More Financial Matters of Importing from Asia

1. The next step is to work out a pricing structure and examine its efficacy. What will you pay for your goods on the Asian side, and how much do you intend to sell them for abroad? Are your projected selling prices realistic in terms of the market? Do they incorporate all your overheads and still allow you to make a reasonable profit? Working out your overheads is a tedious process, but an absolutely vital one. This involves thinking of every possible step you may need to go through to get to the point of actually selling your product, and all the relevant costs involved. This include travel costs, the cost of items you intend to sell, transport costs, rental fees, labour costs and any other costs you can think of.

2. Once you have an estimate of all your overheads, you can look at this in relation to the amount and price of stock you would like to buy, and determine a realistic asking price for your wares.

3. Your most important monetary consideration is to determine how you will finance your operation. If you are extremely likely, you may have the money on hand, but if not, you may have to take out a loan from the bank or some other lender. Weigh up the pros and cons of a loan carefully, and always have a plan B - for example, if your business fails, what will you do next? Will you be able to fid other work in order to repay your loan?