Are you looking for the best possible price?
When you are not importing your goods in very large quantities, your negotiation power will be limited. Still, you can get a very good deal and a fair price, if you will take care of all the relevant details.
Here is what you should pay attention at:
You might end up with three different quotations, which is a standard practice. However, you will need to make the right choice: a fair price for quality products.
Ask as many questions as you can to the manufacturer’s representatives:
- Which is the thickness of the material?
- If the product is dyed, how many layers were used?
- Which are the exact components of the material?
All these details need to finally be mentioned in the contract.
Often, the very low-priced products can have a very low quality. Make sure the price you pay is the right price and the quality of the products is the one you need! And if the price is incredibly low, stay away!
When importing large quantities of goods from China, you need to consider and make an estimation of the production costs. This will allow you a better position in negotiating the prices of the products. Here are some items that you should consider:
- Material costs
- Workforce and production capacities
- Costs
In the first place, you need to be aware of the cost of each raw material used in the production process (metals, plastics, cotton, etc)
Secondly, you need to know which are the actual costs with the workforce and, also very important, which is the production capacity (how many products per day / week / month).
Once you fully understand these details and their associated costs, you can start negotiating with your Chinese suppliers. Keep in mind that the factory also needs to make a profit!