068. What You Need to Know About Sourcing Products Overseas

So you want to start a product based business and now you are contemplating which manufacturer is right to service your business. Choosing the right vendor to source your products is a vital key to your pricing point and ultimately your success. You have to make sure the vendor can meet your production needs and requirement at a fair cost. Many businesses turn to overseas markets. There are many pros and cons to sourcing from overseas. The most common reason many entrepreneurs look to Asia, in particularly China, for product suppliers is to take advantage of the low manufacturing costs. Costs of manufacturing in Asia can be significantly lower than doing so within the United States, so much so that for many businesses, it could be quite difficult to be profitable if it wasn't for overseas manufacturing. Cheaper product costs are great, but they aren't the only reason Asia is an attractive place to find a supplier, there are some additional benefits as well: suppliers are generally much more open to working with small businesses and startups, overseas suppliers provide smaller quanti