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Importing - where to start

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Lisaling

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Mar 3, 2019
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Hi, I'm very interested in setting up a small business importing products - mainly from USA, but possibly also from China and possibly from EU to sell in the UK.

I'm very new to the whole idea, so have a lot to learn.
These are my immediate problems I know I need to solve:

> I understand that I will have to get an EROI number (this seems probably fairly straightforward...?
Is it?

> I have no idea about how to import... or how to deal with import duty / tax...

> Shipping options. I intend to start off very small (we're talking small units to start off with).

> I have no idea about importing food products / health products and the law

Can anyone offer me advice on where to start?
I've been to a chambers meeting about setting up a business which was good, but it was VERY general. I now need to make some practical progress.

Lisa
 
What are you thinking about importing might be better to start by paying someone to do the importing, till you get on feet. Must admit I import and it’s a total nightmare at minute more hassle
From that than anything else
 
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You can use a shipping agent to handle paperwork and get product from the port or from the supplier to you.

Importing is kinda complicated, you probably won't find any one meeting or webinar covers all you need to know.

Besides importing its important to figure out what you are going to do once you have the stuff.

You will also come across suppliers with a very lax attitude to ….. well everything.
Sending you stuff worth hundreds of dollars and putting $5 as the value. Sending stuff with a label on it declaring something when in reality all you have is the label, not anything that actually meets requirements label covers.
Stuff that's poisonous. Stuff that is dangerous. Stuff that has the wrong date on. Stuff that is not quite as the samples you were sent.
Stuff that is a knock off / excess stock that the brand owner does not know exists...

Ah the fun of importing.

You will also find decent suppliers. Oh and don't take any notice of stuff the yanks say must be done when its illegal here. You don't want to get in trouble... :)
 
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Must admit I’m just about to start importing from turkey, I’ve learned my lesson and will be paying someone to do it. Tried China had containers stuck at docs waiting for a bribe so eventually did same had an agent who organised it all, firs toff tho I’d try buying from a wholesale in U.K. less profit but eliminates the risk
 
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Hi,

I work in global sourcing, and if you are serious about importing then feel free to PM me and I can see how I can help. Personally I usually work with larger retailers normally but I am interested in seeing how I can help small businesses grow.

I have edited this to be more in line with the rules :) either way just make sure you dont get stung by trying to take on to much by yourself. It is no shame to use an agent or an agency to allow you to focus on what you are passionate about.
 
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The actual importation process is not overly complicated. Just employ the services of a reputable UK bases freight forwarder who will handle everything for you. (Or if shipping smaller packages initially a courier company will arrange it). The most difficult bit is finding the right suppliers and right products.

EORI application is very simple. https://www.gov.uk/eori

Make sure you factor in all costs, including Duty/VAT (Also bear in mind that the shipping cost is included in this calculation).

Incoterms! This may mean nothing to you right now so do a bit of homework. It basically dictates who pays what and who is liable for the products at any one time.

As far as food products are concerned, as a general rule of thumb just avoid anything with products of animal origin in them, as these need more paperwork and can be a headache.

Take a look at my import guide for some more info. (See my signature).
 
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Stedurham said:
What are you thinking about importing might be better to start by paying someone to do the importing, till you get on feet. Must admit I import and it’s a total nightmare at minute more hassle
From that than anything else
Click to expand...

Thank you for the reply.

Food / health products - probably fairly small quantities to start with.
Wasn't planning on paying someone...
 
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Lisaling said:
> I understand that I will have to get an EROI number (this seems probably fairly straightforward...?
Is it?
Click to expand...
As advised above - a simple procedure, although you will need to have your shipping details to register.


Lisaling said:
> I have no idea about how to import... or how to deal with import duty / tax...
Click to expand...
A courier or freight forwarding company will send you the amounts you need to pay - generally you will pay them directly.


Lisaling said:
> Shipping options. I intend to start off very small (we're talking small units to start off with).
Click to expand...
If you are just dealing in very small quantities, then air freight by an international courier will be your best option, but this will depend on weight and volume of the shipment.


Lisaling said:
> I have no idea about importing food products / health products and the law
Click to expand...
If you are new to importing, then I would advise against importing food and health products as there are numerous regulations and certificates you will need to adhere to.


Lisaling said:
Can anyone offer me advice on where to start?
Click to expand...
There are many 'Do's & Don'ts' when it comes to importing, this will depend on the product and country you will be buying from, but the general rules are the following:
  1. Research well the products to understand what components are used and (possible) certification required.
  2. Compare at least 3 samples from bona fide suppliers before selecting the best supplier for you. Price, quality, experience, communication & service will be the points to look for.
  3. Due diligence on the supplier you choose to work with.
  4. Sample and test before ordering.
  5. Ensure the Proforma (In effect the contract between you and your supplier) details AT LEAST THE FOLLOWING: Product details & photo, materials/components, payment terms (deposit and balance payments), warranty, returns policy, shipping terms (Incoterms), packaging, carton markings, full address of supplier, company bank account of supplier, stamped and signed by the supplier.
  6. If paying in a foreign currency (99% of the time), get quotes from foreign currency houses and compare their rates and charges - they will often be much cheaper to use than your bank as well as offering better exchange rates.
I would add that sourcing, sampling, ordering and importing is just one half of the business model. The other half is the marketing and selling side. This has to be researched and covers a wide range of things that have to be put in place before you start to import.

Good luck with your project!
 
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Importing is a relatively simple straightforward process as mentioned above. The really difficult part is finding the right supplier who is honest and can provide the goods you want at the quality and price you want. As others have said shop around and do your due dilligence. This can be very hard to do if you are not in the country and especially if you dont speak the language in which case I would strongly recommend you get help - it shouldn't cost much and can acually save you £1,000s!

Foodstuffs and cosmetics are more difficult but not impossible and we actually import a lot of food and cosmetics. I have some good information on cosmetics regulations I can send to you if you wish. It looks onerous but once you get your head round it its quite manageable and because some people are put off its a less crowded market.

If you don't want to get your fingers burnt pay particular attention to certificates and quality control documentation. Many products so called CE marked are just that - a CE marked stamped on but with no accompanying declaration of conformity etc without which it is totally invalid.
 
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I used to import some trimmings from China abut 5 years ago. Small quantities, up to 100kg.
Used company called Davies Turner and was happy with their services and fees.
 
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The other concern is of course Brexit. We don't know what is happening so we don't know what the duties will be or whether there will be other complications or delays. Makes it difficult to plan properly.
 
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As above.

Sometimes you just have to place orders and cross the bridge when you come to it. Yes, there will be situations where customers require the landed cost, but other than that, it's an even playing field for importers buying from each specific country.

In a retail (product) based business, if you have no stock, you won't have takings.
 
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deniser said:
This is very true although you may be competing against others who have already stockpiled with known costs.
Click to expand...
Stockpiling costs money and may prove to be the wrong move, especially if the product is fashion related.

Play safe, buy less during this unpredictable period, but have stock to sell.

The chances are that Brexit will never happen.
 
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