If biking and business are two things that interest you, this quick guide is for you. We’ll teach you how to become a bicycle importer in the Philippines and take off successfully in the industry.
Determine the source/s and the best way to acquire your supply from these source/s
Regardless of whether you are planning to import surplus or brand new bikes, you have to determine the source/s of your bikes and how to ship them from abroad to the Philippines. This stage may require time and effort, but with research and help from a forwarding company in the Philippines, you can make the import process smoother, cheaper, and hassle-free.
Takeaway tip: Ask for quotations from your prospect suppliers, and choose those that can provide you with the requested quantity of bikes at the best quality and price.
Acquire the needed capital
Your capital and the types of imported bikes you’re planning to sell go hand-in-hand. As you come up with your capital, make sure that it’s sufficient to allow you to sell the bikes of your choosing and establish a well-operating bicycle business.
Takeaway tip: If you have to apply for a loan to start your business, make yourself well-versed of the bank’s or creditor’s terms, interest rates, and miscellaneous fees. Choose a loan that lets you spend the least; not one with the lowest interest rate that makes you incur additional fees.
Find the perfect spot
Just like any other business, the location of your shop matters. If you’re an importer whose primary market are retailers, it’s best to get a bigger storeroom that can house a large number of bikes and that has enough parking space for trucks that transport these bikes to different retailers.
If you import bikes to start your own hobby store, it’s best to find an accessible spot for this one good reason: an accessible shop invites prospect and returning clients – always.
With these three tips, you can have a great start in the bicycle import business in the Philippines.
As long as you have the right bike supplier/s, the best forwarding company in the Philippines in charge of shipping the bikes, the right capital to start, and the perfect place to do business, success is in your hands.