- Total posts: 42
First of all congrats on taking the plunge. I wouldnt look at this as a failure but a stepping stone to a more profitable import business. International trade has a sharp learning curve and it takes a few shipments and ideally lots of reading/mentoring before you have a solid business plan in place, so my first suggestion is, please dont give up, re-evaluate your business model, crunch more numbers, have a proper spreadsheet for calculating the cost from supplier to your customer’s door, including ebay charges. Set yourself a decent profit margin target to account for contingencies and at least 3% – 5% product return/warranty claims/damaged in transit goods. If you are looking at a $50 product, I would look at at least $20+ gross margin.
Coming on to the MOQ issue, we work with a lot of buyers who cant source factories MOQ and there are lots of work-arounds to this, without having to pay massively more. But the key to success under such scenarios is to come up with “Niche Products” with little competition. When selling online and purchasing in small quantities, the absolute key is to do very solid “product research”.
Good luck with your next import.