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Key strategies to finding legit suppliers

Discussion in 'Making Money' started by GreenGoblin, Oct 31, 2008.

  1. GreenGoblin

    GreenGoblin BANNED BANNED

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    KEY STRATEGIES TO FINDING LEGIT SUPPLIERS

    Hey u guys u might remember a post I did a few months back
    "Things you need to know before selling replicas"

    Well I just wanted to shed some light on actually finding legit suppliers.


    Let me start off by saying there no right or wrong answer some of u will get lucky and find 1 or 2 legit suppliers fast while the rest of you well...how can I say this nicely you will be scammed a few times before u get the hang of it. Now let me say this yes I have been scammed for maybe $8,000.00 total but I was a rookie when I started and I didn't have anyone to teach me I had to learn myself. So take this post very serious if u even thinking about dealing with overseas suppliers.

    Why even deal with overseas suppliers what's the purpose, well the USA as a whole is vastly made up of consumers almost everything in the USA is "made in china" or some foreign country such as Asia, so why is this relevant? Well simple, they are the manufactures of the products we use today, from Xbox 360's to Sony PS3.

    Rule #1 Find the Manufacture you will find the best price

    Back in my rookie days I use to trust everyone overseas, thinking not the china man he will never steal from me so I use to contact manufactures from overseas and discuss business with them about hot items like iPods and video game consoles. The conversation went something like this

    ME: Hello do you sell video games

    Fake supplier: Yes my friend, we sell many products please check our website

    Me: What is your price?

    Fake Supplier: How many do u need my friend, I will give u best price

    Me: How about 5 for a small order?

    Fake supplier: One minute let me check with the boss my friend, I wish to do
    long tern business so I give u best price.

    Fake supplier: "waits 30 seconds and comes back", ok my friend my boss said we can supply u with PS3 for $200 each so $1000 USD total for 5 units shipping price included.

    ME: ok, good price do u have PayPal

    Fake supplier: Oh no my friend only western union, PayPal not good for our business we must make sure we get the funds so we only use western union for payment.

    Me: OK I will send it tomorrow.

    So like a rookie I send them $1000.00 and give them the MTCN# and then I wait for a tracking number then I start to notice it's been 3 days, and the supplier never logs back on. 4 days, 5 days, 14 days
    And then it sets in, you have been scammed for $1000.00 just imagine
    how I must have felt my hard earn money someone has take it from me.

    Well it's actually it's my fault for being so stupid; I never looked for the signs. The biggest sign to look for is right under your nose "SHIPPING INCLUDED" why is that so important, well because to ship from overseas cost almost $50.00 if not more for a PS3 unit itself so if the shipping is included on a $200.00 PS3 that means they actually got the unit for $150.00 but let's think. That's what they got the unit for however to make profit they would have had to get the unit for less then $150.00 so let's say they got the PS3 unit for $100.00 just to make a $50.00 profit. Now the numbers start to look really different. I really doubt u can buy a PS3 overseas for a 100 bucks but when you're caught into the moment with a good price u over look the obvious.

    Rule #2 Everyone is a liar until proven other wise

    Let's look at the conversation again, why would I just trust the supplier had PS3's anyway. Because they said they had them? I have friends who lie to me all the time why would I trust someone 5000 miles away from me I don't even know. The best thing to do is to ask the supplier, do u have a web camera so I can see the units on web cam most will say no, legit supplier will say yes and do whatever they need to do to let u know there legit, also never fall for the 1 box they have setting in a back room. If they happen to say yes u can view my stock on web camera, ask to see 5 boxes of whatever the item is..I mean they are wholesalers right? They should have 5 boxes, also when they open the box really look at them un package the boxes make sure all the plastic wrap is on the product as if it just came from the store, another trick is, if they happen to bring out 5 boxes and they un package one box, ask them this "can u un package the rest" They should tell u NO! Because they are not sold and need to stay in the original packaging. If they tell u this, chances are there legit however, if they do open the boxes more than likely the units are used and why would they open the boxes not knowing if u going to buy them, be worried be very worried.

    Rule #3 verify the supplier

    Now exactly how do u verify someone in china or any other place for that matter, well this is what happen to me, When I started to sell replica Nikes on eBay I had a real close relationship with my shoe supplier and of course she was legit which made it better. What I started to do was call other companies in china and pay my shoe supplier to call them, and to go verify they were a legit company, which worked out great I turned her into my agent and paid her extra for shoes so she was more willing to put in the extra work for a extra $30.00 USD .

    Rule # 4 create a middle man for the purchase

    Let's just say, you find a supplier and they show u all their stock on web camera, there price seems fair and u verified them as a legit business through another supplier you're associated with. If they don't accept PayPal always create a middle man in the transaction. I use to tell new suppliers I will send my money to my agent and she will come to your company and pay you and pick up my items.

    A legit business will have no problem with this, but a scammer will come up with all sorts of reasons why your other supplier can't come to their location. Some new supplier will think your bluffing, so make sure your associate calls them, so they can treat u fair. Can u imagine the faces on new suppliers when another supplier from china calls there business and tells them, ill be coming to your business to see your company on behalf of you located in the USA. You will be surprised at how truthful and honest they become then after.

    Last but not least
    Not everyone is out to get u, however cover yourself, always have a exit strategy and someone that's looking out for your best interest if u need to western union money anywhere, western union isn't a bad payment option for for merchandise its only bad when u don't know the intention of the person on the other side of the sale

    GOBLIN
     
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    Last edited: Oct 31, 2008
  2. positivenote

    positivenote Regular Member

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    Goblin is making solid moves..I've been here checking out his post taking a look see.trying to see the flaws in his business but the truth of the matter is that he made mistakes in the past and now is shining straight to the top...good looks Globin the info here is pure gold..just imagine how much money people will save if they read a post like this before they went looking around for suppliers..I'll tell you what..,.Goblin would have a price tag on his neck...haha..but hes here to stay...Keep it real black hatters...
     
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  3. artfuldodger

    artfuldodger Registered Member

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    Great post, Goblin...Ive wasted so much time via alibaba and similar websites trying to buy sets of wiis..I never actually got scammed because I refuse to use WU as a business tool, Ive even gotten calls from China as a result (although truthfully,couldnt understand a word) ..........But I wish I had seen something like this so I would have known going in. This is going to save someones ass.

    personally, I dont trust any company that is not organized enough to accept a cc payment, or possibly a business check...as both payment sources actually have protection.
     
  4. spaceman4445

    spaceman4445 Regular Member

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    i just found this guy ...he is from china and helps veriying the merchant or suppliers identity...hve a look
    he owns that forum

    hxxp://migchina.c0m/business-forum/index.php?topic=13.0
     
  5. stoknee

    stoknee Newbie

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    This is some really solid info on this subject. Thanks Goblin for putting this up.
     
  6. rm2468

    rm2468 Registered Member

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    If it is too good to be true, it is. Try small order like one to verify the seller or minimize the risk. A thousand dollars to a poor country is lot of money worth doing anything.
     
  7. leeka91

    leeka91 Newbie

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    Thank you! this was very helpful and you have educated me heaps as well as saving me time.
     
  8. axmengg

    axmengg Newbie

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    GreenGoblin, can you PM me your email? (I don't have enough posts to PM you)

    I want some expertise with dealing with international suppliers as I am starting a business that involves purchasing inventory from China, and I would love to hear some of your past experiences. I will compensate for your time anyway I can. Thank you.