Before you can begin selling your products, you must buy them, and ideally at a cost that will allow you to earn a profit when you sell them. Inventory sourcing is the process of buying products to run your business.
It is usually the first step that people find the most daunting. Photographing products making listings as well as dealing with customers and managing a budget are all things the majority of people have attempted at one point or another in their lives.
However, finding, negotiating, and working with suppliers and manufacturers is a new experience for the majority of sellers.
This may seem like a huge task but, as you’ll see that it’s much easier than you imagine. And, depending on the approach you decide to take, you may not have to collaborate with any of the suppliers.
It’s time to head out and find items to start the Amazon business. We’ve got additional tips to help you get your business off the ground and ensure you get the most value for your items.
1. Easily Find Your Products on Alibaba
You can locate a supplier when you’re looking for items on Amazon with SellerApp’s product sourcing tool.
Check out this guide to know how to source products from Alibaba to Amazon FBA.
2. Get Samples
If you’re working with a manufacturer, be sure to obtain an initial sample before proceeding with the purchase.
Many manufacturers will give free samples that allow you to examine the quality and offer feedback. Don’t place an order with an individual manufacturer until you’ve held it in your hands and you’re certain that it’s exactly what you want.
3. Negotiate a Good Price
The majority of wholesalers and manufacturers will negotiate prices. If you think you’re paying too much or their offer isn’t compatible with your budget, don’t hesitate to make them an alternative proposal.
4. Choose the Right Shipping Method
If you’re dealing with suppliers from India, China, or other countries, you’re likely to require your products shipped to you. There are two major shipping methods available: sea and air.
Shipping via boat is less expensive, however, it may take up to a month to get your goods. The cost of air freight can be high however, you’ll receive your goods in just a couple of days.
Assuming that your goods are light and compact transporting them via air generally is the best choice.
5. Calculate All Your Fees
Make a list of all costs involved in you are sourcing your items. Keep in mind that it’s not just the price of the products that you purchase. Also, you must include the cost of shipping along with any other expenses that may arise when sourcing items.
Make sure you include these in add these to your Amazon FBA fees to get an accurate picture of the price of every product. This will enable you to decide on the appropriate price for your sale.
The process of sourcing products that earn money isn’t a problem. If you take the correct steps and select the best strategy for your company, it will be a short time until your inventory is fully stocked and you’ll have everything you need to sell your products.
Recommended Guide: How to improve sales on Amazon.