Ready to bring unique clothing items into the U.S. market? Foreign fashion can really catch the eye of the American shopper, but remember that to be financially successful, you’ll also want to consider carefully how to minimize risks and maximize profits.
Starting with insurance requirements, the cost of your import bond depends on the number of transactions you engage in. If you plan to bring in additional overseas shipments over the next few months, a continuous import bond may be the most cost-effective option.
Transaction terms can vary greatly, so you’ll want to discuss those with your transporter before putting down your John Hancock. Several common options exist:
- Free on Board, where you’ll pay for each cost yourself
- Delivered at Place/Port, in which the transporter has pre-negotiated, discounted shipping rates
- Delivered Duty Paid, a sort of full-service option in which the transporter charges you customs taxes and shipping fees up front
Fashion comes and goes, so if you’re trying to decide between air and ocean transport, air has the distinct advantage of speed. Although ocean transport is cheaper, the slow delivery may not be worth the savings.
The above are just a few of the considerations that clothing importers should iron out. By carefully calculating and executing your plan, the goods you bring in will get customers excited about buying from you.