1. You should respect a good brand and study their history.
2. Study the price of parts and labor cost in Shenzhen and try to more profit to your supplier
3. Get to know more about your supplier. like the history, reputation of the owner, his education level, birth place and personality.
4. Do a factory check. visit them to see how many people they have, and their company size and culture. feel it if you can find something active and honor.
II.How to Do Business in Your Local Market?
1.Check your local market and do a pricing check. How much does it sell and where do they sell, and how many can they sell in a month or a year? who will be your competitors?
2.Check the policy, rules of your local customs. Find the cost of import tax, VAT and the import procedure.
3.Make a good workable plan for marketing, sell quantity, pricing and warehouse, sales team and after-sales policy and then calculate how much money you need to prepare for your new business. Usually, i suggest USD50,000 at least.
III. What Is The Procedure for A Purchasing Plan?
1.Get to know the retail price and competitors.
2. Find right supplier: pay much attention to quality, price, delivery time and their long-term business plan.
3. Order samples to test quality and market. Generally takes 1 month
4. Find some dealers who will sell for you and prepare your first order. Generally takes 2- 3 months.
5.Find real dealers (shopping malls, small shops) and sign contract with them for long-term supply cooperation. Generally 1-3 months.
6.Make marketing plan for 1 year and prepare orders and tell your supplier your plan for marketing for their suggestion so that they can help you more.