A few decades back people advised young generations that if they want to grow rich then migrate to a western country. However, today the advice will be for any young entrepreneur, if they like to be rich in your business then go to the east!
The way the economy of China is growing now, it will not be a surprise that within the next decade China will be one of the world’s top economies and will surpass even USA.
If any businessman in a western country wants to increase the profit of his company then he needs to find factories in China that can manufacture all the products as designed by his Company.
China has the lowest cost of labour due to its highest population available in the world. Although over the last few years, the cost of labor in China also has increased but as compared to that figure in the western countries, it is still minuscule.
Now in this post, we will limit our discussion on how to find factories in China so that any company in the western country can tie up with a certain Chinese company to produce their products at a cheaper cost.
From where to start?
There can be several sources from which you can find any potential Chinese manufacturers and some of them are as follows:
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- From your own industry trade association
- By obtaining recommendations from your company contacts and also online or offline groups of your network
- A few well-known online directories of overseas manufacturers are easily accessible, e.g. Global Sources and Alibaba
- Any of your nearby Small Business Development Centre (SBDC) or any SCORE office
- From various international trade shows – there are many trade fairs happening in China where it is possible to come across several manufacturers, attending trade exhibitions in the United States that attract Chinese producers is the right place to start.Visit The Sites : mallumv and sitepronews
Listings of Global trade shows are available on Trade Show News Network. You can browse for exhibitors selling similar products to yours and create connections during the show.
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- Social media networks – Social networking is not always the best place to look for vendors. Although only a few providers have a presence on social media, they are a valuable source of feedback and reviews for potential vendors.
How can you narrow down your options?
After the above process, to find factories in China, you may collect a very long list of all possible manufacturers and finally shortlist a few and then you must look for:
1. Manufacturers that are making products the same as yours
You should look for a company that specializes in your type of product rather than one that usually makes it their side-line. A few small Chinese manufacturers may be willing to offer to build almost anything, but the quality may suffer as a result.
2. Ratings and reviews
You must do your internet search and try to look at their online reviews and ratings to see what third parties are saying or commenting about your short-listed manufacturer.
3. Manufacturers who export to the USA or any other Western countries
Chinese producers of this group will have higher standards and also have demonstrated that they can match the demands of Western importers as far as product safety, packaging, and labelling laws are concerned.
They will also be familiar with the logistics needed for exporting products worldwide and have a better understanding of how to get your different products through the red tape that comes with it.
Any reputable Chinese manufacturers will be readily willing to share with you their various documentation, business license, their quality control manuals, and also any other related certifications.
Sourcing any products from China
After your effort to find factories in China has shown results then you need to follow these steps to source the products from China on a regular basis.
1. Develop products
When it comes to sourcing Chinese products, you will need to talk to your staff about what you want. As a starting point, gather requirements such as quantity, quality, budget, lead time, images, or videos of a similar product.
In addition, arrange for certificates if the destination country where you want to sell the products requires them, and obtain license rights in those countries where you will distribute the products.
2. Identify trusted partners
This will be the most difficult step, and if you don’t speak Chinese, a sourcing agent can assist you. These professionals obtain and share credentials, factory images, and recommendations from previous clients for helping you verify vendors using their local language experience and efficient network.
Reviewing company licences, signing contracts, agreement on payment conditions, and understanding the jurisdiction place in the event of a legal disagreement are all important steps in ensuring a successful relationship.
Once suitable potential suppliers were identified, the sourcing agents will discuss your product specs with the manufacturers to see if they are capable of producing those products.
Bargaining concerning the price, quantity, quality, and delivery time is standard practice in China product procurement. A large minimum order quantity aids in the completion of deals at your best possible price.
As a result, the sourcing professionals use their expertise to secure you the greatest offer from the supplier during the process of negotiation.
4. Process of production
Even though sampling is the simplest aspect of the overall procurement process, it should never be overlooked. Continue with this procedure until you are satisfied with the outcome. If you decide against placing an order, you will just be charged for the sample. When you will order in bulk, the cost of the sample is removed.
To avoid production downtime due to a lack of communication, the product sourcing agent will continue to share with you photographs and regular updates. This aids in the resolution of issues during the process of manufacturing rather than at the end, as that time it becomes costly.
The products are examined for quality before being shipped.
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5. Logistics and payment
Product sourcing agents can help you during shipping and labelling (goods kind, import and export country, quantity, and value).
Always check with your bank to see how they send money to China. Money transfers from the USA or Europe may be simply because a few manufacturers have subsidiaries in Hong Kong or Taiwan.