Importing Products

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Importing Products

Have you seen something overseas that you know is going to make an absolute killing in the Australian market?

If you are looking to import products to sell in Australia, it can be a very attractive business proposition. Provided you can source your product at a good price and be able to get it over here without it breaking the bank, and being able for it to pass through customs and quarantine.

There must already be a ready and willing demand for the product in Australia, andyou may then very well have a booming business comnig into your hands. But there are many "ifs" and "buts" that can spoil the dream along the way. Most people import proiducts into Australia becuase the product is distinct from anything other that is available locally, or becasue it is able to be sourced at a cheaper price.

It is wise to weigh up the pros and cons of importing products, as transporting costs, government duties, insurances and any other hidden costs can potentially blow your sums out of the water and leave your importing dreams in tatters.

Before you consider importing a product, it's wise to find a supplier in Australia who might be able to provide a similar product at a comparible price.

The first thing you need to establish, is if there is a viable market for your product here in Australia. If all is looking good, establish a marketing plan of action for selling the product here in Australia. Are you going to market and sell the product yourself, or are you gonig to use a third party source?

Can you afford to do it? You need to know the various costs involve in bringing your product to the Australian market. These prices include the exporters selling price, the price to get the product to the airport or shipping port, charges at the point of loading,  freight costs from loading to arrival, port discharge prices, insurance costs, clearing charges, customs duty, gst. As you can now see, there are many costs involved when considering importing products.

Find your supplier. Once you have established there is a market for your product, and it is economically viable to import, it is now time to start looking for a supplier.

Cutting Through. Your product must pass with government regulations. The products will need to be cleared by the Australian Customs Service, which regulates all goods that are imported into Australia.

Knuckling down on price. You will need to start nutting out a price with your supplier. Be specific in your quotation and include what your requirements are concerning price, quantity, trading terms, packaging and delivery, and payment terms.

When negotiating terms with your supplier, keep in mind that the quote you receive, constitutes a formal offer. If you accept the offer, you create a legally binding contract. Be sure to be happy with the terms of the agreement before you sign off.


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