Hi Everyone,
I've been a member on here for about a year now. I read the book last year and have been on the forum regularly. Just this month I left my 55+ hour a week job and now actually have the time and will power to get something done. I had an Insiders membership for about 6 months, read just about everything I could, but never took action. I've promised myself that I'll only get another insider membership if I take real action and get a real system put in place.
I'm going the e-commerce importing route. I'll sell initially on Ebay, once I have branded packaging sell on Amazon and setup a website. I found a product I like on Alibaba. I contacted about 20 Chinese suppliers and narrowed it down to four, then ordered samples from each company. Only one company had a variation of this product that stood out from the rest. This exact variation isn't currently being sold in the US. I know I shouldn't rely on only one supplier for my product. But so far this is the only company whose product is actually durable and works as advertised.
This supplier's pricing is also the highest out of all of them. At about $7 per item with no MOQ. The other 3 companies they ranged between $2.00 to $5.00. Most of these companies aren't even asking for a MOQ, which seems weird, they only have a MOQ if I'm getting custom packaging. The one company I tried to negotiate with (after samples) didn't want to budge at all on the pricing, I got him down only $1.00 after telling him the order could be as big as 1,000 ever 3-4 months in the future. I'm going to be selling this on the higher end of the market which is at most $38.00 retail. Is there a tactic that I should try as far as negotiation?
I've been a member on here for about a year now. I read the book last year and have been on the forum regularly. Just this month I left my 55+ hour a week job and now actually have the time and will power to get something done. I had an Insiders membership for about 6 months, read just about everything I could, but never took action. I've promised myself that I'll only get another insider membership if I take real action and get a real system put in place.
I'm going the e-commerce importing route. I'll sell initially on Ebay, once I have branded packaging sell on Amazon and setup a website. I found a product I like on Alibaba. I contacted about 20 Chinese suppliers and narrowed it down to four, then ordered samples from each company. Only one company had a variation of this product that stood out from the rest. This exact variation isn't currently being sold in the US. I know I shouldn't rely on only one supplier for my product. But so far this is the only company whose product is actually durable and works as advertised.
This supplier's pricing is also the highest out of all of them. At about $7 per item with no MOQ. The other 3 companies they ranged between $2.00 to $5.00. Most of these companies aren't even asking for a MOQ, which seems weird, they only have a MOQ if I'm getting custom packaging. The one company I tried to negotiate with (after samples) didn't want to budge at all on the pricing, I got him down only $1.00 after telling him the order could be as big as 1,000 ever 3-4 months in the future. I'm going to be selling this on the higher end of the market which is at most $38.00 retail. Is there a tactic that I should try as far as negotiation?
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