🚢 If you caught my last post, you’ll remember I was using an intermediary shipping company because I couldn’t fill a full container myself. Importing has been an adventure full of unexpected costs, learning curves, and… well, a lot of head-scratching moments! 🚛
1️⃣ Lesson #1: Learn how importing costs work 💷
Whether you're importing 10 products or 1,000, there’s a base fee for shipping (around £500), plus a cost per cubic meter. Shipping companies calculate this fee based on the greater value between the volume (cubic meters) or the weight (per 1,000 kilos) of your goods. So, if your products are heavy, you might end up paying based on weight rather than space. As you grow and bring in larger orders, you can spread these costs more efficiently across each item, improving your overall margins. Initially, I couldn't afford to bring in large quantities, but as my business expanded, so did my shipments, helping me negotiate better deals with suppliers and on shipping.
2️⃣ Lesson #2: Hidden costs will always sneak up on you 😩🔍
No matter how small you are, the shipping companies have a way of finding additional costs. Every time there’s an issue, you end up paying more (and there’s always something!). A prime example? I didn’t realize I needed to hire a forklift to unload the pallets from the truck. Rookie mistake! I had pallets arriving on a truck and then... Oh wait, how am I supposed to get them down 2 meters?
3️⃣ Lesson #3: You pay for your mistakes 🚨😶🌫️
Let’s be real, I learned this the hard way, by paying. One thing I now check rigorously is whether my suppliers have all the necessary certifications for their products. If they don’t, it can be a nightmare when it comes to customs. At best, you get hit with extra fees; at worst, they won’t allow the products into the country. I learned this with candles (yes, candles!). So, make sure everything is in order before placing that order!
4️⃣ Lesson #4: Understand your taxes 🫰💷
This one’s been especially tricky for me because I have a large catalog of products made from different materials, all with varying sizes and weights. Each product has a different tax rate. For example, wood is taxed differently from textiles. So, if you’re going into product sales, make sure you’re aware of all the taxes involved. It’s easy to find this information online, but it’s critical to stay on top of it!
5️⃣ Lesson #5: Shipping logistics are a headache 🤯🚛
Once your products reach the UK, you have to deal with the shipping company and the subcontractors they use for the actual delivery. It’s rarely smooth. Expect delays, and be prepared for your goods to arrive at a different time, or even a different day, than planned.
🙅♀️🙋♀️ In my next post, I’ll talk about the challenges of managing a wide variety of products and give my best advice for anyone looking to start a business and sell a product 😙
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