Which is the best choice – importing digital cameras or importing digital camera bag?
Naturally, digital cameras are more profitable. But they are expensive and not every day will a person buy a digital camera from your location. They also have the tendency to depreciate fast and need an incredible amount in shipping.
On the other hand, camera bags are cheap if you are going to buy them in quantity, you can’t go wrong on this and shipment will be easy as well.
The bottom line here is, you have to sell a huge quantity of camera bags to match the profit you will get from a single sale of camera.
There is no right product for sale here. You have to consider the variety of the products sold in your location; this will lead you to the right product to sell.
In choosing a product you have to consider the following:
- Is the product legal to import and sell in your country? ( think of the issues involve if you will import fake, replica or look alike products)
- Will the product cost so much on shipping? Are they heavy and very valuable?
- Is the product on the list of the hot items that will have high custom taxes when it reaches the destination?
- Does the product requires some technical support or you will just market it as it arrives? Will you be able to market it and can provide support to your customer?
- How much profit will you get from a single sale? It is always better to have a 4% profit on a $500 item that 200% profit on a $1 sale.
- Can the financial side of your business handle the impact of certain negative issues such as refunds on your customers, non-delivery of products or you have stocks that are depreciating already?
- These are the common questions that you have to deal with, however, the type of product you are selling makes a lot of difference especially if they have high value.
Products to Avoid
- Items that are cheap and already widely distributed in most chain stores
- Items that you think its popularity will not last long
- Items that is very cheap that your profit will be too low. Your effort may not be worth it.
- Items that readily depreciate or fluctuate in price
- Items that have so much attached variables that the processing, packing and delivering will take so much time
- Items that are so delicate. Will easily break when you post them or during the warranty period.
- Items that you are not familiar with.