AboutHank S Expertise Ask me about sourcing products in China, finding manufacturers in China, importing from China, developing new products in China, moving manufacturing to China, price negotiations with suppliers in China, and logistics-related issues.
Experience I lived in China from 1993 to 2003 where I learned Chinese and worked in the fields of logistics, marketing and manufacturing services. I have visited hundreds of factories in China. I am authorized by the NYS Unified Court System as an interpreter of Mandarin Chinese. I have an MBA in international business and entrepreneurship. I work in a U.S. company as product development and sourcing manager.
Education/Credentials MBA, International Business & Entrepreneurship, City University of NY
BA, East Asian Studies & Chinese, City University of NY
Studied international trade taught in Chinese at the University of International Business & Economics in Beijing
Chinese language study at Beijing University & Nanjing University
Question We are thinking of opening a store in Saskatoon Canada I am looking for a product that will sell , It will be a small store , i am curious what you thin is a easy sell...and if you know of the good places to look in china..
Thanks
Mike
Answer Mike, I don't think there is such a thing as an "easy sell", at least not for most people and not consistently. Opening a store is a big investment. You need a good location with plenty of traffic. Where I live in NYC a "small store" in a decent location rents for around $10,000 a month. You need to pay several months down when you sign the lease and typical lease terms are 5 years. Then you need to fit out the store, stock the store with inventory, and hire help to operate and manage the store.
Once you have established the store you will need to be there all the time. The store will become your life. You will be practically living there. It is possible that you toil away, yet actually lose money.
On top of all this, you want to simultaneously get into the importing business??? As a small store owner, how will you find time to go to China, visit factories, visit trade shows, find a freight forwarder, hire a customs broker, set up letters of credit, hire a quality inspector to check your shipments, communicate with overseas suppliers to coordinate production, shipping and delivery schedules, etc. etc.?
I suppose it's possible that you are actually an investor with deep pockets and you won't be doing any of the actual work yourself.
But is your appetite for risk so great that you are not only willing to incur the risk associated with investing in a small store but also compound it with the risks associated with being an importer?!?
There are all kinds of great things to buy in China that could sell well in N. America. I suggest you plan a trip to China to see for yourself. Here's a recommended itinerary for 10/09-11/09:
Arrive Hong Kong
Ground transportation to Guangzhou
Visit Canton Fair (2-3 days)
Fly to Shanghai
Ground transportation to Yiwu
Visit Yiwu markets (2-3 days)
Ground transportation back to Shanghai
Return home from Shanghai
If you want you can throw Beijing in the mix for some touristy stuff like the Great Wall and the Forbidden City.
Start Googling, visit cantonfair.org and make your air and hotel reservations EARLY. Oh and don't forget to bring a shitload of money... you'll need it!
