Thursday, April 10, 2008

How to Find International Manufacturers

If you have a product you want manufactured, going overseas may allow you to save on costs. However, the main question is: how do you find international manufacturers?

One of the most popular destinations for those looking for international manufacturers and suppliers from China is Alibaba.com. The site can connect you to any Chinese manufacturer for whatever products you want to produce. Be careful though with "phantom" suppliers who will simply take your money and run without sending you the goods you ordered (and there are plenty of these horror stories).

To protect yourself against these scammers, look for suppliers and manufacturers that participate in Alibaba's TrustPass program . Chinese suppliers and manufacturers pay to be part of this program, where they are verified by a third party service to give buyers like you the confidence to deal with the company.

Alibaba also has a Gold Supplier program . This is again another paid program where suppliers and manufacturers need to be verified, and Gold Suppliers are given TrustPass accreditation as well.

Still, entrusting the manufacturing of your product to a company half the world away without ever meeting takes a lot of faith in the inate goodness of man. So savvy inventors and businesses prefer finding manufacturers by attending international trade shows and actually talking to the representatives of the company.

If you are looking for international sourcing trade shows, check out GlobalSources.com which offers a good list of upcoming international trade shows and sourcing fairs around the globe. You can also check out their Verified Suppliers for various product categories. Other trade show listings include TSNN.com.

Another way is to use a sourcing agent. While hiring a sourcing agent makes it more expensive compared to dealing directly with the manufacturer, the agent can help you with the whole process. They will find the right manufacturers for you, and some can even help you with advice on how to set-up letters of credit, shipping concerns such as customs, duties, and brokerage.

Do a search on the Web for sourcing agents for your products. Or call your local Small Business Development Center for recommendations. Your state' Department of Commerce can also help you and may have some recommendations for you. Check out the Trade Information Center as well.

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posted by PowerHomeBiz.com @ 12:56 PM   0 comments links to this post

Saturday, June 16, 2007

Resource for Inventors: How to Avoid Invention Scams

The United Inventors Association , a non-profit formed in 1990 to educate new inventors, has a great section on Red Flag Warnings that new inventors must heed to avoid being scammed. I've heard of so many horror stories of inventors taken for a ride, some even losing significant amounts of money and even their creation, because of these scam artists.

UIA has articles on:

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posted by PowerHomeBiz.com @ 8:24 PM   0 comments links to this post

Thursday, June 14, 2007

How to Get Your Products to the Market: Dealing with Buyers

Whether you are an inventor or a clothing designer, you need an outlet for your products whether it is the retail store across the street or Bloomingdale's. Of course, the bigger the store, the greater the chances for success.

But the problem is: how do you get your products into the shelves of these retailers? You basically have two options: get the know the CORRECT buyer for each store you want your products to be sold; or hire a distributor or manufacturer's representative to do the pitching job for you. A sales rep is often the easiest route because they already know the buyers of these big stores, they have an established relationship with the buyers, and they know the type of information and paperwork the buyers require.

If you are going to do it yourself, here are some tips:

1. Know the retailer. Before even talking to the store buyers, research the store and why they will benefit from having your products on their shelves (it's a two way thing: you win when they win). Check if your target audience for the product shops in that store. Find out if the retailer is selling products similar to yours; if if they do, what are the advantages of your products over the current offerings.

2. Understand that buyers of big companies and mass retailers are often hesitant and wary in dealing with new suppliers with unproven track records. They don't know you and your products, and whether you will be a good fit for the store. In fact, most buyers prefer to deal with sales reps.

3. Anticipate the concerns and questions of the buyer. You need to do your homework well before your meeting with the buyer, and this includes having proof that your products are ready for the primetime. Buyers will want to know:
  • that the product is finished, including packaging
  • who else will be selling the product
  • whether you have to resources to supply their store
  • whether you can meet the demand for your product if it sells well
  • whether you have adequate product liability insurance
  • whether your product comply with safety, legal, labor and other regulations (imagine the horror of the buyer if he/she approves your products and it turns out your products are produced in a sweat shop!)

4. Use tradeshows. One of the easiest and best ways to attract the attention of buyers is through tradeshows. Make every effort to participate and showcase your products in the best and biggest tradeshows in your industry. Buyers prowl these tradeshows looking for new and interesting products -- and they just might see yours!

I will write more on this topic and give you more tips!

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posted by PowerHomeBiz.com @ 2:00 PM   0 comments links to this post