The interesting thing about online buyers is they are extremelyprice sensitive. A survey done by Forrester Research shows that73 percent of surveyed online buyers expect prices on theInternet to be cheaper than in stores. No wonder auctionmarketplaces are thriving. Among the most popular auctionmarketplaces growth of eBay is especially notable! Its marketshare is growing at roughly twice the pace of the over allmarket. So, it's only natural if you like many other wannabeentrepreneurs thinking seriously to start an eBay business.

Say, after spending long hours on the eBay and doing muchresearch offline and online, you finally have come up with aniche category of products to sell. But, there is one littleproblem! You don't have a slightest clue where to get regularsupply of this product for wholesale price. Often, entrepreneurswith great product ideas fail to materialize their dream businessplan just because they are unable to find a right supplier. Howto tackle this problem?

Finding a local supplier

Success in any trading business depends not only on how good youare in selling, it also relies greatly on your ability to sourcethe product at right cost. If you have a fairly large list ofproducts that you are considering to work with you have a varietyof options to choose from. You may start your eBay auctioningbusiness based on local liquidators, closeout dealers, governmentauctions, newspaper classified or Drop-shippers(http://ezine.rusbiz.com/article/39). But to start a real nichebusiness you need to find a constant source supplier, which couldbe a manufacturer, a distributor or a wholesaler. Obviously,Internet is the easiest place to get the initial contactinformation. Try http://www.thomasnet.com/ orhttp://www.tgrnet.com/ - both websites are good informationsources for industrial products manufacturers.

Bear in mind that many manufacturers simply aren't able to handlesmall orders and don't sell products directly to retailers. Sometimes, the minimum sales lot is way too big for a small start-upcompany to manage. However, even if the manufacturer does notsell directly to retail levels, they will provide you withinformation on their products and refer you to their wholesaleror distributor companies, which will be in a position to cateryour needs.

For some category of products, your best option is to attendtrade or industry shows in order to locate a supplier. Check outwebsites of some exhibition centers in your vicinity and find oneor two trade shows of your area of interest. Make sure thatparticipants of the trade show are distributors and wholesalersas oppose to large manufacturers. After all, you need to find asupplier who will agree to work with your initial small orders.

Trade journals or publications of your related field also couldbe a great source in your quest to find a supplier. Tradejournals publish information on industry trend, articles on majorplayers, various industry related event schedules such as tradeshows, and often carry classified sections. Sometimes, they alsopublish specialty issues such as a buyer's guide or a who's whoissue. You may consider getting those issues by contacting thepublishers.

Professional and trade associations similar to local chamber ofcommerce and other groups offer a variety of services, which areextremely useful to members and general people a like. Promotionof the industry and its products and referral services for buyerstrying to find specific products are some of the services thatthey offer. You should not hesitate to contact theseorganizations for help.

Importing

Competition in world's largest electronic marketplace is fierce!If you have to buy products from a middleman, you may find thatyour prices are not workable at all. What to do? Since most ofthe consumers products are imported any way, you may consideroutsourcing your product from a foreign country. Today, thanks toglobalization importing products are no longer as difficult as itused to be! If you are trying to buy a labor-intensive product,the best places are probably China - which is the hottest at thistime, India, Thailand, Vietnam, Bangladesh and some other Asiancountries. If you are looking for medium quality electronics andcomputer parts, your options are China, Taiwan, Korea, Singapore,etc. For high-end designer products Italy, Germany and France areyour best bet. For intellectual property related products, Russiaand other Eastern European countries are still a paradise.

There is a good chance of finding a supplier through online B2Bportals. If you are looking for a supplier from China you may trywww.alibaba.com and www.globalsources.com. Two of the largesttrade leads aggregators on the Internet. For products from Indiayou may try searching the database of both www.indiamart.com andwww.trade-india.com. For products from Russia and other CIScountries www.rusbiz.com is a great option.

Here are the steps you must take in order to import productssuccessfully:

? Locate several suppliers either through online resources or bycontacting Trade Commissions of respective countries.

? Contact the suppliers and see if they are in a position todeliver the right product. Make sure that the suppliers are notyour direct competitors. Many foreign suppliers are activelyselling products through eBay.

? If you find their price and quality of the product areacceptable get several samples. It is very important to give theman exact copy of the product you are looking for. Without aprototype you might end up getting something far different thanyou expected.

? Work out your cost, which include buying cost, packaging,shipping, insurance, customs duty, excise duty if any, financingand handling charges, etc. You may also incur other expensesdepending on products and your location.

? Check out your supplier. If possible make a trip to visit thesupplier. Ask for references. Contact their bankers if necessary.Importing requires absolute due diligence.

? Check with a logistics consultant about shipping and exportingrules of the country.

? Contact a customs broker to verify latest duty and otherregulations related to importing of this particular product.

? Don't forget to consider product life cycle, shipping time,seasonality of the product and other characteristics specific toyour product.

Importantly, do your homework! You can sure make money byimporting and selling goods on eBay. Thousands are already doingthis. But, the key to success relies on your entrepreneurialspirit, due preparation, sound judgment and hard work. If youthink you are ready, go for it!

Nowshade Kabir, is the founder, primary developer and presentCEO of Rusbiz.com - a Global B2B Exchange with solutions tocreate e-catalog, Web store, business process management andother features to run a business online. You can read variousarticles written by Nowshade Kabir at http://ezine.rusbiz.com.