The most common question I get asked is “what should I sell or import?” “What is the latest ‘HOT’ item that will make me lots of money?” There is no definitive answer, I always respond. Do the research, know who your customer is, give them what they want and this process will always find your product.
When considering your products, ensure they are not everyday products that they can buy at K-mart. They need to have a unique factor and hard to find.
There are two schools of thought on how to find a product to import and sell:
Find something that you are actually passionate about OR find a problem. For example, if you are an outdoor person who loves camping or fishing, you could find a product in that area. Or, if you find a problem, find a solution. I would recommend asking your target group or potential customers for recommendations. For example, if you love camping but always look for lights and batteries, what about a solar torch or solar lights that are compact? I would find a group that loves camping and ask them if they would like solar torches/lights, what size do they want and at what price point. I would then go and find a product that meets all of those requirements.
The second school of thought is to find a niche where you can add value. Do the research, know your client and what they want
, do the numbers and, if it works, find the product.
For example a ‘HOT’ area is pets. Due to more people living on their own and having a higher disposable income, they tend to spend more on their pets. This is an area that could be expanded further, finding products in that category. Personally, I wouldn’t do the obvious things like collars and leads. I would find other things that people would be more willing to spend money on for their dog.
To answer the question “what should I import” in this category, I would suggest dog clothes, a unique toy, a dog brush, an intelligent dog feeder or even a cover to go on the back seat so when I take my dog to the beach the seat doesn’t get dirty or wet.
In both of these strategies you always find the target groups/niche first and then the product that they need. Then do the research on that product. Then, finally, find or source it. This is the best way to find items that will sell as you have the audience ready and you know what they want.
What do people want? What problem do people have? What might be a product to fix or fulfill that issue?
Start With 5 Key Products..
We recommend to begin with at least 5 key products and have a number of complementary products that will support a faster sale. For example, if you are going to sell shoes, that could be your key product. Your complementary products could include socks, shoelaces, shoe polish, shoe storage boxes and so on. I’m sure you get the idea.
Most of people buy on impulse. I’m the same. As I look around my bedroom, I see lots and lots of things that I have bought on the spur of the moment. There are products that I haven’t even taken out of the packaging, including products that are impulse buys and a great selling strategy.
So to summaries, find a product in niche that you like and start looking around for products within that niche that people would buy.