing how much the stuff sells for to get an idea of your potential earnings As soon as you can get out your camera and take some great looking photos of everything you have to sell Aim for using natural light in the middle of the day this might have to be a weekend task and go outside if you can Otherwise just use a lamp and a large sheet of white cardboard for photographing your smaller items Keep in mind when taking photographs that a great photo is essential to evoking interest from buyers It s proven that sellers who use 4 or 5 good quality photos which really show off the item s features are much more likely to sell than those who use 1 or 2 photos with poor lighting which don t show the item and all its glory Once you have your photos all in order it s time to list Set aside a bit of time to do this especially if you have never done it before eBay makes the whole process super easy but it can be time consuming for first timers When the money starts rolling in from your buyers resist the urge to go out and spend it because we have bigger plans for that money to become the seed to grow your own online business Jump onto eBay and start looking at wholesale lots Yep you guessed it you are about to make your first ever wholesale order This is the perfect way to spend your earnings from around your home because not only does it earn you more cash and get you one step closer to doing some big wholesale buying it ll give you some experience in market research in managing your listings and dealing with customers Now is the time to get started If

    Original URL path: http://www.salehoo.com/education/business-setup/how-to-make-quick-cash-to-kick-start-your-product-sourcing-business (2016-01-08)
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