Hello everyone, I have just joined these forums a few days ago, and read quite a lot in regards to importing and exporting for items on ebay and the likes of such.
I must say this forum has been really really beneficial to myself and wish I came across it earlier.
It has been 2-3 days since I joined, read a lot of posts, and started taking action, I want to be that* guy that imports and exports unbelievable amounts of products to and from the USA while raking in soo much money.
So here is my question/request for some help...
I have to submit a price for 250 tons of salt, I have found a number of suppliers and forwarders to help in the process of meeting the needs of a municipality in California.
Here is what I have received as the lowest price for the product so far and am wondering if I am breaking this down correctly.
So can someone please help me evaluate this?
It would be $ 153 USD per ton, so 250 tons at $153 = $38,250 USD.
I needed it shipped to the port of Oakland California, (closest port to the clients storage units).
CIF, is what gets to me though... CIF as I understand it means, the price is for the Cost, Insurance and Freight correct? I also asked for an update because I wanted them to be the ones to to ship it from the port to my Client as opposed to myself hiring another party in the transaction.
Road salt is: the salt trucks would throw onto the ground when it is snowing, for those that did not know, and is also the product I am importing. Packaging is going to 1000 kg/bag, but the bag part gets to me...I mean, does this now mean, I need to literally hire more people to rip out the bags and then finally dump it under the roof of the lot of the client? Or are they used to receiving things in bags, so it would be fine?
What is the 25MT/20'FCL after the "packing portion" of her message? I think she kind of picked up that I was knew to this all and even freely gave me some terms such as DDP (delivered-duty paid) she mentioned DDU but I didn't ask what that was, so as to hide how I'm new to trading.
She offered the best customer support I would say, and for now, also the cheapest quote I have gotten. And ..."Do you have skype? (i replied no, but it seems I should probably get it)... "We can call through skype, and then I can even hear your charming voice"... haha. She does have a sense of humor I would say.
Regardless...
T/T(30% down payment,70% against copy of B/L) = Electronic Wire Transfer with 30% down payment, and then 70% against copy of B/L, what is B/L? Bill of Lading? or Bill of Landing? I get this term a lot from suppliers and want some more clarification as to how this would work, if anyone would be so kind as to help me for a moment.
And now here comes the more interesting question... I will be submiting my price of the 250 tons of Road Salt to the municipality but how do people come up with what they want their profit margin to be, and to also be the lowest bidder so as to actually be awarded the manciple contract. I read/looked around and found that 10% is usually the rate of importers/agents/exporters, (I'm not even sure what I am doing is called? Import Agent? Broker?)
I just want to
1. Find a buyer of a product.
2. Bid to supply the product.
3. Get paid a portion to supply the product that I would use as a payment to the supplier, that I would find.
4. Arrange shipping/have the supplier include it in their price.
5. And collect final payment, upon which I would take the proceeds of 10%? 5%? (What is a good rate?)
6. Repeat the process, until I am a regular supplier for companies in the USA.
From this sale, my profit would be $ 3,825 :coolgleamA: (If its a 10% added margin to the total price of supplying/shipping), (all within 24 hours time span). This is what I used to make as a quality assurance tester at a software company, for 1 and 1/2 months (WOW WAS I BEING DUPED, working that long for dirt earnings).
Total contract $ 42,075.00 to be submitted, should I go ahead and "do it" or do I need to reevaluate what I am doing because I am missing something?
Please evaluate and suggest/critique/ say anything that comes to mind in regards to this/answer some of the questions posed.
Thank you once again for your time and help.
From Lagron.
I must say this forum has been really really beneficial to myself and wish I came across it earlier.
It has been 2-3 days since I joined, read a lot of posts, and started taking action, I want to be that* guy that imports and exports unbelievable amounts of products to and from the USA while raking in soo much money.
So here is my question/request for some help...
I have to submit a price for 250 tons of salt, I have found a number of suppliers and forwarders to help in the process of meeting the needs of a municipality in California.
Here is what I have received as the lowest price for the product so far and am wondering if I am breaking this down correctly.
Code:
[FONT=times new roman]Dear Lagron,[/FONT]
[FONT=times new roman]Thank you for your inquiry.[/FONT]
[FONT=times new roman]We have given our latest price below.Should you have any questions,you could always reach us.We shall be pleased to assist.[/FONT]
[FONT=times new roman]Road salt :US$153/MT CIF OAKLAND[/FONT]
[FONT=times new roman]Packing: 25kg/bag or 1000kg/bag. 25MT/20'FCL[/FONT]
[FONT=times new roman]Payment terms:T/T(30% down payment,70% against copy of B/L)[/FONT]
[FONT=times new roman]Lead time:Within 7 days after down payment.[/FONT]
[FONT=times new roman]Your early reply will be highly appreciated.[/FONT]So can someone please help me evaluate this?
It would be $ 153 USD per ton, so 250 tons at $153 = $38,250 USD.
I needed it shipped to the port of Oakland California, (closest port to the clients storage units).
CIF, is what gets to me though... CIF as I understand it means, the price is for the Cost, Insurance and Freight correct? I also asked for an update because I wanted them to be the ones to to ship it from the port to my Client as opposed to myself hiring another party in the transaction.
Road salt is: the salt trucks would throw onto the ground when it is snowing, for those that did not know, and is also the product I am importing. Packaging is going to 1000 kg/bag, but the bag part gets to me...I mean, does this now mean, I need to literally hire more people to rip out the bags and then finally dump it under the roof of the lot of the client? Or are they used to receiving things in bags, so it would be fine?
What is the 25MT/20'FCL after the "packing portion" of her message? I think she kind of picked up that I was knew to this all and even freely gave me some terms such as DDP (delivered-duty paid) she mentioned DDU but I didn't ask what that was, so as to hide how I'm new to trading.
She offered the best customer support I would say, and for now, also the cheapest quote I have gotten. And ..."Do you have skype? (i replied no, but it seems I should probably get it)... "We can call through skype, and then I can even hear your charming voice"... haha. She does have a sense of humor I would say.
Regardless...
T/T(30% down payment,70% against copy of B/L) = Electronic Wire Transfer with 30% down payment, and then 70% against copy of B/L, what is B/L? Bill of Lading? or Bill of Landing? I get this term a lot from suppliers and want some more clarification as to how this would work, if anyone would be so kind as to help me for a moment.
And now here comes the more interesting question... I will be submiting my price of the 250 tons of Road Salt to the municipality but how do people come up with what they want their profit margin to be, and to also be the lowest bidder so as to actually be awarded the manciple contract. I read/looked around and found that 10% is usually the rate of importers/agents/exporters, (I'm not even sure what I am doing is called? Import Agent? Broker?)
I just want to
1. Find a buyer of a product.
2. Bid to supply the product.
3. Get paid a portion to supply the product that I would use as a payment to the supplier, that I would find.
4. Arrange shipping/have the supplier include it in their price.
5. And collect final payment, upon which I would take the proceeds of 10%? 5%? (What is a good rate?)
6. Repeat the process, until I am a regular supplier for companies in the USA.
From this sale, my profit would be $ 3,825 :coolgleamA: (If its a 10% added margin to the total price of supplying/shipping), (all within 24 hours time span). This is what I used to make as a quality assurance tester at a software company, for 1 and 1/2 months (WOW WAS I BEING DUPED, working that long for dirt earnings).
Total contract $ 42,075.00 to be submitted, should I go ahead and "do it" or do I need to reevaluate what I am doing because I am missing something?
Please evaluate and suggest/critique/ say anything that comes to mind in regards to this/answer some of the questions posed.
Thank you once again for your time and help.
From Lagron.
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