If you think that you are giving too much money during the cooperation with suppliers or you are at the beginning and you are looking for cheap, but also reliable China electric suppliers, make sure you have all the information. This refers to the current supplier’s tariff, method of payment, consumption, etc. When you have key information at all times, you will easily find a great offer for your business.
Remember that your profit may depend on how much you reduce your purchasing costs. So you have to consider every dollar important. Since labor is much cheaper in China, our advice is to find a supplier there. In this article we will address how to find best supplier in China and how to lower the price even more.
Comparison of different offers
Although China electric suppliers have much cheaper offers compared to other markets, there is a difference between their suppliers. To find the offer that suits you best, compare their offers. Don’t immediately agree to a standard supplier tariff like many people do, because that’s probably not the best they can offer you. Each supplier will offer you a range of tariffs and some will certainly be cheaper.
All you need to do is consider your invoice and other statements, talk to the supplier and maybe come up with cheaper options. If you find a supplier and then notice a cheaper and better one, just switch to their service. You will not change anything in your business except costs. So you don’t have to worry about supply when switching. This is an opportunity to save a lot more money than you planned. If you still haven’t found a supplier, give yourself time and do as much research as possible.
Factors affecting the final price
When negotiating with suppliers, it is important to consider several key factors that affect the cost of the service. For example, ask them if there are special offers or discounts. Many will not want to tell you at the beginning if you are already interested in them. Don’t forget to ask them how long the discount lasts, because that way you will know how much time you have available when it comes to making a decision.
Also, inquire about the payment schedule and method, as this will help you choose the payment method that best suits your finances. For example, direct debit is a cheaper method, because you will save on an annual basis. However, many are not happy to pay in this way. Don’t forget to pay the permanent fee and the consumption fee. This is a fixed amount that will cover the cost of maintaining the supply.
Many people have doubts about this market, because they believe that they cannot use its full potential. Some common reasons are Chinese language, lack of good organization, etc. However, if you want good components and ideas for your project, you should focus on all the possibilities of the market. Don’t dismiss this idea so easily just because you ran into the first hurdle. If you research the market enough and find some great deals, you don’t need to know Chinese.
We are sure that you will do business successfully without it. For example, some owners are foreigners while most people speak at least a little English. Of course, if you know the language, that’s just an added advantage. In that case, you will be able to communicate with most of the market and you can be direct.
Popular market places
Have you heard of Canton fair? This is definitely one of the best options you have, because there are imports and exports of goods in huge quantities. You can visit it twice a year in GuangZhou. It is so large that it is divided into several phases, such as electronics, consumer goods, home decor, textiles, etc.
The Global Sources Tradeshow is another giant fair held twice a year, and you can visit it before Canton Fair. It is an opportunity to organize a trip that you will make the most of. At these events, you will not only find a large number of products, but you will also be able to listen to the speeches of entrepreneurs.
So, the fair is a place where you can adopt useful knowledge that will help you in business. Shenzhen electronics market is always open so you don’t have to wait certain period of the year, same is with Yiwu Wholesale Marketplace which is a famous place for very low prices, and it is open every day except during the holidays.
Negotiating with Chinese suppliers
While barriers to doing business should not scare you, you need to be aware of some obstacles. This will make it easier for you to overcome them and you will not have unpleasant surprises. However, many suppliers speak English, but there are those who do not. This is the first thing you need to keep in mind. If you care about communicating with certain suppliers, always have an interpreter with you or you can work with wholesale agencies like JustChinaIt who are experienced in connecting China suppliers with foreigners. However, they can read much better than they listen, which means that written form is always a better choice. Cultural differences are another barrier you should expect. The Chinese people are very kind and acceptable, do your best to reciprocate.
Ask clear questions to your prospective supplier to avoid misunderstandings. Repeat your presentation several times if necessary. Negotiations are not the last stop, because they are followed by an agreement. Until the agreement is reached and the conditions are recognized, the work is not finished. When it comes to Asia, the treaty is an almost irrelevant item. To them, a formal agreement often seems meaningless, which means that you can expect changes after the agreement. Our advice is not to make assumptions, set clear requirements and ask the supplier what he wants. Don’t forget to mention all the details that are important to you.
Companies compete daily for customer attention. This means that you will surely be able to find some great offers, you just need to know how to search. There are several factors that will affect the success of portage, so think about every detail.