Pros and Cons of Doing Business in Vietnam: Is It Right for You?
Explore the benefits and drawbacks of doing business in Vietnam, from costs to regulatory considerations.
Running a US based reselling business? You might have heard of the benefits of using Chinese wholesalers but be unsure how to get started. We’ve got you covered.
This article will help you find the best wholesaler for your needs and will guide you through the buying process step-by-step. Here’s all you need to know.
You have a range of different choices when choosing a China wholesale website. We’ll take a look in more detail at a few options in a moment. But first, some pointers about things to consider when choosing a site.
If you have the opportunity to travel to China, you could also consider visiting a trade fair to connect with wholesalers in person. This is a good opportunity to meet many different factory owners in one place, and see samples of the goods they produce first hand.
Here are some of the most popular options for Chinese wholesale websites - and some pros and cons to consider.
One of the biggest and most well known wholesale sites - you’ll find many different suppliers across pretty much every segment.¹
A popular wholesale site which is known for a supplier vetting process, leading to higher quality goods on offer overall.²
China Brands is a dropshipping website with millions of products on offer. Vetting processes should ensure goods are of relatively high quality.³
1688 might not be the first choice for new resellers, but is an interesting place to look if you speak Chinese, have a translator, or want to check pricing across different sites.⁴
Source a broad range of products from their manufacturing hubs in China, and access trade tools to support your business.⁵
Known for relatively robust buyer protection and supplier vetting, DHgate offers a broad range of products over many categories.⁶
This is a Hong Kong based site, which exists to promote trade there via trade fairs and helping buyers and factory owners to connect.⁷
The buying process will vary slightly according to which website you choose to use, and the type of products you require.
Here’s a broad outline of the kind of steps you’ll need to take:
Wise Business can help you save big time on international payments.
Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies.
Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.
Some key features of Wise Business include:
Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers
Global Account: Send money to countries and hold multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local
Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account
Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met
Free invoicing tool: Generate and send professional invoices
No minimum balance requirements or monthly fees: US-based businesses can open an account for free. Learn more about fees here
Sources:
1]Alibaba website
2]Global source website
3]Chinabrands FAQ
4]1688 website
5]Made-in-china website
6]DHgate website
7]HKTDC website
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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