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How do I resell my own branded Mp3 Player to the public?
I actually have the rights to sell a new kind of Mp3 Player that is made in China, here in the U.S. I can get the product for cheap and in bulk, and the company has allowed me to represent the U.S. side of selling. I have no experience of distributing products or the process, nor do I have much start-up money. I have done some product analysis and research, and found out I can compete with big Mp3 players like Ipod. I have also done a lot of accounting and know that my finances can be covered by the profit I can make. I don’t have the product in my possession, but I am close to getting samples from the company. What should I do next? How can I get my product into retail electronic stores such as Best Buy or online stores like Amazon? Are there any other forms of distribution? Are there any consultants I could talk to for free? If anybody can really help me, I would appreciate it greatly, and your name could be immortalized as the one who helped create the Ipod killer.
I worked for a wholesale distributor for a while that bought goods from China and sold to places like Walmart and Academy Sports (and many others). You can do a couple of things.
First option:
1. You can go to the company websites of where you want to sell.
2. Find the corporate telephone number, call them, and ask to speak to the electronics buyer. At electronics specialty stores, you’ll need to ask for the personal electronics buyer.
3. Be prepared to send the buyer images and specs on your products (case weight, case quantity, price per unit, any shipping/freight costs or if it’s FOB at your warehouse, unit packaging (clam shell, cardboard box, etc.), minimum order quantity, etc.) TIP: You need to make it look PROFESSIONAL
4. If they’re interested, you’ll have to send them a sample. If you haven’t already, get a couple of cases of samples air freighted to you from China for this purpose.
5. Follow up to get orders.
Second option:
1. Find out where wholesale trade shows are in the U.S. (may want to look specifically for electronics trade shows)
2. Get a booth – beware though that these can be VERY expensive (check out this website to get you started: http://www.globalsources.com/TRADESHW/TRDSHFRM.HTM)
Even though trade shows can be expensive, they put you in front of a LOT of buyers. If your product is great, and you have priced it accordingly, you should get lots of interest. TIP: US retailers expect to make AT LEAST 30% profit from anything they sell.
Another tip: when ordering your products from China, be very explicit on your purchase order about what you expect. Down to carton size, packaging, type of carton, etc. Also check customs to see if you’ll have to pay any customs or duties on your products (you can go to the US Customs website to research).
You may have already thought about this, but it’s cheaper to order container quantities from China. The Chinese manufacturers usually demand up front payment or Letter of Credit on site (at port) if you are new to doing business with them. Once you bring the goods over, you need a place to warehouse and distribute them. Also, you need to calculate manufacturing time and freight time to figure out how long it will take to get your product. On average, it will take between 60-90 days to get your products from China once they get a confirmed purchase order.
Since you’re new at this, you may want to get an experienced distributor to help you. Just make sure you calculate everything out so you make money on the deal.
Good luck!
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