Importing furniture from China can be a very lucrative business. It’s not as hard as you think, as long as you go through proper training.
Since there are very few well-known brands out in the market today, this creates a huge opportunity for importers to bring in items that look similar to those of famous furniture makers like Ikea. The best thing about it is, you can even create your own brand of furniture and treat it as a long term business in its developing stage.
Some Facts About China’s Furniture Industry
- Furniture is China’s 4th most manufactured product, right after electrical equipment, textiles and energy equipment.
- China produces most of the world’s furniture and the machinery involved in producing it.
- China’s vast wood resources, cheap labor, government support and low exportation tariffs have created a very conducive environment for the growth of the Chinese furniture industry.
- China has more than 50,000 furniture producers; employing as much 50 million workers!
- China replaced Italy as the world’s largest furniture exporting country in 2001.
All these things spell good things for you as an importer. The level of importance they give and the support of the government to the furniture businesses in the country mean that they are serious about the quality of products they produce.
The low exportation tariffs, cheap labor, and vast wood resources of China lower the production costs, meaning you can get your products at very good prices and sell them relatively low to your customers.
What more? With effective marketing, you are ensuring the memory recall capability of your own brand of furniture. In the long run, you can literally become a household name (pun intended).
Some Steps You Need to Consider When Importing Furniture From China
1. Identify Your Target Market
You need to know who you are going to sell to. Create a niche of your own. Are you going to sell conservative styled furniture or are you going for the ultra hip design for the Avant-Garde and eccentric collectors?
2. Get to Know Your Suppliers
It’s always a great idea to be a good friend to your suppliers, that way they’ll always have you at the top of their minds when they have exciting new products or great bargains. They can also help you source out more cost efficient solutions for your concerns.
3. Understand Your Local Importation Laws
Get advice from a customs broker and take notes. This is one of the most important steps you have to take. Not paying attention to this could mean a very costly business mistake.
4. Market Your Product Effectively
This can be done in so many ways that it deserves a whole new list. The usual process is to register an eBay account and start selling online. Inform everyone on your contact lists; may it be on your phone, your email or your local directory. Who knows, they might be interested in what you’re selling.
5. Learn from the Experts
Everyone needs a good mentor. These experts have already gone through years of experience importing furniture from China and their knowledge is very valuable. If you have the chance, talk to them, ask questions, attend their training sessions, buy their books etc. What matters most is you get access to the information they have to offer and then absorb it.
Ok, so as a recap:
- Know your customers
- Make friends
- Understand how customs work
- Market your product effectively
- And last but not the least, talk to the experts and learn how to import furniture from China!
That’s it for now, Good luck!
