How Much Money My Importing Business Makes
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- Опубліковано 21 бер 2023
- Sharing how much money we make from importing and selling arts and crafts products. I will reveal the revenue, costs and the profit we make.
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Selling Arts & Crafts to nurseries? If only you knew someone that had a load of day nurseries… 😅👍
Always great content. There is not a lot of information like this online. Keep it up James!
I saw a comment on a previous video where someone was moaning about you using other countries for this stuff. So I'm really happy to see you answering that so well.
📌 I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
Hello, I’m 37 and I am not worth much yet , please help me out. Bought my first house last month and I can't seem to make any other smart investment.
wanted to trade, but I got discouraged with the market price fluctuations
Can you recommend a guide for me?
I highly recommend Mr Chrissy Barymoer. He is my current trader and His strategies are working amazingly well
I knew someone would mention Chrissy Barymoer, he is perfect in helping beginners grow. I would not recommend anyone else.
Smashing it James. Thanks for inspiring 👍🏻
Great content as always James, We started importing container loads of car parts literally start of 2019 and we hit it really well but post 2020 the snowball stopped and literally was breaking even. Now the freight charges are back to normal I hope they all stay and hope we can all get those pre covid margins back and grow 🌱
Where are you importing from? And where do you sell?
nice try thinking hes gonna give you that information lol
@@hassanamir387
great content, want products
Excited about potential collaboration with you! Could we connect for a quick chat?
How’s business?
Can you please do a video about your laser tag business? I've not seen you do anything on that and I'm super interested in how this fits into your empire. Thank you!
Great course with documentary vibes, really enjoyed it
Great content! I love how creative you are!
Cheers, thanks for watching!
What an informative video! Thanks for that! 👍
Love your videos, great efforts!
On the actual challenge, then the game here is that you need to set up some B2C brands.. You would say, that's easy, I've done that..
But honestly, how you have to do it is find people that are good in ecom, buy 75% of their business, leave them with the rest - and make them work on your stock - so you start owning your B2B customers slowly and indirectly get more B2C - that you simply own.
Look through your 40-80 B2B customers, there might be 1 or 2 there you can consider to buy :)
Great video as usual. Would love to know more about how you track all your business… what reports etc.
I find this sort of thing really interesting. I spent 20+ years buying from the far east and seeing how far east companies manufacture is mind blowing. We simply are unable to do this in the UK. What is interesting is Turkey being brought up all the time. Most of your printing media is made in the far east and watching it being made just shows how cut out China is with manufacturing.
Thank you for making this insightful video. Lots of gold here
Learnt more on this video than 4 years in uni. Love it!!!
Found this channel recently, loving the content!
We love you watching!
@@JamesSinclairEntrepreneura question , how do u find permanent clients who will buy stuff from u in bulk ? Do u do cold calls or walk yourself to the Buisness owner ?
I like the explanation about why it's not done in the UK. Make in the West only sounds good at campaign rallies, but not too practical.
Yep, it just couldn't be done over here as well.
Just not having the cheap labour would drive up the cost of the end product.
I liked the breakdown for b2b and b2c. I didn't know that businesses didn't pay straight away!
Hello James, is your 5× cost formula calculated on landed cost, or on ex factory price? Love the work, hope you see this!
Great video as always
I love your videos hope you’re well
This is all really great stuff - the pure mechanics of it all. However the big omission and headache.... and the "lifeblood"... is how do you get the customers, particularly the wholesale/trade accounts, in the door?! Is it a case of build it and they will come? Are you that "niche" that you're the go-to for this stuff?
Someone who is thinking of starting their own import/export business. What products are easy to buy and shift to begin with just to get you up and running?
Great video ,Thanks.
thanks man!
Don't know why you don't have millions of subscribers & thousands of likes, James, because you offer more good business advice than all the spoofers on YT. I have no doubt you will tweak that too eventually. You're good like that. People will get it eventually.
Do you do your own printing ?
Thank you.
Maby you can put your best seller products as an affiliate products , so you can increase your online sales, there is as well a lot of youtube channels that review toys, so you can work with them as well. You can even put the links on your videos, because you have a decent amount of views, and people can see your product range. Great video, it was really interesting!
that sand art was great when i was a kid great memory's one criticism a lot of plastic being used in these businesses
We are aware of our products using plastic and are constantly trying to think of eco ways forward in our development.
Plastic is fully recyclable over packaging that is plastic coated ( like a coffee cup ) so we really talk about this and better ways forward.
Thanks for sharing, James. Presumably that means in months like January, you make quite a sizeable loss, right? What's the annual profit if you don't mind me asking?
£12k on your warehouse and £17k on labour is killer.
It would be interesting to compare your costs against the cost of using a 3rd party warehouse. I work with a good 3rd party warehouse over your way and their rates are surprisingly good.
For reference, my goods are a lot smaller than yours (35 per ctn), but I sold over £250k of goods last month and my 3rd party warehouse fees were only 3.5k (warehouse labour, processing, and storage included) so the size of your goods must make a huge difference.
Presumably the teddies arrive vacuum packed, right? How many teddies can you fit in one of those boxes behind you at 1:50?
The warehousing costs maybe are high, I did say that they are my estimations; as we own the freehold.
So couldn’t compare to a 3rd party; it’s just not my style to use 3rd party warehousing so I wouldn’t look at that; mainly because we do mixed cartons etc.
Our months do fluctuate- we did 550k in one month this year. Profit for the year will be circa 300k net on this business.
This business is one of our most exciting and I see it becoming our largest in 5 years time.
Overall these videos are a broad view of the business and I don’t get into mega detail in fear of it being boring for the viewer.
Impressive Luke. What product are you selling ?
Those that want local manufacturing tend to not no anything about business and how it works. A great video as always James. Thanks
Your videos are the best
With regard to not manufacturing in the UK. I remember someone once saying to remove the excuses. I just can't quite remember who said that 🤔
we produce eco friendly tote bags and various kind of other bags. we are in this export business from 2005 . you can contact with is if you need sauch kind of products from our factory.
I am a business owner in Turkey and would love to have a partner in the UK or any European country. :))
Hi Enes. What are you producing? We are a UK company searching fo companies in Turkey for export to the UK.
...did you need to get the toys through some sort of approval process before sale ? (to ensure child friendly, just wondering if the gov needs some type of certificate).
Absolutely- we have annual trading standards inspections and each product has testing; this can cost up to 5k a product but averages out less than this.
The QC is vigorous work, but we like that it is.
Great video! very informative. I'm planning to start my exporting business from Bangladesh.
What type of business meeting to
Very interesting. I am a bit concerned that it is plastic tat headed for landfill mind you
Nice story from you. I did the same
Hi, do you sale jute and cotton hand bags?
I would say the workforce and overall production costs would be the real reason.
James I am a big fan of your work and I have been watching your UA-cam for a while now but I was just wondering how are you able to own so many businesses at once and also allowing them to scale up every year.Doesn’t it not get stressful for you and your team ?
They look like so many businesses but they’re one really. They all vertically integrate. Stressful at times, but only funding everything; to make my life easier I could get a VC to back us but then I’d hate what I do.
Is there any chance I can talk to you more about this?
Wouldn't it make sense to open a European operation? 10 x the market size, open a warehousing and distribution centre in Romania or Hungary, lower taxes (-30%) certainly much lower operating costs (-65%). Buy a few trucks with the savings and set up your own distribution network...bingo!
You're content is great and people can learn a lot also get to see a successful business from the inside. Just one criticism... your thumbnails on almost all of your videos give off a negative sort of vibe to them with your face always being either sad or angry... try some happy ones, be proud of the success and attract others into that success.😊
That's perfect
I have a rota software that would save you money on managing your staffs rota across all your brands, how can i get a loom video sent to you showing you the value of my product
In his video description there's probably a contact email aswell as social medias which would be the best way to get in touch with him.
I'm surprised you didn't mention FX fees working in many currencies and customs and import fees. They make up a big proportion of my costs for my very small business. I totally agree with stock levels being a killer. I try to be lean, buy to order and drop ship when possible but it's very difficult when customers are used to short delivery times. For me taking pre orders really helps with cash flow but I have found a winning formula yet.
Were Rossi's at IFE the past few days? I didn't see you but It was a big show so it would have been easy to miss!
No, but I went yesterday to case it for next year.
James thanks for the informative Video; As another revenue stream why not look at exporting your goods The £ is low against most currencies and kids are kids all over the World
We’re looking into that as we speak.
I was surprised with your B2C numbers....i can help you increase that
Hi all , if anyone interested. I could get arrange or manufacture products from India. Mostly spices and healthy ingredients for food
I understand manufacturing in India for cheap labour, Turkey aswell since import costs are lower, better exchange rate and relatively low wages however why do you manufacture in China as opposed to Vietnam or Pakistan? I thought Chinese labour and importing is getting much more expensive compared to other Asian countries like Vietnam, Pakistan? My only guess could be maybe that the industry is more accessible in China and roadways ECT are more developed. Just a question from someone who probably doesn't know what he's talking about. 😂
The reason we stopped using China for a while is the shipping fees became too much. They’ve come down now.
China V other countries, I would say the reason we choose a factory from any country is because of our relationship with the supplier, if we like them and we like their team and their morals regardless of where they are in the world; this is what makes us make a decision on wether to do business with them or not.
@@JamesSinclairEntrepreneur Thanks for the reply and explanation.
China is used because it already has more effecient structures in place to get production done and sent out
We supply our petrified wood products to local and international customers. We sell our petrified wood products at the most reasonable wholesale and retail prices. Regarding the international shipping, we work together with the trusted and experienced forwarding service who ship our petrified wood furniture products abroad. Make us as a business partner in your furniture business.
Hello sir
My name is kripalsinh
I am from India
I. Am a exporter
I. Am. Searching a buyer for my product
Time to update bro.
Doesn't this guy have a kindergartens? Why not have a test run of a shop selling the goods in the kindergarten?
And back to 7000 for shipping 😢
So this is how all the junk comes to America and all the consumerism I keep hearing about.
اگه قصد تجارت ب صورت ته لنجی دارین و دنبال یه کار بلد تو این حوزه میگردین پیشنهاد من بازرگانی مهیر
Lots of plastic!
Tbh you’d be better off trying to become Build a bear’s main supplier
Course he would😂..when Build a bear have their own suppliers already in the far east. This guy has his own brand of bears and products.
@@dantheman81811 He literally has a factory in India he could use to compete as their main supplier
your need one years not 10 years
Yeah but what about your cost to the environment? Your business is exactly what the government will target in 2030
7 years away then? Another dumb comment
@@dantheman81811 You're literally the problem
i live in turkey i can help you with your business and find you good stuff you guys need here in turkey just let me know if you are interested
Good luck.