An Easy Way To Find Wholesale Suppliers With MINIMAL Work (w/ Sourcing Agent)
Published on: December 9 2022 by MyWifeQuitHerJob Ecommerce Channel
An Easy Way To Find Wholesale Suppliers With MINIMAL Work (w/ Sourcing Agent)
The above is a brief introduction to An Easy Way To Find Wholesale Suppliers With MINIMAL Work (w/ Sourcing Agent).
Let's move on to the first section of An Easy Way To Find Wholesale Suppliers With MINIMAL Work (w/ Sourcing Agent)!
Table of Contents About An Easy Way To Find Wholesale Suppliers With MINIMAL Work (w/ Sourcing Agent)
An Easy Way To Find Wholesale Suppliers With MINIMAL Work (w/ Sourcing Agent)
startTime | durationTime | text |
00:00:00 | 00:00:04 | are you looking to sell your own branded |
00:00:02 | 00:00:05 | private label products online and are |
00:00:04 | 00:00:07 | you having problems finding a reliable |
00:00:05 | 00:00:09 | factory or supplier to make what you |
00:00:07 | 00:00:11 | want to sell well if so then using a |
00:00:09 | 00:00:13 | china sourcing agent can save you both |
00:00:11 | 00:00:15 | time and money and i've used a sourcing |
00:00:13 | 00:00:16 | agent from my e-commerce store over at |
00:00:15 | 00:00:18 | bumblebee linens and i've found success |
00:00:16 | 00:00:20 | finding factories that will produce |
00:00:18 | 00:00:22 | practikally anything that i want so in |
00:00:20 | 00:00:24 | this video i break down all the |
00:00:22 | 00:00:27 | trade-offs and costs with using a china |
00:00:24 | 00:00:27 | sourcing agent |
00:00:32 | 00:00:35 | now a sourcing agent is a specialist |
00:00:33 | 00:00:37 | that connects you with factories in |
00:00:35 | 00:00:38 | china to produce your products and they |
00:00:37 | 00:00:40 | can also help you with packaging your |
00:00:38 | 00:00:43 | products shipping your products quality |
00:00:40 | 00:00:45 | control and price negotiation now a good |
00:00:43 | 00:00:47 | sourcing agent typically lives in china |
00:00:45 | 00:00:48 | and acts as your trusted advisor on the |
00:00:47 | 00:00:50 | ground they'll help you locate |
00:00:48 | 00:00:52 | manufacturers that you cannot find on |
00:00:50 | 00:00:54 | directories like alibaba or global |
00:00:52 | 00:00:56 | sources they also have a strong network |
00:00:54 | 00:00:59 | of trusted factories freight forwarders |
00:00:56 | 00:01:00 | and inspection companies for your review |
00:00:59 | 00:01:02 | now i'll go over the pros and cons of |
00:01:00 | 00:01:04 | using a china sourcing agent and whether |
00:01:02 | 00:01:06 | they are worth the money |
00:01:04 | 00:01:07 | now how do you source from china well |
00:01:06 | 00:01:10 | when it comes to importing products from |
00:01:07 | 00:01:11 | china there are six basic steps that you |
00:01:10 | 00:01:14 | must follow you have to know exactly |
00:01:11 | 00:01:16 | what you want to sell you must identify |
00:01:14 | 00:01:17 | a chinese supplier that can manufacture |
00:01:16 | 00:01:20 | your products you must work with your |
00:01:17 | 00:01:22 | supplier to create a golden sample you |
00:01:20 | 00:01:24 | must negotiate with your supplier on |
00:01:22 | 00:01:26 | cost for your first bulk order you must |
00:01:24 | 00:01:28 | hire an inspector for quality control |
00:01:26 | 00:01:31 | and then you must manage the logistiks |
00:01:28 | 00:01:32 | for shipping stuff to your warehouse now |
00:01:31 | 00:01:35 | once you've found a reliable supplier |
00:01:32 | 00:01:37 | managing all of the above is relatively |
00:01:35 | 00:01:38 | straightforward but when you're first |
00:01:37 | 00:01:40 | starting out it can actually be |
00:01:38 | 00:01:42 | intimidating to source your first |
00:01:40 | 00:01:44 | product from china now here are your |
00:01:42 | 00:01:45 | options and overall there are four main |
00:01:44 | 00:01:48 | ways to source private label products |
00:01:45 | 00:01:50 | from china so option number one you can |
00:01:48 | 00:01:52 | find your own suppliers with directories |
00:01:50 | 00:01:53 | and trade shows now finding your own |
00:01:52 | 00:01:55 | wholesale suppliers is by far the |
00:01:53 | 00:01:57 | cheapest way to source your products |
00:01:55 | 00:01:59 | from china and using a directory like |
00:01:57 | 00:02:01 | alibaba or global sources you can |
00:01:59 | 00:02:02 | quickly and easily find factories to |
00:02:01 | 00:02:04 | manufacture the products that you want |
00:02:02 | 00:02:06 | to sell in addition you can use the |
00:02:04 | 00:02:08 | jungle scout supplier database to find |
00:02:06 | 00:02:10 | out which factories your competitors are |
00:02:08 | 00:02:12 | using now here's how it works every |
00:02:10 | 00:02:14 | shipment that arrives to the us by c is |
00:02:12 | 00:02:16 | documented on the public record the |
00:02:14 | 00:02:18 | jungle scout supplier database allows |
00:02:16 | 00:02:20 | you to browse these records to find |
00:02:18 | 00:02:22 | suppliers for any brand here's a video |
00:02:20 | 00:02:24 | that demonstrates how to use this tool |
00:02:22 | 00:02:26 | now if you're willing to travel |
00:02:24 | 00:02:28 | attending the canton fair is a great |
00:02:26 | 00:02:30 | place to meet thousands of suppliers in |
00:02:28 | 00:02:32 | person all in the same place now while |
00:02:30 | 00:02:33 | finding your own suppliers is convenient |
00:02:32 | 00:02:35 | and inexpensive you have to know what |
00:02:33 | 00:02:37 | you're doing so for example you must |
00:02:35 | 00:02:39 | learn how to approach a supplier and |
00:02:37 | 00:02:40 | negotiate the lowest price you must |
00:02:39 | 00:02:42 | learn how to perform quality control and |
00:02:40 | 00:02:44 | import products from china and you must |
00:02:42 | 00:02:47 | learn how to manage your own supply |
00:02:44 | 00:02:49 | chain now option number two is to hire a |
00:02:47 | 00:02:51 | sourcing agent a sourcing agent is an |
00:02:49 | 00:02:53 | individual that helps you connect with |
00:02:51 | 00:02:54 | reliable manufacturers and they are |
00:02:53 | 00:02:56 | responsible for pre-vetting your |
00:02:54 | 00:02:59 | suppliers and find the best factory that |
00:02:56 | 00:03:01 | meets your specific needs a sourcing |
00:02:59 | 00:03:04 | agent will also negotiate on your behalf |
00:03:01 | 00:03:06 | and act as a liaison with your supplier |
00:03:04 | 00:03:08 | in addition most sourcing agents have a |
00:03:06 | 00:03:10 | rolodex a reliable freight forwarders |
00:03:08 | 00:03:12 | and customs agents to manage your entire |
00:03:10 | 00:03:14 | supply chain so overall a sourcing agent |
00:03:12 | 00:03:16 | will save you time but their service |
00:03:14 | 00:03:18 | comes at a price |
00:03:16 | 00:03:20 | now china sourcing agents are typically |
00:03:18 | 00:03:23 | paid a flat rate for their services or |
00:03:20 | 00:03:25 | by taking a percentage commission based |
00:03:23 | 00:03:27 | on the overall cost of your order option |
00:03:25 | 00:03:29 | number three buy from a trading company |
00:03:27 | 00:03:31 | now a trading company is a middleman |
00:03:29 | 00:03:33 | that works with many different factories |
00:03:31 | 00:03:34 | across the entire supply chain to |
00:03:33 | 00:03:36 | provide you with products to sell |
00:03:34 | 00:03:38 | however you have limited customization |
00:03:36 | 00:03:40 | options and you must sell what's already |
00:03:38 | 00:03:42 | in their catalog now buying from a |
00:03:40 | 00:03:44 | trading company is a good option if |
00:03:42 | 00:03:46 | you're on a budget and you can't afford |
00:03:44 | 00:03:48 | the high minimum order quantities of a |
00:03:46 | 00:03:50 | factory in china option number four is |
00:03:48 | 00:03:52 | to use a service company a service |
00:03:50 | 00:03:54 | company is a business that specializes |
00:03:52 | 00:03:57 | in helping you find a reliable supplier |
00:03:54 | 00:03:59 | negotiate cost perform quality control |
00:03:57 | 00:04:00 | and manage freight forwarding now |
00:03:59 | 00:04:02 | working with a service company is |
00:04:00 | 00:04:04 | similar to hiring an individual sourcing |
00:04:02 | 00:04:06 | agent except that service companies |
00:04:04 | 00:04:09 | typically do not give you the contact |
00:04:06 | 00:04:10 | information of your factory in fact most |
00:04:09 | 00:04:12 | service companies keep their supplier |
00:04:10 | 00:04:14 | contacts tight to their vests because |
00:04:12 | 00:04:16 | their network is their main value add |
00:04:14 | 00:04:18 | now similar to a sourcing agent service |
00:04:16 | 00:04:21 | companies take a commission based on a |
00:04:18 | 00:04:23 | percentage of the overall order cost now |
00:04:21 | 00:04:25 | why should you use a china sourcing |
00:04:23 | 00:04:27 | agent well even though you must pay a |
00:04:25 | 00:04:29 | china sourcing agent a commission based |
00:04:27 | 00:04:30 | on the cost of your inventory they can |
00:04:29 | 00:04:32 | save you both money and time now |
00:04:30 | 00:04:35 | establishing contact and building trust |
00:04:32 | 00:04:37 | with a chinese factory is not easy |
00:04:35 | 00:04:39 | because most large manufacturers are not |
00:04:37 | 00:04:41 | willing to work with random buyers you |
00:04:39 | 00:04:43 | must establish a relationship first now |
00:04:41 | 00:04:45 | a good sourcing agent already has close |
00:04:43 | 00:04:46 | ties with many different factories and |
00:04:45 | 00:04:48 | combined new manufacturers that would |
00:04:46 | 00:04:51 | normally not give you the time of day |
00:04:48 | 00:04:53 | in addition many top tier suppliers |
00:04:51 | 00:04:55 | cannot be found on alibaba and in some |
00:04:53 | 00:04:58 | cases the best suppliers online can only |
00:04:55 | 00:05:00 | be accessed by a native china sourcing |
00:04:58 | 00:05:02 | agent with established ties |
00:05:00 | 00:05:04 | now here are the main benefits of using |
00:05:02 | 00:05:05 | a china sourcing agent they can help you |
00:05:04 | 00:05:08 | pre-screen factories to produce your |
00:05:05 | 00:05:09 | products negotiate prices on your behalf |
00:05:08 | 00:05:12 | communicate with factories if you don't |
00:05:09 | 00:05:14 | speak chinese perform quality control |
00:05:12 | 00:05:16 | and inspections find low-cost freight |
00:05:14 | 00:05:17 | forwarders to ship your goods and even |
00:05:16 | 00:05:19 | if you already have reliable suppliers |
00:05:17 | 00:05:21 | for your business you should probably |
00:05:19 | 00:05:23 | reach out to new factories to make sure |
00:05:21 | 00:05:24 | that you're getting the best price now |
00:05:23 | 00:05:26 | it's also beneficial to have backup |
00:05:24 | 00:05:29 | suppliers in place in case of production |
00:05:26 | 00:05:31 | mishaps or product shortages |
00:05:29 | 00:05:33 | now how much does a china sourcing agent |
00:05:31 | 00:05:34 | cost a china sourcing agent will charge |
00:05:33 | 00:05:36 | you a commission fee based on the cost |
00:05:34 | 00:05:38 | of your order and typically the |
00:05:36 | 00:05:41 | percentage charge decreases as your |
00:05:38 | 00:05:42 | order size increases for example here |
00:05:41 | 00:05:44 | are the fees for jinx sourcing which is |
00:05:42 | 00:05:45 | a sourcing company that i've used in the |
00:05:44 | 00:05:47 | past |
00:05:45 | 00:05:49 | anything below a thousand dollars you |
00:05:47 | 00:05:51 | get charged a hundred dollars anything |
00:05:49 | 00:05:52 | that's under 10k you get charged about |
00:05:51 | 00:05:55 | seven and a half percent and then |
00:05:52 | 00:05:57 | anything over 30k you get charged a five |
00:05:55 | 00:05:59 | percent commission now after you place |
00:05:57 | 00:06:01 | your first order all future orders must |
00:05:59 | 00:06:03 | be placed with your sourcing agent and |
00:06:01 | 00:06:05 | in general it is frowned upon to work |
00:06:03 | 00:06:07 | with the factory directly and bypass |
00:06:05 | 00:06:09 | your agent unless special terms are |
00:06:07 | 00:06:11 | negotiated up front in fact most factors |
00:06:09 | 00:06:12 | will not do business with you without |
00:06:11 | 00:06:14 | your agent |
00:06:12 | 00:06:15 | now some china sourcing agents will hide |
00:06:14 | 00:06:17 | the factory information from you |
00:06:15 | 00:06:19 | altogether and most service companies |
00:06:17 | 00:06:20 | won't reveal the name of your factory |
00:06:19 | 00:06:22 | either |
00:06:20 | 00:06:25 | now a five to ten percent sourcing fee |
00:06:22 | 00:06:26 | may sound significant at first but the |
00:06:25 | 00:06:28 | amount of time and headache a sourcing |
00:06:26 | 00:06:29 | agent can save you can be well worth the |
00:06:28 | 00:06:30 | money |
00:06:29 | 00:06:32 | now if you decide to go the sourcing |
00:06:30 | 00:06:34 | agent route here are the questions to |
00:06:32 | 00:06:35 | ask and it's important to ask the right |
00:06:34 | 00:06:37 | questions before hiring them |
00:06:35 | 00:06:39 | so what are your payment terms is there |
00:06:37 | 00:06:41 | a deposit involved and when does |
00:06:39 | 00:06:43 | sourcing agent get paid some agents |
00:06:41 | 00:06:44 | require upfront payment whereas others |
00:06:43 | 00:06:46 | will allow you to pay when the products |
00:06:44 | 00:06:48 | are ready to be shipped |
00:06:46 | 00:06:50 | how is quality control handled does the |
00:06:48 | 00:06:52 | agent offer inspection services or are |
00:06:50 | 00:06:54 | they outsourced to a third party will |
00:06:52 | 00:06:55 | they visit the factory to ensure that |
00:06:54 | 00:06:57 | ethical production practikes are |
00:06:55 | 00:06:59 | followed and how are the inspection |
00:06:57 | 00:07:01 | reports delivered now do they have |
00:06:59 | 00:07:03 | referrals from happy customers make sure |
00:07:01 | 00:07:04 | you ask for referrals from clients in |
00:07:03 | 00:07:06 | your home country |
00:07:04 | 00:07:08 | how often are production updates given |
00:07:06 | 00:07:09 | you should have a direct way of |
00:07:08 | 00:07:12 | contacting your sourcing agent through a |
00:07:09 | 00:07:14 | messaging app like wechat or whatsapp |
00:07:12 | 00:07:16 | and are there any guarantees for late |
00:07:14 | 00:07:18 | shipments or poor quality goods because |
00:07:16 | 00:07:19 | no production run ever goes perfectly |
00:07:18 | 00:07:21 | smooth and it's important to have |
00:07:19 | 00:07:23 | contingency plans in place |
00:07:21 | 00:07:25 | where's your sourcing agent located in |
00:07:23 | 00:07:26 | general it's better to use an agent that |
00:07:25 | 00:07:28 | lives close to your factory different |
00:07:26 | 00:07:30 | regions in china specialize in different |
00:07:28 | 00:07:32 | types of goods and then finally you want |
00:07:30 | 00:07:33 | to ask what their fees are every |
00:07:32 | 00:07:35 | sourcing agent offers a different fee |
00:07:33 | 00:07:37 | structure make sure you negotiate |
00:07:35 | 00:07:39 | favorable terms if you decide to use |
00:07:37 | 00:07:41 | their services in the long term now |
00:07:39 | 00:07:43 | aside from these questions make sure |
00:07:41 | 00:07:44 | that your sourcing agent is responsive |
00:07:43 | 00:07:47 | and can speak your native language |
00:07:44 | 00:07:48 | fluently now if you experience any |
00:07:47 | 00:07:50 | communication problems now then it's |
00:07:48 | 00:07:52 | only going to get worse once your |
00:07:50 | 00:07:53 | products are in production now hear the |
00:07:52 | 00:07:55 | pros and cons of using a china sourcing |
00:07:53 | 00:07:57 | agent as opposed to finding your own |
00:07:55 | 00:07:59 | suppliers via alibaba or going to the |
00:07:57 | 00:08:01 | canton fair |
00:07:59 | 00:08:02 | so let's start with the pros it saves |
00:08:01 | 00:08:04 | you time a china sourcing agent already |
00:08:02 | 00:08:06 | has an established rolodex of pre-vetted |
00:08:04 | 00:08:08 | manufacturers for your review and |
00:08:06 | 00:08:10 | alibaba is filled with tire kickers and |
00:08:08 | 00:08:12 | middlemen and a sourcing agent can help |
00:08:10 | 00:08:14 | you quickly weed through the junk |
00:08:12 | 00:08:16 | there's great communication a china |
00:08:14 | 00:08:18 | sourcing agent speaks english and |
00:08:16 | 00:08:20 | chinese fluently as a result your agent |
00:08:18 | 00:08:22 | can facilitate communication between you |
00:08:20 | 00:08:24 | and your factory and in some cases you |
00:08:22 | 00:08:26 | won't even have to communicate with your |
00:08:24 | 00:08:28 | supplier at all the production process |
00:08:26 | 00:08:29 | will be smooth a china sourcing agent |
00:08:28 | 00:08:32 | has experience sourcing products and |
00:08:29 | 00:08:33 | typically has procedures in place and if |
00:08:32 | 00:08:35 | you're new to e-commerce your agent can |
00:08:33 | 00:08:36 | teach you the right way to source |
00:08:35 | 00:08:38 | products for sale |
00:08:36 | 00:08:40 | you tend to get better quality control a |
00:08:38 | 00:08:43 | good sourcing agent has in-house staff |
00:08:40 | 00:08:44 | or inspection agencies at their disposal |
00:08:43 | 00:08:46 | to make sure your products are made |
00:08:44 | 00:08:47 | without defects and you should never |
00:08:46 | 00:08:49 | trust the factory |
00:08:47 | 00:08:51 | and then finally there's accessibility |
00:08:49 | 00:08:53 | when things go wrong a china sourcing |
00:08:51 | 00:08:55 | agent can help fix the problem directly |
00:08:53 | 00:08:57 | by just going to the factory sometimes |
00:08:55 | 00:08:59 | email and texting just isn't good enough |
00:08:57 | 00:09:02 | now here are the downsides to using a |
00:08:59 | 00:09:03 | china sourcing agent the extra cost may |
00:09:02 | 00:09:04 | eat into your margins |
00:09:03 | 00:09:06 | now they're going to charge you a |
00:09:04 | 00:09:07 | percentage of your goods this is |
00:09:06 | 00:09:09 | essentially a royalty that you'll have |
00:09:07 | 00:09:11 | to pay for as long as you use that |
00:09:09 | 00:09:13 | factory there's also a single point of |
00:09:11 | 00:09:15 | failure if your sourcing agent decides |
00:09:13 | 00:09:17 | to quit or ghost you you may lose your |
00:09:15 | 00:09:19 | supplier altogether |
00:09:17 | 00:09:20 | sometimes there's back-end deals now |
00:09:19 | 00:09:22 | because sourcing agents are paid based |
00:09:20 | 00:09:24 | on order size they may be incentivized |
00:09:22 | 00:09:28 | to work with certain factories that |
00:09:24 | 00:09:29 | provide special incentives or kickbacks |
00:09:28 | 00:09:31 | now ultimately the million dollar |
00:09:29 | 00:09:32 | question is is using a china sourcing |
00:09:31 | 00:09:34 | agent worth it well if you're new to |
00:09:32 | 00:09:36 | e-commerce and you're having problems |
00:09:34 | 00:09:38 | finding a reliable supplier to produce |
00:09:36 | 00:09:40 | your goods then hiring an agent is an |
00:09:38 | 00:09:42 | excellent option the amount of time that |
00:09:40 | 00:09:44 | a quality sourcing agent can save you is |
00:09:42 | 00:09:45 | well worth the money and in addition |
00:09:44 | 00:09:47 | they live in china and can visit your |
00:09:45 | 00:09:48 | factories in person should problems |
00:09:47 | 00:09:50 | arise |
00:09:48 | 00:09:52 | however you should hire a china sourcing |
00:09:50 | 00:09:54 | agent only after you made an attempt to |
00:09:52 | 00:09:56 | find your own factories services like |
00:09:54 | 00:09:58 | alibaba and global sources have made it |
00:09:56 | 00:10:00 | extremely easy to find reliable |
00:09:58 | 00:10:02 | suppliers online if you have the means |
00:10:00 | 00:10:04 | attending trade shows like the canton |
00:10:02 | 00:10:06 | fair or global sources are invaluable |
00:10:04 | 00:10:08 | for meeting suppliers face-to-face |
00:10:06 | 00:10:10 | now for our e-commerce business we tend |
00:10:08 | 00:10:12 | to use sourcing agents when we are in a |
00:10:10 | 00:10:14 | pinch so for example this past holiday |
00:10:12 | 00:10:16 | season our suppliers experienced |
00:10:14 | 00:10:17 | production delays which meant that our |
00:10:16 | 00:10:20 | products would not arrive in time for |
00:10:17 | 00:10:21 | the holiday season so as a result we |
00:10:20 | 00:10:24 | used a sourcing agent to quickly find a |
00:10:21 | 00:10:25 | new factory to produce our products now |
00:10:24 | 00:10:27 | the main question you must ask yourself |
00:10:25 | 00:10:29 | is whether you can afford to sacrifice |
00:10:27 | 00:10:31 | your time for money finding your own |
00:10:29 | 00:10:33 | suppliers generally takes more time and |
00:10:31 | 00:10:35 | effort that you could be spending on |
00:10:33 | 00:10:36 | other parts of your business |
00:10:35 | 00:10:38 | hope you enjoyed this video now if you |
00:10:36 | 00:10:40 | like what you saw there's actually a lot |
00:10:38 | 00:10:42 | more where that came from if you |
00:10:40 | 00:10:43 | subscribe to my channel below and if you |
00:10:42 | 00:10:45 | are interested in learning how to sell |
00:10:43 | 00:10:47 | physical products online then click over |
00:10:45 | 00:10:48 | here and take my free six day mini |
00:10:47 | 00:10:50 | course where i'll walk you through |
00:10:48 | 00:10:52 | everything that you need to know to get |
00:10:50 | 00:10:54 | started in e-commerce thanks for |
00:10:52 | 00:10:54 | watching |
Congratulation! You have finally finished reading An Easy Way To Find Wholesale Suppliers With MINIMAL Work (w/ Sourcing Agent) and l believe you have enough understanding An Easy Way To Find Wholesale Suppliers With MINIMAL Work (w/ Sourcing Agent).
Come on and read the rest of the article!
Recommended
- The Beginners Guide To Retail Arbitrage (Step By Step)
- 9 Side Hustles For Women And Moms That Make REAL Money From Home
- Proven SEO Strategies To Rank Your Online Store In Search
- 4 Tricks To Get Alibaba Suppliers To Lower Their Minimum Order Quantity (MOQ)
- The Best Amazon Seller Tool (For The Money) - Helium 10 Vs Jungle Scout