How To Export Uk Wholesale Products Overseas

Exporting products is most profitable in Wholesale Business for people who are willing to negotiate and to switch companies or products just to increase the bottom line. Few people get rich by being loyal to a middleman.

In addition, being ignorant of the law is never an excuse for breaking it. Learn about the United Kingdom’s rules on exporting and talk to experts on the subject.

Laws and Agents :

Know the regulations on exporting goods. Attempting to ship products with missing or incomplete documents delays the package. Shipping illegal goods also causes delay and the package may be returned to you with a penalty fee. Learning about the United Kingdom’s laws on exporting goods saves time and money in the long run.

You can hire an agent to handle the paperwork for you. Make sure the agent is well-qualified and has experience with exporting products from the United Kingdom. According to HM Revenue and Customs, you are 100% responsible for the legality and correct classification of your goods. This is true even when an agent is handling everything for you.

Rock Bottom Prices :

When looking for a new item to export, buy direct from the manufacturer whenever possible. “A rock-bottom price will increase the spread of your profit zone, allowing a hefty markup,” says the writer of TradeZone.com. This seems simple enough, but a surprising amount of wholesale companies are just middlemen.

If you notice a lot of people selling an item cheaper than you, you are probably buying from the wrong source. Put more effort into searching for the same product for less money. Once that search hits a dead end, negotiate with the best company for a better price.

Many companies are willing to haggle on price, especially if you order enough goods. The main problem is that most people do not try. Remember that the worst that can happen is they refuse to haggle at all, in which case you have lost nothing.

Drop Shipping :

Drop shipping is a way of selling goods without buying them first. You get orders, then place an order for the company to deliver the goods. The great thing about drop shipping is that it does not require capital to get started. In addition, it can be done internationally; for example, you can drop ship beauty products widely available in the United Kingdom but rare overseas.

According to Dummies.com, creator of the “for dummies” book company, you can stand out by not using the same product images and descriptions as everyone else. Get a sample of the product and take your own photos. Change or add to the description to make it less generic. 

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This post is written by Jamie Scott blogs at CreditDonkey, where business owners can search for the best business credit card for their wholesale exporting business.

How To Grow Your Wholesale Business in UK

To be in wholesale business in the UK is a profitable idea because the UK have great forecast for it. If you are getting good profit in your wholesale business in the UK and now you want to further increase your increase the circle of your wholesale business then exporting your products outside of UK is a lucrative option. Occupying international trade is not as simple as performing trade within a country. To export the wholesale products, you should have enough resource and sound knowledge of international market.

Before directly jumping into the exporting business, the first point is to evaluate your one export potential. Export potential consists of two major things i.e. readiness of your wholesale business and that of the products or services. In order to perform these important errands you first need to have thorough market knowledge to assess and classify the target market. Study the industry structure in which you have to step in. Try to find out the demand of the wholesale products which you wish to export in that market. Also try to find out the market competition so that you can make strategies to make your place in this race.

After research, what you have to do now is to make an export plan to follow while doing your business of exporting your UK wholesale products overseas. In making plan marketing strategy has its own importance and it is viral because it helps you in adjusting in International trade. You might also have to arrange twice as many financial resources as needed to support and back up the investment. After arrangement of financial resources, next step is to get knowledge to meet the standards and regulations of international market. To make your wholesale products appropriate for export, British Standards Institution can also guide you. And the last work you need to do for best wholesale business man is to realize the export payment mechanisms and export finances.

After resolving all the issues, now its time to understand how you would systematize your Sales Presence in overseas. Sales Presence totally depends on your wholesale product, for instance you can sell your products online, in trade shows or in exhibitions etc. There are many other ways to sell UK wholesale products overseas. These different ways will determine your success or failure in exporting business. Also try to locate distributors there sold to them then they will sell to local suppliers; you can also use a sales agent who will sell wholesale products on your behalf or put you into contact with potential customers on commission basis.
Lastly if you want to gain full control over your overseas sales then set up a local office or a franchise to spread knowledge about you and your products. This option is of course expensive but generates ultimate profits for your wholesale export business.

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6 Ways for Manufacturers to Reduce the Cost of Production

In times of economic downturns that had been prevailing in the past thirty months in the Western hemisphere, manufacturers had been compelled to take a hard look at their production costs and methods to reduce them to maintain their profitability or stem the erosion in profits to the extent possible. Several strategies can be adopted to achieve cost reduction in manufacturing process but the most important among them are presented here.

1) Cost Reduction in Product Design:

It had been estimated that nearly 80% of the cost of the product results from the product development stages. Once the products have been designed to certain quality standards and specifications, it is near impossible to reduce production costs when these products are manufactured. Hence, the cost reduction should be carefully considered and implemented in the design stages, with the costs of product development, parts, material overheads, labor, and quality analyzed in complete detail. All possible avenues in reducing costs in each of these factors should be actively pursued.

2) Lean Manufacturing Principles for Reducing Manufacturing Costs:

Lean manufacturing includes improving productivity of labor, cutting down process times, reducing inventory levels, minimizing errors or achieving zero rejection levels in all stages of production, and judicious handling of scrap. The lean manufacturing and Kaizen principles help manufacturers in enhancing the productivity levels of labor and eliminate wastes at every stage.

3) Overhead Costs Reduction:

Overhead costs reduction consists of minimizing inventory costs, reduction in procurement costs by negotiating with vendors and suppliers, and mass customization process to manufacture wholesale products with minimum inventory and at short notices to meet orders quickly.


4) Cost Reduction by Standardization:

Standardization of products, parts, and processes had been observed to bring down manufacturers costs by 50%. Organizations can benefit from economies of scale by bulk purchasing of standardized parts and reducing inventory overheads to 10% of normal levels.

5) Rationalization of Production Lines and Processes:

Manufacturers should strive to isolate products that are causing losses on the basis of production and shipping costs to sales value. These products should be removed from the portfolio, unless they have strong brand loyalties. In those situations, the overheads for these products should be cut down to reduce or eliminate losses from these products.

6) Simplification of Supply Chain Management:

The other step in reducing production costs for manufacturers is to simplify supply chain management. Implementation of Kaizen and 6 Sigma principles can also be helpful in reducing quality costs and constant measurement of total costs in all categories involved with production.

  

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Who Are Free Wholesale Dropshippers And How to Find Them?

As a newbie in wholesale business, most of us find the concept of availing the facility of dropshipping most attractive and profitable. It is somewhat true because it does not involve stocking wholesale supplies and managing inventory. Finding a reliable wholesale dropshippers and working with him can bring fortune for any wholesale business. All you need is to set up a portal where buyers can place orders. Note down the orders and ask your dropshipper to handle rest of the task. Free dropshippers are the best option where you can make money out of everywhere without spending a lot.

Free Dropshippers

If you are assuming that free dropshippers are the ones who do not charge you a penny and ship goods on your behalf, for free, then it is wrong. These kinds of dropshippers do not exist in any corner of the world.

A free dropshipper is the one who does not charge wholesalers for utilizing his services. Dropshippers are the linkers and in simple words we can define them as a wholesale courier company. Not all the dropshipping companies are free. They charge their clients in form of monthly or annual fee or charge per transaction which are other than the regular shipping charges. These fees or charges are quite significant amounts that you cannot ignore but these charges are the cost to work with reliable dropshipper.

Free dropshippers give you an opportunity to supply your wholesale products at lower prices as compared to their competitors. At the same time few dropshipping companies come up with the option of further discounts if you are ready to work with them in the long run. Working with a wholesaler in the long run can enhance their repute in the market and increase your profit margins as well. This option is good for both sides. However, it is recommended not to sign the long term contract with them after initial few transactions.

The first way to get a reliable free dropshipper is through reference of wholesalers who are in your sphere. If you are new in this business then it is the best way to get started. The next way is to actively participate in the live wholesale forums where members can answer your questions and guide you properly. The other way is to find free dropshippers through Yellow Pages and online paid directories. Your luck can work any time and you might get some good free wholesale dropshippers.

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How To Tackle Risks In Wholesale Business

Risk can be defined as an uncertainty associated with the exposure or the probability of loss. Rewards and risks always go hand in hand. You see a lot of successful online wholesalers on E-bay and Amazon. What do you think? Have they gained success without bearing any risk or loss? Obviously not! Every business move or activity endures a considerable amount of risk of loss. As in wholesale business large quantities are dealt with, the chances of loss are more. A single blunder in a wholesale business can ruin your entire business and throw you out of the market.

Wholesalers and distributors should know clearly what types of risks are involved in their business and what can be the possible ways to reduce them. Though they cannot eliminate the risks completely yet they can minimize them with effective planning. This article elaborates how different wholesale business risks can be avoided.

Insurance of wholesale products:

There is always a risk that wholesale products may loose their value in warehouse or in transit as a result of wear and tear or may damage due to fire, rain or any other natural disaster. This risk can be reduced by insurance. There can be two types of insurances for wholesale products;

1. Insuring the goods in transit
2. Insuring the goods in warehouse

Though insurance requires constant premium to be paid by the wholesalers yet it is a big shield against any potential loss.

Research your suppliers:

In online wholesale business there is always a risk of choosing fake suppliers or dropshippers. If you place orders with them, you lose your money. They are especially successful in trapping wholesale newbie. There are many examples newbie and their sad experiences with fake suppliers. This risk can only be eliminated with proper research. You should search the internet, talk to the old customers of your suppliers and gather their history before placing your order.

Check credit worthiness of your customers:

As wholesale business deals in large quantities the risk of defaulter is also great. Large quantities have massive profits at stake. The default risk can only be eliminated if you check the credit worthiness of your debtors properly. If your debtor has a bank account you can ask from the bank about the credit worthiness of your customer. Also, you can take advance or a security deposit just in case.

Devise effective marketing strategy:

For wholesalers, there is always a risk of lack of demand. This risk can be avoided by proper market research and proper forecasting of the demand of wholesale products. Also, if wholesalers have procured the wholesale products but their demand does not seem to be good in the market they should create the demand by devising a proper marketing plan. They should use advertising media to bring their produce in the eyes of their potential customers.

Risks are always there in any business. All you have to do is to follow the above guidelines or tips to tackle them.

          If you have any other risk or strategy in your mind share with us in comments below.