Pre- Order Business -Importation

 

THE ULTIMATE SMARTPHONE WEALTH CREATION

A detailed explanation of how to set up and operate a PRE-ORDER business


1. Introduction: What is Pre-Order in Mini Importation??
Pre-order in mini importation refers to the process of placing an order for a product before it is physically available or in stock. In other words, it is an advance purchase of goods that are not yet available for immediate delivery.
In mini importation, pre-order is usually done when the seller or supplier has announced the arrival of new products or the restocking of an existing product. This allows the buyer to secure a unit or units of the product before it is sold out or the price is increased.

To participate in a pre-order, the buyer typically needs to pay a deposit or the full price of the product upfront. The seller will then reserve the product and notify the buyer when it is ready for shipping or pickup.

Pre-order is a common practice in mini importation, and it is a great way for buyers to get in-demand products at a lower price and to ensure that they get the products they want before they are sold out. However, it is important to do due diligence on the seller or supplier and to read the terms and conditions of the pre-order carefully to avoid any potential issues.


2. How do you get customers for your Pre Order business??
Getting customers for your pre-order business involves a combination of marketing and customer engagement strategies. Here are some effective ways to get customers for your pre-order business:

1. Social media marketing:
Use social media platforms such as Facebook, Instagram, and Twitter to promote your pre-order business. Share pictures and information about your products, highlight the benefits of pre-ordering, and offer exclusive discounts or bonuses to customers who pre-order.

2. Email marketing:
Build an email list of potential customers and send them regular newsletters about your pre-order products. You can also send targeted emails to customers who have shown interest in a particular product or product category.

3. Influencer marketing:
Partner with social media influencers in your niche to promote your pre-order business. Influencers can help you reach a wider audience and build trust with potential customers.

4. Referral marketing:
Offer incentives to customers who refer others to your pre-order business. This can be in the form of discounts, free products, or exclusive access to pre-order products.

5. Customer engagement:
Engage with your customers by responding to their queries promptly, providing excellent customer service, and offering personalized recommendations based on their preferences.

6. Paid advertising:
Use paid advertising platforms such as Google Ads or Facebook Ads to reach a larger audience and promote your pre-order business.

Remember, building a successful pre-order business takes time and effort. By implementing these strategies and consistently delivering high-quality products and customer service, you can attract more customers to your pre-order business and grow your sales.


3. How do you make that you Order goods that will sell very fast??
To order products that sell well for your pre-order business, you need to conduct thorough market research and analyze customer demand. Here are some steps you can take:

1. Identify a niche:
Choose a specific niche for your pre-order business. This could be a particular product category or a group of customers with specific needs or interests.

2. Research the market:
Use online tools such as Google Trends, Amazon Bestsellers, and social media to identify popular products within your niche. Analyze customer reviews, comments, and feedback to understand their needs, preferences, and pain points.

3. Evaluate the competition:
Research your competitors to understand their pricing, product offerings, and marketing strategies. Identify gaps in the market and areas where you can differentiate your pre-order business.

4. Test the market:
Before making a large order, test the market by offering a limited number of pre-orders for a product. This will help you gauge customer interest and demand.
5. Build relationships with suppliers: Develop relationships with suppliers who offer quality products at competitive prices. Negotiate favourable terms and discounts for pre-orders.

6. Analyze sales data:
Track your sales data to identify which products are selling well and which ones are not. Use this information to adjust your product offerings and marketing strategies.

7. Keep up with trends:
Stay up to date with the latest trends and innovations within your niche. Attend trade shows, read industry publications, and network with other businesses in your niche.

By following these steps, you can identify and order products that sell well for your pre-order business, and ultimately increase your sales and profitability.



4. How do you Calculate the shipping cost to be able to determine prices??
Calculating shipping costs for your products is an important part of determining the final price of your products. Here is a general process for calculating shipping costs:


1. Determine the weight and dimensions of the product:
Use a scale and measuring tape to determine the weight and dimensions of the product, including its packaging.

2. Determine the shipping destination: Identify the destination of the shipment, including the country, state/province, and zip/postal code.

3. Choose a shipping carrier:
Choose a shipping carrier that offers the best rates and delivery times for your shipment. Common carriers include DHL, FedEx, UPS, and USPS.



4. Use the shipping carrier's online shipping calculator:
Most shipping carriers have online shipping calculators that allow you to estimate the cost of shipping based on the weight, dimensions, and destination of the shipment.

5. Add any additional fees:
Some shipping carriers may charge additional fees, such as fuel surcharges, residential delivery fees, or insurance fees. Be sure to factor in these fees when calculating your shipping costs.

6. Determine the final price of the product:
Once you have calculated the shipping costs, add them to the cost of the product to determine the final price.

For example, let's say you are a mini importer who wants to import a product that costs $50 and weighs 2 kg. You plan to use DHL to ship the product to a customer in the United States, with a zip code of 90210. After using DHL's online shipping calculator, you determine that the cost of shipping the product will be $20. You also add a fuel surcharge fee of $5. To determine the final price of the product, you add the cost of the product and the shipping costs and fees, which is $75 ($50 + $20 + $5). Therefore, the final price of the product will be $75.


5. How do you Document records (Keeping records) in Pre Order business??
Keeping accurate records is crucial for the success of any pre-order business. Here are some tips on how to document and keep records in your pre-order business:

1. Use a spreadsheet:
Use spreadsheet software, such as Microsoft Excel or Google Sheets, to track your inventory, sales, expenses, and other important data.

2. Create categories:
Create categories for your records, such as inventory, sales, expenses, and customer information. This will help you organize your records and easily find the information you need.

3. Track inventory:
Keep a record of your inventory levels, including the number of units ordered, received, and sold. This will help you avoid stockouts and ensure that you have enough inventory to fulfil pre-orders.

4. Track sales:
Keep a record of your sales, including the date of the sale, the product sold, the price, and the payment method. This will help you monitor your revenue and cash flow.
5. Track expenses:
Keep a record of your expenses, including the cost of goods sold, shipping fees, marketing expenses, and other business-related expenses. This will help you monitor your expenses and identify areas where you can cut costs.

6. Keep customer records:
Keep a record of customer information, including their name, email address, and order history. This will help you keep track of customer orders, communicate with them effectively, and build customer relationships.


Here is an example of how to keep records for a pre-order business using a spreadsheet:

1. Create a spreadsheet with the following categories:
Inventory, Sales, Expenses, and Customer Information.

2. In the Inventory category, create columns for Product Name, Quantity Ordered, Quantity Received, and Quantity Sold. Keep track of the number of units ordered, received, and sold for each product.

3. In the Sales category, create columns for Date of Sale, Product Sold, Price, and Payment Method. Record each sale and the associated details.

4. In the Expenses category, create columns for Cost of Goods Sold, Shipping Fees, Marketing Expenses, and Other Business Expenses. Record each expense and the associated details.

5. In the Customer Information category, create columns for Name, Email Address, and Order History. Keep track of each customer's information and order history.

6. Regularly update your spreadsheet with new data and monitor your inventory, sales, expenses, and customer information closely.

By keeping accurate records in your pre-order business, you can make informed decisions, identify areas for improvement, and ultimately increase your chances of success.



6. How do you make sure you never lose money in Pre- Order??
While it is impossible to guarantee that you will never lose money in a pre-order business, there are some strategies you can implement to minimize the risk of loss. Here are some tips to help you avoid losing money in a pre-order business:

1. Conduct market research:
Conduct thorough market research to identify the demand for the products you plan to offer. Analyze customer feedback, trends, and competitor offerings to ensure that there is a market for your products.

2. Set realistic goals:
Set realistic goals for your pre-order business, taking into account your budget, resources, and expected return on investment. Do not overextend yourself by ordering too much inventory or investing too much capital without a clear plan for recouping your investment.

3. Establish clear payment and refund policies: Communicate your payment and refund policies to customers before they place a pre-order. This will help avoid disputes and chargebacks if the customer is dissatisfied with the product or delivery time.

4. Choose reliable suppliers:
Work with reliable suppliers who can provide high-quality products on time and at a reasonable cost. Vet potential suppliers thoroughly and establish clear terms and conditions to avoid disputes.

5. Set clear delivery timelines:
Set clear delivery timelines for pre-orders and communicate them to customers. Be transparent about any delays or issues that may arise and work to resolve them quickly and effectively.

6. Monitor expenses and revenues: Monitor your expenses and revenues closely to ensure that your pre-order business is profitable. Keep accurate records of all transactions, including costs of goods sold, shipping expenses, and other business-related expenses.

By implementing these strategies, you can minimize the risk of losing money in your pre-order business and increase the chances of success.


7. How do you Calculate and know your prices and profits even before the products arrive??
Calculating the price and profits of pre-order products before they arrive requires a bit of estimation and research. Here are the steps to follow to calculate the price and profits of pre-order products:

1. Research the cost of the product: Research the cost of the product from your supplier, including the unit cost, shipping fees, and any other associated costs. Use this information to estimate the total cost of the product.

2. Estimate the landed cost:
Estimate the landed cost of the product, which includes the total cost of the product plus any duties, taxes, and other fees associated with importing the product. You can use online calculators to estimate these costs.

3. Determine the markup:
Determine the markup you want to apply to the product. This can vary depending on the product, the market, and your business goals. A typical markup for pre-order products can range from 20% to 50%.



4. Calculate the pre-order price: Calculate the pre-order price of the product by adding the landed cost and the markup. This will give you the price you will charge customers for pre-orders.

5. Estimate the profit:
Estimate the profit you will make from each pre-order by subtracting the pre-order price from the retail price. This will give you the profit per unit.

6. Calculate the total profit:
Calculate the total profit by multiplying the profit per unit by the number of pre-orders you expect to receive.

Here is an example to help illustrate how to calculate the price and profits of pre-order products:

Assume you are pre-ordering 100 units of a product from a supplier for $10 each. The shipping fees and other associated costs come to $500, making the total cost of the product $1500. You estimate that the duties, taxes, and other fees associated with importing the product will be $500, making the landed cost $2000.

You want to apply a 30% markup to the product, which would bring the pre-order price to $2600. You estimate that the retail price of the product will be $3000.

To calculate the profit per unit, you subtract the pre-order price from the retail price: $3000 - $2600 = $400. This means you will make a profit of $400 for each pre-order.

If you expect to receive 50 pre-orders, you can estimate your total profit by multiplying the profit per unit by the number of pre-orders: $400 x 50 = $20,000.

By following these steps, you can estimate the price and profits of pre-order products before they arrive, helping you make informed decisions and ensure the success of your pre-order business.






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