Import/Export Guide With Steps! Get in here to change the way you think!

[ImJusSaiyan]

Alright I'm in, theres some good info here and I'm glad my fellow brahs aren't spreading bullchit

Importing and selling is a legitimate business and needs to be treated as such. It's not a blog or IM site, you can make alot more money than other affilliate marketing techniques but also take a lot more work/communication/capitol

Oh yea finding good deals on products can mostly be done with meeting manufacturers in person either at trade shows, social circle, etc.(think DaveP already said this) But Alibaba is a pretty decent place to start from my inexperienced point of view but finding deals can be hard especially with all the hidden costs most people completely forget about.

Anyways, Definitely gonna be following this thread for some good info and potential ideas, making possible connections is the first step to making it brahs

[hickorysmoked1]

Completely off. Shipping/payment fee's when you buy. Ebay fees, paypal fees, packaging, shipping, taxes when you sell it.

Good rule of thumb is you don't want to sell cheapo things like this normally. You can't compete with the people coming out of china on most things like this. If you end up being able to profit after figuring up all of the above, then you can prob add a buck or so just for the fact that you'd be shipping from the us.

Taxes when you sell it? Which taxes do you mean?

[Tubulin]

Completely off. Shipping/payment fee's when you buy. Ebay fees, paypal fees, packaging, shipping, taxes when you sell it.

Good rule of thumb is you don't want to sell cheapo things like this normally. You can't compete with the people coming out of china on most things like this. If you end up being able to profit after figuring up all of the above, then you can prob add a buck or so just for the fact that you'd be shipping from the us.

Yeah he's right. Items like cases etc are going to be hard as you will be crushed by Chinese sellers. They will literally sell a case for $1.25 with free shipping... No way you can compete with that even if you buy a case for $.50. Go for the average cost products, $10-100+.


Look into hydraulic steppers. New Years coming, everyone's looking to get healthy. Not everyone has the opportunity to go to a gym. You can find a manufacturer of the steppers, but them at about $25, on eBay they sell for $63.99 + 39.99 shipping and they sell. Someone sold 469 of them In a period of 2 weeks I believe. Remember with the shipping cost you can set your own price, so to be competitive decrease your overall cost and increase shipping slightly. Always remember, anything that provides you with <%50 margins, is not a good product.

[F2.]

Taxes when you sell it? Which taxes do you mean?

The same taxes you pay at a regular job.

[hickorysmoked1]

The same taxes you pay at a regular job.

Damn I didn't take that into account. How will eBay go about doing that? How will eBay know who to send a 1099 form to?

[PowerAndWealth]

How much of a demand is there for processors now? Seems to be one item with a very high profit margin.

[vegasbrah08]

Damn I didn't take that into account. How will eBay go about doing that? How will eBay know who to send a 1099 form to?

eBay won't but the irs will

[Charnell]

There are three things you never want to mess with in the US. The I, the R, and the S.

[hickorysmoked1]

Taken from the original eBay buy and flip thread

This.

On irs.gov it says "and"

http://www.irs.gov/Businesses/New-10...ement-Entities

"Beginning in January, 2012, payment settlement entities (PSEs) are required by the Housing Assistance Tax Act of 2008 to report on Form 1099-K the following transactions:
•All payments made in settlement of payment card transactions (e.g., credit card);
•Payments in settlement of third party network transactions IF:
-Gross payments to a participating payee exceed $20,000; AND
-There are more than 200 transactions with the participating payee."

if there is still any confusion this is taken right off paypal and is clearly stated:

We'll use your tax ID number to send tax Form 1099-K to you and the IRS
when the payments you receive exceed both of these milestones in a calendar
year:

- $20,000 in gross payment volume for goods or services
- 200 payments for goods or services

http://forum.bodybuilding.com/showth...post1001929363

Is this outdated?

[AliasJR]

Dont let the thread die brahs, found the following info on import duties

Are there any other taxes or fees required to import into the U.S., other than duty?


Yes, there are other taxes and fees that U.S. Customs and Border Protection (CBP) collects on goods being imported into the United States. CBP collects federal taxes and fees on behalf of other federal agencies and under the Consolidated Omnibus Budget Reconciliation Act (COBRA). Whether or not additional tax is required depends on the commodity being imported. For example, imports of alcoholic beverages and tobacco products are subject to Federal Excise Tax. The Internal Revenue Service establishes the amount of this tax and CBP collects it on its behalf. To find out if additional taxes and fees are required on the goods you import and the amount, you should contact an import specialist at the port of entry through which the goods will be entering the United States.

In addition to duty and possible excise tax, goods imported into the United States are subject to user fees. The user fee and amount collected by CBP depends on the type of entry and mode of transportation used to bring the goods into the United States. For instance, formal and informal entries are subject to a Merchandise Processing Fee (MPF). The MPF for formal entries is an ad valorem fee of 0.3464 percent. The maximum amount of the fee shall not exceed $485 and shall not be less than $25. The fee is based on the value of the merchandise being imported, not including duty, freight, and insurance charges. MPF for informal entries (i.e. goods imported via mail etc.) is a set fee and ranges from $2.00 to $9.00 per shipment.

If the mode of transportation is via ship a Harbor Maintenance Fee (HMF) is collected by CBP. HMF is .125 percent of the value of the commercial cargo shipped through identified ports. HMF is not collected on cargo imported or transported via air or mailed. However, goods that are shipped are subject to both MPF and HMF.


Overview
Import duty and taxes are due when importing goods into the United States whether by a private individual or a commercial entity. The valuation method is FOB (Free on Board), which means that the import duty and taxes payable are calculated exclusively on the value of the imported goods. However, some duties are based part in value and part in quantity. In addition to duty, imports may be subject to a Merchandise Processing Fee, and in some cases to sales tax, and Internal Revenue Tax.
Duty Rates
Duty rates in the US can be ad valorem (as a percentage of value) or specific (dollars/cents per unit). Duty rates vary from 0% to 37.5%, with the average duty rate being 5.63%. Some goods are not subject to duty (e.g. some electronic products, or original paintings and antiques over 100 years old).
Sales Tax
Sales tax is not automatically charged on imported goods. However, Customs and Border Protection (CBP) declarations are made available to state tax representatives that may occasionally claim state taxes from the importer.
Minimum thresholds
Duty is not charged if the value of the imported goods is up to US$200.
Other taxes and custom fees
CBP collects federal taxes and fees on behalf of other federal agencies, like the Internal Revenue Service, depending on the commodity being imported. User fees depend on the type of entry and mode of transportation.
- Federal Excise tax is imposed on imports of alcoholic beverages and tobacco.
- Merchandise Processing Fee (MPF) is charged on formal and informal entries:
MPF on informal entries is either US$2, US$6, or US$9 per shipment.
MPF on formal entries (for imports of goods valued over US$2500) is set at 0.3464% of the value of the goods with a minimum charge of US$25 and a maximum of US$485



Posted from my poverty iphone

[MissouriBrah]

Dont let the thread die brahs, found the following info on import duties

Are there any other taxes or fees required to import into the U.S., other than duty?


Yes, there are other taxes and fees that U.S. Customs and Border Protection (CBP) collects on goods being imported into the United States. CBP collects federal taxes and fees on behalf of other federal agencies and under the Consolidated Omnibus Budget Reconciliation Act (COBRA). Whether or not additional tax is required depends on the commodity being imported. For example, imports of alcoholic beverages and tobacco products are subject to Federal Excise Tax. The Internal Revenue Service establishes the amount of this tax and CBP collects it on its behalf. To find out if additional taxes and fees are required on the goods you import and the amount, you should contact an import specialist at the port of entry through which the goods will be entering the United States.

In addition to duty and possible excise tax, goods imported into the United States are subject to user fees. The user fee and amount collected by CBP depends on the type of entry and mode of transportation used to bring the goods into the United States. For instance, formal and informal entries are subject to a Merchandise Processing Fee (MPF). The MPF for formal entries is an ad valorem fee of 0.3464 percent. The maximum amount of the fee shall not exceed $485 and shall not be less than $25. The fee is based on the value of the merchandise being imported, not including duty, freight, and insurance charges. MPF for informal entries (i.e. goods imported via mail etc.) is a set fee and ranges from $2.00 to $9.00 per shipment.

If the mode of transportation is via ship a Harbor Maintenance Fee (HMF) is collected by CBP. HMF is .125 percent of the value of the commercial cargo shipped through identified ports. HMF is not collected on cargo imported or transported via air or mailed. However, goods that are shipped are subject to both MPF and HMF.


Overview
Import duty and taxes are due when importing goods into the United States whether by a private individual or a commercial entity. The valuation method is FOB (Free on Board), which means that the import duty and taxes payable are calculated exclusively on the value of the imported goods. However, some duties are based part in value and part in quantity. In addition to duty, imports may be subject to a Merchandise Processing Fee, and in some cases to sales tax, and Internal Revenue Tax.
Duty Rates
Duty rates in the US can be ad valorem (as a percentage of value) or specific (dollars/cents per unit). Duty rates vary from 0% to 37.5%, with the average duty rate being 5.63%. Some goods are not subject to duty (e.g. some electronic products, or original paintings and antiques over 100 years old).
Sales Tax
Sales tax is not automatically charged on imported goods. However, Customs and Border Protection (CBP) declarations are made available to state tax representatives that may occasionally claim state taxes from the importer.
Minimum thresholds
Duty is not charged if the value of the imported goods is up to US$200.
Other taxes and custom fees
CBP collects federal taxes and fees on behalf of other federal agencies, like the Internal Revenue Service, depending on the commodity being imported. User fees depend on the type of entry and mode of transportation.
- Federal Excise tax is imposed on imports of alcoholic beverages and tobacco.
- Merchandise Processing Fee (MPF) is charged on formal and informal entries:
MPF on informal entries is either US$2, US$6, or US$9 per shipment.
MPF on formal entries (for imports of goods valued over US$2500) is set at 0.3464% of the value of the goods with a minimum charge of US$25 and a maximum of US$485



Posted from my poverty iphone

cliffs from poverty iphone?

I've been reading this, the ebay buy and flip thread and the niche website thread. I plan on purchasing two domains (two different niches) on friday to start messing around with this weekend.

[bealsjt]

Fuark. Can't pull the trigger brahs, I'm scare


Have $10k liquid ready to go balls deep. Cannot decide on a niche.


If you were me, what would you do?

[AliasJR]

Fuark. Can't pull the trigger brahs, I'm scare


Have $10k liquid ready to go balls deep. Cannot decide on a niche.


If you were me, what would you do?

I am a noob just like you, but look for something outside the box, not tablets, smartphones, or any other electronics as those markets are saturated

Maybe very powerful led flashlights (would have to look on ebay and other websites to see how much competition there is). But people like that and led tech is big nowadays.

http://m.alibaba.com/product/4994039...igh_Power.html


You would have to order samples before anything else and see how good they are


Posted from my poverty iphone

[thewall05]

Fuark. Can't pull the trigger brahs, I'm scare


Have $10k liquid ready to go balls deep. Cannot decide on a niche.


If you were me, what would you do?

I would do more market research because you clearly aren't ready. You might still do okay if you pick the wrong market but it will literally give you an ulcer in the meantime.

Also, just a friendly tip, figure out how much you want to make on your investment and then backwards map every thing. This will give you a pretty clear picture of when you're about to make a purchase that is feasible or not.

[KoCorl]

Fuark. Can't pull the trigger brahs, I'm scare


Have $10k liquid ready to go balls deep. Cannot decide on a niche.


If you were me, what would you do?

research.

and then research more.

you should have a business PLAN before making any purchases.

[AliasJR]

I would do more market research because you clearly aren't ready. You might still do okay if you pick the wrong market but it will literally give you an ulcer in the meantime.

Also, just a friendly tip, figure out how much you want to make on your investment and then backwards map every thing. This will give you a pretty clear picture of when you're about to make a purchase that is feasible or not.

Hey, I messages two suppliers two days ago asking for prices and they havent responded, wat do?


Do I got to look like I am a company for them to respond to me or whats the deal?

[Tubulin]

Hey, I messages two suppliers two days ago asking for prices and they havent responded, wat do?


Do I got to look like I am a company for them to respond to me or whats the deal?

Act professional. Suppliers are hungry for business. Say you own a private import export company etc.

[AliasJR]

Act professional. Suppliers are hungry for business. Say you own a private import export company etc.

I am going to file for an LLC,
I had started the process like 3 years ago, that should help.

What type of questions do you usually ask them aside from MQO and price?

Shipping policies? What else?


Thanks

[Wilmega]

I did drop shipping world phones directly from supplier to customers..be careful with eBay cause it'll **** over sellers. Paypal also always takes buyers side even with no proof.

[SpiderSense]

I feel like you guys are making things seem a lot easier than they actually are.

How can I overcome my skepticism?

[AliasJR]

I feel like you guys are making things seem a lot easier than they actually are.

How can I overcome my skepticism?

Doesn't sound easy to me, that shipping/importing paperwork seems like a bish, I still dont know in detail how that works

[Stevenface]

what are some things people NEED? things i can feel confident buying in bulk?

No one wants to pay squat for stuff they need. People fork out dough for stuff they want.

[HmbleMgnificent]

Nope, it's not. The situation basically is this. My dad has 7.5 acres of land that he's got nearly paid off, and he lives overseas. He doesn't use the land for anything, except he lets some immediate family live there. After I graduated earlier this year, I expressed interest in aquaponics technology and he offered to help fund a small startup. So now I've got a 3000sq ft greenhouse I'm filling up with stuff, and enough land for 10 or 20 more similarly sized greenhouses. The cost per head of lettuce I quoted is with a single greenhouse and includes all costs except his mortgage. He'll be paying that regardless, and any profit I make will go back to him to help pay things off and build more greenhouses. His property taxes are relatively low, and won't significantly impact the bottom line. I can't quote a number on that because I don't remember it right now, but I can say it's not a deal breaker.

On top of the produce, my degree is in electronics engineering, and I'll be leveraging that to design these greenhouses such that they're nearly autonomous and self-sustaining and I can manage many of them myself. I'll also be selling the control systems for either large or small scale greenhouses.

You know there are online communities where automated hydroponics would replace the need for Vietnamese gardeners right?

That would be a massive market for you to tap

[Market_Pantry]

i got ripped off yet again. finally confirmed it. no product shipped.. paid with WU. ive gotten ripped off with wire transfers too.

i suggest doing paypal only

[F2.]

Ok, here's a pro tip for everyone here that keeps talking about import export duty bullchit. Fact, most likely the amount of stuff you start out buying will be small enough quantity where you can have it shipped straight to your house. So stop talking about all this dockyard man crap. Secondly, your supplier is 99% likely to lie about the total cost of the package on customs forms, so you will pay no duty.

For anyone who plans on buying some sort of gigantic item, or plans on buying a ****ton, ignore this.


edit: Another pro tip

This is how your thought process should go

1 What am I going to sell? Browse ebay and alibaba for ideas
2 Who's going to sell it to me? Message every single supplier on alibaba who sells the item
3 How do I get a good deal? When you first inquire ask for prices on an amount over their MOQ. Now if they respond and the price is right tell them you want a sample order of a few pieces of the item. You now have them locked into a price and you pretty much should only pay for shipping.
4 Now go double check all your costs. Taxes, ebay/paypal fees, packaging, shipping.
5 Now here is where you can't be helped, and you just have to not be an idiot. Pay the supplier and hope they are legit. I've never been scammed out of money, but I also know who feels like a scammer and who seems legit.
6 Check quality of the items and then make your first full sized order if it's good.

Step one is the only hard part. Everything else is cake if you have common sense.

[NaufelonMisc]

really useful thread! cheers cuz

[KoCorl]

Ok, here's a pro tip for everyone here that keeps talking about import export duty bullchit. Fact, most likely the amount of stuff you start out buying will be small enough quantity where you can have it shipped straight to your house. So stop talking about all this dockyard man crap. Secondly, your supplier is 99% likely to lie about the total cost of the package on customs forms, so you will pay no duty.

For anyone who plans on buying some sort of gigantic item, or plans on buying a ****ton, ignore this.


edit: Another pro tip

This is how your thought process should go

1 What am I going to sell? Browse ebay and alibaba for ideas
2 Who's going to sell it to me? Message every single supplier on alibaba who sells the item
3 How do I get a good deal? When you first inquire ask for prices on an amount over their MOQ. Now if they respond and the price is right tell them you want a sample order of a few pieces of the item. You now have them locked into a price and you pretty much should only pay for shipping.
4 Now go double check all your costs. Taxes, ebay/paypal fees, packaging, shipping.
5 Now here is where you can't be helped, and you just have to not be an idiot. Pay the supplier and hope they are legit. I've never been scammed out of money, but I also know who feels like a scammer and who seems legit.
6 Check quality of the items and then make your first full sized order if it's good.

Step one is the only hard part. Everything else is cake if you have common sense.

Good post brah. And to all the other brahs looking for items that people are looking for.... If only there was a way to figure out search engines top hits and searches

[TsarChasm]

Do any of you guys have experiences with letters of credit?


I actually worked for a small import/export company. We sold chemicals and bulk raw ingredients to supplement formulators. For a guy that speaks almost no English. My boss was clearing almost 2 million in profit a year from existing business. I did most of the dirty work and created a lot of the connections in the states and he worked out the logistics and dealt with the cash flow.

Its all about finding a niche, that is not overly saturated. Then you find a manufacturer and a buyer. As simple as that. Well it is really not that simple. You need to do a lot of cold calling and prospecting to find buyers. Building legitimate business relationships is key. You want long term repeat business.

In reality you can make it how far as you want in this business and the opportunities are endless if you find an untapped market.

I have been wanting to take the plunge ever since I left the business and need to learn the logistics side and how to do it using other peoples money with letters of credit.

[newb123]

I am so in on this, Can't see myself doing 8-5 for the next 30 years! Gotta decide on a niche first though,lol

[bealsjt]

i got ripped off yet again. finally confirmed it. no product shipped.. paid with WU. ive gotten ripped off with wire transfers too.

i suggest doing paypal only

Why would you even use anything BUT PayPal or escrow with a company you have 0 experience with? Can't be serious