Importing Virgin

[PinkTink]

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Well how do I start.

I recently was looking for a baby related product and realised that it couldnt be purchased in australia. So one thing led to another and we now are in the throws of negotiating a deal to import this product.

The manufacturer is overseas and they have a company in Australia who sells some of this companies products wholesale. The manufacturer said that I needed to see if this company wanted to distribute to me. The Australian agent has agreed to sell me the product.

I asked to be the exclusive seller of this product. They have agreed that I can have exclusive for 1 year from delivery of the first order. Then it will be reviewed each year after that. I am assuming as long as I keep a substantial order that I can retain this.

I have built shopping cart websites before and so can do this side of things myself. I also have a background in advertising and marketing.

What I dont have is the money for the first order. Ive managed to get 65% of the money.

I am not really sure what Im even asking you guys. We are waiting the terms and conditions to make the first order. We are also trying to scrape together the money to pay for it.

We have disclosed the product to a number of people and got lots of good responses. It is a big selling product overseas. We are confident that the product is a sound idea.

Any ideas would be great.

Pinky

[mexham]

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Hi Pinky,

Welcome to the forums, and good stuff on getting your new business rolling.

It sounds like you are onto something good.

Just be careful of not falling into the trap of thinking that by just having a good website and good product that you will sell. Often people assume that if you build a website people will just turn up and buy.

You have a good background so this will help and probably understand there is still a huge amount of work in getting your website noticed, building up traffic and getting good search engine rankings and maintaining.

In terms of the money, you could always look for business financing, or perhaps there are govt grants or assistance..

Good luck.

[Anonymous]

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Hi Pinky,

Welcome to the forums!

What an exciting time for you Hope it all comes together quickly now.

Good luck for your new venture,
Jayne

[PinkTink]

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Hi and thanks for the welcome.

As we are still waiting for the terms Im wondering what the terms are for other ‘solo-ists’.

What are the general terms for importing?

We are going to be close to having 80% of the funds to pay for the first order. As we have to wait 70 days for delivery Im hoping we can pay the rest before hand over.

Any ideas on how I can negotiate this.

As we are new getting start up capital is difficult. We are hocking ourselves to the hilt as it is.

Any experience would be great.

[OCDknits]

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Hi

I have recently found myself in the same situation, needing to fund a big inventory to start my import business (due to the high minimum order requirements). I couldn’t work out a way to get the large amount of cash to get started.

I’ve been reading “Think and Grow Rich” which has been on my bookshelf for many years unread. Reading the chapter on faith I decided that I would have faith and find a way to fund my startup. I went to sleep with faith that it would happen.

Next morning, while researching for my business I went to the manufacturers site and followed a link to shop online. Imagine my surprise when I found that I can purchase as little as one item at about 5-10% more than the wholesale prices I had been quoted. So having faith that I would get a solution worked for me.

I am sure that you will achieve your financial goal by having faith that somehow it will happen, whether that is through negotiation or by obtaining the money or some other way.

I am really enjoying the book and putting into practice what I have read.

Cathy

[Author]

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